Annual Meeting-OKW Extension

[DVC92]

In my dealings with DVC concerning the agreed-upon subsidy for non-extenders, I was informed that the 2009 annual budget statement for OKW would include information acknowledging such a subsidy. The statement was silent as to the subsidy. This subsidy has still not been publicly disclosed to OKW members. If a member will be present at the annual meeting, I would appreciate it if a question relating to the subsidy would be asked of Mr. Lewis.

 

[OKW Lover]

I don't recall what subsidy was agreed upon. Can you elaborate?

At any rate, I'd suggest writing directly to DVC for your answer.

 

[Chuck S]

Why would the 2009 budget mention a subsidy? Surely the subsidy for the reserve fund wouldn't kick-in for several years. I really wouldn't expect to see any subsidy until at least 2032. Isn't the reserve fund/scheduled maintenance basically a 10 year cycle?

 

[RobDoc]

OKW owners who declined the extension should not continue to pay into the Capital Reserve fund at some point near 2042 since they will not reap any benefit from that fund after 1/31/2042.

DVC92 contacted DVC about this concern and was assured that there would be a subsidy for those who declined during the last few years and that those owners would be informed of that fact. In this year's budget report no mention was made of the subsidy and DVC92 is just asking someone to ask this question at the Annual Meeting.

I have no doubt that DVC92 will follow up if DVC fails to provide the promised explanation.