Subject: Re: New pedestrian gate. Also a question
From: christian.a.lattimer@jpmchase.com
Date: Mon Apr 17 2006 - 16:20:50 CDT
As an owner, I fully support the boards of directors' decision for the
special assessment. A small assessment now will ultimately help fortify
the cash reserves and put us all in a financially secure position in the
future.
It is very clear to me that this was a strategic move. Based upon the
information presented at the last board meeting (which many people did not
attend), there are funds in the reserves, but tapping into the reserves
wouldn't be the best financial decision.
In a previous email it was stated... "I certainly hope that the reserves
have been more closely studied now and it has been determined that we are
indeed putting enough away."
Well, this is exactly what is happening. The board of director's has
re-examined the Reserve Study performed in 2001 and is making tactical
moves now to prevent any future special assessments. I encourage all
owners to review the financial report for 2005 and the projected budget
for 2006, as well as the Reserve Study from 2001. The operating costs for
a building our size is not trivial by any means.
- Chris
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