What are your thoughts on the proposed fee?
From our By-laws:
“Beginning with persons elected at the annual meeting in December 2007, no director shall be an employee or contractor of the Association.”
In the last By-laws change/addition (as shown above), the Big Canoe POA Board made a special effort to keep their Board Directors from being POA Employees; but when they wanted to make [...]
The Big Canoe POA Board failed to do their fiduciary responsibility by building a $10,000,000+ restaurant after the property owners “voted” approval for a $4,000,000 restaurant.
If the POA Board had stayed within the property owners’ “approved” funding, the Capital Reserve Funding (Initiation) Fee would not be needed.
The Sconti Rebuild over-runs have placed the community in [...]
The current proposed 1% Fee is a 1% “ADJUSTABLE-RATE” Fee; in other words, this is a percentage rate that the POA Board will be able to change without getting re-approval from the property owners. Beware, the POA Board is not asking you for a fixed-rate fee, but an adjustable-rate fee.
Today’s 1% (an adjustable-rate) may become [...]
In response to the current Smoke Signals On-line article by Barbara Schneider: “Wide ranging issues covered at HOA board meeting - Questions for POA open lively discussion,” one POA Forum poster stated: “After reading the story it seems to me that a better heading would be, “Wide ranging issues skirted at HOA board meeting“.
She goes [...]
You are not only voting for a “1%” Capital Initiation Fee, but you are voting to create a new fee – the Capital Initiation Fee (CIF).
Once the Big Canoe property owners create a new fee, the POA Board has the discretion to raise it higher without re-approval of the property owners.
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 [...]
From the Smoke Signals - Online:
“Special guest Jan Landry, finance and communications manager for the Wild Dunes development near Charleston, S.C., spoke for 10 minutes about her experience in introducing a similar capital reserve fee in Wild Dunes in January 2002.
The measure passed with an 89 percent “yes” vote, and response has been almost uniformly [...]
For the “Wake Up Big Canoe” group and their question under Sconti complex - Did this get out of hand or what?
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From the article, “Big Canoe should hire amenities manager, Roger Klask says,” by Ann Dickerson, Smoke Signals, November 2007, Page 3A.
“Crouch asked board members to approve a document he wrote in response to questions [...]
I received the following information from a “highly respected” Big Canoe insider:
The real question is should we have a CIF or raise our monthly fees to cover the new amenities?
A CIF requires a vote of the property owners while the POA board could raise our monthly assessments to over $400 a month without any vote [...]
1. Are real estate agents fully explaining Big Canoe’s proposed 1% Capital Initiation Fee (CIF) and its possible financial consequences to “current” Big Canoe homebuyers?
2. Are real estate agents explaining to their buyers how the buyer might be required to pay the 1% CIF upon the resale of the buyer’s Big Canoe home?
3. Are real [...]
4kfee.com is designed to be an Open Forum for discussing the proposed Capital Initiation Fee in the Coummunity of Big Canoe. Some residents are for the proposal, some against, some are still undecided. Regardless or your position, you are encouraged to voice your opinion.
Keep in mind that these posts, comments, and links are the opinions of your friends and neighbors here in the Big Canoe Community, so please try to be civil. The comments and posts do not reflect the opinion of the site administrator. You are also urged to verify any information on this site.
Again, these are comments and opinions on the proposed fee and should not be considered fact unless you verify it yourself.
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