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Wildwood Word - July 2026
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You are subscribed to the Wildwood Word.
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PHOTOGRAPHS
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It is against the rules of Wildwood to shoot off fireworks. There are a number of reasons why;
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- Our insurance premium this year is $81,748. It renews in September and has gone up from $57,278 in 2024. $81,748 is equivalent to $43.67 of your monthly dues. If the premium goes up, say $10,000, in September that is equivalent to $5.34 more in monthly dues. Our buildings are over 50 years old. If a building catches on fire, we may not be able to get insurance at any price.
- Children are sleeping by 9:00 PM. Fireworks will wake them up and upset parents.
- There are plenty of animals in Wildwood. Mostly, the noise of fireworks scares them.
- It causes extra work and money to clean up messes. IF YOU MUST SHOOT OFF FIREWORKS, TAKE IT TO NORTHWESTWAY PARK!
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Next Association meeting is on Wednesday 7/15/2026 at 6:30 PM in the clubhouse.
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Contact Information
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Property Management Company
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Community Associations Services
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11711 North College Avenue
Suite 100
Carmel, IN 46032
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Mon - Fri, 9:00 am - 5:00 pm
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Julie Schaefer
customerservice@cas-indiana.com
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This and That
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Fannie Mae and Freddie Mac (Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs) created by Congress to stabilize and provide liquidity to the U.S. mortgage market.) are raising their reserve requirements. Fannie Mae and Freddie Mac require condominium and HOA projects to allocate at least 15% of their annual assessment income to replacement reserves, up from 10%. This change goes into effect on January 4, 2027. Communities failing to meet these strict Fannie Mae and Freddie Mac rules risk losing conventional mortgage financing for buyers.
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Currently Wildwood is putting 11.39% of our budget into our reserve fund. If we raise our dues by $10 next yeear (the legal max according to our documents) our budget would be $409,968. 15% would be $61,495.20. The difference between $44,928 (this years 11.39%) and $61,495 (next years 15%) is $16,567.20.
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$16,567.20 divided by 156 (number of units in Wildwood) divided by 12 (number of monthly payments) equals $8.55. This would only leave $1.45 for all other increases.
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If your Condominium Association fails to make the required 15 percent reserve funding contribution, they are legally non-compliant.
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Under Indiana Code 32-25-4-4 condos are legally mandated to maintain replacement reserve funds. Missing a statutory or mandated reserve contribution is a violation of state law.
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When a community's infrastructure (like clubhouse, private roads, common area buildings, etc) is neglected due to a lack of reserve funds, the neighborhood loses curb appeal. Futhermore, when prospective buyers review HOA documents and see underfunded reserves, it serves as a massive red flag, driving down property values and stalling sales.
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If our expenses go up over the $10 increase next year, we will be forced to cut our budget on several items to balance. Income minus expenses must equal zero as far as a budget is concerned.
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From the Associa website - (Parent company of our management company)
The Complete Board Member Starter Guide
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What's Going On in Wildwood...
- Sargent Anderson and Officer Cox attended the meeting to provide the security report. Mostly quiet. 1 illegally parked vehicle towed.
- The Board discussed the "Doggie Pick Up" signs that have been placed out. Board members have noticed an improvement and some residents who do not clean up after pets now carrying bags and cleaning up. The Board agreed that they would like more signs. They will be ordered and put up.
- There were no owners at the meeting.
- The Board reported some geese gathering near the open area between the pond and clubhouse.
- The Board reviewed additional information from three local law firms specializing in HOA law.
- The Board reviewed and discussed the proposal from Bartlett Tree. The Board approved the trimming work if it can be invoiced over two months.
- Ther Board discussed ongoing issues and inconcistencies with the trash collection services. (Please note - trash service is with a city contract. Wildwood has no control/contract with the city trash services) Julie Schaefer (Property Manager) contacted Joseline Medina (Mayors Advocate) and explained our complaint. Her response was;
I contacted our department responsible for trash schedules to follow up on this issue. This morning, I spoke with LRS for an update, and they informed me that a new driver is now handling the condo routes. They are currently navigating the transition and expect service to run smoothly soon.
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They informed me that the dumpster containers are serviced on Mondays, Wednesdays, and Fridays, while the 96-gallon carts are serviced on Thursdays.
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If you continue to experience any service issues, please let us know so we can follow up with LRS.
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Mayor’s Neighborhood Advocate | AREA 5
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June 2026 Income/Expense
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