Comments on: Why not sell Big Canoe’s money losing amenities to a private company? http://4kfee.com/every-thought-counts/why-not-sell-big-canoe%e2%80%99s-money-losing-amenities-to-a-private-company/ What are your thoughts on the proposed fee? Sun, 20 May 2012 19:25:42 +0000 http://wordpress.org/?v=2.5.1 By: Jim Elliott http://4kfee.com/every-thought-counts/why-not-sell-big-canoe%e2%80%99s-money-losing-amenities-to-a-private-company/#comment-310 Jim Elliott Fri, 18 Jul 2008 21:16:28 +0000 http://4kfee.com/?p=111#comment-310 Thinking outside the box. Please forward your post to Smoke Signals Online so that it can be published in Smoke Signals. Convert it to an Op-Ed piece. Use your name or it won't be published. Thinking outside the box.
Please forward your post to Smoke Signals Online so that it can be published in Smoke Signals. Convert it to an Op-Ed piece. Use your name or it won’t be published.

]]> By: Jim Elliott http://4kfee.com/every-thought-counts/why-not-sell-big-canoe%e2%80%99s-money-losing-amenities-to-a-private-company/#comment-309 Jim Elliott Fri, 18 Jul 2008 21:11:17 +0000 http://4kfee.com/?p=111#comment-309 Great idea but lease, not sell, the amenities to an operator. The POA retains ownership and some control over the lessee. Remember that the lessee of Stone Mountain Park wanted to turn it into another Dollywood. I'll bet the amenities would turn a profit in no time. What would happen if we leased them to the existing manager of each individual amenity? Great idea but lease, not sell, the amenities to an operator. The POA retains ownership and some control over the lessee. Remember that the lessee of Stone Mountain Park wanted to turn it into another Dollywood. I’ll bet the amenities would turn a profit in no time. What would happen if we leased them to the existing manager of each individual amenity?

]]> By: Tennis Only http://4kfee.com/every-thought-counts/why-not-sell-big-canoe%e2%80%99s-money-losing-amenities-to-a-private-company/#comment-308 Tennis Only Fri, 18 Jul 2008 18:56:22 +0000 http://4kfee.com/?p=111#comment-308 Well yes with some caveats…first the cost of amenities would quadruple to the users who are currently getting almost a free ride at the expense of others. Second but probably should be first you would have to guarantee that whomever buys the amenities would never be able to sell them to anyone including a developer without property owner approval…and not a simple majority…it would have to be close to 100% percent approval. Otherwise they could sell it to another unapproved management company and second they could sell it to another developer and the amenities could be erased to put high-density housing in. Of the cuff…never will happen. I think the management company with POA retaining ownership is still the better idea…after I leave. Well yes with some caveats…first the cost of amenities would quadruple to the users who are currently getting almost a free ride at the expense of others.

Second but probably should be first you would have to guarantee that whomever buys the amenities would never be able to sell them to anyone including a developer without property owner approval…and not a simple majority…it would have to be close to 100% percent approval. Otherwise they could sell it to another unapproved management company and second they could sell it to another developer and the amenities could be erased to put high-density housing in.

Of the cuff…never will happen. I think the management company with POA retaining ownership is still the better idea…after I leave.

]]> By: Just a Resident http://4kfee.com/every-thought-counts/why-not-sell-big-canoe%e2%80%99s-money-losing-amenities-to-a-private-company/#comment-299 Just a Resident Wed, 16 Jul 2008 23:50:15 +0000 http://4kfee.com/?p=111#comment-299 Personally, I think this is an excellent idea if we could find a sucker. The average resident has no idea how much we are subsidizing our amenities. According to the May, 2008 financial statements, it looks like this year to date: Food & Beverage ($146,838) Golf ($78,577) Fitness $14,141 Tennis ($8,764) Swim ($62,892) Lakes and Marina $20,045 Numbers in () represent a subsidy! In response to these losses, we have raised the rates for the golfers by 5.56% and increased the cart rates by $1.00. Remember, we also spent $285,000 for new carts. Fitness, for a couple, goes up 4.17%. Don't know what happened with Tennis. Swim, for a couple, goes up 3.76%. Everything at the Marina goes up 50%. Add it all up and we are subsidizing the amenities by $262,894 through May. But all is not bad news! Our budget was a subsidy of $283,344. Thus, if we apply a creative spin, we actually made $20,450! And this is only through May! Clearly, there is no reason for increasing the rates at the Fitness Center or Marina, except that this will provide an additional subsidy for the losers. We have had golf that has required a subsidy for over 30 years and a restaurant that has never come close to breaking even for the same period of time. I believe that if those who want and use these facilities are unwilling to pay for them, they have no reason to expect that the rest of the residents should kick in for their entitlement. Personally, I think this is an excellent idea if we could find a sucker. The average resident has no idea how much we are subsidizing our amenities. According to the May, 2008 financial statements, it looks like this year to date:

Food & Beverage ($146,838)
Golf ($78,577)
Fitness $14,141
Tennis ($8,764)
Swim ($62,892)
Lakes and Marina $20,045

Numbers in () represent a subsidy!

In response to these losses, we have raised the rates for the golfers by 5.56% and increased the cart rates by $1.00. Remember, we also spent $285,000 for new carts.

Fitness, for a couple, goes up 4.17%.

Don’t know what happened with Tennis.

Swim, for a couple, goes up 3.76%.

Everything at the Marina goes up 50%.

Add it all up and we are subsidizing the amenities by $262,894 through May. But all is not bad news! Our budget was a subsidy of $283,344. Thus, if we apply a creative spin, we actually made $20,450! And this is only through May!

Clearly, there is no reason for increasing the rates at the Fitness Center or Marina, except that this will provide an additional subsidy for the losers.

We have had golf that has required a subsidy for over 30 years and a restaurant that has never come close to breaking even for the same period of time. I believe that if those who want and use these facilities are unwilling to pay for them, they have no reason to expect that the rest of the residents should kick in for their entitlement.

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