Message from your Board Member
2012 Annual Meeting
Our 2012 Annual Meeting is tentatively scheduled for Wednesday evening, Jan. 18, 2012 at the Shelby Twp. municipal building [this date has since been confirmed]. There will be two important elections held that evening. One will be to approve a final paving Special Assessment and another will be held to elect three co-owners to the Board of Directors.
During the meeting, the current Board of Directors will be asking Association members to approve a Special Assessment for the purpose of repairing cracked curbs and to pave the final asphalt layer on the remainder of our roads and private access drives. A Special Assessment requires the approval of more than 2/3rds of all "members in value" (as opposed to "members in number"), since it is levied on the basis of the percent of value assigned to each Unit. Per the Amended Master Deed, owners of Units 1-14 have each been assigned 0.17422 percent of value and owners of Units 16-167 each have 0.64185 percent of value (owners of all Units each have a vote that is worth 1/166 = 0.60241 percent when voting by number).
Pending the receipt of competitive bids, the current Board estimates that the final paving project will cost about $83,700 and that the Special Assessment levy will be about $145 for each of Units 1-14 and about $540 for each of Units 16-166. The Carpenters Pension Trust Fund owns (47) incomplete Units and they will also pay the Special Assessment amount for each of their Units.
The estimated Special Assessment levy amount is considerably higher than originally planned. That's because the Shelby Township Attorney informed me on Oct. 28, 2011
via this letter that the $29,600 Letter of Credit issued on Nov. 17, 2004 by the Greco Title Co. on behalf of "Sable Realty Ventures- Shelby I LP" and held by the Township to guarantee the final paving is not being honored by the title company that recently purchased the assets of the Greco Title Co.
The current Board of Directors recommends a "yes" vote on the Special Assessment. If approved, the curb repairs and final layer of asphalt paving will be completed before the end of 2012.
The 2012 Annual Meeting will also be the Transition Meeting at which time the Carpenters Pension Trust Fund will transfer control of the Board of Directors over to the co-owners. Therefore, we will be electing three co-owners to the Board at this meeting.
If nominated, I intend to run for another term on the Board of Directors. Please give some serious thought about who else you’d like to see nominated for election to the Board of Directors and discuss it with your neighbors. I know that we have many co-owners who are capable of serving on the Board and the more nominees we have, the stronger the new Board will be. If you have any questions about what is expected of a Board member, please contact me and I'll be more than happy to answer your questions.
In early December you will receive a mailing that will confirm the time and place of the 2012 Annual Meeting and provide full details about the two elections and the nomination process. A second mailing will arrive in January with the names of those who have been nominated thus far along with proxy forms for those who might not be able to attend the Annual Meeting in person. If you are not sure whether you can attend the Annual Meeting, please fill out and return the proxy prior to the meeting (your proxy will be returned at the door if you later decide to attend in person). It is important that we have enough voting members present in the room and via proxies so that we can properly conduct the Special Assessment and Board of Directors elections.
Parking Reminder
Overnight parking (Midnight to 6 AM) is not allowed on our streets and private access drives from November 1st through March 31st.
