The Capital Initiation Fee and the Developer:

  1. Will the buyers of the Developer’s Big Canoe properties be required to pay the full 1%+/- Capital Initiation Fee (CIF)? If no, why not?

  2. Will the buyers of the Developer’s future properties (located outside the main gate of Big Canoe) be required to pay the full 1%+/- Capital Initiation Fee (CIF)? If no, why not?
  3. Is there “any” possible reason whereby the buyers of the Developer’s Big Canoe properties won’t be required to pay the full 1%+/- CIF? If yes, what are the details?Are there any agreement documents/s (Memorandum/s of Agreement or other legal documents) between the POA Board and the Developer in reference to, or relating to, the CIF? If yes, will the POA Board make all of these documents available to the property owners?

The Capital Initiation Fee and the Time-share Owners:

  1. Will the buyers of a time-share in the Time-share properties be required to pay the full 1% +/- Capital Initiation Fee (CIF)? If no, why not?
  2. Is there “any” possible reason whereby the buyers of a time-share in the Time-share properties won’t be required to pay the full 1%+/- CIF? If yes, what are the details?
  3. To the POA Board’s knowledge, are there any agreement documents/s (Memorandum/s of Agreement or other legal documents) between the Time-share Association and the Developer in reference to, or relating to, the CIF? If yes, will the POA Board ask the Developer to make all of these documents available to the property owners?

Disenfranchised Big Canoe Residents:

It seems confusing to me that we have apportioned a huge amount for Capital investments (amenities package), collected the insurance (fire at Sconti), and increased POA monthly fees and now again, there is the issue of collecting 4K from new property owners and Big Canoe’rs who decide to move within Big Canoe.

I guess I don’t understand the major premise behind this fee. I would also like to see a table of projected POA monthly fees for the next 10 years. I would like to know there is considered planning involved and not just fee raising du jour. Many people in this community are on fixed incomes and love where they live. I would hate to see a day when these individuals who have built the spirit of Big Canoe find themselves disenfranchised due to fee increase.

Marie L. Loscavio
loscavio@cognova.com

The various “facts” posted on this site (*ed. - 4kfee.com) are confusing:

  1. One states that the cost of the clubhouse increased from $5M to $10M. Another states it increased from $4M to $12M. There must be documented original and current costs. What are the facts? What caused the increases?
  2. Was there a vote by the Board?
  3. How many are required to pass an increase? It is hard to believe that two votes can pass an increase.
  4. How many voted to approve the increases?
  5. Why would the developer vote for this fee? Wouldn’t he pay for each of the 2,000 homes to build out? If they average $500,000 isn’t it better for the developer to pay this $10M than for property owners to pay it?

Explain the numbers:

In reading Questions and Answers published by the LTFC, I am confused by some of the expenses earmarked for Capital Improvements that should be paid by a Reserve for Replacement. If the POA assessed only $10.00 per month per resident, almost $300,000 per year could be Reserved for Replacement. Has this been considered?

An Impact Fee is a fee implemented by a local government (Big Canoe POA) and paid by new construction. It is used to pay for new services required or the diminishment of a community’s existing services that occur as a result of new development or construction.

Every time Big Canoe LLP opens a new neighborhood, it has an immediate as a long-range impact on our community. A “Road Impact” fee is a small portion of the overall impact. Has LTFC taken this into consideration and seriously considered implementing this fee on any new construction?

POA Budget and related Sconti clubhouse questions:

  1. If an initiation fee, or any other term used to generate new funds, is approved, will disbursement of those funds (project selection) be determined by the POA board or the membership?
  2. Why should POA board not be required to pose new projects to membership and convince membership on the need for such expenditures, one roject at a time (Much was lost in the all or nothing approach on the current special assessment)?
  3. What items, currently included in the POA budget, would be proposed for payment from the proposed ‘initiation fee’?
  4. How was the 1% fee level determined? It would appear most are at the 0.5% level. I’m guessing someone at the POA is guessing (without bids) that the 1% will generate at least $1M per year for projects determined by the board.
  5. Did the board assume a majority of the membership agreed with their decision to use the Sconti fire insurance proceeds to expand the Sconti project beyond the scope voted by the membership?
  6. Why was the Sconti fire proceeds not used to pay down long term debt?
  7. New Sconti is going to be a gorgeous facility. Does anyone on the board believe it will at least break even?

A good faith response:

Will the LTFC really look at these questions AND make a good faith effort to answer them? While some of the questions touch on subjects in the existing FAQ, it seems like people are looking for clarification, and not “Read the FAQ!” type of response.