By Greg Ellison

(Aug. 6, 2020) After granting property owners a 90-day extension to pay annual assessments due on May 1, the Ocean Pines Association remained roughly $1.1 million short of more than $9 million due from membership by the Aug. 1 deadline.

OPA Treasurer Larry Perrone said about 87 percent of approximately $9.4 million due in assessments was received as of the final day.

“It’s actually better than we thought it would be,” he said.

Perrone said the number of association members pursuing payment plan options remains unknown.

“We’re expecting that more people will get onto the payment plan or … just haven’t gotten around to paying it,” he said. “I’m still checking into see how many people have applied for payment plans.”

Perrone said interest charges would begin accruing on the unpaid assessments starting Aug. 2.

“The interest rate is at 6 percent by our bylaws,” he said.

The remaining million plus dollar deficit for annual assessment fees represent a larger shortage than in previous years.

“It’s close, but we’re normally around 99 percent so it’s a little bit of a gap,” he said.

Perrone said in light of heath-safety mandates imposed because of covid-19, and with more members likely to make use of payment plan options, firmer figures are anticipated by the fall.

“We’re really not even trying to forecast at this point what’s going to happen until after the season’s over,” he said.

Perrone said once warm weather revenue figures for amenities are in hand any remaining gaps in assessment dollars could be reexamined for bottom line impacts to the OPA annual budget.

“I’m hesitant at this point to analyze any of that because it’s still too volatile at this point,” he said. “We’ve got another month and a half before we even look at it.”