Thursday, March 26, 2020

Marina Lease-Troy Taylor

The link below is to download a copy of the Marina lease between the Riverfront Master Association and Troy Taylor, President of the Master Association and Mint Association


MARINA LEASE- TROY TAYLOR

Note:
1. There is no expiration date. It is an evergreen contract
2. Lease is for $1,200 a year, not month
3. Can only be sublicensed to a Member of the Association, in other words only residents of the Riverfront Condos can use the marina, no outsiders

Riverfront 2nd Amendment--Marina

Please click this link for information regarding the 2nd Amendment to the Riverfront Master directly related to the Marina.



Note:

Page 3
Section 7  4.19.1  Assignment of Exclusive Use.

The Board of Directors shall have the authority to require any licensee to assume responsibility for the electrical meter that pertains to his/her Boatslip...

Page 4
Section 7  4.19.2 Operation of Marina.

[first paragraph]
The number of boats stored at the Marina shall be limited to two for the exclusive use of residential occupants. Transitory, repetitive, daily boat trips to and from the marginal mooring area, such as visitor slips, ...is not authorized

[paragraph (a) ]

The licensee what neither  alter, modify or construct anything on the Boatslip nor store equipment thereon without first receiving written authorization from the Board of Directors.

Facts:
Recent expenditures for January 2020 ($60K) were never approved by the Board of Directors. Services related to said expenditures wee requested by Troy Taylor per staff of service provider.

[paragraph (b) ]

...a Boatslip licensee shall be allowed to sublicense his or her Boatslip license to another member of the Master Association with the approval of the Board of Directors.
...Such Boatslip licensee and sublicensee shall execute a sublicense in form and content approved by the Board of Directors prior to said execution.  

 Facts:
1- the sublicensees are NOT members of the Association

2- the sublicenses were NOT approved by the Board of Directors 
3- Sublicense form and content were NEVER submitted to Board of Directors for approval


Page 6
Section 4.19.3 Use of the Marina.

[paragraph (b) ]

No Vessel may be used as a residence (whether temporarily or permanently) and as such no persons shall be permitted to live aboard, or stay overnight on a vessel.
Facts:
1- Occupants of the vessels have shared with many residents that they are NOT residents of the association and that they do stay overnight in the vessel many occasions. This is witnessed by numerous residents particularly at the Mint Association.






Sunday, December 22, 2019

Over $206K in unexplained budget overages

Before the commence of the Riverfront Master Association (RMA) Board meeting on December 19, 2019, Ivy Unit owners handed out a notice listing over $206k in unexplained overages in the 2020 approved RMA budget (approved by the developer Shahab Karmely, Troy Taylor Mint rep, Maria Elena Negrin Wind rep and voted against by Christine Michaels, the Ivy Rep). There was never a discussion by the board before the budget vote.

President Troy Taylor could not explain the overages and considered the individual line item variances as "granular".

Ivy rep Christine Michaels replied those "granular" variances totaled over $206k.

"No one is against improvements but they need to be reasonable and there needs to be transparency. We also understand the need for some cushioning. But $206K out of $525K increase? " Christine Michaels, Ivy rep

At the encouragement of the RMA attorney, Ivy Association will submit a proposal for consideration of a revised budget.

Saturday, December 21, 2019

It's More Than a $28 Increase

Welcome Unit Owners to our own forum. If you are new to this blog and have heard about maintenance increases, allow us to help clarify.

Recently the Riverfront Master Association (RMA) Board passed a budget (without a board meeting) to increase 36%. How much is that to you? On average it is $28 a unit. That is only an average.

However, your OVERALL HOA maintenance will be higher. The RMA is part of the overall HOA.

Your HOA is comprised of two budgets:Your Condo Association building's budget (either the Wind, Mint or Ivy) and the RMA (essentially the exterior).

For example, if you live in the Ivy, with the recent Ivy maintenance increase of 3%, adding in the RMA increase (4% of the Ivy budget), the total overall increase for the Ivy is 7%.

$28 RMA maint. increase + Condo Assoc. main. increase = $60-$80/month  for a 2BR at IVY.

This is important to understand.

Both the Ivy and Wind had open workshop budget meetings where unit owners can attend so you are part of the process and there is transparency.  Many unit owners do not read the association emails and therefore miss this opportunity.  IT IS VERY IMPORTANT TO READ ALL ASSOCIATION EMAILS to keep tabs of your investment and participate.

RMA manager Allan Yepez sent emails to RMA board members for an open budget workshop. It was scheduled for Oct 31 and then supposedly cancelled "due to inability to get a quorum". Other attempts were made and were unsuccessful.  Therefore RMA manager Allan Yepez  constructed the budget. Only the Ivy rep kept asking for any budget meeting to discuss it before voting.

We hope to see more unit owners at all association meetings.


Friday, December 20, 2019

What Happened at the Riverfront Meeting Dec 19?

The Riverfront Board held a meeting on Thursday, Dec 19, 2019 at 1pm

In attendance were:
President, Troy Taylor (Mint rep)
VP, Shahab Karmely (developer of 3 lots)
Board Member, Christine Michaels (Ivy rep)

Not in attendance:
Board Member, Maria Elena Negrin (Wind rep)

Also in attendance was Gary Mars, Attorney for the Riverfront Master
Vincent Flor, Attorney for the Ivy Association

Property Manager Allan Yepez opened the meeting and read the minutes for the last 3 board meetings
August, September and November 26, 2019.

Troy Taylor began with an introduction of the areas covered by the master and those who serve the Association. The Board of Directors is a volunteer non paid position. He also shared there are others involved including an Architectural Review Board that "serves at the pleasure of the developer". When asked who serves on the board Taylor answered that he and the developer Shahab Karmely and an outside architect.

BUDGET

Troy Taylor stated the 2020 Budget was passed with various meetings with board members.  Ivy Rep Christine Michaels added there was never a single board meeting to discuss the budget from the time it was issued to the time it was passed.

Much of the discussion focused on the budget and the budget process.
The Board recognized unit owners to answer their questions.
Ivy rep Christine Michaels summarized concerns for the Ivy membership in referencing a handout that was distributed, listing over $200K in unexplained overages and allowances.

Troy Taylor indicated he was not familiar with the precise numbers in the budget and that anyone should consult with property manager Allan Yepez. Shahab Karmely further added he would welcome a proposal from unit owners. Christine Michaels added that the Ivy Association had followed both courses of action. They had consulted with Allan Yepez in an open meeting with Ivy Board and unit owners November 12. They had a proposal. For questions that Allan could not answer they were directed to ask Troy Taylor and the Riverfront Board.  Christine reminded fellow board members a board meeting was requested more than once to ask further questions.  The budget was passed November 26 without a discussion.

Gary Mars, attorney for the Riverfront Board stated he had advised the board the budget process could have been better.

MOTION FOR APPOINTMENT OF BUDGET COMMITTEE AND REQUIRED PROCEDURES


Ivy rep Christine Michaels made a motion detailing the creation of a budget committee and various steps for requiring competitive bidding and a deadline for such bidding; a budget workshop, a fixed percentage cap on overages; to allow each board director to address the board at budget meeting before a vote to approve and disapprove the budget.

Attorney Gary Mars stated that the motion was not appropriate for this meeting and agenda.


CONCLUSION, NEXT STEPS

The meeting concluded with the recommendation that the  Ivy rep and unit owners would meet for a second time with Allan Yepez and submit a proposal to the Riverfront Board to consider adjustments to the budget.

Time did not permit to discuss other agenda items- homeless situation, security, marina, children's park update.

The meeting was scheduled from 1pm-3pm but as Shahab Karmely had to leave early, the meeting concluded at around 2:20pm.




Tuesday, December 17, 2019

Response to Misleading Riverfront Letter Dec 17, 2019

Dear Fellow Unit Owners,
The following email was sent via email blast today from Allan Yepez,  manager Riverfront Master Association (RMA) Property Association  to all unit owners/renters. Sadly this letter excluded other pertinent details.

Here is our enlightened owners group response:

[email from RMA manager]
"It has come to the attention of the Master Association...that there is a group of individuals that are perpetuating misleading and inaccurate information with regards to the operation..."

All the information shared on this website is 100% accurate. More background information:

  1. In early discussions, the Riverfront Manager mentioned to the Ivy manager the increase would be 28%.
  2. After the Riverfront President Troy Taylor reviewed and finalized it, budget went up to 36% 

[continuation of Riverfront email]
"After multiple individual and group meetings with Condo Associations, homeowners, and Board members..the Master Association passed the budget"   This is very misleading.

The Facts are the following:
For the entire month Oct 26 (budget was issued) - Nov 26 (budget was passed)

  • The Riverfront Board members NEVER met individually
  • The Riverfront Board members NEVER met with their respective Condo Associations before the budget except for the Ivy Rep
  • The Riverfront Board members NEVER met as a board to discuss the budget

After much insistence from the Ivy Association to meet with Riverfront Board, the Riverfront President Troy Taylor sent Allan Yepez the manager to speak to Ivy association. As well documented in our post of December 14 2019, Allan could not answer many questions.

Riverfront Manager kept directing individuals to 
 "Ask Troy Taylor" 
"Ask the Riverfront Board"



Ivy Board and Ivy Rep requested a meeting with Troy Taylor and with the Riverfront Board.  
This was repeatedly ignored or refused.


Mint and Wind reps NEVER shared the breakdown of the budget with their owners before the budget.

[email continuation]
"Every project in the budget was reviewed and approved unanimously by 100% of the Master Association Board..." Very misleading again.

What the email also doesn't tell you is that voting on ONE issue (that of security with the largest increase) happened 3 MONTHS prior to the budget. While the Ivy rep voted on the 3 part security package back in August, she wanted to revisit these items for the budget and never had that opportunity.

There are many items in the budget.  Many budget items had no financial backing, projects with no bids, and significant "allowances" or padding.  All of this collectively raised red flags.

Significant Padding
Example:  If Item X has a hard cost of $1000 with known anticipated raise of 5%, why add additional 20%  padding on top of it?

This is throughout the budget and unnecessary.  This is not a slush fund. This is the budget of the Riverfront Association representing 1,500 unit owners.

Again the Issue is about Transparency & Ethical Practices
The issue is not about the amount of $28. The issue is about the process-transparency and ethical practices. Had Board members met to discuss the budget they would have gained resident feedback about one of the security features which they do not WANT and options to pass a lower maintenance. But the Ivy rep was repeatedly told  by Riverfront Manager "Troy would not go for that".


Board members must respect the process of fiduciary responsibility and recognize they are serving to represent their fellow unit owners and not their self interests. Example: The budget had an 80% increase in the water.  Owners connected the dots and soon learned that WE ARE PAYING the water and electricity for the yachts.  Who is assigned the slips?? Troy Taylor and Shahab Karmely --The Riverfront President and Developer.  Only because the Ivy Board caught this glaring increase, the Riverfront Master suddenly ordered a meter.

Board members must respect those members who have the right to ask questions, seek feedback and propose other solutions. In undermining this fiduciary process, Board members are ultimately working against the goals of the Association.

Remember it is $28 average + your HOA.  
So a 2 bedroom will end up paying approximately $60-$80 more.
We believe it could be much less. 

Would unit owners want a questionable $28-$60+ increase every year? Most likely not. This is why we are bringing this issue to your attention.  Rogue Board of Directors will continue until they are stopped.

Do not be mislead that the budget will be lowered next year. Do not buy into "pie in the sky" promises.  Had the Ivy Board and Ivy rep not alerted owners, this could have continued the following year.

THERE WAS ZERO DISCUSSION AMONG THE BOARD ABOUT ANY BUDGET ITEM 
from the time it was issued to the time it was voted upon.



PLEASE GET YOUR COPY OF THE COMPLETE BREAKDOWN IN THE BUDGET

For any owner that would like a complete breakdown of the budget please email OwnersRiverfrontCondos@gmail.com













Monday, December 16, 2019

Riverfront Meeting Date Changed from Dec 17 to Dec 19


*** PLEASE ATTEND ***

Notice was issued today that the Riverfront Board Meeting scheduled for Dec 17 at 1pm is rescheduled for Thursday Dec 19 at 1pm. Same location the Ivy Media Room on the 10th floor.

We know many owners are upset for two reasons:

  1. The majority board (Mint rep, Wind rep and Developer) refuses to hold a meeting in the evening when more unit owners are available
  2. This change comes at the heels of the holidays when many owners are leaving and can not attend


Several unit owners have emailed the Riverfront Master Manager, Allan Yepez with their discontent.
Keep sharing your concerns/complaints to the manager by emailing him manager@riverfrontmaster.com

And ask him to share it with the board so the board is aware of the growing concerns.

Why this is important: It's about the 35% Maintenance Increase!!

On Nov 26 The Board of Directors for the Riverfront Master Association passed a budget with increases in maintenance of approximately 35% without any board discussion. Unit owners are against this and taking steps to address this serious problem and remedy it or prevent it from happening again. CLICK HERE to learn more.

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