Beachwalk Vote

Question 1 Explanation:  As Lots in the new Washington Park Boulevard neighborhood of Beachwalk (Beachwood) are sold, the buyers pay a buy-in fee as agreed to with the Developer and documented in the Governing Documents.  In addition, the new owners pay regular assessments.  The funds from these sales and the regular assessments are being held in a special account and the Board has indicated that it will put any proposed use of the funds to a homeowner vote.  The balance of the account, after sales of five of the fourteen lots, sits at $351,786.97.  Prof. von Maur included plans for a rear entrance as part of Phase II of visioning.  Homeowners have indicated, overwhelmingly, that they would like to see that move to Phase I and happen sooner rather than later.  The Board is confirming by way of this vote that homeowners agree to the use of Washington Park Boulevard funds for this project.  While the cost of the rear entrance is not yet known, it will amount to just a small portion of the funds currently residing in that account, and the Board will, consistent with its fiduciary duties, work to keep those costs reasonable.

Question 2 Explanation:  BPOA has been working with a company who is able to install and operate a fiber optic internet network throughout Beachwalk.  The project would involve running physical fiber optic lines to each and every Lot in Beachwalk.  According to the company's initial projections, the result would be internet that is faster than Comcast service, cheaper than Comcast (a lot cheaper once we pay off a loan we would need to install the network, but cheaper even during the years we are paying off that loan), and more reliable than Comcast.  Monthly internet charges would then be charged to homeowners directly as a special assessment.  In order to give us a firm bid on costs, timing, and expected disruption to Beachwalk and its infrastructure, the company needs to conduct an initial engineering study which would cost $15,000.   This question is soliciting homeowner interest in this project, and whether to incur this initial up front cost that is required in order to have a firm bid to move forward.