Home › Forums › Community Meetings and Events › President’s Report – Board of Directors Meeting 2/24/22 › Reply To: President’s Report – Board of Directors Meeting 2/24/22
When I ran previously I stated that I would support a restaurant if I could be convinced that it would not become a losing proposition that would continue to grow each year. While the current agreement shows a diminishing net loss over the first four years, it then becomes revenue neutral in year 5. Further the agreement serves to incentivize the operator to earn extra money by turning a net profit. When that happens the Association will also benefit by sharing half of that profit.
In my judgement, another survey that would have cost a minimum of $5000 to produce and mail out would not have told us anything other than what you have stated above. I felt that limiting the net loss and becoming revenue neutral would serve the best interests of the community. I recognize not everyone agrees with that stance, but also many other residents agree.
Spending money wisely is of great concern to me. I would correct your accusation that I committed $15 to $20 million over ten years to Anthem Community Council. Neither I nor the rest of the SCA Board voted for that expenditure. The Anthem Community Council voted to do that and as a contributing HOA, Sun City Anthem is required to pay that assessment. I am not very happy with the planning of ACC in their planning and have voiced my concerns at their quarterly meetings. This is something that I have suggested that more of our residents participate in and stay to voice their concerns.
A major problem of ACC was that they did not have a plan for the future from their beginning. They were slow to build an adequate reserve fund and did not project their needs to set dues to cover an adequate level of funding. ACC is now having to face financial pressure to do their regular maintenance, fund mandated City of Henderson directives to improve line of sight issues, and to fund reserves to cover mandated turf removal, replace dying plantings, and to install new watering systems. I am committed to not seeing that situation happen to SCA. I am committed to making sure that our reserve funding remains strong and that we look at spending money wisely on those items and amenities that will serve to grow value for our community. We need to be looking at our future to ensure that we remain a top 55+ destination community despite being over 20 years old. There are many newer 55+ communities in our area and people have many choices today. We consistently rank in the top because of our well maintained buildings and the wealth of amenities and opportunities that we provide to our residents. This is what makes SCA a highly desirable community to live in. Last, we need to be aware that for what we receive our dues are some of the lowest in the valley. The key in all of this is to spend money wisely. I also fully realize that we will have differences as to what is wise.