...and with vengeance! I came home Tuesday to find a letter in my mailbox from the Coalition of Concerned Colonies Co-Owners in response to the Annual Budget Hearing Notice sent by The Colonies F&I Committee. Many issues were brought up in the 6-page long letter for us co-owners to ponder and the letter arrived just in the nick of time for the Annual Budget Hearing that included:
- The Board not going to the next person down the line is a given and I wholeheartedly agree it would have shown goodwill and not let us co-owners continue to think we live in a dictatorship rather than a democracy
- A concern that seven (7) 18-24 story residential buildings proposed by LCOR (coincidentally Board member Pollak's company) to be built where The Commons are presently was not even raised at the most recent Board Meeting http://mclean.patch.com/articles/high-rise-condos-apartments-proposed-to-replace-mclean-commons
- The Reserve Fund standing at $392,000 as of the October 12, 2011 Board Member (Auditor recommended amount is $1,000,000); a concern repeatedly echoed by the Petition Candidates during the recent election
- Updates concerning the Silver Line Metrorail and how Colonies residents will get to it
- Comparing Colonies Condo Fees to neighboring condos was indeed a joke; Colonies does not have amenities like shuttles, utilities (Regency includes all utilities in their Condo Fee), an on-site store
- Budget presented by F&I to Colonies co-owners reflected a 3.7% increase for Water & Sewage despite the Falls Church City Council enacting an 8% increase made effective October 1, 2011 (very poor budgeting unless everyone on the F&I Committee and Board for that matter has been living under a rock and does not read a newspaper or get community news email updates)
- The 2 companies operating at The Colonies with Dun & Bradstreet reports having the Administrative Office and the Clubhouse addresses is very much a concern; instead of off-shore accounts to funnel money to, are funds being funneled to these 'dummy' corporations which are certainly not accounted for in the Budget? Having General Manager Carlton, K. Carlton (Carole's relative perhaps) and Board of Directors President Lauricella as Officers of these companies is certainly more than enough reason to more than question these entities particularly with Colonies Counsel Robert Segan listed as the Registered Agent.
- Administration Building was at one time the Sales Office that contained models of 3 units; based on research conducted with the Fairfax County Department of Tax Administration Real Estate Assessment website and the Office Condo Fee amount The Colonies pays each year (Budget Line Item 6150), there are now 2 units (1,168 and 834 square feet). Suggestion was to make unit(s) available for sale which would decrease the condo fee amount paid annually not to mention property tax and that money could go to the Reserve Fund; the Basement of the clubhouse with exception of the Bathrooms and the gym is not being used.
- Electronic Funds Transfer implementation would be such a relief and/or looking into alternative ways to reduce postage and printing expenses
- Increasing advertising for The Colonies Crier; so many options include soliciting advertising from local establishments such as Lost Dog and Salon Nouvelle inSafeway Shopping Center
-- Increasing Clubhouse revenue; rates are reasonable for area (6 hours: $300 or All-Day Rate: $425 + $200 Deposit; rates are $50 higher during holiday season)
-- List rates in Colonies Crier to remind residents and co-owners of option (I know people who have sent agreement out to 20+ people they know trying to book clubhouse just to help boost revenue)
-- Commencing June, give holiday party discount for all parties booked before September 15 that are held Monday, Tuesday and Wednesday evenings
- Investigating Insurance and benefits received by employees
- Delaying adopting the budget in favor of creating a task force with a 3-month charter and delay the implementation of the condo dues increase until no later than March 1
As usual, the Budget Hearings proceedings were monotonous with many ideas brought forward by the educated and well-versed co-owners that were noted by the F&I Committee but will likely fall on deaf ears. The two security guards on hand for the duration of the 3-hour meeting was an effective use of time vs. them being on patrol (or were extra forces for the evening). Time will tell if any of the co-owners who brought forth ideas will actually have an effect!
- The Board not going to the next person down the line is a given and I wholeheartedly agree it would have shown goodwill and not let us co-owners continue to think we live in a dictatorship rather than a democracy
- A concern that seven (7) 18-24 story residential buildings proposed by LCOR (coincidentally Board member Pollak's company) to be built where The Commons are presently was not even raised at the most recent Board Meeting http://mclean.patch.com/articles/high-rise-condos-apartments-proposed-to-replace-mclean-commons
- The Reserve Fund standing at $392,000 as of the October 12, 2011 Board Member (Auditor recommended amount is $1,000,000); a concern repeatedly echoed by the Petition Candidates during the recent election
- Updates concerning the Silver Line Metrorail and how Colonies residents will get to it
- Comparing Colonies Condo Fees to neighboring condos was indeed a joke; Colonies does not have amenities like shuttles, utilities (Regency includes all utilities in their Condo Fee), an on-site store
- Budget presented by F&I to Colonies co-owners reflected a 3.7% increase for Water & Sewage despite the Falls Church City Council enacting an 8% increase made effective October 1, 2011 (very poor budgeting unless everyone on the F&I Committee and Board for that matter has been living under a rock and does not read a newspaper or get community news email updates)
- The 2 companies operating at The Colonies with Dun & Bradstreet reports having the Administrative Office and the Clubhouse addresses is very much a concern; instead of off-shore accounts to funnel money to, are funds being funneled to these 'dummy' corporations which are certainly not accounted for in the Budget? Having General Manager Carlton, K. Carlton (Carole's relative perhaps) and Board of Directors President Lauricella as Officers of these companies is certainly more than enough reason to more than question these entities particularly with Colonies Counsel Robert Segan listed as the Registered Agent.
- Administration Building was at one time the Sales Office that contained models of 3 units; based on research conducted with the Fairfax County Department of Tax Administration Real Estate Assessment website and the Office Condo Fee amount The Colonies pays each year (Budget Line Item 6150), there are now 2 units (1,168 and 834 square feet). Suggestion was to make unit(s) available for sale which would decrease the condo fee amount paid annually not to mention property tax and that money could go to the Reserve Fund; the Basement of the clubhouse with exception of the Bathrooms and the gym is not being used.
- Electronic Funds Transfer implementation would be such a relief and/or looking into alternative ways to reduce postage and printing expenses
- Increasing advertising for The Colonies Crier; so many options include soliciting advertising from local establishments such as Lost Dog and Salon Nouvelle in
-- Increasing Clubhouse revenue; rates are reasonable for area (6 hours: $300 or All-Day Rate: $425 + $200 Deposit; rates are $50 higher during holiday season)
-- List rates in Colonies Crier to remind residents and co-owners of option (I know people who have sent agreement out to 20+ people they know trying to book clubhouse just to help boost revenue)
-- Commencing June, give holiday party discount for all parties booked before September 15 that are held Monday, Tuesday and Wednesday evenings
- Investigating Insurance and benefits received by employees
- Delaying adopting the budget in favor of creating a task force with a 3-month charter and delay the implementation of the condo dues increase until no later than March 1
As usual, the Budget Hearings proceedings were monotonous with many ideas brought forward by the educated and well-versed co-owners that were noted by the F&I Committee but will likely fall on deaf ears. The two security guards on hand for the duration of the 3-hour meeting was an effective use of time vs. them being on patrol (or were extra forces for the evening). Time will tell if any of the co-owners who brought forth ideas will actually have an effect!
The Budget Hearing represented nothing more than compliance with the By-Laws. It’s apparent that, despite the Board and Management stated interest in “transparency and communication,” we shouldn’t have expected that this hearing would provide us with an opportunity to alter any decisions by raising valid, NEW ideas. It was a done deal.
ReplyDeleteThe 3-hour long evening starting with Bruce Freitas, F&I Chair, giving the audience a condescending Accounting 101 class --"What is a budget", "How do we derive a budget", "How many of us keep our own personal budgets,” etc. What a waste of time!
As noted in the earlier blog entry, lots of interesting expense-cutting ideas were discussed. Freitas took notes--in between checking the time on his cell phone--and said he'd submit the ideas to the Board for consideration. But that really means nothing, since he later indicated that the F&I committee had already essentially met with the Board and that the proposed budget will be adopted. This is a system that has NO checks and balances. They’re stuck in the 80s, when The Colonies was a sought-after address. Seriously, in addition to protecting the investment the current co-owners have made, shouldn’t we be looking at a long-range plan to encourage NEW owners to think we are a viable residential option in the Tysons/McLean real estate market??
I think there are only two things that will save this place --new blood on the Board and a desperately needed change to the By-Laws put out to vote. They were written 37 years ago, with amended changes in 1986 – a quarter of a century ago! We can no longer afford to live in the past.
When will we get a smart, progressive group of people involved to make the hard changes that need to be made? We simply can’t keep raising the condo fee! That is NOT the answer. I’d suggest that all concerned co-owners attend every Board meeting they can, listen to the decisions being made on our behalf and observe the progressive physical deterioration of our property. Then, next year, use the power of our vote to get rid of some of the dead weight and start enacting change.