Comments on: Why do we need to create the new Capital Initiation Fee Fund? http://4kfee.com/against-it/why-do-we-need-to-create-the-new-capital-initiation-fee-fund-2/ What are your thoughts on the proposed fee? Thu, 09 Feb 2012 18:01:32 +0000 http://wordpress.org/?v=2.5.1 By: From Insider http://4kfee.com/against-it/why-do-we-need-to-create-the-new-capital-initiation-fee-fund-2/#comment-187 From Insider Sat, 17 May 2008 13:52:20 +0000 http://4kfee.com/against-it/why-do-we-need-to-create-the-new-capital-initiation-fee-fund-2/#comment-187 Heard from Big Canoe insider: “The great “hidden rabbit” effort the POA Board is attempting to pull off is their access to the amenity reserve fund [existing fund] for virtually any capital reserve project including consolidated debt--capital and operating. Our prediction in 1999 of the growth of the amenity fund to $1,000,000 came true in 2007, and after this depressed market, the fund will again produce millions of dollars over the years for the POA's unfettered use. Therefore it is not surprising to me that the Board doesn't discuss the amenity reserve fund. It's the Board's little cookie jar.” Heard from Big Canoe insider:

“The great “hidden rabbit” effort the POA Board is attempting to pull off is their access to the amenity reserve fund [existing fund] for virtually any capital reserve project including consolidated debt–capital and operating.

Our prediction in 1999 of the growth of the amenity fund to $1,000,000 came true in 2007, and after this depressed market, the fund will again produce millions of dollars over the years for the POA’s unfettered use.

Therefore it is not surprising to me that the Board doesn’t discuss the amenity reserve fund. It’s the Board’s little cookie jar.”

]]> By: Claudine B. Smith http://4kfee.com/against-it/why-do-we-need-to-create-the-new-capital-initiation-fee-fund-2/#comment-121 Claudine B. Smith Mon, 14 Apr 2008 18:20:03 +0000 http://4kfee.com/against-it/why-do-we-need-to-create-the-new-capital-initiation-fee-fund-2/#comment-121 I agree with Don Wyeth comment. I strongly disagree with the fee. It is not the time to make the homes harder to sell, as we have an inventory of homes now on the market larger than we have ever had. With just the homes now available it is estimated to take a minimum of 34 Months to return back to normal most likely even longer. This will decrease all the home values for years to come. I agree with Don Wyeth comment. I strongly disagree with the fee. It is not the time to make the homes harder to sell, as we have an inventory of homes now on the market larger than we have ever had. With just the homes now available it is estimated to take a minimum of 34 Months to return back to normal most likely even longer. This will decrease all the home values for years to come.

]]> By: Don Wyeth http://4kfee.com/against-it/why-do-we-need-to-create-the-new-capital-initiation-fee-fund-2/#comment-59 Don Wyeth Sun, 23 Mar 2008 22:43:10 +0000 http://4kfee.com/against-it/why-do-we-need-to-create-the-new-capital-initiation-fee-fund-2/#comment-59 I am 100 per cent against a selective type of fee which places payment on the few who are either buying or selling property. I note that Big Canoe's share of assessed value of property in Pickens County is over 478,000,000 representing 16 percent of the total value in the County. Dawson County probably has a similar hare value. Taking the tax digest for both counties and applying a mill number to these values, say 1/2 of 1 percent($0.005) would produce $239,000 annually from Pickens alone and probably the same from Dawson County. On a House assessed at 300,000 this would be $150. Since the tax rolls are ublic info this info should be easily obtainable. There is no fairness in giving the great majority of BC residents a bye on building up a CIF in the manner proposed. If so done unfairly, then values will head downhill fast and buyers will shy away from Big Canoe. One or two of our BC directors should get with the County governments to see if this can be automatically incorporated into the County tax digest in order that we could write it off as a real estate tax item. This has been done in Lee County in Florida where I used to live. I am 100 per cent against a selective type of fee which places payment on the few who are either buying or selling property.
I note that Big Canoe’s share of assessed value of property in Pickens County is over 478,000,000 representing 16 percent of the total value in the County. Dawson County probably has a similar hare value. Taking the tax digest for both counties and applying a mill number to these values, say 1/2 of 1 percent($0.005) would produce $239,000 annually from Pickens alone and probably the same from Dawson County. On a House assessed at 300,000
this would be $150. Since the tax rolls are ublic info this info should be easily obtainable.
There is no fairness in giving the great majority of BC residents a bye on building up a CIF in the manner proposed. If so done unfairly, then values will head downhill fast and buyers will shy away from Big Canoe.
One or two of our BC directors should get with the County governments to see if this can be automatically incorporated into the County tax digest in order that we could write it off as a real estate tax item. This has been done in Lee County in Florida where I used to live.

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