IMPORTANT UPDATE on Riverfront Maintenance Increase

If you are a unit owner, PLEASE READ.
If you are a renter, please share this urgent message with your landlord as this may impact your rent.
If you are owner or renter, PLEASE SHARE THIS with all other owners and renters you know in the 3 buildings.

This is a unit owners group effort.  PLEASE SPREAD THE WORD WITH ANYONE IN YOUR BUILDING, IN YOUR WALKS, etc...  It's time to take action and protect our investment and our home.

TO ALL UNIT OWNERS of the Ivy, Wind, and Mint.

The Riverfront Master Association recently passed a 36.2% increase on the Riverfront Maintenance, which is part of our overall HOA.  The many owners who came to learn of the increase and inquired were unsettled with what they learned.  The board of directors passed the budget without a board discussion so other directors did  not have opportunity to offer input or share other solutions or make a motion for changes.   This raised a red flag.  Please continue reading to learn the chain of events to date.

HIGHLIGHTS

• Budget was created by manager Allan Yepez and finalized by President Troy Taylor

• Oct 26 2019 Budget was emailed to Riverfront Board of Directors

• Ivy Rep emailed the manager and board asking for a board meeting to discuss the budget; Other board members never responded; Ivy rep requested meeting 5 times

• Notice was given for Board meeting Nov 26 with agenda to "discuss" and vote on 2020 budget.

• Nov 26, 2019, The developer Shahab Karmely phoned in and announced he forgot he had other meeting. No time for discussion. A motion was made by the President to pass the budget. Shahab the developer seconded it. Maria Elena the WIND rep voted in favor. Only the Ivy rep voted AGAINST it. 

The Riverfront Board passed a 36.2% increase with 
ZERO discussion within the board of directors. 

Therefore there was ZERO input from unit owners.

What does this mean for you? It's more than a $28 increase.
Please read on. 

QUESTIONS?? Please Contact OwnersRiverfrontCondos@gmail.com

Riverfront Master Board of Directors--exterior of the building

Mint Rep     Troy Taylor
(Pres of the Mint Assoc, Pres of the Master) = 1 vote

Developer   Shahab Karmely
(KAR Properties) VP of the Master = 3 votes (3 lots)

Wind Rep    Maria Elena Negrin
(Pres of the Wind Assoc) = 1 vote

Ivy Rep       Christine Michaels
(not on any other board) = 1 vote

Below is the detailed 

TIMELINE OF EVENTS

October 29, 2019, Riverfront Master manager Allan Yepez sent the Riverfront proposed 2020 budget to Master of Directors and each building's property manager. (Note: the Riverfront Master pertains to the exterior of the building, ie. security, the common areas, such as the dog park etc. The Riverfront maintenance is part of your overall HOA maintenance). 

The Riverfront maintenance increase is 36% for all 3 buildings (average $28/unit)  which means when you add on your condo maintenance fee, the total increase would range from  $40-$80 per unit per month depending on the size of your unit. 

$28 avg RMA maint. increase + Condo Assoc Maint. Increase = TOTAL HOA ($40-$80)

(Note: we believe the $28 could be much lower and still maintain security levels)

The Ivy held a meeting with board members, Ivy rep to the Master and Ivy unit owners were concerned about the large increase.  The Ivy rep understood some increases which she did vote for but was unclear and unsure about other budget items. Examples:

• 56% increase in utilities; 80% increase in water????
• 10-20% overages on many budget items with no financial backup totaling $40k
• Additional "allowance" for numerous budget items with hard costs ranging from hundreds to thousands of dollars 
• $50k in "Undefined Special Projects"
• OVER $200K in unexplained overages

On November 12, the Ivy Association held a meeting to better understand the Master budget. Master manager Allan Yepez attended and answered questions to the best of his ability. Many questions remained unanswered. Allan directed those unanswered questions to the President Troy Taylor (who finalized the budget) and to the Master Board.  Christine Michaels, the Ivy rep who is on the Master Board, could not answer them and was seeking answers as well.  Everyone present in the room agreed the increase could possibly be half of what was proposed for the Riverfront.  Therefore a board meeting was needed for the unit owners to ask questions or have their questions presented by their representative. 

After 5 requests over 4 weeks (documented on emails), the Ivy rep requested a board meeting to discuss different issues as it related to the budget and the budget itself in detail. All other board members refused. 

RIVERFRONT BOARD MEETING TO VOTE ON MASTER BUDGET

On November 26, 2019, the Riverfront Master Association held a meeting at 1pm to "discuss" and vote on the budget as was indicated on the agenda.  No other items could be discussed.  

Three board members phoned in

1. Troy Taylor Mint rep

2. Maria Elena Negrin Wind rep 

3. Shahab Karmely (the developer)

Physically present were:

1. Allan Yepez, Riverfront manager

2. Christine Michaels, Ivy Rep

Also present were a room full of unit owners primarily from the Ivy.

NOV 26, 2019 MEETING

Shahab Karmely the developer phoned in and stated that he forgot he had another meeting (note: he has a dedicated secretary who keeps his schedule) and so they would have to vote on the budget so he could go. As witnessed by many unit owners, the Ivy Rep spoke up and explained the board has never met to discuss the budget and there needed to be a discussion as there were questions and a room full of unit owners. President Troy Taylor immediately interjected and made a motion to pass the budget.  The Ivy rep insisted on a discussion. Shouting from Shahab and Troy was directed to the Ivy rep stating that a motion was made and that a vote was required.  Wind rep Maria Elena Negrin said nothing but voted in favor of the budget. Ivy rep Christine Michaels voted AGAINST the proposed Master 2020 budget.  In less than 2 minutes the budget was passed with NO discussion. 

RIVERFRONT MASTER MANAGER & IVY REP ANSWER QUESTIONS
The Riverfront Manager and Ivy rep stayed for an hour after the meeting to answer unit owner questions to the best of their ability. Other questions remained unanswered given there was no board meeting to discuss. One of the unanimous requests from unit owners in attendance was:

Unit Owners requested that the Riverfront Master start to hold meetings in the evening so unit owners could attend. 

CAN THE BUDGET STILL BE CHANGED OR AMENDED?

The Ivy rep consulted with legal counsel if the budget could still be changed or amended. The answer was  YES. Legal counsel agreed that the budget should be "discussed vigorously among board members". 

Since this communication, the Ivy rep has sent various emails to fellow board members once again requesting a board meeting for a "healthy discussion" on various issues and that the meeting be held in the evening.

Requesting:

• Review of 2020 Budget and proposed changes
• Homeless situation
• Security
• Marina
• Other Common Areas
• Discussion with Unit Owners

MAJORITY OF RIVERFRONT BOARD REFUSE TO HOLD MEETINGS IN EVENING
Board President Troy Taylor (from the Mint) offered times in the daytime only.
And a slew of email exchanges occurred arguing over the time of day. Troy Taylor offered only daytime.  Christine Michaels insisted on 3 occasions for an evening meeting based on Unit Owners' expressed desire to participate.

On December 10, the Riverfront Master manager also sent a final email requesting an evening meeting. Only the Ivy rep Christine Michaels responded and agreed.

• Other Board members ignored all emails from the Ivy rep and the Property Manager
• The Riverfront Master has never held a meeting in the evening.

NEXT BOARD MEETING

As of Dec 11, Riverfront Board received email that the next board meeting will take place Dec 17 at 1pm in the Ivy Media Room, 10th floor.

The Final agenda is not what was requested.  Per emails, other Board members do NOT want to revisit the budget and will only discuss new projects related to the budget.

Final Agenda:

 NEW BUSINESS

• 2020 Budget
• Homeless
• Security
• Marina
• Children's Playground

UNIT OWNERS FROM ALL 3 buildings are strongly encouraged to attend.

WHAT WILL HAPPEN AT DEC 17 MEETING? 
Update as of Dec 16 meeting changed to Dec 19, 1pm; Ivy Media Room
The Developer and Troy Taylor will give elaborate speeches of  "a vision" from 3 years ago. Something that has not been discussed in any length this year. This is why the Ivy rep requested  an end of the year board meeting in the evening to discuss many issues with the owners, where owners themselves could ask questions. 

Please be sure to share your email with group administrators ownersriverfrontcondos@gmail.com  To ensure you are a unit owner, and not one of the board members, you will be asked to send in a form of ID. We hope you understand.

This is our home and our investment.  Board members are volunteers and we thank them for volunteering their time and skills. But they also represent all of us, not their self interests. There needs to be transparency.

Unit owners are encouraged to attend meetings whenever possible. Ultimately it is our responsibility to oversee our investment. 

QUESTIONS???
Any questions or to obtain a breakdown of the 2020 Riverfront Budget

Please contact  OwnersRiverfrontCondos@gmail.com 

Questions/concerns may also be sent to the Riverfront Master, 

Allan Yepez  manager@riverfrontmaster.com


CHECK THIS WEBSITE DAILY
As we do not have all unit owner's email,
we ask that you check this website daily.