I want to address two things. In September, we had some good news. Four people who were over 90 days delinquent in the payment of their homeowner dues decided it was in their best interest to move on from Kenthill Townhomes. The result of this was that our financial situation improved greatly, moving us out of the five digit deficit and into the four digit deficit status.
[It would be very useful if I were able to elaborate at length on the details of the above statements, but privacy and legal issues prevent me from doing so. But suffice it to say – our new, revised Declarations and Bylaws have proved to be very powerful tools in the process of dealing with delinquencies, liens, and foreclosures].
The second issue I would like to address is the Reserve Study. It would be inappropriate to make too many statements on the internet. The Reserve Study is a very large document. Preparing it took many months and many hours of interaction, feedback, studying, and information gathering on the part of the vendor, countless contractors, and question and answer sessions with Board members. Having said that, the Reserve Study is only a guide. It is a very useful guide, but only a guide. It does not dictate, nor will it dictate, future actions and decisions. It came with useful tools which can be used to manipulate data to produce various current and future outcomes. The Board has spent many hours reviewing the document. It has proved to be very helpful in the short time that it has been implemented in assisting with composing a rough draft of future projects and issues which will need to be considered in the short term future and the long term future.
