Often, we find that Las Colinas residents aren’t aware that Las Colinas Association is not an HOA, but instead a Property Owners Association (POA). LCA’s membership goes beyond residents and includes commercial property owners. Our departments, Administrative Services, Security and Patrol, Property Compliance, Community Relations and Marketing, Common Property and Architectural Control Committee carry out many functions to make sure that Las Colinas standards are held throughout the community, property values are protected, and members are informed of matters that may affect them. It is important to know the impact our commercial members have with their annual assessments. Commercial property owners pay approximately 47% in assessments.
Annual assessments paid to LCA are used for 24/7 security patrol and alarm monitoring, beautification costs to maintain the common areas and aesthetic standard for which Las Colinas is known for. Within beautification costs are functions like litter control which averages to around 16 bags of trash collected per day, maintenance of areas outside the neighborhood villages such as the right of ways, medians, various parks, and the signature landmark, the flower clock. Combined, these areas amount to over 462 acres. Property Compliance and Plan Review are devoted to proactively protecting property values. Additionally, LCA publishes and produces a bi-monthly newsletter and restaurant guide.
All Las Colinas Association members pay annual assessments but the majority of residential members pay two association assessments: Home Owners Association assessments and Las Colinas Association annual assessments. The dollar amount of HOA fees vary. For example, some HOA fees might be based on the appraised value of the property or they might be based on square footage of the home/condo. Each individual HOA’s assessments are determined annually by their Board of Directors, and are used to maintain that neighborhood’s common property (brick perimeter walls and monument signs, for instance).
While HOA assessments and due dates vary per individual community, typical LCA annual assessments do not. Annual assessments are due July 1st of each year. LCA, guided by the Master Declaration, began collecting assessments from property owners in 1975. How much are annual assessments? Currently, annual assessment rate is at fourteen cents ($0.14) per one hundred dollars ($100.00) of the appraised market value from the prior year. Annual Assessments are paid by all commercial and residential property owners in Las Colinas.
Our acreage, number of members and the unique commercial/residential mixture of members make LCA a property owners association. LCA and neighborhood HOAs both share the common goal that we work hard to make Las Colinas the world-renowned master-planned community where people want to work and live in.
