11/5/2006 4:28:44 PM
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Section 5: OPA Board Subject: OC Today Story Msg# 385367
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Joe: I should not even answer your post. For the last few months all you have done is whine and whine that the opposition should either put up or shut up. Well we have now put up, and yes it is going to cost each and every member of the association money. The sooner the B/O/D starts the new referendum the sooner the blood stops flowing. The ball is in their court. Marty |
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For reference, the above message is a reply to a message where: We have already spent about $200,000. Assume the builder would claim a lost profit on the project of 15%. That's another $450,000. So we are probably on the hook for about $650,000 minimum right now -- plus any materials already ordered, although that could be minimal at this point. To think the builder would "resell" the structure is a giant streetch -- at best. If the project moves into the actual construction phase and assuming at some point Marty's attempt to stop the project is successful, it would be reasonable to predict a potential loss of $1 million to $2 million. The project is over the anticipated cost by $1.5 million. So, if Marty is successful OPA might spend one to two million and end up with nothing. The time for Marty and his group to have taken action should have been BEFORE any contract was signed. He had plenty of time. |
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