Welcome to the Doe Valley Special Town Hall Meeting 14 May 2013 Doe Valley

Welcome to the Doe Valley

Special Town Hall Meeting14 May 2013

Doe Valley

Significant loss of dues on more than 425 vacant lots Unexpected loss of more than $120,000 from our operating budget

Other inflationary items putting pressure on the budget

Why are we talking an increase in Dues?

Doe Valley

Doe ValleyWhat

happened? The largest owner of vacant lots, has been selling lots at below market prices.

At the same time the POA has also legally reclaimed from delinquent dues payers

This glut of lots for sale has pushed prices to historic lows

Doe ValleyWhat

happened? Causing two unintended consequences:

One is buying and then legally combining the lots with adjoining property.

The other consequence is that other real estate investors who hold multiple lots have stopped paying their dues

Doe ValleyWhat

happened? In total, the number of 2nd lots producing dues revenue fell from 620 to only 183 in the span of one year.

This is the main cause of the unexpected loss of more than $120,000 from our operating budget.

Doe ValleyWhat are we doing to collect the unpaid

dues? Working with the delinquent members

Place liens on the lots

Usually collect back dues when the lots eventually sell

Utilities: Water, Sewer, & Roads

Amenities 24 Hour Security/Privacy Gates Marina Parks & Beaches Campground Swim and Tennis Clubo Swimming Poolo Six Lighted Tennis Courtso Meeting Rooms/Social Programso Excellent Restaurant/Cocktail Lounge

18 Hole Championship Golf Course 360 Acre Spring Fed Lake

Where is your money going?

Doe Valley

Roads

Designated amount of $7.50 per month set aside for roads.

Fund is solvent with a surplus of $531,516.13

Doe Valley

Water Tower Repair Paid $163,937.90 each for repairs & refurbishment Establish a water trust fund with an increase of $1.50

Sewer Plant What’s next?

Dam Repairs• State providing $55,000• Doe Valley providing at the rest• Estimated cost $120,000

Doe ValleyAmenities

24 Hour Security/Privacy Gates Marina Parks & Beaches Campground Swim and Tennis Clubo Swimming Poolo Six Lighted Tennis Courtso Meeting Rooms/Social Programso Excellent Restaurant/Cocktail Lounge

18 Hole Championship Golf Course 360 Acre Spring Fed Lake

Doe ValleyIs Doe Valley in Financial Trouble?

Absolutely not!

Total annual revenue is more than $2,500,000

Dues are not our only source of income

This shortfall is less than 3% of our total budget

Last dues increase was 2004 (nine years ago)

Doe Valley

Doe Valley

Doe Valley

Doe ValleyDues Increase

Main Lot dues are $79 per month

- If our dues had increased by the same rate as: Social Security, they would currently

be $107 Military Pay - $110 Consumer Price Index - $100

- Money from the Lake / Golf Course assessment is used to pay loans. It is not used for operations.

Doe ValleyStriking the Proper Balance

If We Raise Dues Too Much, People Will Choose To Live Elsewhere

But

If We Don’t Invest in and Maintain the Things that Make Doe Valley Special,

People Will Choose To Live Elsewhere

Doe ValleyWhat are our options?

1) Implement Budget Cuts (Reduce staff/services)

2) Raise dues on main lots $9 per month• Condo’s $4.00 per month• Additional lots $3.00 per month

3) Do Some of Both

4) Other Ideas?

Doe ValleyMember’s Feedback

1) Introduce yourself

2) Be polite

3) Talk clearly

4) Make actionable recommendations

Doe Valley

Thanks for coming and drive

home safely