Another attempt is going to be made to lower the 75% vote now required to amend Bay Colony's Declaration. It certainly would be easier to get 60% to agree than to get 75%. On the other hand, if 75% of us agree on a change it is definitely more likely that the proposed change is truly necessary and desired by a significant majority of owners. Excellent examples of this ability to get out a 75% vote are the votes to refinance the Rec Bonds and to dissolve the Rec District.
Boards of Directors come and go. We all bought into Bay Colony with the Declaration we now have in place. Given the past history of some Boards and the relative ease with which any election can be and has been gerrymandered, your blogger is firmly against this proposal.
What's your opinion?
Who will shoot this down?
Has anyone calculated what this futile election will cost us?
(Following added 6/26:)
Any election to change our doc's should be structured so it's bullet proofed against corruption. If not, the results will probably be challenged. An honestly run election will unquestionably fail to get the necessary 75%.
Who will shoot this down?
- Owners now renting their units
- Those who think they might want to rent out in the future
- Those concerned that rental restrictions would impact their ability to sell or sales prices for their unit.
- The apathetic who wouldn't vote if a gun were at their head.
Has anyone calculated what this futile election will cost us?
