Crossville Chronicle, Crossville, TN

August 29, 2012

POA bankruptcy – Never

By R.D. Cahill
POA Board of Directors

CROSSVILLE — I have heard talk about Tansi POA (LTPOA) going bankrupt. The LTPOA has a critical shortage of cash flow. It has repairs, renovations, and major projects that urgently need to be done. The LTPOA needs additional dues now. I and other members of the Board agree that dues in the past were mishandled, but costs rise and we are asking for an additional $2.08 a month.

We know many of our members are upset because of past actions of the LTPOA Boards. This we cannot change, but are trying to correct the results of their actions.

Most everyone moved here because of what Tansi had to offer. That has not changed. People who will move here in the future will come for the same reasons. This is what will bring your property values back. We will get this done. It will get done sooner with the help of all members. I know some members are upset and angry, but this will not get us anywhere. The Board members, like you, are property owners and members.

With work, our problems will be conquered, the sewer issue will be solved, and our debt will get paid off. LTPOA could sell our assets now and pay off all debt. However, most all the Board members want to protect what we have. You want your property values to rise, and this won’t happen if Tansi becomes a less desirable place to live.

An investment of $2.08 a month in your property will bring you a better return than it will invested anywhere else.

The POA will never declare bankruptcy, because our assets far exceed our debt.