Initially presented at the February 2019 Annual DLPOA Meeting, and reviewed by its most recent members, the Board presented the financing options it has reviewed during the June 20th Informational Meeting with the DLPOA Residents. There was much discussion on the scope of the projects, which order made sense to execute them and which financing option made the most sense. During an informal show of hands from the approximately 75 Residents in attendance, a significant percentage said they would vote for the Board’s recommendation for project scope, sequence of projects and how to finance them. The details of this can be seen in the attached slides, but the Financing Plan is something different than past ballots: raise Annual Assessments from $42/month ($500/year) to $100/month ($1200/year). This option addresses the varied concerns Residents have voiced in the past, is a true pay-as-you-go option (avoids the up-front lump sum payment) and also creates longer-term funding for Dredging, Dam, Spillway and Commons projects which will minimize/avoid another lump sum request in the foreseeable future. One question that came up several times was the order of the capital projects. For clarification, we are not locked into funding projects in the stated order. If the Dam or Spillway project timeline needs to be accelerated, they certainly can be. The Board will send out an informational mailer in Mid July followed by a ballot to vote for the proposed raise of Annual Assessments in Late July.
