NCC Proposed 2011 Budget

Middle column 2010 Est. Ending Budget / Right col. 2011 Budget

 




































Note:

I see that 2010 Estimated Ending costs for Legal/Accounting is set at $19,393 which is $9,393 higher than originally budgeted for 2010. I suspect that this large overage is due to the Association expenditure on a needless suit which has been engaged in by the Condo BOD for over 2 1/2 years where I am suing for the BODs refusal to enforce Condo rules against Waterstone Resort Realty LLC. This suit was offered for settlement twice this year, there was no reply to the first offer 7 months ago (Waterstone did settle their 1/2 of the case 5/28/2010 ). The matter is still in the courts and still available for the same settlement of $6,500 and an assurance from the BOD that condo Rules and Regulations regarding the rental of condos will be enforced. IE: The Owners here are paying part of their dues due to the stupidity of the Board of Directors in not enforcing the documents initially and their continued refusal to end the matter.

  Misc F.Y.I.: 
1) Delinquency: Recent collection efforts by the office have reduced the total amount outstanding to $97,600 from a high of $114,825.
2) Liens: 3 more are in the process of being filed, these should be the last for the immediate future.

3) New Sale: The #604 condo (Brandi Everson) is reported as sold to a Mr. Covington. The price paid for it originally on 9/21/07, by Ms Everson was $174,900 for the 3/2 unit. As a guess, the new sale price should be around $90,000. We already have a Mr. William Covington here in #710, another 3/2, that sold to him 6/7/10 for $89,000. This was an old Waterstone foreclosure and was 1 of 4 in the 7 building that Compass Bank took back and resold. A good guess might be that Mr. William Covington of #710 is the same as the Mr. Covington of #604. This is a good time to purchase if you have the money.  Foreclosed condos or short sales are going for 50-60% of original sales prices. Taxes on 3/2s without Homestead Exemptions are running $1,150.

Should Changes be made 1/29/11 to the Rules and Regulations?

There is a draft update of the Condos Rules and Regulations available for view at:  http://nautilusrules.blogspot.com/  That draft contains only minor housekeeping corrections, nothing substantial, however this would be a good time to make any other changes that the Owners are interested in making.

In the past both Owners and Tenants have had notes (see below) on their doors when displaying plants on their front stoops/patios or having chairs outside during the day.

This would be a good time to add to the Rules and Regulations a specific authorization to allow residents to have and display nice plants in front of their units.

About 2 years ago a campaign began to clear all items from in front of units, although this was a good idea generally it was extended to cover displays such as those below. Some residents think such displays should be encouraged and the condo documents should be amended to allow both neat displays of plants and the use of chairs - providing such chairs are not left out when not in use or overnight.
Provide input to your Board of Directors in this matter at:
ljdpcb@gmail.com, jj9905@yahoo.com , nknight@ndkconstsvcs.com

Such displays show a good community spirit and should not be discouraged and it also looks nice! Let's not harass residents for such displays and our R and R's should be updated to allow them.