The Time Has Finally Come! PDF Print E-mail
Written by Concerned LSL Community Members   
Thursday, 19 January 2012 20:48

LSL CA Members,  You finally have your election!

TWO AND A HALF YEARS is how long it has been since 2/3 of you asked the Board of Directors through petition to vote on important changes to our Bylaws.  It wasn’t easy but three elections, five Board Members and one 9 resident Bylaw Committee later, the time has finally come. 

LAST WEEK, your new Board of Directors mailed out a ballot with some of the changes submitted to it by the By-Law Committee last year.  Here are the items you can expect the ballot to contain (our comments in parentheses):

1)            Require a Member vote to make changes to the By-Laws.  (NOTE:  Previous Boards have unilaterally done this in the past.)

2)            Delete language granting the Board overly broad powers.

3-5)        Require the Board to ensure adequate funding in three separate mandatory reserve funds: Dredging Reserve, Emergency Reserve, and Assessment Reserve.  (NOTE: Assessment Reserve is intended to stave off assessment increases as long as possible.)

6)            Require the Board to allocate revenue to help ensure that adequate funding is available for the ongoing operations, maintenance, and incremental improvements to LSLCA amenities.  (NOTE:  Currently there is no such requirement to allocate revenue.  The Board could deplete funds on spending projects tomorrow creating a need for an assessment increase.)

7)            Require Member vote to buy or lease real estate in excess of $250,000. (NOTE: Currently there is NO member vote.)

8)            Require Member vote to place a mortgage on or similar financial obligation on any of the Common Properties or Common Grounds. (NOTE: Currently there is NO member vote.) 

9)            Require Member vote to spend in excess of $250,000 annually on any single Capital expenditure or Capital project. (NOTE: Currently there is NO member vote.)

10)          Require Member vote to borrow in excess of $500,000.   (NOTE: Currently there is NO member vote.)

11)          Require Member vote to permanently change the use of LSLCA amenities.  (NOTE:  Currently the Board may change AT WILL.)

12)          Eliminate the financial covenants of the 1985 Resolution.   (NOTE: No effect on assessment levels.)

Upon review of these items, the CLSLCM feels these ballot items are consistent with what the community has been asking for.  Therefore, we ask that you seriously consider voting YES on these items to ensure that future boards act in accordance with your wishes. 

TODAY, you have a Board that is sensitive to costs and long term viability of the CA.  The members of this Board want to serve you and preserve all the amenities of this community association.  Just over 2 1/2 years ago, you had a Board that used your money to buy $750k Edgewater Point and launched a campaign for an assessment increase of over 66% with massive loans intended to pay for largely undefined construction projects.  Think it couldn’t happen again?  NOW is the time to act. 

YOU SHOULD HAVE ALREADY RECEIVED YOUR BALLOT.  If you didn’t receive one or lost it, please contact the LSL CA at 636-625-8276 ASAP for a new ballot.  When you get your ballot, please carefully read each item, then vote and return your ballot.  Contact your Board of Directors for any clarifications.  For details of the actual changes, please visit the Bylaws Election section of the on the LSL CA website.  Thank You and remember together we are…

1 Community Association, 4000 Voices!