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DDB:ownshp.pr Contact: Sue Rogan, 301-217-7391
COUNTY OFFERS SEMINARS FOR
CONDO OWNERS AND OTHERS WHO
USE RESERVE FUNDS TO COVER REPAIRS FOR IMMEDIATE RELEASE: August 28,1996
Montgomery County homeowners in condominiums, associations and co-ops
are invited to attend two free seminars on replacement reserve funds,
sponsored by the Montgomery County Commission on Common Ownership Communities
and the Washington Metropolitan Chapter of the Community
Associations Institute (WMCCAI). A reserve fund is one method associations
use to build up or "reserve" funds to pay for large repairs or replacements of
community property such as swimming pools, balconies, roofs, stormwater
facilities and parking lots.
The first seminar, "Introduction to Reserves", will be held on
September 11 from 7-9 p.m. in the Third Floor Hearing Room of the Montgomery
County Council Office Building, located at 100 Maryland Ave. in
Rockville. The seminar will cover such topics as: the purpose
of replacement reserves, methods of calculating reserve
requirements and the legal and financial bases of reserve
accounts.
The second seminar, "Reserves-Implementation," will be held on
October 24 from 7-9 p.m. in the First Floor Auditorium of the
Office Building, located at 101 Monroe Street in
Rockville. This seminar will cover such items as: strategies for
educating association members on reserves, investment strategies
for reserve funds and tax implications from using replacement
FREE SEMINARS FOCUS ON RESERVE FUNDS 2-2-2-2
Rockville. This seminar will cover such items as: strategies for
educating association members on reserves, investment strategies
for reserve funds and tax implications from using replacement reserves.
Although encouraged, it is not necessary to attend
both seminars. They are the first in a series of
similar programs to be offered through 1997 and early 1998.
To register for the free seminars, contact WMCCAI at
703-750-3644. For more information, contact WMCCAI or the
Commission on Common Ownership Communities at 301-217-3636.
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