At the January 2023 Board meeting, the Directors approved a motion to increase the Association’s Membership Fee. This fee (at times referred to as the “Share Price”) was raised to $10,000 in 2003. In the ensuing 20 years, property values in greater Dockton increased by more than 150%, based on County tax assessments. The accumulated Capital Improvements to our water system have more than doubled. And, the CIP measure of inflation in the Seattle area is up by 66%.
The Membership Fee goes directly into our Capital Improvement Fund (not Operations). We have made a number of capital improvements that new members will benefit from, including the very large investment in the Filtration Plant to enhance our secondary water source, Sandy Shores Well. Plus, water main upgrades and investments to support fire suppression (hydrants and pumps) and new shallow wells at Dockton Springs to name a few.
New Membership Fees we receive will support new investments that the new members will also benefit from.
The Membership Fee, currently $10,000, will increase to $15,000 on July 1, 2023 and then, on July 1, 2026, it will increase to $20,000. This change only applies to new memberships — new first-time members and current members buying a new membership in order to have an additional share. It does not affect existing memberships.
The Board also decided that the Membership Reimbursement Fee (also referred to as the “Share Buyback Price”) will remain at $10,000. This applies to existing members as well as new members.