Commitees :: The Finance Committee
HOA Assessments received from MP Homeowners pay for maintenance of all facilities, 24-hour security, street lights, landscape maintenance, utilities for all facilities, operation of the MP Office, mosquito fogging of the subdivision, insurance for facilities and the HOA, and much more. Towards the end of each financial year (October-September), the Board reviews the present and previous year's expenses and income. The Board uses that review to set the yearly HOA Assessment. In November of every year, there is a complete audit from a reputable, independent and unbaised CPA Firm, who is familiar with HOA Finances.
The yearly HOA Assessment, as provided for in our Covenants, is set by the Board of Directors at the public Board Meeting the first Tuesday of September every year. At the time of closing, all homeowners sign an agreement to become financially responsible for this assessment. During the month of October of each year, homeowners receive a statement for their annual assessment due and payable January 1st of each year. Please mail your payment in the return envelope included with your statement before the due date. If you do not receive a statement for your assessment, it is YOUR responsibility to contact the MPCA Office at 281-492-2949. Notice of billing and any other pertinent information is published in Parkscripts newsletter and posted in the news feed of this website.
The Board of Directors is allowing 3 ways to pay your fees:
- Mail check or money order for the total amount due to the address shown on the mailed statement by January 1, 2017. If you use online banking, make sure your payee address is correct, 21600 Cimarron Parkway, Katy TX 77450.
- Pay online via credit card or ach through the homeowner portal. There is a fee for paying online through the portal.
- Payment plans are available in the office. You must come into the office prior to December 20, 2017 to get on a payment plan at no charge. After December 20, 2017, there is a $35 charge to get on a payment plan. Plans will consist of 3 monthly payments (November-$125 down payment, December-$125, and January-$125).
If payment is not received at the bank by the due date, the Association will assume willful non-payment and take extensive and usually expensive steps to collect these funds. Until this process has been completed, ALL facility usage will be denied.
Any account not paid before January 31st will incur a late fee of $35.
Accounts not paid before February 28th will incur an additional late fee of $35.
Accounts not paid before March 31st will incur an additional late fee of $50.
Accounts not paid before April 30th will incur an additional late fee of $50.
All unpaid fees after January 31st carry a finance charge of 10% per annum.
Accounts not paid by April 30th of each year may be turned over for legal pursuit in which all costs are the responsibility of the delinquent owner. Legal fees can range from $150 to over $2,000.