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EHFJR

From An Ex-Board Member...

__________________________________________________________________________________ We wish we had a Crystal Ball to look into the future. Sometimes we have to look to the past to understand the future.


Our Golf Courses were supplemented by the developer before turnover. A few residents created a Golf Club and purchased the golf courses from the developer at turnover and tried their best to make a profit. Never did.


The HOA purchased the golf courses from PRGC. The Primary Loan, and the only legal loan, was $1,750,000. Built into that loan was money to cover possible losses, repairs, and improvements over three years. That money was gone in less than a year. Then there was the $400,000+ M.T. loan to keep the courses from bankruptcy. After that was the $15. per month, per household, Special Assessment to pay landscaper B.V. and other outstanding bills. Built into that assessment was $100,000 for possible losses and $100,000 for Capital improvements.


That money was gone within a year. Our HOA Board of Directors have already told us that there will be another assessment for $175 per household to pay BV and a dues increase of $15 per month to pay existing golf course bills.


Now the HOA Board of Directors are asking you to vote for a change in our Governing Documents that will allow them to increase our monthly dues to cover losses, repairs, improvements, etc. to the golf courses. They say that they will cap that increase to 10% of our budget. It’s a simple fix if they need more money. A simple majority vote of the Board to make the golf courses an amenity and golf is now a line item in the budget. If more money is needed for golf, the budget is increased to cover those expenses, and your DUES GO UP.


For example, if the irrigation system needs repairs or upgrades, or sprinklers need replacing, or a pump fails and needs to be replaced, or repairs to the bridges… cost $500,000, your monthly dues will increase $50 per household per month just to cover those expenses. I can’t count how many Board meetings, You Tube videos, Village and Activity meetings the Board has held. They even brought in Real Estate agents to a Board meeting. Scare Tactics. They give us a ‘Do or Die’ approach. And warned us of upto 50% reduction in home values. The Lake County Appraiser meanwhile has stated there is no effect on home values when a community closes a course.


But there are other alternatives that can be explored. For example, turn O.C. into 9 holes, close the back nine until the homeowners decide what they want to do with that land (possibly walking trails), and renegotiate the B.V. contract.


I wish we had that Crystal Ball. We want to see who the next Board will be. What will they do? How will they run our Community? If we vote for this Governing Document change, we (the Homeowners) will lose all control over how our money is spent.


Be careful what you wish for. We are voting for a change that will forever change the Plantation. Thank you for taking the time to read my email. Please share it with everyone on your address list.


Joyce

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It Won't Be Enough...

The blog demonstrates that $15 monthly per household is far short of what will be needed to keep the courses' operating.

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