[NOTE: Edited to remove 2 small paragraphs that contained financials. Full version is posted in the members section. Also, Renaissance Center fees have just been determined.]
Dear Palmira Homeowners and Members:
As you are aware, the Ronto Group, without prior notice, suspended operations of Palmira Golf and Country Club on September 30, 2008, and at present no services are being provided and no facilities are being maintained. This action creates a serious and immediate threat to all residents, owners and members of Palmira. Beyond the impact on our lifestyle of many of you, the absence of a club environment dramatically reduces the value of every residential property in the community.
Ronto has given Grace Lennon the General Manager of the Club to oversee the golf course facilities. Grace put together a seven member ad hoc committee comprised of homeowners who has worked tirelessly over the past several days to develop an action plan to protect our community and our individual financial interests. The committee consists of Peter Corio, Bob Fagliarone, Renate Matthaeus, Frank Percuoco, Ben Potter, Bob Wyant and Bob Turner. The committee has defined three specific objectives:
- Protect the long term value of our residential real estate
- Resume Club operations as quickly a possible
- Develop a budget and operating plan that is financially stable and sustainable
Considerable progress has been made on the third item. Budgets with various contingencies have been prepared, all operations have been evaluated and plans developed to maintain essential services, although cutbacks will be needed during a transition process. This will include the interim closing of Pronto, Village Grille and clubhouse dining areas. The Master HOA will temporarily take over operations of the Renaissance Center. It is anticipated that the cost of the operation of the Renaissance Center will be shared by all homeowners at an approximate annual cost of $600 which will be paid for through our Master HOA dues. Discussions have been held with key employees who are critical in oversight roles as we move forward. We hope to re-open as soon as it is lawful, responsible and practical.
Nationally recognized legal counsel has been retained to assist with the complex issues of how to re-open while club ownership is being resolved, and how to protect our long term interests including potential member ownership of the Club.
[Financial requirements removed]
To sum it up, we are all concerned and angry at what has occurred. We also believe that Palmira is a great community that will survive this crisis, and emerge stronger and more responsive to all its members and residents. We also believe that despite the terrible economic environment, the demographics favor us and the economy will eventually recover.
To insure the value of our homes, the aggressive approach we have outlined above needs to go forward. We ask for your trust and participation.
Sincerely,
The Palmira Ad Hoc Committee