The board would like to respond to comments made about expenses that have been incurred due to the creation of the proposed amendments. The current bylaws were followed with the focus set on insuring that the new amendments and bylaws would allow us to move forward into the future, without the need to continually defend our current covenants and bylaws. The addition of short-term rentals has been a challenge. We need a strong foundation to maintain the lake as we know it.
Your board is recommending a change in structure in large measure to give you, our property owners, control through member election and a way to change the lake covenants, rules and practices. This also required legal services.
You may recall that in addition to short term rental, legal fees were expensed to fix a 45 year old problem, clearing a cloudy title with respect to ownership. Mr. Falligant’s intentions, when he deeded the lake to Mr. Eddie Johnson, were to deed the lake to him in trust for the property owners on the lake. New documents were drafted, executed and filed to conform to Mr. Falligant’s intentions. In addition, fees were incurred to deal with issues with existing short term vacation rentals. A breakout of legal fees will be shared at the meeting on Wednesday.
The time and money used now to secure our lake and homes is necessary. It has been neglected for years and needs to be addressed.
We hope to see you at the meeting.