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that are for maintaining, replacing or repairing utilities shall not be amortized if the Park Owner <br />receives a reimbursement fi.om a utility company for that purpose. <br /> <br />B. Amortization Periods, Vineyard Mobile Villa and Hacienda Mobilehome Park. For the <br />Vineyard Mobile Villa and the Hacienda Mobilehome Park, the Capital Improvement <br />amortization periods shall be as follows: <br /> <br />$10,000- 14,999 3 years <br />$15,000 - 19,999 4 years <br />$20,000 - 29,999 5 years <br />$30,000 - 39,000 6 years <br />$40,000 - 49,999 7 years <br />$50,000 + 8 years <br /> <br /> C. Amortization Periods For Parks With Less Than 50 Spaces. For any park with less <br />than 50 spaces, the capital improvement amortization periods shall be as follows: <br /> <br />$ 2,000.00 $ 3,499.00 2 years <br />3,500.00 5,999.00 3 years <br />6,000.00 8,999.00 4 years <br />9,000.00 13,999.00 5 years <br />14,000.00 19,999.00 6 years <br />20,000.00 29,999.00 7 years <br />30,000.00 + 8 years <br /> <br /> D. Financing Costs. If the capital improvement costs are amortized, the park owner may <br />include reasonable financing costs, not to exceed the prime rate plus two percent (2%), for the <br />capital improvement costs. <br /> <br /> E. Removal Of Capital Improvements Costs From Space Rent. Any principal and <br />interest amounts amortized and charged to the residents shall be removed from their scheduled <br />space rent at the end of the scheduled payback period. <br /> <br /> F. Resident Approval For Certain Capital Improvement Costs. New capital <br />improvement costs over ten thousand dollars ($10,000.00) for parks with fit~y (50) or more <br />spaces, other than capital improvement costs required to comply with a governmental act or <br />regulation, shall require the prior approval of the residents in order for the park owner to use <br />such costs in calculating an increase in monthly rents. New capital improvement costs over two <br />thousand dollars ($2,000.00) for parks with fewer than fifty (50) spaces, other than capital <br />improvement eusts required to comply with a governmental act or regulation, shall require the <br />prior approval of the residents in order for the park owner to use suer costs in calculating an <br />increase in monthly rents. The park owner shall put the matter to a vote of the residents (on the <br />basis of one vote per household) and "prior approval" shall mean fifty percent (50%) plus one of <br />the total number of households that cast votes. <br /> <br />25 <br /> <br /> <br />