Hello RiverWalk Members.  I'd like to share helpful slides which lay out the current three governing documents thresholds and the proposed documents thresholds to change those documents.  Numbers were reviewed by HOA attorney and approved.   I hope you find this helpful.  I will be voting NO.  Best, Annette Muscarella

Prepared by Myles Schack

Proposed Amendment Changes/Voting Threshold

Declaration:

Quorum - 30% or 410 votes needed to constitute a Quorum
The Declaration was amended in 2022 to reflect a percentage of 30/80% needed to pass an amendment, from a majority or 684 yes votes needed to pass an amendment to the Declaration.

The proposed amendment now calls for a 30/65% for passage of future amendments to the Declaration.

Let’s look at the 30/80% which we presently have.
500 votes cast* 80% = 400 yes votes to pass
600 votes cast* 80% = 480 yes votes to pass
700 votes cast* 80% = 560 yes votes to pass
Let’s look at the 30/65% presently being proposed
500 votes cast* 65% = 325 yes votes to pass
600 votes cast* 65% = 390 yes votes to pass
700 votes cast* 65% = 455 yes votes to pass

Articles:

·         The proposed amendment may be first passed by either the Board or the Membership.  After such approval of a proposed amendment by one said bodies, such proposed amendment must be submitted to and approved by the other said bodies.

·         Quorum - 30% or 410 votes needed to constitute a Quorum

·         Amending the Articles calls for a majority of those owners present/voted, not 684 votes of all owners in the community, in order to pass an amendment to the Articles.

·         Let’s look at the present threshold to amend the Articles

o   500 votes cast * 50% = 250 yes votes to pass.

o   600 votes cast * 50% = 300 yes votes to pass

o    700 votes cast * 50% = 350 yes votes to pass

·         Let’s look at the 30/65% presently being proposed

o   500 votes cast * 65% = 325 yes votes to pass

o   600 votes cast * 65% = 390 yes votes to pass

o   700 votes cast * 65% = 455 yes votes to pass

·         By passing an amendment to the Articles from a majority of those owners present/voted to 30/65% you will have increased not lowered the voting threshold to the Articles.  Note: the intention of putting forth the three (3) proposed amendment changes was to lower voting threshold for the Declaration, Articles and the Bylaws See the chart above.

·         Bylaws:

·         Quorum - 30% or 410 votes need to constitute a Quorum

·         The proposed amendment to the Bylaws calls for changing from a majority of unit owner or 684 yes votes for passage to a 30/65% in order to pass future amendments to the Bylaws.

·         Let’s look at how much lower the voting threshold would be if this amendment were to pass.

500 votes cast * 65% = 325 yes votes to pass.
600 votes cast * 65% = 390 yes votes to pass
700 votes cast * 65% = 455 yes votes to pass

·         Each of the three (3) proposed amendment changes have a different threshold for passage:  

o   Declaration.  To pass an amendment to the Declaration, requires a quorum of at least 410 owners present/voted and of the total votes cast 80% must be yes votes. See chart above.

o   Articles.  To pass an amendment to the Articles requires a majority of owners present/voted and of that majority 50% must vote yes for the amendment to pass.
o   Bylaws.  To pass an amendment to the Bylaws requires a majority of the 1,367 Unit owners or 684 yes votes for the amendment to pass.