Welcome to the Doe Valley Special Town Hall Meeting 14 May 2013 Doe Valley

Significant loss of dues on more than 425 vacant lots Unexpected loss of more than $120,000 from our operating budget Other inflationary items putting pressure on the budget Why are we talking an increase in Dues? Doe Valley

What happened? The largest owner of vacant lots, has been selling lots at below market prices. At the same time the POA has also legally reclaimed from delinquent dues payers This glut of lots for sale has pushed prices to historic lows

Doe Valley What happened? Causing two unintended consequences: One is buying and then legally combining the lots with adjoining property. The other consequence is that other real estate investors who hold multiple lots have stopped paying their dues

Doe Valley What happened? In total, the number of 2 nd lots producing dues revenue fell from 620 to only 183 in the span of one year. This is the main cause of the unexpected loss of more than $120,000 from our operating budget.

Doe Valley What are we doing to collect the unpaid dues? Working with the delinquent members Place liens on the lots Usually collect back dues when the lots eventually sell

Utilities: Water, Sewer, & Roads Amenities 24 Hour Security/Privacy Gates Marina Parks & Beaches Campground Swim and Tennis Club o Swimming Pool o Six Lighted Tennis Courts o Meeting Rooms/Social Programs o Excellent Restaurant/Cocktail Lounge 18 Hole Championship Golf Course 360 Acre Spring Fed Lake Doe Valley

Roads Designated amount of $7.50 per month set aside for roads. Fund is solvent with a surplus of $531, Doe Valley

Water Tower Repair Paid $163, each for repairs & refurbishment Establish a water trust fund with an increase of $1.50

Whats next?

State providing $55,000 Doe Valley providing at the rest Estimated cost $120,000

Doe Valley Amenities 24 Hour Security/Privacy Gates Marina Parks & Beaches Campground Swim and Tennis Club o Swimming Pool o Six Lighted Tennis Courts o Meeting Rooms/Social Programs o Excellent Restaurant/Cocktail Lounge 18 Hole Championship Golf Course 360 Acre Spring Fed Lake

Doe Valley Is Doe Valley in Financial Trouble? Absolutely not! Total annual revenue is more than $2,500,000 Dues are not our only source of income This shortfall is less than 3% of our total budget Last dues increase was 2004 (nine years ago)

Doe Valley

Dues Increase Main Lot dues are $79 per month -If our dues had increased by the same rate as: Social Security, they would currently be $107 Military Pay - $110 Consumer Price Index - $100 -Money from the Lake / Golf Course assessment is used to pay loans. It is not used for operations.

Doe Valley Striking the Proper Balance If We Raise Dues Too Much, People Will Choose To Live Elsewhere But If We Dont Invest in and Maintain the Things that Make Doe Valley Special, People Will Choose To Live Elsewhere

Doe Valley What are our options? 1)Implement Budget Cuts (Reduce staff/services) 2)Raise dues on main lots $9 per month Condos $4.00 per month Additional lots $3.00 per month 3)Do Some of Both 4) Other Ideas?

Doe Valley Members Feedback 1)Introduce yourself 2)Be polite 3)Talk clearly 4)Make actionable recommendations

Doe Valley Thanks for coming and drive home safely