|
Villages of Viera East |
|
Homeowners Association |
|
Meeting Information |
|
Web hosting donated by: |
|
NEXT Homeowners Association Board Meeting: September 1st , 2010 at 6:30pm at the Wingate clubhouse |
|
Overview of our June 2 Board meeting: New Greens Program for Viera East Golf Course. Mr. Bob Johnson (golf course Manager) and Vinny Annella (chairman of VECDD) attended our meeting and presented a slide presentation providing the history of the course, what the present board inherited, and the path forward to return the course to profitability. FACTS: Our 4,222 home owners own the golf course and we inherited a debt bond for the golf course of $7 million dollars from the Viera Development Company. We could sell the course at an estimated $2 million; however that would still leave us with $5 million debt bond that has to be satisfied. Increased taxes to satisfy this debt are not desirable. Our greens are 16 years old and the root system was deteriorating and along with that fact and the severe cold we experienced this winter could not get them restarted. With the lost revenue from fewer green fees during the next three months and the cost of greens replacement leave us with a deficit of approximately $560,000. The increased assessment for the home owners will be between $65 and $75 dollars for this year. PATH FORWARD to PROFITABILITY: Board thoughts; We should keep the golf course and return it to profitability by infusing the assessment into the golf course. The golf course has been operating at a break even pace dropping below the breakeven point some years and above the breakeven point during some years, however the golf course has been able to service this huge $7 million bond. It is our opinion with the new greens and appropriate marketing the golf course will return to profitability and will continue to service that huge debt. We do not like to look backward because it is what is it and we need to fix the problems and look forward to the future. In our opinion the golf course is a huge asset to our community and I believe that by having the golf course it does increase the value of our housing areas. The current management of the golf course appears to be doing a great job with the limited resources. They have made major improvements in sand trap and fairway maintenance and other than the greens the course is in great shape. No one could foresee the severe winter that helped to destroy the greens. The increased assessment will be up for vote on Aug 25, 2010. It will be at the Lutheran Church on Viera Blvd. OTHER BUSINESS BEFORE THE BOARD: SIGNS at entrances to all three housing areas should be cleaned and painted during the next two weeks. GARAGE SALE: We are planning a community garage sale on October 2, 2010 for all three Villages. A flyer will be coming to your door very soon with more details. Much of the vegetation debris from the winter kill has been removed and all three housing areas are looking much better. An area that the residents can really help the board with is to make sure we have your email addresses so that we can continue to reduce operating costs by communicating with as many residents as possible using the internet. If you are getting this email, then we have your email address, however when you talk to your neighbors that may not have received this email, please ask them to let me know so they can be added. The concern with the pit bulldog attacking one of our neighbors in Bennington is still under investigation and more information will be forthcoming.. |