Reminder for Annual Budget Owners Meeting- Wednesday, April 26 at 5pm
Meeting Link – Jordan HOA Annual Owners Budget Meeting
The main purpose of the Annual Owners Budget meeting is to ratify the budget for the upcoming fiscal year which begins May 1,2023. Budget ratification is determined by a majority approval vote of Owners in attendance on the virtual meeting. The vote count is one Owner per one deeded unit. If you own multiple units, you have one vote for each deeded unit you own.
In addition to presenting the budget, we will also be sharing many details and information about the renovation plans we have been working on for the last three years. We will have details about funding, timing and owner approval process for Phase I of the renovation. This phase includes the lobbies, ground floor hallway and Crown Club owner’s lounge.
If you cannot attend the meeting, the presentation and information about the renovation will be emailed to you and posted on the owners’ website (www.jordanowners.net). We will also be scheduling multiple virtual sessions (6) for Owners to ask any questions, learn more details about the renovation and how to vote. You will receive emails, postcards, regular mail, and posts on the Jordan Owners Website Renovation section about these dates and the progress/timeline report of the renovation. Please make sure your contact information is up to date with Owner Services!
The funding of Phase I, as determined by the Board, would be a loan payments appropriated into our yearly budget. We have looked into a bank financing proposal, which would essentially be a loan for a 10-year term. This would lessen the need/impact of any special assessment or large dues increase for this phase of the entire renovation plan.
In addition to ratifying the 2023/2024 budget, the next important step in realizing the promise of an exciting and long-awaited renovation of the Jordan is to gain approval from the majority of all owners to fund this phase of the project with a loan. We must gain a 50% + 1 majority approval of you, ALL OWNERS. The magic number is 273 unit Owners voting YES. This vote will take place in a virtual meeting and by proxy of votes received over a period of a few weeks leading up to the meeting date in mid to late May. Stay tuned for details!
Owners are drawn to the Jordan for its picturesque location and memories we make at the hotel. Over the past three years, your HOA Executive Board has worked to lay the foundation of a renovation project that will elevate the interior of the Jordan to match its breathtaking location from the minute our owners walk through the door. It’s time for you to take action! You and the friends you have made over the many years or the short time you have been an Owner can show your support by voting in APPROVAL for the great future of the Jordan.
Many thanks from us Board members for your trust and support towards achieving this Jordan rebirth and transformation at our doorstep!
On Behalf of the Jordan HOA Executive Board