Wonder if the developer votes for this even with his reservations
“The developer would like to acknowledge the tremendous efforts made by the board and the leadership of Bob Crouch, the Long Range Planning Committee, the Long Term Finance Committee, as well as GM Roger Klask who together with board committees have worked tirelessly in formulating this capital fund initiative. Having said that, the developer, while supporting these efforts, and taking into consideration the current real estate market downturn, would have preferred to start at a lower rate, place a cap on the amount and have a six-month delay in its start. Nevertheless, the developer will vote in the affirmative in solidarity with other board members to have this go to property owner vote.”
In my opinion the divisions in this community have been created by this and the previous divisive Board. I fear this is the rallying cry for the silent many to become engaged. It is a shame. The community must be in such dire straits financially that the board needs this proposal desperately. We have truly been mis-managed.
We need a financial audit desperately.
The Board states the years of work that went into this, so it leads you to believe they have known of the coming shortfalls. In that time they have continued to spend on needless projects and unneeded clubhouse revisions.
The “Go-Go Real Estate Days” are over.
Now we not only have a deteriorating macro econony, but the beginning of a devastating real estate downturn (yes this is just the beginning). The credit crisis has another leg down. Higher energy prices and ensuing inflation are no friend to the rural community. Eventually higher interest rates will need to be put in place starting most likely after the election.
So we are either in deep trouble financially or the Board continues its arrogance and failure to recognize this proposal at best is a win/lose proposition…they win, the proposal passes, the community will suffer…I feel for the hundreds of people trying to sell their home…
Also get ready for the scare tactics by the Board (raising fees, assesments, etc) and the countless attempts by the “go along to get along crowd” to vote for this proposal. They will bombard the community with propaganda. (memo to the scribe that has opined telling us ‘It’s not what we are’…what this Board represents is not who I am).
2 users commented in " Board votes to levy 3/4 of 1 percent capital initiation fee "
Follow-up comment rss or Leave a TrackbackOnce again we see how the POA Board reacts to Big Canoe citizen criticism by their ramming thru their EXIT fee payment plan on those who wish to sell their homes and lots to outsiders in Big Canoe.
I , along with others , have spent some time at the Post Office in the Village soliciting signatures on petitions from our residents. The one that gets the most interest is NBR 3 which has to do with NOT passing the Capital Reserve item until every option and alternative has been thoroughly vetted. I would venture to say that of those who passed our way, easily 60-70 percent were against the POA method. Of course there are some who would not sign for personal reasons such as working for the POA or they knew a Board member well but support was there.
There is no logic in attempting to justify charging an incoming resident for the “privilege” of buying in to Big Canoe’s facilities because others had already paid for the what was already there. I would ask how much our Board members, most of which are fairly new to the community, were charged up front for their enjoyment of the amenities.
The source of the dollars the POA wants to fund the CIF in this manner is wrong and lacking the numbers. Instead, why not a simple $20 a month assessment from all residents for the CIF?
Exclusive of whatever the nbr of lots are in Big Canoe, there are about 2400 homes and at $240 a year this would equate to $576,000 per year alone. This would be something to count on and would not discourage prospective buyers of resale houses(and turn them into Big Canoe Realty lot buyers to escape the major burden of the POA Board 3/4% fee.
It appears to me, from info provided me by a realtor, that there were 39 closings of properties( including lots) during Jan-Jun 2008. If you assumed that all were house at $500,000 each you would be looking at less than $200,000 for the CIF. What do you figure chances are for the balance of 2008 and 2009 in view of market conditions. Ask any realtor who doesn’t work for BC Realty.
Soon you all will have a chance to vote for the CIF. Educate yourselves.
I was for the CIF as per the survey and was one of the 539 people that voted yes.
Based on what has transpired since then puts my 3 votes solidly in the NO
box.
From what I see it’s clear that the Board has told the concerned citizens that we hear you and don’t believe you represent more than a handfull of property owners and don’t need your input!
As I see this fee, it’s nothing more than an exit fee and everyone in Big Canoe at one time or the other will have to pay it. IF we believe that a new buyer will pay the fee, then we also believe in Big Foot, Santa Clause and lots of other make believe charaters.
Make no mistake everyone will have to pay this fee at one time or the other. We all will leave Big Canoe because of our jobs, family concerns or health reasons or on a stretcher. No purcher will open his purse strings and say “oh of course I’ll be happy to pay the 3/4 of 1 percent fee, no problem” I truly believe the Board believs this and that’s a shame as it is NOT TRUE and the realtors know it and have said it for months since the subject came up.
I would encourage everyone to sign the petitions and lets take back Big Canoe from this out of control Board.
The Mayor