Free Seminars Offered On Reserve Funds To Owners Of Condos And CO-OPS

db:coco.pr 97- 61 Contact: Sue Rogan, (301) 217-7391

FREE SEMINARS OFFERED ON
RESERVE FUNDS TO OWNERS OF
CONDOS AND CO-OPS FOR RELEASE: March 3, 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 take place on March 20, 1997 from
7-9 p.m. at Fairland Elementary School, 14315 Fairdale Rd., Silver Spring. This seminar will
cover such topics as: the purpose of replacement reserves; why community associations
should develop and maintain replacement reserves;
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FREE SEMINARS TO CONDO AND CO-OP OWNERS 2-2-2-2

developer funding obligations; what a reserve study is and what it consists of; and where
community associations can find help to determine reserve needs.
The second seminar, "Reserves Implementation", will be held on May 14, 1997 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 on 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 additional
information, contact WMCCAI or the Commission on Common Ownership Communities at
301-217-3636.

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