Thurs MCA Board Meeting – Prepare & Attend

Reminder of this week’s MCA Board meeting at the Wellness Center Thursday Nov 14 @ 2pm.

The MCA has not sent out any notice via email as they did that for the Special Meeting. The September Board meeting minutes indicate the Board approved a motion that notices of all future MCA Board meetings be sent via Constant Contact. So if they are now obligated to do so. Perhaps it will go out at the minimum required 48 hours. If sent the agenda will be worth a look.

There is also no indication it will be offered via Zoom even though 120 MCA Homeowners participated via Zoom and the meeting room was over capacity (estimated at 160).

At the Oct 30 Special Meeting the Board made a motion to loan $250,000 to TMCC (see our Notes and the video below). The motion was “tabled” which means the Board deferred voting on it so it will be back on the table for a vote at this meeting.

Video of MCA Oct 30 Special Meeting + Sample Comment

Notes on Oct 30 Special Board Meeting

Since that meeting we’ve found out that the MCA has previously advanced $46,200 to TMCC on July 30 for two months (early payment of an amount due Oct 1, so as of Oct 1 it is no longer an advance and is no longer outstanding).

We also received details of the new MCA/TMCC lease that came into effect on Aug 1. See the link for a full discussion, but key observations were:
1. Lease is only for 16 months to Dec 31 2025.
2. Has a lease payment of $65,000 per year BUT no longer requires TMCC to pay the $48,400 MCA assessment on the leased properties.
3. There is to be a “strategic planning process” between MCA and TMCC but specifies it will only include Board members and management (the exact same groups/people who have been managing and planning it the whole time).

The MCA Chair just published their summary of the lease in the Nov/Dec Meadoword. It does not include the fact that TMCC will no longer pay the $48k MCA assessment on the leased facilities. We can only speculate why it took 3 months to publish what is largely a cut-and-paste from sections of the lease. There can be no question about MCA Homeowner interest in that matter.

We have heard that TMCC may have received some sort of loan from another source, but don’t have any details (or know that this has in fact taken place). MCA would have had to approve any such loan per the terms of the MCA/TMCC lease.

Good questions for the Board this meeting
(most of the Board members receive these posts so we’re sure MCA Homeowners would appreciate answers to these matters without being asked at the meeting).

1. Did TMCC receive a loan from another sources? Did MCA approve such a loan and if so, how/when? Is this loan expected to negate any further cashflow shortfall of TMCC over the next few months, or does the Board expect to still consider a loan from MCA Homeowners?
   
2. Did the MCA approve the $46,200 advance/loan to TMCC in July as required by the 2021-24 lease that was in effect? If so, how/when did they do that as there is no indication of doing so in the July or August Board minutes.
   
3. Regarding the MCA/TMCC Strategic Committee:
   i) Why are there no Committee members outside Board members and management? The MCA Treasurer indicated the Board has wracked their brains for solutions to TMCC’s problems and can’t figure it out. They even asked for input. There are MCA Homeowners with relevant skills to help. Why not solicit help from MCA Homeowners to be committee members as was done for the last MCA strategy group?
   ii) Has this committee engaged any professional golf industry experts/organizations? If so, who and will they be providing a report to the community. Otherwise, why not?
   
4. Regarding payment of the Renaissance Access Fee:
   i) Has MCA done any other fee advances to TMCC in 2024?
   ii) At the Oct Special Board meeting the Chair indicated that the annual NET fee has dropped to $158,000. The quarterly fee should then be $39,500 not $46,400. Will the Jan-Mar fee be adjusted and reflect the overpayments for July-Dec? January Fee should be $39,500 * 3 – $46,400 * 2 = $26,100.