Annual Report
La Concorde Condominium Association
May 2024 through May 2025

Greetings La Concorde Association members!

The past year has been rather “boring” in terms of significant building items as we continue to focus mostly on fairly routine maintenance and repair with really nothing out of the ordinary.  The safety and security of our community remain a top priority for this Board as we are constantly striving to improve and bring peace of mind to our residents. The lack of, or minimal issues resulting from the annual inspections from State and Local authorities for building mechanical, electrical, HVAC, conveyance, and fire safety is fully in line with our aggressive approach to building operation, maintenance, and preservation.

While we continue to achieve among the highest ratings from the Energize Denver initiative, it is worth noting again that building energy usage data will presumably be utilized as they establish future targets for energy use and efficiency. Stand by…

On a positive note, residential real estate values in the Denver market appear stable and the Capitol Hill area in particular continues to attract new buyers.  Overall, we have not seen quite the same level of property value appreciation as in previous years, but given the onerous interest rate environment, it is certainly not unexpected.  There are likely other issues that factor into the valuation plateau but hopefully, things will improve going forward.

Finally, while inflation and unforeseen issues made it necessary to previously add modest increases to the monthly HOA fees, it became apparent earlier this year that without a more substantial increase, the Association would be in a position of continual deficit spending.  While this is not unusual for government spending, we do not have the option of “printing money”.  We believe the increase is right-sized based on analysis of past financials, and this Board remains committed to every member of the La Concorde Condominium Association in terms of delivering the greatest value for dollars spent and the strongest financial health.

On behalf of the Board of Directors, I would like to extend a warm welcome to our newest residents and Association Members, and once again wish all members of the La Concorde Condominium Association a healthy and prosperous year ahead!

Thank you and take care,

Arnie Neiss, Board President

La Concorde Condominium Association