March 29, 2017 Country Lane Special Meeting Results Summary:
The Short Version:
The Proposed Change to the Articles of Incorporation
Passed. The vote by those present and by proxy was 86.7% in
favor and 13.3% opposed. There were 60
votes cast (52 in favor and 8 opposed).
The Condensed Extended Version:
The Proposed Change to the Articles of Incorporation: The
proposed change, stated as simply as possible, grants the Country Lane HOA Board
of Directors the right to acquire a loan for the community using the Personal
property of the community (defined as Monthly Assessments/Dues and Reserve Account
monies) as collateral for the loan.
NOTES: No
Community Assets (The Pool House,
Fence, Common Community property, etc.) would be committed as collateral for
the loan. Also, No Homeowner Assets/LOTS are involved in any way.
Concerns Voiced: The most prominent concern voiced about the proposed change
was that the new wording would give the Board of Directors a “Blank Check”
without any recourse by the Homeowners.
Resolution Proposed: The Board of Directors agreed to work with volunteer
homeowners from Country Lane to provide a change to the Articles of
Incorporation that would provide at loan threshold that, if exceeded, would
require a Special Meeting, similar to meeting just held, to approve going
forward with consummating a loan. We
had two Owners volunteer to work to held draft a resolution t present by September
Annual Meeting.
Loan in Process:
With the Completion of the Re-stated Articles of Incorporation, the
Board has continued with the Loan Application of a $190,000.00 to help pay for
work completed and recoup monies to the Reserves/Savings Accounts.
No Changes in Dues: The Board planned for a Monthly Loan Payment in their 2017 Budget and there will be no 2017 increase in Monthly dues and no Special Assessments to the Community.
Monthly Board Meeting:
Should any homeowner have questions or concerns, all are welcomed to attend the Monthly Board
meetings at the Pool House on the Third Tuesday of Every month at 7pm.
Best Regards,
Your Board of Directors
Dawn Stickler dawnstickler@aol.com Pat
Shipley shipleypat@comcast.net
