1. The Time Share Owners will not be paying the Capital Initiation Fee (CIF).
Why? The POA Board has chosen a method that makes it unfeasible to collect any meaningful CIF money from the Time Share Owners.
Does their action pass the smell test?
2. The Time Share Owners will be casting their votes in the coming CIF election.
3. All of the Time Share Owners will be voting YES in the CIF election.
4. The POA Board needs as many yes votes as possible, as the Big Canoe elections are normally very close.
5. The Time Share Owners may provide the POA Board with the votes they need to win the CIF election.
6. If the POA Board had wanted to, they could have chosen a CIF funding method whereby everyone would pay their fair share, including the Time Share Owners.
7. The POA Board could have chosen the monthly assessment fee (increase) method to fund the Capital Reserve Fund (CRF) so that everyone pays.
8. The developer has always been against monthly assessment fee increases.
9. Therefore, the POA Board didn’t choose the $40.00 monthly assessment fee increase for funding the CRF.
10. Now, do you understand why the Time Share Owners won’t be paying the Capital Initiation Fee?
11. Everyone should pay their fair share of the CIF; the Time Share owners should not pay zero (or even next to nothing).
12. Vote NO in the CIF election, and tell the POA Board to increase the monthly assessment fee so that everyone pays their fair share. It’s only fair.
6 users commented in " Time Share Owners will not be paying the Capital Initiation Fee! "
Follow-up comment rss or Leave a TrackbackLet’s see…..if monthly assessments are increased to catch the Time Share owners then all current property owners will see a significant increase. There will be almost no impact on the developer.
If the CIF is voted in the developer will pay millions on the sale of his lots and homes. This provides funds that property owners won’t have to pay. Which do you favor?
Forget the developer. Let’s look at my situation.
Correct me if I’m wrong.
A $40 monthly assessment increase equals $480/annually and will cost me $4800 if I live here 10 years.
A 1% CIF on my $500,000 house will cost me $5000.
I don’t plan to live here 10 years (most people don’t); won’t a $40 monthly assessment increase be much cheaper for me? And isn’t the CIF an even worst deal for me if I factor in any house price appreciation.
Please give me the $40 monthly assessment increase.
And as an added benefit to the community, wouldn’t the monthly assessment fee increase require that the time-shares owners pay their fair share also? Just asking.
Why would the board be seeking time share votes for a CIF if the option desired by most property owners is to raise monthly assessments by $40. They can do that without a vote.
Thanks, Big Mac.
The POA Board President says that the Time Share properties/owners will not be required to pay the Capital Initial Fee.
Therefore, if you want to defeat the Capital Initiation Fee, you must overcome the Time Share properties/owners block votes.
How many votes do the Time Share properties/owners have, Just Asking?
Someone posted that there were 70. Does anyone know how many votes the developer has? Is it more than 70?
Someone posted that there were 70 votes, for just “one” of the Time Share properties.