Capital Improvement Fund
The Capital Improvement Fund (CIF) was designed and administered in 1983 by Waterville Estates Association to help fund capital improvements within Waterville Estates. Funds can only be used for capital improvements to tangible assets such as repairs, replacements, upgrades and purchasing of new assets, as noted in our bylaws. It cannot be used as an operating expense such as staffing or general maintenance. The Fund is replenished from a new owner fee applied at time of purchase and by new home building permits. The origin of the Capital Improvement Fund is found in Article XII of the Property Restrictions, Easements and Covenants document.
Projects
The CIF has been used in conjunction with District funds to assist in the completion of recreation infrastructure projects from locker room renovations, community center HVAC upgrade to outdoor court reconstruction. The use of the CIF enhances Community amenities, helps to lower the financial burden on the District budget, which will reduce reliance on property taxes and helps to maintain property values. The CIF is critical to Association initiatives such as Campton Mountain snowmaking and new community mailboxes,
Fee Schedule
Current fee schedule
- existing home real estate transactions – $2,000
- undeveloped lot real estate transactions – $1000
- new home construction building applications – $1,000
2024 Increase schedule
In August of 2024, the Waterville Estates Association Members approved the following tiered increase to home real estate transactions and new home construction building applications over a four year schedule.
- 2025 – a $500 increase effective January 1, 2025
- existing home real estate transactions – fee increase from $2,000 to $2,500
- new construction building applications – fee increase from $1,000 to $1,500
- 2026 – a $500 increase effective January 1, 2026
- existing home real estate transactions – fee increase from $2,500 to $3,000
- new construction building applications – fee increase from $1,500 to $2,000
- 2028 – a $500 increase effective January 1, 2028
- existing home real estate transactions – fee increase from $3,000 to $3,500
- new construction building applications – fee increase from $2,000 to $2,500
Visit CIF Increase Proposal for a complete overview of the 2024 changes to CIF.