ROYDEN HOA FACING CONSTRUCTIVE FRAUD CLAIM WITH 2017 ANNUAL ASSESSMENT
Dear Royden Neighbors and blog readers…..As you have probably already determined, the photo in our last post, of the redesigned front entrance, was FAKE NEWS…
YES,The proposal was actually made, to the Royden Board, by the then President, Richard A. Rinaldi, back in the year 2003….and was turned down because of cost!!!!!
The subsequent board, led by Ms. Bunny Hodas, in 2004, then tried to repaint the front walls and begot the $300,000.00 in legal fees (With Dr. Owensby’s and Ms. Gressette’s help in 2005-2010)
Why is that fiasco relevant today. Here’s why!….
Royden lost the suit, had to pay damages and signed a new, more restrictive easement agreement with a, now enraged, adversarial easement holder !!!
Royden residents are still suffering from this fiasco….not only in the loss of dollars,…….but in the loss of the ability to upgrade the front entrances!!!!!!
The easement holders are still upset, for having had to spend $90,000.00, to defend their property rights, from the HOA attack, that basically tried to steal their property.
So upset that they will never approve ANY changes to the entrance.
Remember our “ORBS MATTER” newsletter article. The easement holders wouldn’t even allow an Orb to be placed on the wall..
.Check it out for yourself sometime……Thus…ROYDEN IS STUCK WITH STUCCO!!!!!
Why does STUCK WITH STUCCO hurt Royden Property values as can be seen in the attached Royden Sales Comps article, by a local high end Realtor????
The attached schedule compares Royden Sale/square footage, to other prestige neighborhoods. Royden is struggling at $170-$180/square foot in valuation.
Other prestige neighborhoods are above &200 and $220/heated living area.
Imagine what rebranding with an upscale front entrance could do for our valuation…
Are we just an extension of Montibello???? Our Stucco entrances suggest we are!!!!!!
HOWEVER……HOPE IS ON THE WAY…….REDESIGN CAN BECOME A REALITY….HERE’S HOW!..
ON MAY 16, 2017 the Royden Board AGAIN violated Article IV-Covenant for Maintenance Assessments by abandoning the Ballot Vote process….why???
JUST TAKE TIME AND CONSIDER ASKING THE ROYDEN BOARD THIS SIMPLE QUESTION?????
IF MEMBERS HAVE VOTED ON A MAINTENANCE BUDGET AND ANNUAL ASSESSMENT VALUE, FOR OVER 10 YEARS, WHY WAS NO VOTE TAKEN FOR 2017-2018???
While you are considering this question, here are some more suspicious back dealings by the Board:
• Why has the Board Not provided a pro-forma financial report on May 1, 2017, reporting the status of the Fiscal Reserves and the mandatory 10% Contingency Reserve member Credit projected for May 31, 2017. Per Article IV, the 10% Contingency Reserve must be “EQUAL TO” 10% of the operating budget, or less than $3,000.00.
• The current Fiscal reserve is well over $20,000.00, thus requiring a member credit of over $123.00…YES…A CREDIT is DUE for 2017-2018!!!!!
• Why has the board not provided a 2017-2018 operating budget for the “front entrances maintenance only”.(as provided in the past 10 years??)
• Have Not fixed the Annual Assessment on May 1, 2017 as required.
• Have not provided for an orderly nomination process for the 4-5 open Royden Board of Directors.
• With 4-5 seats open as of May 31, 2017, the Royden Board will not have a quorum to execute any Royden affairs after May 31, 2017. Essentially, a Board in CHAOS!
• Have not provided for an Annual Meeting to meet the new Directors and see a presentation of their plans for 2017-2018.
• Have not reported the issues related to the Royden Sanctions legal action filed against Rinaldi and Receipt of $6,330.000 to pay for D&O Insurance Carrier Legal fees.
• Have not posted any Royden Board Minutes for 2017-2018….Talk about lack of transparency and the “dark state”.!!!!
HOPE ABOUNDS………Here’s WHY!….ASSOCIATIONBUSTERS.COM IS WORKING FOR YOU!
We await the full disclosure of the current Royden Boards 2017-2018 Annual Assessment process and new board nominations in the weeks to come and the ANNUAL MEETING to be announced:!!!!!!.
Obvious Questions remain?????Already you have seen that the historical Annual Assessment member voting Ballot has been discarded…..WHY???
Use of Email notification has been discarded, in favor of invoicing…Why?
Nominations for the addition of 4-5 NEW BOARD MEMBERS has not been commenced. WHY???
NOTE: This latter dereliction of duty means that a quorum to hold any Board meetings does not exist after May 31, 2017, when all retiring Board members’ terms end!!!
Where are the Financial Reports on a Pro forma basis identifying the 10% Fiscal Reserve member credit?
When is the Annual Meeting????? Who will Chair it????? (only one board member still in office???)
What is happening is that the Royden Board has been finally forced (by our newsletter, blog and lawsuits) to recognize that the Article IV-Covenant for Maintenance Assessments, is the controlling Covenant for Annual Assessments. FULL STOP!
A fact that the Board will not admit, and cannot admit, since it spent 3 years fighting against Rinaldi in court…and Filed a legal action against him for $6.330.00…Without member notification!!!!!
Imagine the hypocrisy!!!! The Royden Board allowed attorneys to have Rinaldi’s legal claim dismissed, without a trial…and then filed a sanction action against him for filing the claim again!!!!! All along knowing that Rinaldi’s claim was based on the incorrect Annual Assessment process in violation of Article IV…….Faced with perpetuating a LIE!!!! The Board is trying to “back door” a more legal Annual Assessment process
Article IV-Covenant for Maintenance Assessments is the LAW for Royden Members and is controlling…..NOT, the BYLAWS, as Nance incorrectly stated in his MAy 16, 2017 Letter!(Mine has his mailing address??) He stated that the Annual Assessment was “per the By-Laws”….WRONG!!!!
Nance is using REVISED BYLAWS that, by the way, are irrelevant as they were constructed to be implemented with the Revised Covenants…That were rejected by a 2/3 Phase vote!!!.
Yes, the BYLAWS are NULL and VOID…Just read Article II-Definitions….All definitions refer to the CCR’s as of May 15, 2012…..OOOPS….Those CCR’S were turned down!!!!!…Sloppy Administration is killing this group of stumbling volunteers. Just as with Pleunes clumsy attempt to AMEND the documents!!!! Without ever naming the covenants….He’s a lawyer, no less!!!!!
Can’t get the ByLaws straight and can’t get the Covenant Amendments Straight, can’t get the Annual Assessment Process straight….AND…..Can”t defend their actions in a court of law!!!!!.
Oh yes….And don’t forget the cash shortfall scandal, cover-up and corruption!!!!!! There’s more….AND NO ANNUAL FINANCIAL REPORTS WITH CASH FLOWS AND CLOSING BALANCE RECONCILIATION!!!!
BTW…WHO WOULD BE CRAZY ENOUGH TO SERVE ON THE ROYDEN BOARD!!!!!!
BUT WAIT!…Hope is on the Way….Let’s see how this all plays out!….Remember this fact!
…..Members have the option to file a…….Breach of Fiduciary Duty-Constructive Fraud Director’s and Officer’s Legal action????????Against current and past Director’s who knowingly, with attorney complicity, violated the Royden Article IV-Covenant for Maintenance Assessments.
Jon Nance, Ben Pleune and the Royden Attorneys, may be confirming this multi-year breach, with the “NEW” Annual Assessment Process they are rolling out, as we speak…STAY TUNED!!!!!
See our blog associationbusters.com. To understand how this blog is working for Royden homeowners,,,,,,,Just google….. Royden and a board members name!!!!…..
Talk about “dirty laundry”…..It’s all out there for everyone to see!!!!! Soon to be on Facebook too!!!!
Finally some accountability!!!! (When will the members speak out???)
“Our elected officials may be able to lie to us, buT we’ll be damned if we let our neighbors lie to us”
The Vexatious Litigant