Resolution 1: Sell the HOA owned townhome
A housing bubble property in Phase 1 was foreclosed on by the bank, and unfortunately due to safe harbor laws, the HOA can only recoup one year of back assessments. Phase 1 was about to lose $36,000, so the Board decided to buy the property at the bank auction in order cover our lost assessments with rental income. Contrary to what has been reported on Next Door/Facebook, this decision was announced at several community meetings prior to purchasing the property, and not a single person objected to this plan. And thankfully so! This purchase turned out to be a brilliant move. We collected $1100/month rent in 2017 and are now collecting $1600/month rent. Furthermore, the purchase price and renovations total $170K and the property is now worth about $200K for a paper profit of $30K!
The reason to keep the unit is because of the rental income and continued appreciation in value.
The reason to sell the unit is because it is tying up a lot of cash. There are several line items in our financial statements that would be cleared up upon selling the unit. The rent collected over the last 2 years plus the appreciation in value is currently enough to cover the original plan of rescuing the $36,000 owed to the HOA.
Circle NO to keep the unit, circle a suggested sale price if you want the HOA to sell the unit.
The reason to keep the unit is because of the rental income and continued appreciation in value.
The reason to sell the unit is because it is tying up a lot of cash. There are several line items in our financial statements that would be cleared up upon selling the unit. The rent collected over the last 2 years plus the appreciation in value is currently enough to cover the original plan of rescuing the $36,000 owed to the HOA.
Circle NO to keep the unit, circle a suggested sale price if you want the HOA to sell the unit.
Resolution 2: Issue yard fines in 2019
The townhome owners have spent $400 over the last 2 years replacing sod. It is not fair for the HOA to force the townhome owners to pay for sod but not force the single family owners to do the same.
Circle NO if you don't want any yard fines for single family homes, otherwise circle a suggested maximum fine. A newsletter announcement will be made in February and warnings will be sent out in March or April.
Circle NO if you don't want any yard fines for single family homes, otherwise circle a suggested maximum fine. A newsletter announcement will be made in February and warnings will be sent out in March or April.
Resolution 3: Remove some trees
The oak trees in Phase 1 are beautiful, but they are not without their problems. The leaves, pollen and acorns are a nuisance. The trees have grown so big in the 13 years that now there is too much shade making it very difficult to maintain the grass. The roots are a nightmare, the sidewalks were a serious trip hazard (until the Board requested the county to fix) and there has been way too much pipe damage (homeowner water, irrigation, county sewer). Trimming is not cheap, and must be performed at least once a year. Special kudos go to the Board for using its crystal ball and trimming all these oak trees before the hurricane. You saw what happened to the oaks along J Lawson between Boggy Creek and Beacon Park, almost all those trees blew over but none of the Phase 1 oaks were lost.
Circle NO to keep the trees. Circle YES(all) to remove all the trees. Circle YES(alternating) to remove every other tree, this would eliminate half the nuisance issues and provide enough sunlight to support all of our grass, a reasonable compromise.
Circle NO to keep the trees. Circle YES(all) to remove all the trees. Circle YES(alternating) to remove every other tree, this would eliminate half the nuisance issues and provide enough sunlight to support all of our grass, a reasonable compromise.
Make your vote count!
You have three methods available to vote on these resolutions.
- Vote in person at the annual meeting
- Give control of your vote to a proxy who will make your voting decisions for you
- Keep control of your vote by completing the following form and submitting your vote directly (no proxy): email to [email protected]
| 2018 Beacon Park Phase 1 Resolutions |