President’s Comments Nov 2016 Board Meeting

Published November 9, 2016 | By admin

In the past Month of October 2016, the Mayor has commented many times, “Sopko said” or “Sopko was right”, or “Sopko pointed out”.
1. I just wanted it to be clear that Sopko is just another Association Board Member who happens to be the President representing the Board. What I say has been vetted by the Board and represents the Boards position.
2. If I make my own comment, I state that it is my feeling at the beginning of the comment.

We are the Village and we are the Association. Members of Ohio Lakes Community Association (OCLA) highly praised our Village and Association arrangement.
1. Recently, there has been significant comment by the Mayor in the Shores News about the Dam Purchase Agreement not being good for the Village. The question should be is it good for the Community.

The Association would like to remind the Members that we the Association would have a difficult time purchasing insurance on the Dam.
1. A good example of dam insurance is Hide-A-Way Hills. There annual dam insurance costs increased toward $100,000. They dropped their insurance.
2. The Dam failed when they had no insurance and the cost per Member to repair the Dam was $4,000. The entire Dam repair was $2.5 million.
3. Our Association Assessments would have to rise if the Association we were to insure the Dam. Per Member, the figure is estimated to be $8 assessment increase per year per $10,000 additional premium on the insurance. The Assessment increase for dam insurance is estimated to be on the order of $24 to $80 per Member per year.

The Board wants the Members to recall that we are both Members of the Association and Residents of the Village.
1. We all pay taxes to the Village and we all pay dues/assessments to the Association. The Community should be getting some help from the Village and the Association.