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Can LWV afford GRF’s Extravagant Lifestyle? April 17, 2014 Residents Voice

Can LWV afford GRF’s Extravagant Lifestyle? April 17, 2014 Residents Voice. Pamela Grundke. Origins. Leisure World’s Beginnings A Moderate Income Home Owners Association, retirement community. ( GRF , United, Third, Towers) Sole Discretion Trust ( Ie . Construction Contract).

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Can LWV afford GRF’s Extravagant Lifestyle? April 17, 2014 Residents Voice

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  1. Can LWV afford GRF’sExtravagant Lifestyle?April 17, 2014 Residents Voice Pamela Grundke Residents Voice

  2. Origins • Leisure World’s Beginnings • A Moderate Income Home Owners Association, retirement community. • (GRF, United, Third, Towers) • Sole Discretion Trust (Ie. Construction Contract). • Objective was the building of the amenities. • Amenities eventually funded by housing mutuals. Residents Voice

  3. Evolution • On Jan 9, 2014, GRF By-Law 2.1.6 was changed by a majority of Corporate Members to read as follows:“2.1.6 GRF shall obtain a majority vote from the corporate members (as defined in paragraph 2.4.10) prior to engaging in any business or activity specified in paragraph 2.1.4 .The vote shall be by ballot pursuant to paragraph 5.8.2.” Residents Voice

  4. Evolution (cont.) • This would prevent GRF from building a new building or demolishing an existing building without the approval of the Corporate Members. • GRF refused to acknowledge or agree to this By-law change by continuing with their plans to demolish CH 2 and replace it with a new Main Lounge. Residents Voice

  5. Today Residents Voice

  6. Today Cont) Residents Voice

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