We are NOT in a “Financial Crisis”

In the last Board meeting on Jan 16, the presenting Board members said we were in a “financial crisis” TEN TIMES. TEN!!

There is no doubt at all that this year has been a very challenging in many ways including financially. Absolutely no question. The Board has had to re-work the budget a couple of times.

But “challenges” are not at all the same as a “financial crisis”.

Here is what we know as of the last available financial information on the MCA:

We have $4.2 million cash in the bank. $1 million is not currently “usable” because it has to be left on deposit to support our bank loans (Footnote 1).

Our income statement shows we are $63,000 AHEAD OF BUDGET.

IT IS COMPLETE NONSENSE TO SAY WE ARE IN A FINANCIAL CRISIS
AND IT IS IRRESPONSIBLE TO SAY THAT WE ARE (let alone 10 times).

We have met the challenges of the year and we are doing OK.

There is a legitimate need to increase our Replacement Fund which is only $618,000. But even if a multi-million dollar need to repair or replace some of our infrastructure comes up and we don’t have the funds on hand, with 3,500 homes in The Meadows it is likely manageable: $1 million needed = $286 per home average. So unless many MCA Homeowners will be pushed into a “financial crisis” over $286, we do not have a “financial crisis”.

We do owe $5.3 million of debt, but we have been making payments faster than required. It has been entirely manageable with our large assessment base. We have 10 years to repay the largest portion. There is an upcoming rate reset which will result in increased annual payments of about $90,000 which is $25/home. THAT’S IT: $25.00.

We DO want to have a golf partner in place by summer. We are currently in the busy season where we as the operator can make real profit (although this opportunity is currently being wasted by imposed operating restrictions). There are interested golf operator/investors but we need a golf expert leading a team in those discussions. Not non-golfers, and not even golfers. We do have a resident golf expert who has owned and operated golf courses for many years who is working on this and making good progress.

It is very clear that we are in no way in an imminent “financial crisis”.

So why are the 3 officers trying to convince us there is a financial crisis?

Why are they creating a bogus budget to to make us believe that we MUST make a deal with Benderson?

Why are they telling us that the golf courses AREN’T subject to CE’s and WMC’s, when they plainly ARE in the previous and latest contracts?

Why are they telling us that no golf operators were interested in our courses, when there are operators who are interested with reasonable terms (not mandatory 54 holes in play, with mandatory investment of $25 million).

Why are they telling us the only solution is to DO THE BENDERSON DEAL RIGHT NOW!

Is that the “leadership” we want and need?

If you are an MCA Homeowner* and would like to discuss this and other MCA matters with your fellow Homeowners*, join the “For The Meadows” Facebook group. Please provide your address in your request to join the group so your ownership can be confirmed. (* or spouse of a Homeowner)

(subscribing just means you’ll get new posts directly to your email inbox)

Footnote 1

The requirement to have $1 million on deposit is unusual and onerous. We are “lending” $1 million to Centennial so they can lend it back to us at a much higher interest rate. This loan agreement was negotiated by our current Treasurer when they were previously an MCA Officer.

Posted

January 24, 2026

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Website Admin

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7 responses to “We are NOT in a “Financial Crisis””

Michelle Johnston

January 25, 2026

Listen to Jan Lazar and her financial analysis. ________________________________

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1. Website Admin
  
  January 25, 2026
  
  We have. That is a large part of the problem (both as current Treasurer and past Treasurer/President).
  Please read these posts if you haven’t already
  
  2026-27 MCA Budgets have BIG assumptions and errors
  
  The Treasurer’s Financial Documents are VERY MISLEADING
  
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Jeff Nicholas

January 25, 2026

Any word on the bankruptcy case between MCA and the former Meadows Country Club? A decision in favor of the country club throws another dimension into the club financials (I.e., money will need to be paid back to the country club and its former members) and will decide who actually owns the golf course maintenance equipment.

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charles alexander

February 1, 2026

i have been to all the meetings.

The attorneys responded to ALL the points brought up at the meeting a few weeks ago and completely debunked these folks who do not want a deal with Benderson.

I also went to meeting when Todd, (forgot his last name) Benderson Development director who sat for 90 minutes and again debunked the same group of people.

I believe based on their track record, Benderson Development would be an ideal

partner for the Meadows and its resident.

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1. Website Admin
  
  February 2, 2026
  
  The Benderson director was Todd Mathes.
  At the prior Board meeting the President, VP and MCA lawyer all very clearly stated that the golf courses weren’t included in the parcels in the “wetlanding” section (42). They were also clear that was not the intention. Then the draft contract published 48 hours have them CLEARLY in section 42. So their statement on this was 100% false, far from debunked.
  Mr. Mathes acknowledged that the golf courses definitely were in that section. He agreed they should not be as long as they are operating and agreed they could be taken out. Far from debunked but appreciate his flexibility (if the change is made).
  
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  1. Harold E Haynes
    
    February 2, 2026
    
    It is strange that the golf course parcels are listed In the Benderson Contract contract that have been shown to the MCA Members. We have been verbally told they are not there, then at the meeting will be removed. We were verbally told they will be removed. I don’t care what the intentions are by the Benderson Attorneys and the MCA Negotiators when they wrote the contract. I don’t accept “Trust me I’ll fix that” in any contract. Show us the changed rewrite of the contract. No quality attorney will release any paper until it is written showing the intent and approval of all parties involved.
    
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  2. Website Admin
    
    February 2, 2026
    
    That was at the Jan 16 meeting. They lawyers explained that having the golf courses in the wetland section was “not the intent”. They had no answer when it was pointed out that the words in the contract matter, not the “intent” of the parties.
    When the revised contract came out 48 hours later, it continued to be very clear the courses are in the wetland section (42). This was true of all 5 versions that came out in the next 24 hours.
    
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