An independent source of news and commentary concerning Lake Holiday POA in Cross Junction, VA
Nov 2006 – Issue 11/11
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Editor's Farewell (11/11/2006)

Over the past three years I have attempted to make the Summit Advisor a viable community resource. Most of my articles have been informative in nature, and a few critical with the intent of promoting positive change. For those interested, the front page gets close to 2000 hits (actual page requests) per month. The Bulletin Board which was initiated last year has enjoyed close to a thousand posts, most of which voice legitimate concerns and information. As editor, I have reviewed the BB daily to insure no improper language diminished the quality of the website. This requires exceptional subjectivity.

Regrettably, the overall task has become tedious, and with that I have decided to resign as editor. Control of the website resorts back to Bill Masters, who is the owner of the domain name. Before closing, I would be remiss if I didn't thank the readers for their indulgence and recognition. I believe we have a bright future here at Lake Holiday, the best of which is about to unfold in coming years. -Bill Adams

Annual Meeting and Election 2006 (10/29/2006)

An overwhelming number of votes were cast in favor of the five winning candidates for the 2007 Board of Directors. The exceptional participation was likely driven by concern for a continued positive agenda. We calculate that 548 ballots were cast in opposition to 276 eligible proxy votes cast by Ogunquit. Seven candidates registered in advance and submitted resumes through the normal nominating process. Ogunquit nominated four candidates from the floor, of which three were absent and required written acceptance be submitted. The margin between the 5th and 6th candidates was 79 votes, which is indicative of a LHLLC block vote for the winners. Subtracting the LHLLC vote does not change the rank order so that the election was truly resident driven. Congratulations to Ken Murphy, Dave Buermeyer, Noel O'Brien, Steve Locke and Suzy Marcus. Of the five, Ken and Suzy are new to the Board and the other three are incumbents.

The annual meeting was attended by approximately 75 residents, indicating that over 470 absentee ballots were submitted. Reports from LHCC and LHEUC boards and committees were heard. Highlights included comments that the LHEUC is in the green operationally due to efficiencies with Aqua's management and a reduction in the number of repairs needed. LHEUC still owes LHCC $1.7M of which part will be recovered via the Aqua sale. This, incidentally is where a large portion of the LHCC cash went in past years, and where $300k went this year so far for repairs and improvements. Utility rate increases were blocked at the beginning of the year, necessitating the loans to maintain the system.

Plans to start development of section 9 in 18-24 months were announced. Section 9 is the Westernmost portion of the community near the rear gate. The planned route for utilities is via Lakeview Drive, which when installed will make W&S available along the way and significantly increase adjacent lot values. Legal costs were briefly discussed, indicating that approx. $100k had been expended in connection with the Ogunquit lawsuit, with another $40-50k expenses foreseen for pending alleged discrimination charges. Most other charges have been since dismissed. Additional significant legal costs were incurred for audit and tax refiling purposes and for transfer of the utility company to Aqua.

Funding of the clubhouse requires a $610k loan, as $100k of the LHLLC $300k contribution has already been used for the beach restrooms. We had previously assumed a $500k loan requirement. The meeting was adjourned and no one attended the Q&A session which followed. Apparently everyone left happy.

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Links: Lake Holiday POA...Ogunquit Development ...Lake Holiday LLC

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