NEWSLETTER TO ALL ROLLING HILLS FAMILY MEMBERS
April, 2009.
A difficult year for us all has passed since the last news letter and although we see some improvement it appears that recovery will be a slow process. We have been fortunate in Cabo because the severe difficulties and declines elsewhere do not appear to have a major impact on Cabo. Yes, the economy has slowed down, but, yes we still had some 400 cruise ships visit us this season , and yes, the number of flights arriving each day still number around 40 plus, and yes, construction of new resorts, golf courses and infrastructure continues unabated.
Rolling Hills did not escape the downturn in the economy, but, relatively, we are doing well and we are steadily progressing with the construction and installation of the infrastructure including the fact that all new roads within the Project are now accessible. Unfortunately our rate of progress was substantially delayed due to the Government‚s indecision regarding the final layout of the new four lane highway which also resulted in delays by C.F.E., the electricity company, to provide us with a final plan for their power grid. While waiting for the decision making process, which we are advised should be completed soon, we have negotiated an agreement with C.F.E. whereby we are guaranteed sufficient power for whatever number of residences that may be constructed over the next few years. We overcame a major and costly challenge in the first four blocks to assure the required orderly and non damaging surface drainage flow, as in this area there is no natural drainage due to the topographical layout.
We are pleased to report that we are working with many lot owners regarding the design, planning and construction of their residences through the Rolling Hills Estates Technical Department. And we are confident that by this fall a number of these will be under construction.
With regard to the progress of the four- laning of the highway, although there has been a delay we understand this will definitely be restarted this year, and should be completed, to somewhere north of Rolling Hills, sometime next year. The same goes for the new road from the airport to Cabo which will enter the Cabo to Todos Santos and La Paz highway fairly close to Rolling Hills.
Within Rolling Hills we will continue to construct roads to finished grade level, as well as the underground facilities for electricity and telephone, both of which are proceeding slow but sure due to the nature of the terrain. As we progress we will be posting informative pictures on our website. Photo Gallery 1 - Photo Gallery 2
In order to better coordinate our various activities, we have combined our administrative office and our downtown sales office into a new location on Hidalgo street across from the Tesoro Hotel (previously Plaza Las Glorias), and we invite you to come and visit us here and at the site when in Cabo.
Most of you know from previous years, property taxes have been extremely low here. But as the local government is trying to keep up with demands for infrastructure placed on it due to growth and lack of past due diligence, there is a significant increase in this year‚s property taxes. However, related to property taxes paid in the USA, Canada and elsewhere, they are still very low. The other obvious reason they went up is due to increased operating and maintenance costs, and Rolling Hills is no exception. Security costs for gate and perimeter security to protect your property and ours on a 24/7 basis is costly as it requires 2 security guards on duty at all times, motorized transportation for them, as well as proper shelter. Maintenance of common areas, green areas, the perimeter fence, vehicles and other relevant equipment, have all seen an increase in cost. Another variable cost, based on the rainfalls in the hurricane season, is the necessary regrading of roads to ensure accesability to all lots. As in every other development these costs are shared equally by each lot owner, and the developer for the lots not sold to date. Based on last year‚s expenses, at a loss to the developer, the maintenance fees for 2009 have been raised to $300.00 per annum per lot, which is still extremely reasonable when compared to similar developments. Invoices for 2009 maintenance fees and property taxes will be mailed shortly for payment when received. We still have a limited number of lot owners who have not paid for their 2007 and/or 2008 invoices. These owners will have the opportunity to pay for same together with their 2009 invoices by May 31/09. If not received by then we will have to start charging interest interest at 10% from date of invoice in fairness to all those lot owners who have paid for these invoices when received. We thank you in advance for your cooperation in this matter.
This newsletter will also be posted on the website and we will attempt to be diligent and provide you more frequent updates and pictures.
For your information we are attaching some news reports about ongoing developments in our proximity on the Pacific side. The Polo Club development is right across the highway from Rolling Hills Estates and well underway. They will have their first annual tournament on May 1st. with teams from the U.S.A., Canada and Mexico.
If you have any comments or would like additional information please do not hesitate to contact me.
Cordially.
Henk De Goeij
Project Director/Legal Representative
Rolling Hills Estates
Tel: (624) 143-5041
Cell : (624) 129-7792
Fax:(624) 143-4212
From U.S.A.:
Tel: 1-480-626-7838
Cell: 1-480-290-8311
Fax: 011-52-624- 143-4212
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