SPECIAL ASSESSMENT & BYLAW AMENDMENT BALLOT RESULTS
Posted By rhart on December 19, 2018
A ballot was distributed in August requesting your approval of a one-time special assessment in the amount of $620.00 per homeowner to complete the final phase of the repiping project and approval of some common sense amendments to the Bylaws that would eliminate quorum requirements for elections and require that Board members be members of the Association. Approval of the special assessment and Bylaw amendments requires that 51 of the 100 homeowners vote in favor of it. After multiple attempts to get a sufficient number of ballots from homeowners, a special membership meeting was held on Thursday, December 6, 2018, at 7:00 P.M. at the Clubhouse to open these ballots. A total of 72 ballots were received, and below are the vote counts for each ballot measure:
|Ballot Measure||Votes in Favor||Votes Opposed||Abstained||Results|
|Approval of $62,000.00 special assessment to fund third phase of repiping project ($620.00 per homeowner)||48||23||0||Failed|
|Bylaw Amendment – Elimination of quorum requirement [Article III, Section 3.05(a)]||52||16||4||Passed|
|Bylaw Amendment – Director qualifications and term of office [Article V, Section 5.02]||56||11||5||Passed|
The proposed special assessment failed and the two Bylaw amendments passed. It was communicated to the homeowners by the Board that failing to approve the special assessment would result in an increase in the monthly assessments in 2019, as this is the only other source of income the Association has. The repiping of the community has been funded completely through the Association’s reserves since a loan was not approved by the community. This has reduced the Association’s reserves to a very low level. In order to begin to rebuild the Association’s reserves so that the last phase of the repiping can be completed as soon as possible, in addition to funding other major maintenance and repair projects that are needed, the Board of Directors has voted to increase the assessments in 2019. Please refer to the mailer that was distributed showing what the variable assessment rates will be effective February 1, 2019. The overall increase in the assessments is 10%.
A copy of the approved Bylaw amendments can be viewed and downloaded on the Resident Portal.
We appreciate everyone who took the time to vote and especially appreciate homeowner Tom Palmer, who opened and counted the ballots. Should you have any questions about the increase in the assessments or the Bylaw amendments, please attend the next meeting of the Board of Directors.