The Budget Meeting that Never Happened 11-30-21

 Owners at Riverfront Master Association continue to face repeated obstacles in order to gain clarity on projects and special projects that impact the budget.  

Below is the YouTube video of an attempt to hold a Budget meeting on November 30, 2021.

Ivy representative asked multiple times (prior to the budget meeting) via email to hold either a board meeting or informational meeting so owners are fully informed of projects and line items. Requests were denied to hold either and that FSR could not participate in hosting an informational meeting.

Riverfront Board Meeting Conduct Continues to Deteriorate

 

On April 22 at 3pm Riverfront Board Meeting took place to discuss:

To see the video please CLICK HERE

1. The adoption and appointment of a Litigation Committee requested by Troy Taylor

2. Architecture/Beautification Committee proposed by Christine Michaels

3. Budget/Finance Committee proposed by Christine Michaels.

At the onset of the meeting Christine mentioned that the owners were not properly notified. Mint manager never sent the email notification. The Riverfront Master manager Rolando Cerit (FSR) could have sent email blast as prior manager had done in the past.  Eddie Valdes indicated the Manager fulfilled the minimum requirements.

Minutes of Meeting to approve for July 16, 2020 were missing.

Minutes of Meeting to approve for December 10, 2021 were incomplete.

Troy Taylor and Shahab Karmely appointed themselves for new Litigation Committee to oversee the pending lawsuit where Troy Taylor and Shahab Karmely are the defendants. All owners that were permitted to speak raised concerns that while this may or may not be legal, it certainly was not ethical and opposed such appointment.  Other owners volunteered for the committee. Their offer to volunteer was not considered.

Christine Michaels and Maria Elena Negrin voted against the appointment of Arie Tenzer, Troy Taylor and Shahab Karmely to the Litigation Committee.

Meeting again ended abruptly after outbursts from Troy Taylor and Shahab Karmely. 

Board never discussed possibility of other committees for more owner participation.

Troy Taylor Resumes Marina Scheme

Yachts have now reappeared at the private boat dock for the Riverfront condos. Do they belong to Riverfront owners? NO.

Per the Riverfront Master Association agreement with State of Florida, Miami Dade County and other government entities, the private docks are meant only for Riverfront residents.

Owners learned on February 25 and 26, that the owner of the Tatami yacht parked at our private docking was not an owner or resident at the Riverfront Association (proof obtained with two recordings) and renting the marina slip. Where's the money going? We know it's not going back to the association.

Per the Restrictive Covenant with Miami Dade County, SIGNED BY TROY TAYLOR, President of the Riverfront Master Association, May 2018:

7. The owner agrees and covenants that commercial powerboats at prohibited at the Property and that the powerboats allowed at the property shall be (a) registered with the State of Florida to the owner of the property, or (b) registered with the State of Florida to a resident of the property who resides at the property. Any powerboat which does not comply with the above shall not be allowed at the property. 

"We paid $300k to build out that marina, yet we can not even use it!" residents exclaim in unison.  "Troy Taylor is renting our marina slip to outsiders for thousands of dollars. Who's pocketing that money? It's definitely not the association". 

"I have a boat. I was waiting for announcement on a fair process,  like an auction to see if I can get one of the two boat slips. That was three years ago. It never happened. Owners were never advised. We just learned one day they were assigned by the President of the Board and Developer to themselves." says another owner.

And the President of the Master and developer Shahab Karmely who are on the Master board have a lease for the marina WITH NO EXPIRATION DATE. An evergreen contract.  

The Reflections yacht which appeared earlier in the month, is listed for rent for $8,500 a night. 

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Lawsuit charges Shahab Karmely and Troy Taylor for Breach of Fiduciary Duty

 On July 11, 2020, the Ivy Condo as part of the Riverfront Condos, filed a lawsuit vs.

1. The Riverfront Master Association (managed by FSR, property manager Allan Yepez and Ivonne Herrera), 
2. Shahab Karmely 
3. SK Miami River, LLC
4. Troy Taylor
5. City Centre Yachts, LLC 

In summary charges against Troy Taylor and Shahab Karmely include:

1. Engaging in self dealing
2. Violating terms and provisions of the Master Convenant...deriving a profit 
3. Unjustly deriving revenue/profits from the rental of Marina slips
4. Engaging in various acts of self-dealing and other fraudulent conduct

The lawsuit does not charge Maria Elena Negrin or First Service Residential for now. 

Developer Shahab Karmely verbally attacks female board member

 

In a zoom board meeting of July 16, 2020, developer Shahab Karmely of SK Properties, attacks female board member C Michaels calling her "disturbed" and having "mental health issues".  Fast forward to 42:30.

This was the third meeting within a year where the developer commandeered the meeting demanding that property manager Allan Yepez of FSR, end the meeting, thereby not permitting owners to ask questions. 

Click here to view the YouTube Video

Legal Demand letter to Riverfront Master Association regarding Marina

To all owners of the Riverfront Condos of Miami, by clicking this link you can obtain a copy of the Demand letter by the Ivy Association addressed to the Riverfront Master Association regarding breach of contract and fiduciary duty by the following individuals:

Shahab Karmely, developer of KAR properties
Troy Taylor, President of the Master Association and the Mint Association
Maria Elena Negrin, Board member of the Master Association  & President of the Wind Association
Allan Yepez, Manager of the Riverfront Master Association and employee of First Service Residential

The letter was sent March 19, 2020.

Response was not received until May 31, 2020. This is against Florida statutes which require a response within 30 days. 


Our community is run by individuals who are in clear violation of our governing documents and have no regard for bylaws. Ironically the amendments regarding the marina were drafted with the input and blessing of Mr. Karmely and Mr. Taylor.

Our community is in need of change.  

Pursuing the legal route is one option but not the only option.

Owners will not tolerate this blatant abuse of power by these 4 individuals using our investment monies to serve their self interests. Owners are fighting back!

It is time for new leadership!

The Mint elections are May 28, 2020.  Mint owners, please visit www.facebook.com/mintowners/ for important election information.

The Wind elections are in December 2020.

Alarming Discoveries at Mint and Master Associations

Dear Riverfront Unit Owner,  [For SPANISH translation version click here]

These are very challenging times in the face of the most contagious pandemic in our lifetime. There are obvious implications with regards to physical and financial well- being. We hope that you and your family are safe during this crisis.

This letter is to speak to you as fellow investors at the Riverfront Condos. If the financial crisis of 2007-2008 was devastating, indicators suggest the fallout from coronavirus could be catastrophic on many levels. So how do we protect our investment?

We are a growing number of concerned unit owners gathered to address the leadership surrounding our financial investment at the Mint, Wind, Ivy and Master Associations.  To endure the impact and to minimize damage of COVID-19 requires leadership that is capable, transparent and ethical. Alarming events in past months have raised grave concerns about the current leadership, particularly at the Master and Mint Associations.

For example, Mint owners received an email on Sunday March 29 listing all the improvements made at the building without a special assessment or significant maintenance increase. For any person who has owned and lived in a condo for many years and closely follows the operations alongside the budget, knows this is not something to be proud of.  Quite the opposite. It is cause for great concern.

As investors, we must look beyond the superficial, beyond the glistening aesthetic appearance to understand the financial soundness.  The discovery of unapproved actions and expenditures and unnecessary maintenance increases has set off alarms.  For financial well-being or even survival as we enter turbulent times demands new leadership, a new board of directors with core ethical principles.

ALARMING DISCOVERIES AND QUESTIONS AT MASTER & MINT

Upon receiving a copy of the Master Association budget a number of red flags were raised. 

· Why is there a 56% increase in utilities when the average FPL increase is well under 10%?

· Why is there a more egregious 80% increase in water usage?

· Why did the Master board assign the only 2 marina boat slips to themselves (to the Mint President and the developer), without opening it up to owners of Association when we have 1500 unit owners?

· Why should the Mint President (Troy Taylor) only pay $1200 per year for the boat slip, when the average market value is $7-10k/month?

· Did you know the Mint & Master President Troy Taylor benefits from the Marina by earning $7-10k a month from sublicensing the slips to outside persons? Are you aware that sublicensing to non residents is against the bylaws of the Master?

· Why do we have to pay an increase of 36.2% for the Master Association while the Mint President pays ZERO increase for his marina boat slip, whose “rent” goes to the Master Association?

· Why did we pay over $200k for the Marina improvements but we are not earning any revenue from it to offset other costs? This could lower our maintenance!

· Why is there no expiration date on the marina lease with the Mint President? It is an evergreen contract, automatically renewed each year.

· Why have we been paying for the water and electricity for the yachts? Is this why our water bill is up 80%?

· Why are Master Association meetings only conducted weekdays during the day while most owners are at work?

MINT OWNERS: 

Artwork

You may have noticed the dark artwork in our light, airy lobby. Did you know we are “renting” the artwork from the artist in Atlanta for $5,300 a month? This is highly unusual.  Why rent when the artwork sells for $5k to $10k? In our findings we learned that Troy Taylor is part owner of an art gallery (ZuCot) in Atlanta that represents the artist Julio Mejia. Payments for the rent are sent to Art Premiere Inc., with the same address and phone as the gallery. There was also no Board meeting to discuss or vote on this $64k a year expenditure to inform owners.  Isn’t this against the bylaws? Payments have now totaled $85k to date. We appreciate fine art and décor but who is really benefiting? Where is the transparency?

Why replace the beautiful mirrors in lobby with this harsh artwork that is costly?

Where are those mirrors?

Casa Design 

The remodeling of our hallways  has commenced this month (March 2020) with  Casa Designs + Interiors Inc (an unlicensed contractor). Casa Design was awarded the $1.3 million project to remodel our hallways even though some Mint board members felt concerned with the appearance of the board having a personal preference with the contractor Casa Design and that they felt uncomfortable approving the job with Casa Design. Click here to learn more. 

So why did Casa Design get the job?

Structural Defects
So how is the Mint able to undertake so many projects totaling millions of dollars without a special assessment?  One possible answer: Money that was suppose to fix structural defects is now going to aesthetics like the hallway remodel. This is a natural concern as it involves structural soundness and safety. Click here to learn more.

Isn't this negligence? 

Why spend money on artwork 
and instead use funds towards fixing structural issues?

Missing Published Minutes of the Meeting
In 2019 there was more than one Board meeting held where Minutes (documentation) of what occurred have never been published. Why? Could it be that a board member came with a thick file and wanted to share some concerns about the Mint President Troy Taylor? The manager follows directions of the President and perhaps was instructed not to publish the Minutes. Owners are encouraged to demand the minutes be published and approved by the board as soon as possible in a board meeting. 


ALL OWNERS:

In November the Riverfront Master passed a $1.9 million budget which represented a  36.2% increase. The Mint & Wind associations never sent an email to their owners advising about this important meeting to discuss the significant $400k increase before it was passed. A notice may have been legally posted but it was not clearly visible. Two Mint owners attended as they learned about it from our neighbors at the Ivy. Only the Ivy management sent an email to their owners.

We believe in improvements for a better and stronger security, but the bulk of the increase for the security at the Master Association was for a new security team which has not proven to be any better than the previous team. We believe in improvements of our beautiful condominium, but not at unnecessary costs and risk of physical harm. We believe it is time to pare down exploding budgets and make board members accountable!  Therefore, we need a change for more transparency and revised ethical procedures to benefit all owners, not just select board members.

What is the fastest, best, and most cost effective way to change this? Through elections! The Mint elections are coming up in May.  The Wind elections are at the end of the year.  

WE NEED NEW LEADERSHIP, A NEW BOARD OF DIRECTORS!

PLEASE visit the website to learn important details:

http://www.riverfrontcondosmiami.com 

On this website you will find official documents such as the association budget, the marina leases, and amendments.  Please visit this website regularly for updates.

Important Next Steps for MINT OWNERS:

1. WE NEED YOU. Please consider running for the board of directors! You do not need to live here to contribute. Board members can phone in. But our association needs new leadership!  You may run for the Mint Board or serve as representative to the Master Association or both. Candidate forms have been sent by the Mint Association. You should have received it in mail.

2. REQUEST ELECTRONIC VOTING.  It´s affordable and easy to add. More associations are switching to electronic voting. To implement this system, you must email the Mint Manager formally requesting that the Mint Association switch to electronic voting. This will help ensure unit owners abroad have a chance to vote in their investment instead of relying on paper ballots that take weeks to mail and risk arriving after elections. 

3. PLEASE VOTE. Even if you do not run for the board, the most important step is to VOTE in your upcoming elections in May.  We need over 100 votes! If not enough owners vote, the current board automatically remains.  YOUR VOTE IS EXTREMELY IMPORTANT TO REACH QUORUM.

4. STAY INFORMED. Please send your name, unit #, and contact phone number via email to ownersriverfrontcondos@gmail.com to be added to the distribution list for important updates.

Please do not hesitate to ask any questions via email! We understand this can be confusing.  A Mint owner (non-board member) will be more than happy to reply.

Please be safe during this pandemic.

Sincerely,

Concerned owners at the Riverfront Condos, Miami FL

ownersriverfrontcondos@gmail.com

Descrubimientos Alarmantes sobre su Inversion en el Mint & Master Associacion

Estimados propietarios del Riverfront-- Mint, Ivy and Wind:

Estos son tiempos muy desafiantes ante la pandemia más contagiosa que hemos enfrentado en nuestras vidas. Hay implicaciones obvias con respecto al bienestar físico y financiero de todos los dueños e inversionistas de nuestra comunidad.  Esperamos que ustedes y sus familias estén a salvo durante esta crisis.

Esta carta es para hablarles como colegas e inversionistas de los Condos del Riverfront. Si la crisis financiera del 2007-2008 fue devastadora, los indicadores sugieren que las consecuencias del Coronavirus serán catastróficas en muchos niveles. Entonces, ¿cómo protegemos nuestra inversión?

Somos un grupo de propietarios muy preocupados y nos hemos reunido para direccionar el liderazgo que rodea nuestra inversión financiera en el Mint, Wind, Ivy y en la Asociación Master (compuesta por los tres edificios). Para soportar el impacto y minimizar el daño de COVID-19 se requiere un liderazgo capaz, transparente y ético. Pero eventos alarmantes en los últimos meses han generado serias preocupaciones sobre el liderazgo actual, particularmente en las Asociaciones del Master y del Mint.

Como inversionistas, debemos mirar más allá de lo superficial, más allá de la brillante apariencia para comprender la solidez financiera. El descubrimiento de acciones y gastos no aprobados, y de aumentos innecesarios y no justificados en el mantenimiento, han disparado graves alarmas. Para el bienestar financiero e incluso la supervivencia financiera, a medida que entramos en tiempos turbulentos, se requiere un nuevo liderazgo, una nueva junta directiva con principios éticos fundamentales.

ALARMANTES DESCUBRIMIENTOS Y PREGUNTAS PARA EL MASTER ASSOCIATION & EL MINT

Al recibir una copia del presupuesto de la Asociación del Master, han salido a relucir un número de alertas rojas.

• ¿Por qué hay un aumento del 56% en los servicios públicos, cuando el aumento promedio de FPL es muy inferior al 10%?

• ¿Por qué hay un aumento notorio del 80% en el agua?

• ¿Por qué la Junta directiva del Master asignó los dos únicos muelles de la marina entre así mismos (al presidente de la asociación del Mint y al constructor), sin ofrecer estas opciones a los 1,500 propietarios?

• ¿Por qué debería el presidente del Mint solo pagar $1,200 por año por el arrendamiento de uno de los muelles, cuando el valor promedio en el mercado es de $7,000 a $10,000 al mes?

• ¿Sabías que el presidente del Mint & el Master, Troy Taylor, se beneficia del subarriendo de la marina al ganar entre $7,000 y $10,000 al mes? (Tenemos pruebas). ¿Eres consciente de que esto va en contra de los estatutos de la Asociación del Master?

• ¿Por qué tenemos que pagar un aumento del 36.2% por la Asociación del Master, mientras que el presidente de la misma paga CERO aumento por el arrendamiento de su muelle en la marina, cuya "renta" va a la Asociación del Master?

• ¿Por qué pagamos más de $200,000 por las mejoras de la marina, pero no estamos recibiendo ningún ingreso para compensar otros costos? ¡Esto podría reducir el costo de nuestro mantenimiento!

• ¿Por qué no hay una fecha de vencimiento para el contrato de arrendamiento del muelle en la marina del presidente del Mint? Es un contrato indefinido, que se renueva automáticamente cada año.

• ¿Por qué hemos estado pagando por el agua y la electricidad de los yates que anclan en nuestros muelles en la marina? ¿Es por eso por lo que nuestra factura del agua ha subido un 80%?

• ¿Por qué las reuniones de la Asociación del Master solo se llevan a cabo entre semana, durante el día mientras que la mayoría de los propietarios están trabajando?

PROPIETARIOS DEL MINT:

Arte
Es posible que usted haya notado las  obras de arte oscuras y fuertes en nuestro luminoso y espacioso lobby. ¿Sabía que estamos "alquilando" esas obras de arte de un artista de Atlanta por $5,300 al mes? Esto es muy inusual. ¿Por qué alquilar estas obras de arte cuando las mismas se venden entre $5,000 y $10,000? En nuestros descubrimientos encontramos que Troy Taylor es copropietario de una galería de arte que se llama (ZuCot Gallery) en Atlanta y esta misma representa al artista Julio Mejía, autor de las obras en nuestro lobby. Los pagos del alquiler se envían a una empresa llamada Art Premiere Inc., la cual tiene la misma dirección y teléfono de la galería de Troy Taylor. Tampoco hubo una reunión de la Junta para discutir o votar sobre este gasto de $64,000 al año para informar a los propietarios. ¿No es esto en contra de los estatutos? Los pagos hasta la fecha van por un total de $85,000. Apreciamos la buena arte y la decoración, pero ¿quién se beneficia realmente? ¿Dónde está la transparencia?

Casa Design
La remodelación de  nuestras corredores ha comenzado este mes con Casa Designs (un contrastista sin licensia). Casa Design obtuvo el contrato por $1.3 millones para remodelar nuestros corredores incluso cuando algunos de los miembros de la junta  (Board) estaban preocupados sobre la apariencia de que el Board tenia una preferencia personal con el contratista Casa Design y se sintieron incomodos aprobando el trabajo con Casa Design. Haga clic aqui para obener más información. 

Defectos Structural
Entonces  ¿cómo  puedo el Mint emprender tantos proyectos por un total de millones de dólares sin una "special assessment" ? Una respuesta: el dinero que se suponía se utilizaría para reparar los defectos structurales del edificio, ahora ciertos fondos se destinarán a la estética, por ejemplo, la remodelación de los corredores. Esto es de gran preocupación, ya que implica riesgos a la solidez  estructural y seguridad. Haga clic aqui para obtener más información. 

TODOS PROPIETARIOS:

En noviembre, la Asociación del Riverfront Master aprobó un presupuesto de $1.9 millones que representó un aumento del 36.2%. Las Asociaciones del Mint & el Wind nunca enviaron un comunicado a sus propietarios para informarles sobre esta importante reunión para discutir el aumento significativo de $400,000 antes de que se aprobara. Es posible que se haya publicado legalmente un aviso, pero no fue claramente visible. Dos propietarios del Mint asistieron a la reunión porque se enteraron de esto por nuestros vecinos del Ivy. Solo la gerencia del Ivy envió un correo electrónico a sus propietarios.

Creemos en las mejoras para una seguridad mejor y más fuerte, pero la mayor parte del aumento de la seguridad en la Asociación del Master fue para un nuevo equipo de seguridad que no ha demostrado ser mejor que el equipo anterior. Creemos en las mejoras de nuestro hermoso condominio, pero no en costos innecesarios. ¡Creemos que es hora de reducir los presupuestos excesivos y hacer que los miembros de la junta se hagan responsables! Por lo tanto, necesitamos un cambio para mayor transparencia y nuevos procedimientos éticos para beneficiar a todos los propietarios, no solo a miembros seleccionados de la junta directiva.

¿Cuál es la forma más rápida, mejor, y más rentable de cambiar esto? ¡A través de las elecciones! Las elecciones del Mint se realizarán en mayo y las del Wind a finales de año.

¡NECESITAMOS NUEVO LIDERAZGO, UNA JUNTA DIRECTIVA NUEVA!

Por favor visite este sitio web para conocer detalles importantes:

http://www.riverfrontcondosmiami.com

En este sitio web encontrará documentos oficiales como el presupuesto de la asociación, los alquileres de la marina y las revisiones hechas. Visite este sitio web regularmente para obtener actualizaciones.

 Próximos pasos importantes para seguir por los propietarios del MINT:

1. LO NECESITAMOS ¡Por favor considere postularse para la junta directiva! No necesita vivir aquí para contribuir. Los miembros de la junta pueden llamar por teléfono. ¡Pero nuestra asociación necesita un nuevo liderazgo! Puede postularse para la junta directiva del Mint, servir como representante ante la Asociación del Master, o ambas. Los formularios de candidatos serán enviados por la Asociación del Mint a finales de marzo.

2. SOLICITE VOTACIÓN ELECTRÓNICA. Es asequible y fácil de implementar. Cada vez más asociaciones están adoptando la votación electrónica. Para implementar este sistema, cada propietario debe enviar un correo electrónico al administrador del Mint solicitando formalmente que la Asociación del Mint cambie el sistema de votación antiguo por votación electrónica. (manager@mint.net y también a la District Manager ivonne.herrera@fsresidential.com.) Esto ayudará a garantizar que los propietarios de las unidades que se encuentran en el extranjero tengan la oportunidad de votar, en lugar de depender de las boletas de papel que tardan semanas en enviarse por correo y que además corren el riesgo de llegar después de las elecciones.  

3. POR FAVOR VOTE. Incluso si no se postula para la junta directiva, el paso más importante es VOTAR en las próximas elecciones que se darán lugar en mayo. ¡Necesitamos más de 100 votos! Si no votamos suficientes propietarios, la junta directiva actual automáticamente sigue liderando. SU VOTO ES EXTREMADAMENTE IMPORTANTE PARA ALCANZAR EL QUÓRUM.

4. MANTENGASE INFORMADO. Envíe su nombre, número de unidad, y número de teléfono de contacto por correo electrónico a ownersriverfrontcondos@gmail.com para que sean agregados a la lista de distribución y así mismo recibir actualizaciones importantes.

¡No dude en hacer cualquier pregunta por correo electrónico! Nosotros entendemos que esto puede ser confuso. Un propietario del Mint (no miembro de la junta directiva) estará encantado de responder sus preguntas.

Por favor, manténgase seguro durante esta pandemia.

Sinceramente,

Propietarios preocupados del Riverfront Condos, Miami, FL

ownersriverfrontcondos@gmail.com

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


Link 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. Marina slip only be sublicensed to a Member of the Association, in other words only residents of the Riverfront Condos can use the marina, no outsiders


Now if you also examine this lease with the 2nd Amendment  one can easily connect the dots to see that there are clear violations of Florida Law and Master Association ByLaws with regards to current marina situation.

1. Sublicenses (the agreement between Troy Taylor and current yacht owners) were never approved by the board
2.  All yachts are owned by nonmembers of the Association.

These are only two of many violations.

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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.

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.

What Happened at the Riverfront Meeting Dec 19?

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

[For a link to the video recording, scroll down to the end]

In attendance were:
Board Member and 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  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.

A unit owner asked the question for clarification, that if  as  a volunteer position if that means a board member does not receive any income or payments. Troy Taylor confirmed that is the case.

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 that she requested a board meeting  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.


Here is a link to the video recording of the meeting.
(Note: We apologize we did not have a tripod at the time and the volunteer resident who was hand holding the recorder for the first part, later in the meeting she set the camera on a chair and it tilted. While you can not see the board members, you can still hear the meeting)

First few minutes were to approve the minutes of prior meetings

19:45--Discussion about the Architectural Review Board that decides on the "standards" of the community with regard to signage. Unit owner ask who is on this board. Troy Taylor explains it consists of 3 people.  The Declarant (the developer), Mr. Troy Taylor, and an architect who is not a unit owner). Per Mr. Taylor, The ARB "serves at the pleasure of the Declarant". 

24:35 unit owner asked if the Board positions were paid positions. Troy Taylor stated it is a volunteer position; Shahab Karmley stated no one gets paid for their time.

28:45 discussion begins on the Master budget

31:25 [Camera is moved. While viewers can not see board members it is still audible]

32:50  Ivy Rep shares Ivy Unit owners did read and study the Master budget and many had questions; She was unable to ask any questions as requests to hold a meeting and discussion with the board were refused by President Troy Taylor.

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

IMPORTANT UPDATE on Riverfront Maintenance Increase

If you are a unit owner, PLEASE READ.
If you are a renter, please share this urgent message with your landlord as this may impact your rent.
If you are owner or renter, PLEASE SHARE THIS with all other owners and renters you know in the 3 buildings.

This is a unit owners group effort.  PLEASE SPREAD THE WORD WITH ANYONE IN YOUR BUILDING, IN YOUR WALKS, etc...  It's time to take action and protect our investment and our home.

TO ALL UNIT OWNERS of the Ivy, Wind, and Mint.

The Riverfront Master Association recently passed a 36.2% increase on the Riverfront Maintenance, which is part of our overall HOA.  The many owners who came to learn of the increase and inquired were unsettled with what they learned.  The board of directors passed the budget without a board discussion so other directors did  not have opportunity to offer input or share other solutions or make a motion for changes.   This raised a red flag.  Please continue reading to learn the chain of events to date.

HIGHLIGHTS

• Budget was created by manager Allan Yepez and finalized by President Troy Taylor

• Oct 26 2019 Budget was emailed to Riverfront Board of Directors

• Ivy Rep emailed the manager and board asking for a board meeting to discuss the budget; Other board members never responded; Ivy rep requested meeting 5 times

• Notice was given for Board meeting Nov 26 with agenda to "discuss" and vote on 2020 budget.

• Nov 26, 2019, The developer Shahab Karmely phoned in and announced he forgot he had other meeting. No time for discussion. A motion was made by the President to pass the budget. Shahab the developer seconded it. Maria Elena the WIND rep voted in favor. Only the Ivy rep voted AGAINST it. 

The Riverfront Board passed a 36.2% increase with 
ZERO discussion within the board of directors. 

Therefore there was ZERO input from unit owners.

What does this mean for you? It's more than a $28 increase.
Please read on. 

QUESTIONS?? Please Contact OwnersRiverfrontCondos@gmail.com

Riverfront Master Board of Directors--exterior of the building

Mint Rep     Troy Taylor
(Pres of the Mint Assoc, Pres of the Master) = 1 vote

Developer   Shahab Karmely
(KAR Properties) VP of the Master = 3 votes (3 lots)

Wind Rep    Maria Elena Negrin
(Pres of the Wind Assoc) = 1 vote

Ivy Rep       Christine Michaels
(not on any other board) = 1 vote

Below is the detailed 

TIMELINE OF EVENTS

October 29, 2019, Riverfront Master manager Allan Yepez sent the Riverfront proposed 2020 budget to Master of Directors and each building's property manager. (Note: the Riverfront Master pertains to the exterior of the building, ie. security, the common areas, such as the dog park etc. The Riverfront maintenance is part of your overall HOA maintenance). 

The Riverfront maintenance increase is 36% for all 3 buildings (average $28/unit)  which means when you add on your condo maintenance fee, the total increase would range from  $40-$80 per unit per month depending on the size of your unit. 

$28 avg RMA maint. increase + Condo Assoc Maint. Increase = TOTAL HOA ($40-$80)

(Note: we believe the $28 could be much lower and still maintain security levels)

The Ivy held a meeting with board members, Ivy rep to the Master and Ivy unit owners were concerned about the large increase.  The Ivy rep understood some increases which she did vote for but was unclear and unsure about other budget items. Examples:

• 56% increase in utilities; 80% increase in water????
• 10-20% overages on many budget items with no financial backup totaling $40k
• Additional "allowance" for numerous budget items with hard costs ranging from hundreds to thousands of dollars 
• $50k in "Undefined Special Projects"
• OVER $200K in unexplained overages

On November 12, the Ivy Association held a meeting to better understand the Master budget. Master manager Allan Yepez attended and answered questions to the best of his ability. Many questions remained unanswered. Allan directed those unanswered questions to the President Troy Taylor (who finalized the budget) and to the Master Board.  Christine Michaels, the Ivy rep who is on the Master Board, could not answer them and was seeking answers as well.  Everyone present in the room agreed the increase could possibly be half of what was proposed for the Riverfront.  Therefore a board meeting was needed for the unit owners to ask questions or have their questions presented by their representative. 

After 5 requests over 4 weeks (documented on emails), the Ivy rep requested a board meeting to discuss different issues as it related to the budget and the budget itself in detail. All other board members refused. 

RIVERFRONT BOARD MEETING TO VOTE ON MASTER BUDGET

On November 26, 2019, the Riverfront Master Association held a meeting at 1pm to "discuss" and vote on the budget as was indicated on the agenda.  No other items could be discussed.  

Three board members phoned in

1. Troy Taylor Mint rep

2. Maria Elena Negrin Wind rep 

3. Shahab Karmely (the developer)

Physically present were:

1. Allan Yepez, Riverfront manager

2. Christine Michaels, Ivy Rep

Also present were a room full of unit owners primarily from the Ivy.

NOV 26, 2019 MEETING

Shahab Karmely the developer phoned in and stated that he forgot he had another meeting (note: he has a dedicated secretary who keeps his schedule) and so they would have to vote on the budget so he could go. As witnessed by many unit owners, the Ivy Rep spoke up and explained the board has never met to discuss the budget and there needed to be a discussion as there were questions and a room full of unit owners. President Troy Taylor immediately interjected and made a motion to pass the budget.  The Ivy rep insisted on a discussion. Shouting from Shahab and Troy was directed to the Ivy rep stating that a motion was made and that a vote was required.  Wind rep Maria Elena Negrin said nothing but voted in favor of the budget. Ivy rep Christine Michaels voted AGAINST the proposed Master 2020 budget.  In less than 2 minutes the budget was passed with NO discussion. 

RIVERFRONT MASTER MANAGER & IVY REP ANSWER QUESTIONS
The Riverfront Manager and Ivy rep stayed for an hour after the meeting to answer unit owner questions to the best of their ability. Other questions remained unanswered given there was no board meeting to discuss. One of the unanimous requests from unit owners in attendance was:

Unit Owners requested that the Riverfront Master start to hold meetings in the evening so unit owners could attend. 

CAN THE BUDGET STILL BE CHANGED OR AMENDED?

The Ivy rep consulted with legal counsel if the budget could still be changed or amended. The answer was  YES. Legal counsel agreed that the budget should be "discussed vigorously among board members". 

Since this communication, the Ivy rep has sent various emails to fellow board members once again requesting a board meeting for a "healthy discussion" on various issues and that the meeting be held in the evening.

Requesting:

• Review of 2020 Budget and proposed changes
• Homeless situation
• Security
• Marina
• Other Common Areas
• Discussion with Unit Owners

MAJORITY OF RIVERFRONT BOARD REFUSE TO HOLD MEETINGS IN EVENING
Board President Troy Taylor (from the Mint) offered times in the daytime only.
And a slew of email exchanges occurred arguing over the time of day. Troy Taylor offered only daytime.  Christine Michaels insisted on 3 occasions for an evening meeting based on Unit Owners' expressed desire to participate.

On December 10, the Riverfront Master manager also sent a final email requesting an evening meeting. Only the Ivy rep Christine Michaels responded and agreed.

• Other Board members ignored all emails from the Ivy rep and the Property Manager
• The Riverfront Master has never held a meeting in the evening.

NEXT BOARD MEETING

As of Dec 11, Riverfront Board received email that the next board meeting will take place Dec 17 at 1pm in the Ivy Media Room, 10th floor.

The Final agenda is not what was requested.  Per emails, other Board members do NOT want to revisit the budget and will only discuss new projects related to the budget.

Final Agenda:

 NEW BUSINESS

• 2020 Budget
• Homeless
• Security
• Marina
• Children's Playground

UNIT OWNERS FROM ALL 3 buildings are strongly encouraged to attend.

WHAT WILL HAPPEN AT DEC 17 MEETING? 
Update as of Dec 16 meeting changed to Dec 19, 1pm; Ivy Media Room
The Developer and Troy Taylor will give elaborate speeches of  "a vision" from 3 years ago. Something that has not been discussed in any length this year. This is why the Ivy rep requested  an end of the year board meeting in the evening to discuss many issues with the owners, where owners themselves could ask questions. 

Please be sure to share your email with group administrators ownersriverfrontcondos@gmail.com  To ensure you are a unit owner, and not one of the board members, you will be asked to send in a form of ID. We hope you understand.

This is our home and our investment.  Board members are volunteers and we thank them for volunteering their time and skills. But they also represent all of us, not their self interests. There needs to be transparency.

Unit owners are encouraged to attend meetings whenever possible. Ultimately it is our responsibility to oversee our investment. 

QUESTIONS???
Any questions or to obtain a breakdown of the 2020 Riverfront Budget

Please contact  OwnersRiverfrontCondos@gmail.com 

Questions/concerns may also be sent to the Riverfront Master, 

Allan Yepez  manager@riverfrontmaster.com


CHECK THIS WEBSITE DAILY
As we do not have all unit owner's email,
we ask that you check this website daily.