Crossville Chronicle, Crossville, TN

August 28, 2013

LTVPOA Board proposes one–time $100 assessment


Submitted

CROSSVILLE — Dear LTVPOA Members,

Through the years, Lake Tansi Village has shown its resilience and proved its ability to survive. Our community residents and the natural beauty of our resort continue to attract many who partake of the wonderful offerings here.

We continually strive to improve the joy and fulfillment of those who live here, those who invest here and those who choose to visit and spend time with us.

Many of the amenities that make our community great need to be repaired, upgraded and/or improved in order to assure sustained pleasure for us and value for future generations.

The LTVPOA Board has reviewed the state of our valued amenities and realizes that certain improvements are necessary at this time. We have attached a list of those amenities deemed most in need of improvement or repairs and for which special funding is needed. Some of these are approaching unsafe condition.

No operational or budget dollars are available for these much needed repairs, upgrades and safety issues. We believe, however, there is a workable solution:

a one-time $100 assessment per LTVPOA dues paying membership.

We urge that you look closely at the attached list of needs. Final budgeting numbers for these projects are currently being evaluated. The dollars assigned in our list are our best estimates, and we encourage your contacting us separately or collectively to discuss any of them or their related costs.

Lake Tansi needs your vote of Yes for this one-time assessment.

Request for Approval

One-Time $100 Assessment per LTV POA dues paying membership

Pertinent additional information:

LTV POA is committed to the continuation of a “Five-Year Financial Plan” that will reduce our debt by one million dollars over those five years. This plan is necessary and will successfully deliver us operationally from what have been several years of economic uncertainty. Over the next 4 years, the execution of this plan leaves very little for needed additions and amenity improvements.

Any assessment must be approved by a vote of the membership.

The proposed assessment will be offered for vote along with this year’s annual ballot for board and committee candidates.

The requested assessment is projected to generate $550,000 to $600,000.

The total estimated cost for proposed projects is $586,300.

If the proposed assessment is approved, all dollars received under this assessment will be held in a separate Special Project checking account and assigned exclusively for the completion of these projects alone. The account will not be mingled with or assigned to fund operational expenses or debt reduction.

Members would be billed $100 per dues paying membership.

Examples:

Members who pay one POA set of dues would be assessed $100.

Members who pay two POA sets of dues would be assessed $200.

Members who pay three and a half POA sets of dues would be assessed $350.

Monthly installments for the assessment will be available.

We invite any donations.

Amenities deemed most in need of improvement or repairs:

Cabins:

$5,100 – New picnic tables/tables and chairs, 17 cabins

$18,000 – Landscaping around 12 cabins 

$76,500 – furniture upgrade, 17 cabins

Rec Hall:

$3,000 – new pool furniture

$45,000 – tennis court repair, resurfacing

$16,000 – new paddle boats

Marina:

$30,000 – parking lot chip & tar

$10,000 – weed control, all lakes

$10,000 – replace rental fishing boat & motor

$45,000 – replace/enlarge bait shop

Indoor Pool:

$150,000 – new building and pool by rec hall

$5,000 - landscaping

Shop:

$ 25,000 – maintenance vehicle replacement

Security:

$ 40,000 – replace vehicles

Pro Shop:

$6,800 – new carpet

$4,200 – new carpet for pavilion

Snack Bar:

$7,200 – new carpet

Country Club Restaurant: 

$30,000 – new roof

Beach:

$2,500 – new picnic tables

$1,200 – grills 

$1,200 – deck furniture

$3,600 – sand 

$5,000 – landscaping 

$16,000 – 30X50 pavilion

POA Office:

$20,000 – Upgrade computers, software

$5,000 – new copy machine

$5,000 – beach/golf course weather siren fixed 

TOTAL:$586,300

The special assessment is projected to generate between $550,000 and $600,000. Estimated budgeting totals for the proposed projects are $586,300.

Final budget numbers are currently being evaluated.

The condition of Lake Tansi Village in general and our amenities have a direct relationship on our property values.

LAKE TANSI NEEDS YOUR VOTE OF YES