Two Free Seminars Help Homeowner Associations Handle Replacement Reserve Fund

DB:seminar.pr 97- 280 Contact: Sue Rogan, 301-217-7391

TWO FREE SEMINARS HELP
HOMEOWNER ASSOCIATIONS HANDLE
REPLACEMENT RESERVE FUND FOR RELEASE: September 12, 1997

Montgomery County's Commission on Common Ownership Communities and
the Washington Metropolitan Chapter of the Community Associations Institute (WMCCAI)
are sponsoring two free seminars on replacement reserve funds. The seminars are targeted to
homeowners in Montgomery County Condominium Associations, Homeowners Associations
and Co-ops ("Community Associations"). 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, storm water facilities and parking lots.
The first seminar, "Introduction to Reserves", will be held October 9 from 7-9 p.m. at
the Upcounty Regional Services Center, 12900 Middlebrook Rd. (intersection of Middlebrook
Rd. And Route 118), Germantown. This seminar will cover such topics as:
the purpose of replacement reserves; why community associations should develop and
maintain replacement reserves; developer funding obligations; reserve studies and what they
involve; and where community associations can find help to determine
reserve needs.
(more)

SEMINARS FOCUS ON RESERVE FUNDS 2-2-2-2

The second seminar, "Reserves Implementation", will be held on November 12 from
7-9 p.m. at the same location. This seminar will cover such items as: how a reserve study is
conducted and analyzed; integrating reserve study results into community association
budgets, including funding alternatives; strategies for educating association members about
reserves; and investment strategies for reserve funds. Although encouraged, it is not
necessary to attend both seminars.
To register for these free seminars, contact WMCCAI at 703-750-3644. For any
additional information, contact WMCCAI, or the Commission on Common Ownership
Communities at 301-217-3636.
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