Fellow Property Owners,
As we get ready to elect 3 Board members to
provide oversight of operations of the day-to-day business and affairs of Hot
Springs Village and, more importantly, represent our interests on the
Board, I want to share some of my concerns as you consider marking your ballot
that was mailed to you on Friday March 9.
For the following reasons I ask you to
support Bobbie Bateman, Frank Leeming and Keith Keck as our new Board members.
I have many concerns about the future and
viability of Hot Springs Village. Since I moved here in 2006 I
have attended many POA Board meetings and participated, either as a member or
visitor, in many of the committees. In general, I feel that the
Board has done an acceptable job in providing basic community services, as well
as oversight of the POA executing those services. Fee increases,
however, will be discussed below.
I do not think the Board has represented the
Property Owner’s interest to ensure the value of our investment
or maintaining the attractiveness and desirability for
non-resident Property Owners to eventually move here or new potential Property
Owners to invest.
The Board displays a seemingly disconnected
attitude representing that they know best, with little apparent regard for the
wishes of the resident Property Owners.
When I first started attending POA Board
meetings the rate and fee increases were kept to CPI adjustments or less.
Any increase above inflation was challenged, required supporting data,
and often rejected. As time past since the Cooper handover this
practice faded. In recent years rates and fees have skyrocketed,
but no increase in additional net revenue has been realized. The
main result of fee increases has been decreased utilization of the amenities
that resident Property Owners moved here to enjoy. (Note that
Resident Property Owners provide 70% of POA revenue). Fee
increases have been passed repeatedly, over the objections and refuting
rationale of concerned Property Owners.
Do you realize how much your cost of living in HSV has gone up in the last
6 years (mostly in the last 2) due to POA rate and fee increases?
Water and sewer has increased 38%, and new water rates effective in April
will substantially impact those with landscape watering; Coronado Fitness Center
annual fee is up 43%; Tennis annual has increased by 48%; golf daily green fee
has increased 79%; golf annual individual green fee has increased 92%; annual
private cart trail fee 38% and cart trail fee for a new carts registered for
the first time this year will be up $250 above this increase.
All these rate increases have generated NO net additional revenue;
just reduced the capacity of residents to enjoy the amenities!
(Note: The Bureau of Labor Statistics for Arkansas CPI increase
during this period was 9%)
How do you think these levels of increases
are viewed by non-resident Property Owners who may be considering a move at
retirement?
The Board talks about delinquent lots but
these skyrocketing nonsensical increases destroy the expectations of people who
invested here, why wouldn’t some walk away? The only observable
accomplishment of these rate increases is the narrowing of the price
differential between a Diamante type facility (or any other “private” club) and
HSV amenities owned by Property Owners, while destroying the economic incentive
to relocate to HSV and thereby degrading property values overall.
We have a great situation here in HSV but it could slip through our
fingers if not managed responsibly.
We need to elect 3 new Board members that
are independent, will not be rubber stamps or be manipulated, and will
represent ALL Property Owners, not a closed group within HSV.
I believe that Bobbie Bateman,
Frank Leeming and Keith Keck are the best candidates for the future
of HSV and will represent the Property Owners in a responsible and fiscally
conservative manner.
Please feel free to forward this to your
friends and neighbors.
Some additional notes for Property
Owners:
-
If you have not signed up for E-Blast for news alerts from the POA go to
www.hsvpoa.org
and sign up today, button in right column.
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If you have not signed up for Emergency Notification Sign-Up go to www.hsvpoa.org and
sign up, button on bottom right.
What ever you do, please vote.
It is your Village and your
Investment.
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