Since the beginning of the year, the board at Lisle Place/Naper Place has been actively working towards implementing noticeable changes on the property. These changes include::
Reannexing our property back into the city of Lisle
Changing the name to Courtyards of Lisle
Selling both of the HOA-owned units to generate cash
Implementing limits on the amount of property a single party can own
Requiring third-party verification for annual board elections
Requiring third-party audits of finances every other year
You may have heard discussions on these topics during board meetings and other forums and wondered why it has taken so long to complete them. Both homeowners and the board share the desire to see swift change and improvements on the property. To help everyone understand the process involved in completing these tasks, it is important to grasp the significance of the 75% homeowner vote.
75% Homeowner Approval
According to our property's rules and regulations, certain matters require a 75% homeowner vote for implementation. The listed items above all fall under this category. To provide some perspective, that roughly translates to approximately 210 homeowners voting in favor of an item. To better understand the magnitude of this requirement, let's consider the votes obtained by the current board in the most recent 2022 election. Joseph Peletis, the current Treasurer, received the highest number of votes with 63.57% in weighted votes. This result was achieved through months of campaigning with a team of more than five individuals, yet it fell over 10% short of the 75% threshold. The point being, obtaining 75% of homeowner votes to pass these items is exceedingly challenging.
You might be wondering if you already cast your votes for these matters when you signed up for electronic communications.
Electronic Communications and Business
Earlier this year, you may have signed up for electronic communications and conducting business electronically. The board advocated for this measure to ease the process of conducting the 75% vote in the future. It's important to note that signing up does not equate to casting a vote. It simply indicates your willingness to vote electronically when the time comes. Recognizing the daunting task ahead, we adjusted the rules to enhance the realistic achievement of the 75% mark. However, this change provides only a small boost to our overall effort.
Why can't we just vote already?
You might naturally wonder why we can't just proceed with the voting already. Well, this leads us to the next obstacle. For each item requiring a vote, we need our legal team to prepare the necessary legal documents to ensure proper implementation of the changes. This process takes time, especially given the number of changes we aim to enact. Compounding the issue, our attorneys are currently occupied with addressing numerous legal challenges initiated by the previous board. Speaking of the previous board...
Why was this never an issue in the past?
The concept of a 75% homeowner vote may seem unfamiliar to some because the previous board made decisions on behalf of the homeowners without seeking their approval. The truth is, implementing changes takes time, and this is done to safeguard your interests. These rules ensure that decisions are made in the best interest of homeowners, with the overwhelming support of 75% approval. In contrast, the previous board sought a mere 1.8% homeowner approval, which essentially amounted to the approval of just the five board members. Change can occur swiftly when rules are not followed.
We genuinely appreciate your ongoing patience as we strive to bring about significant and beneficial improvements to the property. It is our pleasure to serve all of you.
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