Silverado Residents Association

Welcome to the Silverado Residents Association (SRA). By virtue of being a homeonwer in Silverado, there is a legally binding encumbrance registered on your land title and you are a member of the Silverado Residents Association. In order to ensure the funds are available to provide these services, the encumbrance requires you to pay an annual fee and is NOT optional.  If the fee is not paid, we as a community, will not have the funds to pay our bills.

 

The SRA is mandated to oversee the care and maintenance of specific common areas within the community. This responsibility, an alternate form of taxation, has been passed on to us by the City of Calgary to ensure the care and maintenance of the private park and pathway systems in the community of Silverado. At full development, the SRA will own 43 acres of land.

 

Accounts that are not paid will be sent to a lawyer for collection and an action will be commenced in the Court of Queen's Bench. All legal costs will be passed on to the land owner. A charge of 18% interest annually will be applied for unpaid invoices. Properties for which accounts continue to be unpaid will be subject to foreclosure proceedings.

 

What do your Residents Association Fees pay for?

 

Snow Removal Contract

-     Removal of snow from the SRA Pathways

 

Landscaping Contract

-       Entrance Features

-       SRA Planters

-       Traffic Circles

-       Removal of SRA Garbage’s

-       Grass Mowing

-       Weed Control

 

Irrigation Contract

 -       Water the grass around the pond & pathways

 

Management Contract

 -       Collection of annual fee from Owners

-       Negotiating Contracts

-       Assist in the annual review of Insurance requirements

-       Paying our bills, taxes, water bill, etc.

-       Attendance at Board Meeting and Annual General Meetings

-       Maintain legal filing requirements

-       Preparing Monthly Financials

-       Operating Fund

-       Reserve Fund

-       Professionally Manage our money and property.

Once you have taken ownership of your property from the Builder the Residents Association Fees will be applied and be retro-active to your sale date and you are responsible to ensure payment of the fees in a timely fashion to avoid legal collection.

If you have taken ownership from a resale, the Residents Associaiton Fees will be adjusted by your legal counsel for the year. Please note that you are responsible to ensure the prior fees have been paid otherwise they are transferred to you the new owner.

If you do not receive an invoice with in the first 30 days of your ownership please contact Simco Management (Calgary) Inc., at 403-234-0166 or email:  silverado@gmail.com

Thank you.

Siverado Residents Association