Homework for the board meeting...

Discussion in 'Sun City General Discussions' started by BPearson, Nov 16, 2021.

  1. BPearson

    BPearson Well-Known Member

    That is in fact true. You have one year to sell it and if you don't they will not refund it. Of course these days anything lasting more than 45 minutes is a long listing.
     
  2. MikeM

    MikeM New Member

    Not sure that makes sense. How does RCSC know or care about the length of time you take to sell. I think the year is the maximum time between actually selling (closing date) on one SC property and purchasing (again actual closing date) another SC property. Another thing I am curious about that has not been mentioned. Why isn’t the PIF a % of closing price? That way it would somewhat track the market, and align with construction cost inflation. Sure it would make projections more challenging, but would also be an automatic mechanism for inflation changes.
     
  3. BPearson

    BPearson Well-Known Member

    When real estate sales were slow, homes sometimes sat for more than a year. Of course the other thing was owner wanted more money than the home was worth and wouldn't budge on the price. There it sat. Rentals were easy and in some cases they held on to the second property for more than the year grace period. Anything after a year, resulted in losing your PIF refund.

    The proposal for an indexed PIF based on the homes selling price has been floated before. Whether you live in a 800K home on one of the lakes or the smallest 100K condo in phase 1, you still enjoy the same amenities. The bigger challenge would be when home prices plummet (and they will) PIF revenue would plummet as well sending every project to an early grave.
     
  4. FYI

    FYI Well-Known Member

    I'm not sure I wouldn't allow that one year moratorium to be extended provided you didn't go and purchase another home someplace else in between then come back and buy a house in SC for rental use?

    I can see where the RCSC is coming from with the way they assess the property. It gives them a more definitive projection on the dollars that will be generated due to home sales rather than just a fluctuating number of residence!?!?
     
  5. aggie

    aggie Well-Known Member

    Okay, got a chance to skim over the video of the meeting. The issue about having to pay the $4000 if you didn't pay it at the first home purchase in Sun City came approx at 1:18 into the video. It was President Wilson making the statement.

    The proposal to increase the PIF to $4000 as part of accepting the Long Range Plan came at approx 1:36 in the video. It seemed clear that this might well be in the form of a motion but should have been separated out as two motions to allow discussion by Members.
     
  6. BPearson

    BPearson Well-Known Member

    Here's the other problem aggie, there was no notice as required under our by-laws regarding the motion to increase the PIF. I guess they could argue the increase was bundled into what was on the agenda listed as: Agenda Items: 1) General Manager Bill Cook - Presentation of the Preservation and Improvement Fund (PIF) budget for Board of Directors approval.

    For those that weren't there and haven't watched it was a detailed analysis of the 103 million dollars expenditure over the next 14 years (through 2035). They did show variables if there were differing amounts of increasing PIF but it was by no means in the form of a formal motion you would expect to see. I would hope this wasn't a part of the new and improved transparency plan as we move forward.
     
  7. SCR

    SCR Active Member

    Finally got a chance to watch the video of the 11/18/21 BOD meeting.

    Some of my observations and opinions.

    I thought the PIF increase was voted down 1 or 2 meetings ago. If so this is an entirely new request/motion to increase the pif - correct?

    When they video tape the meeting it would be very nice if they showed a split screen when a member gets his turn at the micc.
    They should show the member to the right and the board to the left so we can see the boards reactions to the member comments.

    If they are not going to take an accurate count of attendees at the BOD meeting, they should at least show a wide angle view of the
    members for a few minutes so that we can take a count of attendees.

    Someone mentioned that all current board members were elected. That is not true. The board member who took Karens place was appointed by the board.

    There was discussion about holding the Membership meeting in the evening hours but it got a lot of push back by the board stating that they could not get a
    quorum in a night session. In the past that may have been true. However, times have changed and people are working longer (even in Sun City) so a morning
    session is not an option for them.

    I asked in another thread whether there was a job description write up for the GM. Simple answer was pretty much no (no one could find one). I'll
    go a step further and ask is there a job description for every RCSC employee? If we don't have one for the GM why would we have one for any other employee?

    There seems to be constant issues with the mics on stage with the board. Every meeting it appears that there are issues with the mics. May need looking into.

    Did anyone get the full name of the parliamentarian?
     
  8. BPearson

    BPearson Well-Known Member

    I think aggie posted her name and previous position held in another thread. Your comments SCR sent me scurrying to the then (before 2006) and the now (current) of the By-Laws regarding the board of directors. Holy shit. Then was Article 4 and now is Article 5. Did i mention, holy shit. The then empowered the board to be the end all be all. The now empowers the general manager to be the end all be all. You would not recognize the two in a side by side comparison. And of course there's more about the board having unending loyalty to the corporation (i still can't get my head around that).

    Every damned word was written by the general manager, unless she got the attorney to write some of it and of course we now know exactly how he interprets stuff. Talk about the fox guarding the freaking hen house. One could argue they didn't understand what she was doing...or perhaps they just didn't care.
     
  9. aggie

    aggie Well-Known Member

    It seems we got the answer to the new $4000 PIF amount. The 2nd reading of the motion to approve the 2022 Budget and the increase in PIF is on the agenda for the December 6 BOD Meeting. I'm not saying the increase isn't necessary but it should have been up for discussion before the motion was made. It's also a good thing if it isn't all spent on golf course upgrades above and beyond what's required by the State and the water issue.

     
  10. IndependentCynic

    IndependentCynic Active Member

    I for one would like to see a chart of PIF money collected/spent since day one and what the dollars went for by category -- eg, buildings, pools, golf, bowling, clubs, etc. I'd be shocked if golf didn't consume over 50% even though something like only 20% of our members golf?
     
  11. SCR

    SCR Active Member

    Just took a look on the American Institute of Parliamentarians and did not see the parliamentarian that was at the last meeting listed on their website.
    In fact, there are only 3 listed there from Arizona.
    Going to do some further looking.
     

Share This Page