Community News

To continue our exploration of the drainage issues raised by the Oakmont Golf Club (OGC), we should cover a few topics that were not addressed in the previous article.

It should be noted that OVA Board Vice President Tom Kendrick (and board designee on the golf course issue) made several comments at the July 10 Town Hall indicating that he is receptive to OGC’s position that OVA cost sharing with OGC on the water drainage issue is a matter of fairness and responsibility. OGC has promoted this argument continuously over the past year at town halls and in the OVA’s own corporate newsletter, the Oakmont News. This warrants further exploration.

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Director Goodwin’s Fireside chat at the East Rec on Monday, July 23 was well attended. The purpose was to hear how neighbors feel about financially supporting the Oakmont Golf Club (OGC.) The consensus among attendees is that the Oakmont Golf Club is not OVA’s responsibility.

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The following are the July 17th motions, directors votes, and financial decisions:

All directors were present and all 7 voted. $138,354. balance from Year end 12/31/2017 was approved by a vote of 7 – 0 to transfer the Asset Replacement Fund from the Operating Fund.  This is an annual function of the BoD.

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Director Greg Goodwin will be hosting the OVA Board of Directors second Fireside Chat on Monday, July 23rd from 4 p.m. to 6:00 p.m. at the East Recreation Center. Mr. Goodwin will be on hand to discuss member thoughts and questions regarding the future of the Oakmont Golf Club (OGC).

To read more about the issues surrounding OVA and OGC click HERE

The Oakmont golf courses were built over a period of years between 1963 and 1980, with the first nine holes of the West Course opening in 1964.  

Representatives of the Oakmont Golf Club (OGC), in Oakmont News articles and repeatedly at their presentations to the community in town halls, have claimed that the drainage, creeks and ponds on the golf course perform a service to the community for which OGC should be reimbursed by OVA. Critics of the proposal see this OGC claim as specious in that the flow of water to, and storage on, the courses are not design flaws for which OVA should compensate OGC.  They are actually golf course design features.

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During the recent Finance Committee meeting on June 14, OVA President Steve Spanier sat in for Finance Committee Board Liaison Tom Kendrick.

The Agenda included the Treasurer’s Report, Capital Fund expenditures of the East Rec Center and the recently completed physical inspection for the 2019 Reserve Study Report.

 

Several members of the community were in attendance and joined in the conversation regarding the 2019 Reserve Study. Answering a question as to whether the Reserve Study will include realistic costs for the Berger Remodel in 2020, OVA Manager Kevin Hubred stated that if accurate costs for the Berger remodel were included we would have a negative funding percentage and this would look very bad for prospective buyers of Oakmont homes.

OVA Treasurer Elke Strunka countered Hubreds statement, saying that including this accurate accounting will make it clear that a loan would be necessary and that a line should be included showing loan proceeds as the funding source. Hubred held to his view of not including the costs for Berger since they were estimates and not hard costs. It was then pointed out that best estimates are what we have and they must be included in the Reserve Study accounting.

Nordby Construction provided OVA an official estimate of $4 million in costs for the Berger remodel. To retain the current Reserve Study cost of $250,000 would result in a false funding percentage. An audience member pointed out that savvy buyers and current homeowners want to see a true reflection of OVAs financial health and to provide a materially inaccurate report is a misrepresentation of the Association’s financial health.

Strunka went on to note that a considerable number of items scheduled to be repaired or replaced in 2018 have not been completed. Hubred and Facilities Manager Rick Aubert were to meet the following day, June 15, to be updated on the Reserve Study report.

It was also reported that OVAs new Reserve Analyst Robert Browning has completed the required 3-year visual inspection of OVA assets and is processing this information. Hubred said that the final version will be available for interested OVA members to view in July.

The next Finance Committee meeting is scheduled for July 12.  Ms. Strunka said she is conducting an analysis and will report the details of a possible loan to cover maintenance and remodel expenditures, with the understanding that interest rates are likely to be lower in 2018 than in the future.

During the May 1 OVA board meeting Strunka mentioned that the issue of such a loan had come up at the Finance Committee meeting in April. She added, “If the board would like me to consider some different financing scenarios I would look into it and prepare an analysis for the next (i.e. June 19) board meeting.”  Strunka said she was waiting for the completion of the Reserve Study visual inspection for more accurate numbers.

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