Posted by plainolddad: November 12, 2020 at 2:58 pm
Live on a canal and pay a canal fee – live on the golf course and pay a golf fee ??? Don’t have an issue with some amount of cost involvement by all the community but spreading the cost equally among everyone isn’t it. Somehow the golfers and adjacent fairway lots need a higher proportion involvement just as the canal does.
What is revenue flow?
Who gets the profit if there is one, HOA and operator?
Who has liability for losses, homeowners?
Not that it will change the outcome, this is a done deal.
Initial assessment $15,000, $25,000?
Annual assessment $5000?
Just curious.
Posted by WAYNE PEARSON: November 2, 2020 at 3:10 pm
While I admire our BOD for their invitation to owners for their interests I am concerned that we are not getting the whole picture. I fear that the $4.4 MILLION could end up looking like $25 to $30 MILLION. Consider the cost restore, operate and maintain the golf course, cost construct a new club house, construct a new swimming pool, a kids play ground and walking paths. Each of these amenities will require additional cost to operate and maintain and insure,
I presume anything done will be in a phased development. How does the current BOD see this phased plan. How will future Boards view the plan
I hear about increased property values but I have seen no evidence to support this conjecture. How do real estate market analysts (not real estate agents), foresee the real affect on property values. Does this also mean an increased tax base?
I understand we have or will hire a community planner to suggest how to use the property if purchased. I can foresee grand plans if they are using someone else’s money.
I for one would like our BOD show the entire forecast picture, not just one corner.
That all sounds good; however, what is the expected assessment cost for each property owner? We have several older residents in our community that are on fixed incomes. It would be totally unfair to kick them out of our community after living here for many decades because now they cannot afford a large assessment fee. If it wasn’t for them, we would not even have this community.
I am all for improving our community; however, not at the expense of cheating our long term residents and forcing them out of their homes.
Posted by glennkeebler: November 2, 2020 at 9:14 am
If this purchase is approved, it will add thousands of dollars to our assessment. Even as hard as that is to accept, it will not likely end there. Once ownership of the golf courses is obtained by BPCA, the responsibility for any shortfall in income will become the BPCA owners liability on a continuing basis. For example, if the monthly cost to operate the golf courses is $250,000 and only $200,000 is collected, the $50,000 shortfall will become the owners responsibility and would require additional assessments. Golf course ownership by Homeowner Associations does not have a good track record. It is risky business best left to investment groups. I ask that everyone who is affected by this decision to go on-line and read the various articles relating to the subject. The decision to purchase the golf courses could have serious negative financial consequences for each of us for years to come. Let’s not place this unknown on the current and future owners in Bay Point.
Is there an option to only buy one Golf Course (Nicklaus Course) and then have the current owners sell the additional homes and condos to spread out assessment dues?
If we become the owners, do have to pay to play on these courses?
Will others staying at the hotels have primary access to play?
Other than the property values dramatically increasing for residents living along the golf courses, the other property owners may only gain minimal value. Because of this will others have to pay the same assessment fees? I live on the canal and already pay a canal fee where others not living on the canal do not. So since I do not live on these golf courses will I still be assessed this golf course fee? Based upon this write up, the answer appears to be “YES”!
If so, then everyone living in Baypoint should also be assessed the canal fee for the same reason “Increased Property Value”
Posted by Steve Geczy: November 2, 2020 at 6:49 am
As a long time owner and resident on Marlin Circle, I support Mr. Wanner’s proposal for the future improvement and enhancement of Bay Point. A small monthly monetary investment by all property owners now will pay big dividends in the future for all current and future property owners. If this proposal is approved by a majority vote, our community could be once again the “Premier” community in the Florida Panhandle! This proposal should be the foundation for the yet to be developed 5 to 10 year Bay Point Community Strategic Plan!
Live on a canal and pay a canal fee – live on the golf course and pay a golf fee ??? Don’t have an issue with some amount of cost involvement by all the community but spreading the cost equally among everyone isn’t it. Somehow the golfers and adjacent fairway lots need a higher proportion involvement just as the canal does.
What is revenue flow?
Who gets the profit if there is one, HOA and operator?
Who has liability for losses, homeowners?
Not that it will change the outcome, this is a done deal.
Initial assessment $15,000, $25,000?
Annual assessment $5000?
Just curious.
While I admire our BOD for their invitation to owners for their interests I am concerned that we are not getting the whole picture. I fear that the $4.4 MILLION could end up looking like $25 to $30 MILLION. Consider the cost restore, operate and maintain the golf course, cost construct a new club house, construct a new swimming pool, a kids play ground and walking paths. Each of these amenities will require additional cost to operate and maintain and insure,
I presume anything done will be in a phased development. How does the current BOD see this phased plan. How will future Boards view the plan
I hear about increased property values but I have seen no evidence to support this conjecture. How do real estate market analysts (not real estate agents), foresee the real affect on property values. Does this also mean an increased tax base?
I understand we have or will hire a community planner to suggest how to use the property if purchased. I can foresee grand plans if they are using someone else’s money.
I for one would like our BOD show the entire forecast picture, not just one corner.
That all sounds good; however, what is the expected assessment cost for each property owner? We have several older residents in our community that are on fixed incomes. It would be totally unfair to kick them out of our community after living here for many decades because now they cannot afford a large assessment fee. If it wasn’t for them, we would not even have this community.
I am all for improving our community; however, not at the expense of cheating our long term residents and forcing them out of their homes.
If this purchase is approved, it will add thousands of dollars to our assessment. Even as hard as that is to accept, it will not likely end there. Once ownership of the golf courses is obtained by BPCA, the responsibility for any shortfall in income will become the BPCA owners liability on a continuing basis. For example, if the monthly cost to operate the golf courses is $250,000 and only $200,000 is collected, the $50,000 shortfall will become the owners responsibility and would require additional assessments. Golf course ownership by Homeowner Associations does not have a good track record. It is risky business best left to investment groups. I ask that everyone who is affected by this decision to go on-line and read the various articles relating to the subject. The decision to purchase the golf courses could have serious negative financial consequences for each of us for years to come. Let’s not place this unknown on the current and future owners in Bay Point.
Do we really need 2 golf courses?
Is there an option to only buy one Golf Course (Nicklaus Course) and then have the current owners sell the additional homes and condos to spread out assessment dues?
If we become the owners, do have to pay to play on these courses?
Will others staying at the hotels have primary access to play?
Other than the property values dramatically increasing for residents living along the golf courses, the other property owners may only gain minimal value. Because of this will others have to pay the same assessment fees? I live on the canal and already pay a canal fee where others not living on the canal do not. So since I do not live on these golf courses will I still be assessed this golf course fee? Based upon this write up, the answer appears to be “YES”!
If so, then everyone living in Baypoint should also be assessed the canal fee for the same reason “Increased Property Value”
As a long time owner and resident on Marlin Circle, I support Mr. Wanner’s proposal for the future improvement and enhancement of Bay Point. A small monthly monetary investment by all property owners now will pay big dividends in the future for all current and future property owners. If this proposal is approved by a majority vote, our community could be once again the “Premier” community in the Florida Panhandle! This proposal should be the foundation for the yet to be developed 5 to 10 year Bay Point Community Strategic Plan!
Great work by the Board and this committee!