Multi-Use Path Update
* You will be receiving a similar physical letter in the mail this week - but we wanted to duplicate it electronically for those who may be travelling or have not checked their mail.
Dear Neighbors,
We would like to provide an update regarding the planned replacement of our neighborhood’s multi-use path.
As many of you know, the HOA Board had been pursuing financing options that would allow the project to move forward while minimizing the immediate financial impact on homeowners. Unfortunately, after considerable effort and discussions with multiple lenders and financial institutions, obtaining financing for this type of community infrastructure project has proven to be more challenging than the banks’ representatives led us to initially believe.
To keep the project moving forward and avoid further delays, we are asking homeowners who are financially able to do so, to submit their $500 project contribution by June 30, 2026. We’d also like to note that dozens of residents have asked us to pay in full up front to avoid paying interest. This financing hurdle has allowed us to honor that request.
We understand that not all homeowners may be in a position to make this payment at this time. Once we collect payments of those willing to participate now, we will have a better understanding of what can be financed and over what period of time. 2–3 years is now what we are hearing from the banks, versus the 5 year period we discussed at the meeting. If you’d rather go the payment route, the exact amount and over what time period will be determined later.
The multi-use path is a valuable community asset that enhances safety, accessibility, recreation, and property values throughout the neighborhood. With your support, we hope to move this project forward as efficiently as possible.
If you are able to submit your $500 assessment by June 30, use the same address you used for your HOA Annual Dues. We have sent everyone an addressed envelope that was included with the physical letters sent out at the end of last week - but in case you didn't get one:
Twelve Lakes HOA
9338 Duck Lake Ct.
Sylvania, OH 43560
Your check should be made payable to Twelve Lakes HOA. Please note the address of the
residence you are paying for.
We appreciate your patience, understanding, and continued commitment to our neighborhood.
Sincerely,
The HOA Board Officers