The Cornerstone Homeowners Association (HOA) is mandated to ensure the long term sustainability of the community of Cornerstone. By contributing to the development of a sense of community and responsibility amongst neighbours towards the physical attributes of the community, membership in the HOA is granted through an encumbrance on title for each homeowner in Cornerstone. Annual fees will be established each year and billed to each homeowner. HOA funds will be used for the administration, maintenance and beautification of the assets of the HOA.
The HOA is managed by an elected, volunteer Board of Directors who are responsible for administering decisions related to the goals of the HOA. Management of the daily operations of the HOA may be contracted to a third-party provider.
The annual fee is $50.00 plus GST ($52.50).
The obligation to pay the HOA fee is registered on all Cornerstone residents’ certificates of title by way of a restrictive covenant. It is your responsibility as a member of the Cornerstone community to ensure your fees are current and up-to-date.
The HOA fees pay for general maintenance of the community that is not covered by the City of Calgary municipal programs. This includes:
- The ongoing maintenance of parks, boulevards, entry monuments, structures, and public facing fences, should the HOA determine that the City of Calgary is not maintaining these amenities to the level desired.
- Maintaining facilities which the City of Calgary has not assumed ie. entry signs.
- A capital reserve fund to add new or repair existing amenities should the city choose to remove rather than repair.
- Administrative, audit and legal fees associated with all work and the HOA.
The HOA bylaws can be found below for a detailed list and other information pertinent to the HOA and the community.
The HOA will send out invoices for the annual fee on or before April 30th of each year. The first year of your HOA fees are paid for at the time of closing of your home. Residents will be responsible for paying HOA fees starting the following year. For example, if you took possession of your home in 2017 you will be required to pay directly to the HOA in 2018.
You can pay your HOA fees with the following options:
1. Yardi Café PortalTM provides owners with secure access:
a) to view account information and statements
b) to submit online fee payments
Homeowners are required to register online and follow the steps to register:
a) Go to “Homeowner Association” tab on top menu bar
b) Use drop down menu to select “Make a Payment”
c) Select “Make a Payment/Register”
d) Returning users please sign in using your email and password previously created
e) New users – please contact Trina Hook at firstname.lastname@example.org for assistance
2. Cheque or money order made out to “Cornerstone Homeowners Association”. You can mail or drop off at #202, 150 Edwards Way NW, Airdrie, AB T4B 4B9.
The financial year runs from January 1st to December 31st, resetting each calendar year. The
HOA fees are to be paid between April 1st and August 31st.
The fee is required following the year of the purchase. For example, if you took possession of your home in 2017 you will be required to pay directly to the HOA in 2018.
The principal amount plus interest at 18% per annum will accrue on the property. At the time your
home is sold, unpaid fees to the HOA will be deducted from the sale proceeds.