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Extraordinary Homeowners Meeting – Water Trust

February 24, 2014 @ 9:30 am - 5:00 pm CST

Dolce Vita Condominiums
Playas Ocotal
Costa Rica

ADMINISTRATIVE BOARD CALL FOR EXTRAORDINARY MEETING

As shared in the Special Newsletter dated February 5, 2014, the Dolce Vita Condominiums have been extended an invitation to join the Coco Water Trust.

Due to the large amount of money involved to join the Trust as well as the potential devastating consequences of not joining the Trust, the Administrative Board is calling for a homeowner vote to answer the question:
SHOULD THE DOLCE VITA HOMEOWNERS ASSOCIATION AGREE TO JOIN THE COCO WATER TRUST IN ORDER TO RECEIVE A HYDRO RESOURCE CAPACITY WATER AVAILABILITY LETTER TO PRESENT TO THE MUNICIPALITY OF CARILLO ENGINEER SO THAT CONSTRUCTION PERMITS FOR THE PROJECT CAN BE ISSUED AND LEGAL ACTION AGAINST THE CONDOMINIUM AVOIDED?

A YES VOTE WILL MEAN:

1. The Administrative Board will sign a contract with the CoCo Water trust which will obligate our condominium to purchase 92 water hookups at a price of approximately $506,000 American Dollars.

2. Each homeowner will be required to purchase one of the water hookups at the price of $5,500 American Dollars.

3. A Hydro Resource Capacity Water Availability Letter is needed to continue with the Permit Process. The letter will be provided by the CoCo Water Trust.

4. The Condominium is requesting to pay for the water hookups with four payments of $125,000 American Dollars over the next 18 months. As the Condominium makes the $125,000 payments, the CoCo Water Trust will make available water hookups which will replace water presently being supplied by the unauthorized well presently serving the four projects in our area.

5. Those receiving Trust hookups will begin paying water bills to the National Water Company, AYA.

6. Real Estate sales agents have advised us that our property values will increase.
A NO VOTE WILL MEAN

1. We will not receive construction permits and the money we have invested to obtain the permits will have been wasted.

2. The Canton of Carillo will proceed with legal action against us which may result in Demolition Orders.

3. We will be required to pay large amounts of money over an extended period of time to competent legal counsel to postpone any demolition orders.

4. There is no guarantee of how long the well will be able to provide the Condominium water either due to overuse or an administrative action from a government agency.

5. The price of membership in the Water Trust has gone up by $70,000 US Dollars and the availability of hookups has been reduced in the past two years when the Administrative Board declined to call an extraordinary meeting due to a sense that there was not enough homeowner support. This Board’s research does not see this trend changing in the event that we are unable to prevent legal action against us or the well is closed.

6. Real Estate sales agents have advised us that our property values will decline.

Proxy instructions.
Proxy forms.

Note: The Administrative Board has scheduled a meeting on February 13, 2014, at the Coco Palms Restaurant so that homeowners may ask questions to the Water Trust Administrator, the Permit Process Consultant and others to assist in their decision making process. A summary of that meeting will be provided to all Homeowners via electronic mail.

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Details

Date:
February 24, 2014
Time:
9:30 am - 5:00 pm
Event Category:

Venue

Extraordianry Meeting – Water Trust
CoCo Palms Restaurant
Playas Del Coco, Guanacaste Costa Rica

Organizer

HOA
Phone:
8703-4077
Email:
hoa@dvvlc.com
Website:
www.dvvlc.com

4 Responses to Extraordinary Homeowners Meeting – Water Trust

  1. A letter from HOA answering the questions from a homeowner.

    Yesterday a homeowner posed six questions to the administrative board regarding the extraordinary meeting. Since the questions were posed as part of a broadcast electronic mail using the reply all function, we declined to answer them at that time.

    We do, however, want to make sure that everyone understands as much as possible so that we can have a smooth election process on Monday. We will therefore answer them with this mailing to individual homeowners. This will also be posted on the website.

    1. If a homeowner owns three units, that homeowner will be allowed three votes and will be required to purchase three water hookups.

    2. All proxy votes must be notarized.

    3. We believe that no homeowner should be pressured to vote either for or against the proposal. To avoid any uncomfortable situation for a homeowner, we believe that no other homeowner should be involved in the counting of the votes. We will therefore provide a paper to each homeowner participating at the election to fill out and place in the ballot box rather than asking for a showing of hands. The attorneys who the board has contracted to conduct the meeting will count these votes. The same attorneys will also count each notarized proxy.
    If a homeowner wishes to pay for another attorney to conduct a second count, we ask for the homeowner to advise the Board 72 hours before the election of the name of the attorney. We will therefore allow that attorney to make a second count of all votes in public immediately after the results have been provided to the homeowners. We do not believe that any homeowner including the Board Members has a need to know how each individual has voted unless that individual voluntarily provides it. The additional attorney must sign a non disclosure agreement concerning the votes.
    4. As we have explained before, the first time we considered joining the Water Trust, there were enough hookups from the Coco wells available for all of us. That was almost three years ago. Since that time there are now fewer hookups available as other contributors have purchased them. There seemed to be homeowner agreement at the information meeting last week that the hookups we receive should be awarded in the order that homeowners make complete payment. The Board agrees with that method of allocation.
    The remaining hookups will come from the Sardinal wells and will be available when the Trust obtains the funds either from a bank loan or projects such as ours becoming contributors to complete the last portion of the pipeline.

    5. All homeowners are eligible to vote regardless of their lien status.

    6. The extraordinary meeting is scheduled for Monday, February 24, 2014, at the Coco Palms Restaurant. We ask that homeowners bring a passport or cedula with them for identification but nothing needs to be notarized.

    Check-in will begin at 9:30 am. The first quorum call will be at 10 am. The second quorum call will be at 11 am.

    We hope this answers any questions.
    Your Administrative Board
    Brian, Elliott and Ash.

  2. This is a generic end time, because I do not know how long the meeting will last. It could be 2 hours, or could be 4. Please do not pay attention at the end time.
    Same is for the general meeting.
    When user has the check-marks set for the emails, they will get the comments in their email. You should receive this comment as your settings are correct.

  3. Diane & Guy says:

    I just went on HOA site, don’t understand it says meeting starts at 9:30AM at CocoPalm and end at 5PM for Extraordinary Homeowners Meeting – Water Trust on the 24.

    For me it is way to long! Can you explain

    Diane

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