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Old 08-26-2021, 07:42 AM   #30
Shreddy
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Originally Posted by KDDS View Post
A couple of years ago the BOD spent over $150,000 drilling a test well on a community owned parcel, and then tried to secure a $1.2 million bank loan to build a community well & pump house using community assets as collateral. As it turns out, the wells were going to be located in an area that some waterfront homeowners have septic easements on. These homeowners were approached after the fact and asked to release these easements. They said NO, scuttling the project. Also, during the bank financing application process it came up that the bank felt that the BOD does not have the right to sign for loans on behalf of the membership and rejected the loan (costing $4K+ in lost application fees). It turns out that a 2/3 majority membership vote is required before the BOD can take out mortgages using Suissevale assets as collateral. After this decision the BOD tried to change the bylaws to allow them to do this, and they were pressured into rescinding their positive vote since again, they did not have the membership vote on the bylaw changes. Community money was wasted, and the BOD seems to think they can make these types of unilateral decisions with no member input. The entire process was seemingly brushed under the carpet and many members are not aware that it happened.
You do realize this was broadcasted at each meeting during the process and the project was sought out for the benefit of the members understanding the water expense is the largest cost in the budget, correct? You act like the BOD was attempting to do something that was for self interest when reality was they were seeking a long term alternative to CONTINUE providing water to members as part of the annual dues, which is nominal itself. One of the largest benefits of being in Suissevale is not having metered water and having Suissevale foot the cost. Go look at the P&L and the budget which is available to everyone despite what Jim Graham has stated above.
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