12-31-2016, 05:28 PM
We expect that the roads will be maintained and built according to a fee scheduled that was calculated using the sheer size of one of the largest subdivisions in the country containing over 8000 lots and bringing a revenue of almost 2.5 million per year. BTW, a subdivision with 0 infrastructure. If there is no money to cover the obligations this association HAS towards its members it is because:
Serious mismanagement
Lack of business accumen
I would be very cautious to take seriously any fantastic projections of what it would cost us to get rid of this highly ineffective and thoroughly devious association. Nothing beats the scare mongers that pull exorbitant figures out of thin air to paralyze the bejeesus out of those sitting on the fence. To suggest that we ought to pay 4 times what we are paying now in fees and to have a special assessment of thousands of dollars is a good argument to show that the association was a flunk to start with. The truth is that no one here knows what even the bond contract reads, coconut wireless info does not qualify as fact. For crying out loud the Finance committee is a joke and the Board approves large purchases because the GM has a tantrum? Are they doing the best they can with the "little money" they have to work with? No they are not. Read the bylaws for God's sakes, 80% of all that verbosity is dedicated to list mounds of bureaucratic bs. Only article IV describes the duties the association has,just a few lines in a sea of exquisite bull manure. How many out of those eight sublime points has the Board delivered in the last few years??
The more I hear off the chart arguments that we have to come up with yet more money or the end if the world is near if we actually act on this disgraceful state of affairs, the more inclined I am to support bankruptcy. It will force an audit, full financial disclosure,put the Board where they belong, a court appointed administrator and the bondholders will get the money held in association bank account to liquidate the debt. We will get a clean slate, no more politics being played with our money and a chance to reorganize to finally build and maintain our roads...just like that wonderful master plan describes.
jdo
Serious mismanagement
Lack of business accumen
I would be very cautious to take seriously any fantastic projections of what it would cost us to get rid of this highly ineffective and thoroughly devious association. Nothing beats the scare mongers that pull exorbitant figures out of thin air to paralyze the bejeesus out of those sitting on the fence. To suggest that we ought to pay 4 times what we are paying now in fees and to have a special assessment of thousands of dollars is a good argument to show that the association was a flunk to start with. The truth is that no one here knows what even the bond contract reads, coconut wireless info does not qualify as fact. For crying out loud the Finance committee is a joke and the Board approves large purchases because the GM has a tantrum? Are they doing the best they can with the "little money" they have to work with? No they are not. Read the bylaws for God's sakes, 80% of all that verbosity is dedicated to list mounds of bureaucratic bs. Only article IV describes the duties the association has,just a few lines in a sea of exquisite bull manure. How many out of those eight sublime points has the Board delivered in the last few years??
The more I hear off the chart arguments that we have to come up with yet more money or the end if the world is near if we actually act on this disgraceful state of affairs, the more inclined I am to support bankruptcy. It will force an audit, full financial disclosure,put the Board where they belong, a court appointed administrator and the bondholders will get the money held in association bank account to liquidate the debt. We will get a clean slate, no more politics being played with our money and a chance to reorganize to finally build and maintain our roads...just like that wonderful master plan describes.
jdo
jdo