Sycamore Vista Annual HOA Meeting, 25 April 2013
Channel: 666isMONEY
Date: 2013-04-26

23:40  UNIT 2, No quorum
26:50  UNIT 5, My lawsuit, they approved a Special Assessment of $500/lot to fight my lawsuit . . . i.e., they want me to pay $5000 to fight myself! Said it will take 18-24 months to settle lawsuit.
30:15  UNIT 7, (see below)
31:29  My question about roads in Unit 5 (see below)

Beginning of meeting was about impending water shortage, which can be solved by assessing each lot a portion of the $1.3-million to improve the well. ($3-million total, our share, 35% is $1.3-M) Other communities must also chip-in to get more water hookups, there are only 200 left. Much time was spent trying to figure out which lots should be assessed, should we get a loan, should current homeowners be assessed too?

There wasn't a quorum for Unit 2 since most of the lots have homes, the majority lot owners do not have enough votes to swing things so Russo never explained why, suddenly in October 2012, $145,778.21 found it's way into the Unit 2 HOA budget.

Most-important to me, I asked: "Are you going to help me sell my two lots in Unit 2?" Mr. Russo said he would talk to me after the meeting. He said (after the meeting) that because of the lawsuit, that can be part of the settlement, have your lawyer talk to me. I'm thinking: No, we should amend the Complaint to charge you with self-dealing.

Unit 5: Russo mentioned my lawsuit without mentioning my name. Said each lot owner was going to be assessed $500 to pay! Then he passed out the Judgment from when Unit 8 was forced to sue the County to get building permits. Does Mr. Russo realize that the Dreamland case, which overrules the Unit 8 lawsuit was an appellate court judgment?

Said the 50-lots in SW corner should be ready for sale by May 15. There will be a meeting on or about the 15th to amend CC&Rs to impose assessment of $17,150/lot. He said 40 lots have an option with DR Horton. I asked for how much? He said $36,000/lot, whereas Unit 2 was $32k/lot.

UNIT 7: There were several people interested in Unit 7. Russo was uncertain whether construction will begin in Unit 7 or 8.3 next. (Makes more sense to me 8.3.)

Unit 2 took 5 years to fill, Russo estimated 3-years for Unit 5.

I didn't bother to mention, again, "Why are we paying dues in Units 9 & 10 where development will not take place for 12 years?"

See my blog for more info: http://sycamorevista.org/