IMPORTANT MESSAGE - CALL TO ACTION!

**PLEASE VOTE** TODAY!! BEFORE 4PM

 

**WE NEED A CHANGE NOW TO STOP THE DRAINAGE OF MONEY DUE TO POOR DECISIONS AND LACK OF TRANSPARENCY!**

 

WHERE IS THE MONEY:

3 years of waste of time, money and the deterioration of pur property. 

 

Focus on micromanagement and personal relationships 

versus professionalism and transparency 

COSTED US MORE THAN $5.3 MILLION DOLLARS.

 

 

We have paid numerous increases in maintenance and special assessments totaling $11 million dollars in 3 years, yet we see no impact on the property. Everyone asks: WHERE IS THE MONEY?

 

The board lacks the ability to conduct the community, maintain the property, and manage finances transparently.

 

 

CAUSES OF THE FINANCIAL CRISIS:

RECURRENT SPECIAL ASSESSMENTS DUE TO SHORTFALLS

Numerous special assessments and deficits reveal poor financial planning, questioning the board's reliability. 

60 units paid a total of $7,887.12 = $473,227.20

300 units paid a total of $9,460.31= $2,838,093

 

Several Loans taken by this board and not fully repaid:

- $430,000 requested from Valley National Bank in November 2022.

- $433,000 promissory note signed in February 2023 (This was a hidden special assessment).

- $265,000 increase in the promissory note in 2023 (Another hidden special assessment).

Now the board approved $2.6 million!!

TOTAL OF LOANS TAKEN THAT WE STILL OWE!

- **Total: $3,728,000**

 

LAWSUITS: They paid Settlements related to water intrusion from roof leaks in fiscal year 2023 - $255,686.

 

Poor decisions 

HIGH TURNOVER OF COMPANIES AND EMPLOYEES

 

The board spent 3 years just changing companies and all of them “failed “

- 6 managers changed.

- 5 maintenance companies shifted.

- 4 pool companies replaced.

- 4 landscapers changed.

- 2 engineers swapped.

- 3 pest control companies replaced.

- 2 roofers replaced.

- 2 banks changed.

- 5 janitorial companies changed.

 

All this raises concerns about the board's management choices and ability to run this property effectively.

 

**OVERSPENDING**

Payouts to the Board Vice President for damages in her apartment - $65,000 paid when actual damages were $8,500 (according to the Engineer's report), while other residents suffering leaks were completely ignored.

 

**LACK OF COLLECTION ENFORCEMENT**

For three years, no 30-day notices have been consistently sent until February 2024. Rented units are up to $30K delinquent. They didn’t even enforce collections from the rental of units if the owner was a friend of the board.

 

**AUDITS**

Audits demonstrate how unit owners' money is spent and guide board decisions. Since February 2021, no annual audits were conducted until pushed by residents' attorney in October 2023, now updated to February 2023.

 

With all that wasted money, we could have already done all the roofs and half of the projects required by the 50-year inspection. Furthermore, we wouldn't be paying today the scandalous sum of $1200 for maintenance for a property in permanent deterioration due to lack of funds. 

 

This year is very important for Villa Dorada.

We must urgently face the projects postponed for 3 years.

We can't keep wasting time.

We cannot leave these big decisions in the hands of a group that only demonstrated incompetence and lack of transparency. Too focused on minor issues and neighbor fights

We need a change now!

Let's vote for a group with the capacity for action that gets to work immediately!

Vote for directors

Bdg 2 Leyla

Bdg 6 Henry

Bdg 7 Peter

Bdg 8 Dory

Vote for at large

Francisco

Lida Yanella

Gaby

Johnny