In Hot Springs Village at precisely 10 a.m. today Keith Keck called the assessment vote meeting to order and turned the meeting over to Don Schnipper to give his statement about the legality of the POA vote. After Schnipper make his opening comments he explained the voting possibilities.
There were 25,298 lots in good standing in the Village eligible to vote. 12,650 votes were needed for a quorum. Schnipper said if the POA lots were needed to reach quorum it would bring the eligible lot count up to 27,654, with a quorum of 13,828.
There were only 10,049 votes cast. The POA By-laws require the POA lots be counted to try to attempt to bring the count up to a quorum.
The POA lot votes are cast in a percentage reflective of the overall votes cast. The overall 10,049 votes cast were 5,999 for and 4,050 against.
With the POA lots counted that brought the vote up to 7,405 for and 5,000 against. The total vote was 12,405 with the POA lots counted. 13,828 votes were needed to make quorum. The vote count was 1,424 short of a quorum.
The POA can call for another vote on this issue and it will just need 25% of 25,298 lots to vote, that's 6,325 votes. If that were the case in today's vote the POA assessment would have passed.
The next POA board meeting will be on December 3 at 9 a.m. It will be a pivotal meeting discussing the direction the Village will take next to remedy its cash shortfall.