Land Purchase - Owner Assessment

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Original Message:

Re: Land Purchase - Owner Assessment (by Steve Droulard):

Well. It is 2 days before the proxy vote is due. Our maintenance fees for 2008 have gone up about 6% from 2007 to $915 for a 2BR. The loan payment for the land will be ~$260/yr for a 2BR for the next 10 years.

All things considered, I am voting against the land purchase. But ...... It is a wasted vote as CR said that the current talley is about 30:1 in favor of the land purchase.

My understanding is that without the purchase we stay status quo until 2036.

I'm now paying more annually than what it would cost me to rent a unit for a week.

I'll probably try to get $0.40-0.50 cents on the dollar back on the original investment.

Happy new year all.