Club Business

As per Management's request to submit questions to Management via Shelle,,

the following Member Questions were submitted [BOD and Marketing. CFO, Doug Egly and Ferrytalk.com]

1. Do you plan to take questions from the internet callers at the next meeting??

2, If you cannot answer all called-in questions, as well as questions submitted via Shelle, on 01/11/2023, will you agree to have another open session for Members?

3. Were any other Nationally known Branded golf course developers/architects

asked to bid on our Golf course repairs ???? Examples: Jack Nicklaus' Golden Bear Group, Pete Dye, Tom Fazio, Greg Norman Bobby Seed, or Gary Player??????

4. Architect fees listed for Reese Jones listed totalled $450,000. Has the Club already paid this, or does the Club Owe this amount for work already commissioned?

5. Are the $450,000 architect fees included or in addition to his 10% fee of the total job cost??

6. Members would like to see a proposal which will allow future Members to pay for part of the Capital Costs. One obvious way is to have the Club pay for the project, and members then maybe have a smaller initial assessment, then amortize the balance over 7 years. BUT the Club has no credit, and all assets are already pledged. Why not become stronger as a Club by waiting a couple years, paying off some debt, patching the most urgent needs, and then with reserves and with strength, negotiate a Club loan to refurbish the Golf courses and finish roadwork as we strengthen our reserves and improve Club/Assn credit in the meantime? That is impossible at this time. Even though it would cost more such a proposed course of action may still allow annual Member dues to fund new less costly new amenities along the way..

7. A 10 day notice to vote on a massive assessment program and a 30 day deadline- does not allow Members enough time to digest and ask Questions. Why is Management unwilling to give reasonable time for the Membership to become comfortable with the proposal, and for the new BOD to have input to Member concerns???

8. One reason Doug Egly indicated urgency is that 'Vendors would put our Club at the back end of their schedules.' Did Management schedule vendors before this vote ever came up and without Member approval?? Are we "hostage to Vendors" to make a multi-million dollar commitment and decision?

9. Our CEO, is a very enthusiastic supporter of the proposed Capital Assessment plan. Will Mr. Egly pay the full assessment as a property owner for each property he owns???

10. How will future unanticipated major expenses be funded if Members put so many eggs into this basket of proposed Capital Assessment, if we have no significant reserves at this time?? Reactive assessments??

Thank you.

Mark Ettinger

cc: ferry talk.com