Comments on: Budget Issues Discussed at Meeting

By: Dick Junkins

Dick Junkins — Mon, 02 Feb 2009 13:57:07 +0000

Elizabeth: And a good feature about the documents is that you can search for items. Once you open a document, you’ll see a box at the top that says “Find”. Enter the word you’re looking for – in this case ‘Assessment’ and it will find every instance of that word. You’ll want to search the Covenants and the ByLaws to find all the Assessment information. I know that won’t help your issue regarding voting on the Assessments, but you’ll be able to see the rules by which the Board operates.

By: Sally McKinney

Sally McKinney — Mon, 02 Feb 2009 03:58:17 +0000

The ByLaws allow the board to raise the assessments 5% plus the cost of living of 5.8% without a vote of the property owners. The $4 increase is 8.3%. You must remember this is a non-profit corporation, not a city. All the POASC documents may be accessed by clicking on “Documents” at the top of this page. If you haven’t done so previously, it might be a good idea to review them some time.

By: Elizabeth

Elizabeth — Mon, 02 Feb 2009 02:09:18 +0000

The proposed assessment increase is a proposal that affects the property owners. Why are we not allowed to vote on the proposal to raise assessment fees?
When the state or cities try to raise more money by taxes the citizens get to vote yea or no!! This does not seem appropriate to me that the BOARD has the total power to raise rates when they decide they need more money.

By: Ron

Ron — Thu, 15 Jan 2009 00:42:55 +0000

Thank you, Ben.

By: ben

ben — Wed, 14 Jan 2009 17:46:21 +0000

Yes, with a $50K deductible. In effect, the Pier is self-insured, due to the prohibitive cost of adding it to our policy. Tree removal(the major expense from Ivan) is not.

By: Ron

Ron — Wed, 14 Jan 2009 16:50:20 +0000

I have seen a number of references to the threat of catatrophic losses especially in conjunction with thr AR&R fund and the possibility of assessments. I really don’t know but does the POASC not carry insurance to cover such losses?

If not, why not?

By: ben

ben — Sun, 11 Jan 2009 00:08:58 +0000

How $1 in assessments equals $18,300.

1527 assessmentsX$1X12 months= $18,324

note: The actual # of assessments will vary throughout the year according to collections, Lots sales & purchases(combining lots), etc.

By: W Hodge

W Hodge — Sat, 10 Jan 2009 20:34:58 +0000

The recent assessment increase seems appropriate to me. Granted that it will cut into our individual Social Security retirement benefits but it is also true that those benefits increase this month. Spanish Cove at this point is simply trying to stay even. We’re not building new buildings, new roads, new piers or much of anything else new. We are re-newing a few things but if we don’t do that “shabby” will take over and ultimately replacement cost will be higher. I’m much in favor of a proactive maintenance and repair approach. To do otherwise is to always being in “catch-up” mode. That’s not the place to be if we sustain a catastrophic loss.

By: Dick Junkins

Dick Junkins — Sat, 10 Jan 2009 15:01:25 +0000

I know we’re getting the value for our Assessment money. I had to think about the $54.50, though. Seems an awful lot compared to what we recenly paid, but it goes away when I flush, and I hate to consider the alternative…

By: sam

sam — Sat, 10 Jan 2009 13:27:37 +0000

Something to consider: Sewer $54.50/month. Proposed assessment $52/month.

Which is the greater value?