There has been a lot of talk and posts regarding this capital fee. To me it is clear and obvious that you should vote NO. Here is why,
1 The current board has the Nerve to tell you that Sconti is on budget. Now I was not an accounting major but I know that we voted a fee for us to build Sconti , got money thru an accident, and spent that money too. Without so much as a by your leave. The board will tell you they talked to people in the community. They didn’t talk to me . Did they talk to you? Did they hold an open meeting with a new plan? Any board that says “we are on budget does not deserve one thin dime of my money to cover their over spending.
2 The fund is movable. If the board does not get enough money they can change the percentage. So for now they are trying to raise money to do things using a method that does not insure a steady flow of funds. Therefore any short fall will be covered by more debt or a raising of this fee. Given the current boards history I cannot imagine giving them a blank check like this.
3 In this current real estate market we in Big Canoe are feeling the pinch. This pinch is likely to continue into next year which almost guarentees a short fall in funds.
Let’s be clear about something. We all want a beautiful and good Big Canoe. If we need to spend money then we need to do it. But this board has shown itself to be woefully incompetent in controlling spending. Giving them the ability to spend more is in my opinion insane. I beleive if this board is really concerned with the community they should admit their mistakes have a special election and step down. Only then with a new board and AUDITING controls can confidence be restored and we move forward
4 users commented in " Capital Fee, Why you should vote NO "
Follow-up comment rss or Leave a TrackbackThe Capital Initiation Fee is the most effective way to establish a separate acountable fund for future capital facilities needs.
To add to the existing PIOA monthly assessment is pure folly and will drive buyers and existing owners out leaving a plethora of vacant, unoccupied, properties that contribute no revenue to operate.
Further if this differences of opinions grows any larger in public awareness, the drop in outside interest in buing in Big Canoe will grow to disaterous proportions.
“if this differences of opinions grows any larger in public awareness, the drop in outside interest in building in Big Canoe will grow to disastrous proportions.”
Welcome to the world-wide-web. Do you suggest that we hide our financial problems behind the closed gates of Big Canoe?
There is a disclosure problem here. All Big Canoe realtors should be telling new Big Canoe homebuyers of the ins and outs of this new “adjustable-rate” Capital Fee. Realtors can’t hide it from the outside world.
Bert, I can’t imagine the frustrations of being a realtor at this time. You were probably fortunate enough to have the foresight to save some nuts for a “lean winter”. I just hope these poor kids with families selling real estate have done the same…they’re kids who probably haven’t seen this.
If it were only as easy to blame the differences of opinion on the lack of interest. Instead it is probably more likely the macro economy, the overall real estate bubble burst and high energy costs that bode poorly for rural communities as ours.
The continued destruction of wealth will mean that the second home market dries up even more significantly. The rentals market up here is in a major downturn according to numerous friends who own rentals here. I just heard yesterday of a fella going belly up who owns 7 properties here all going into foreclosure. The downturn extends for several years complicated by the fact at some point soon the Fed will have to raise interest rates to combat the inflation we see everyday.
The pure folly would be to act before the dust settles on the recent improvements. I keep asking myself WHY would the board be so insistent to ram this through…do they know something that they don’t want to share with the rest of us??? I don’t know but this doesn’t make sense in my gut.
Best of luck to you Bert!!
Yesterday, I met a couple who built a new home this year in North Georgia (not Big Canoe). Their first choice was Big Canoe, until they were told of the monthly fees. They were shocked to hear of the new proposed fees. It is clear that the POA Board is destroying Big Canoe’s property values.