Dear Neighbors-
Many of you have already voted in our online poll, and to those of you, we would like to say 'thank you'. As of the time this post was published, about a third of you had raised your voice by voting 'yes' or 'no' on the question of whether or not the GIL Board should be required to get homeowner approval before borrowing up to $400,000 in your name. So far, homeowners have overwhelmingly said 'yes', the Board should seek homeowner approval.
But many of you have not voted yet and we need to hear from you!
The GIL Board is preparing to borrow as much as $400,000 in your name but without any opportunity for input, review or approval by homeowners. And we think that's just plain wrong.
Our By-Laws require homeowner approval for the budget every year - and all but two budgets in the entire history of Glen Iris Lofts were less than $400,000. If the Board spent that money via a special assessment, it would need homeowner approval for a tenth that amount. The Board is exploiting a loophole in our By-Laws that does not restrict the Board's authority to obtain loans to circumvent the implicit requirement found throughout our By-Laws that homeowners should have a say in how much is spent by their Association.
Tell our Board how you feel about being cut out of the process but stuck with all the bills. Vote in our poll on the Main page - just to the right of this article - and SPEAK UP!
The Blog will resume our regular daily posts on matters relevant and important to GIL homeowners, starting tomorrow, Monday, February 13th with a post about Board member accountability that you won't want to miss! Daily posts are generally added first thing in the morning, to accommodate the greatest number of readers' schedules.
the Blog
Note: If you are joining us from a mobile device and would like to vote in the online poll, simply scroll to the bottom of your screen and click the 'View Web Version' link. You will see the poll once the web version Home page loads.
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