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3/4/2014 8:52:14 AM

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Section 5: OPA Board
Subject: COPE Golf Petition? Msg# 879478

From:

Nate Douty

Joined 2/18/2014

To:

Nate Douty (Read)

Joined 2/18/2014

Just a follow up to my post above....think of this on a personal level. Suppose you own a vintage car...between insurance, storage and maintenance, the costs are $2,000 year. You decide that the carrying costs are just too great and decide to sell the asset. Say you get $25,000 for the car. As long as that $25,000 is reinvested into other assets, your net worth stays the same and hopefully increases. If you go and blow it all at the casino, you reduced your annual carrying costs but your net worth just went down by $25,000! My point, assets are assets. If an asset just goes away without being replaced by something of equal or greater overall value, net worth goes down. In the case of the golf course, the community value could go down which ultimately does effect every homeowner. Something to consider.

For reference, the above message is a reply to a message where:
Regarding a homeowners referendum....yes I suppose I could accept that....but only after some legitimate effort to do a comprehensive study of the long term consequences and costs of converting the asset to alternative use. Folks hindsight is always 20/20...on the other hand the future is a long time...And I believe must consider the interests not only of current homeowners but future ones as well. If that open space is not properly maintained the homes surrounding the golf course will surely become less desire able and potentially the entire community as well. I do not own a golf course home, but aesthetically I do appreciate it, and enjoy it, as I said previously it adds a certain character to the community that I believe adds to the overall attractiveness of the community. Decisions such as this are very very consequential....well beyond the presumed immediate favorable impact to the annual assessment.

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