Special Meeting 2016

On April 6, 2016 the Association Board communicated with each lot owner a formal notice of a Special Association Meeting, Saturday, May 28, 2016 at 9:00am @ Grace Adventures in the Beacon (Chapel).

This is a very important meeting for our Association and we encourage all members to attend.  The South Dam is a critical part of Upper Silver Lake.  The South Dam has served the Association well for 51 years.  The reality is repairs need to be done to replace the discharge pipe and the Spillway/Boat launch.  The proposed special assessment will provide the remaining funds to begin the repair process in mid August, 2016.  The Special Assessment will be the only item of business conducted at this meeting.

In order to be eligible to vote, the 2016 dues and other amounts still owed to the Association must be paid.

The Special Assessment ballot as approved by the Board of Directors is as follows:

The USLIA Board of Directors is recommending approval of a $1200 Special Assessment per lot to be used for repair of the South Dam & Spillway/Boat Launch.  Notice of the Special Assessment will be mailed to each property owner at the last known address of record.  The USL Improvement Association By Laws, Article IV, Section 1, call for a Special Assessment to be paid within 60 days of receiving notice of the Special Assessment.  The Board of Directors has voted to move the due date to September 1, 2016 since construction is scheduled to begin mid-August 2016.

As required in Article X of the USL Improvement Association By Laws, the Association Treasurer is authorized to secure a loan at the best term and rate available to fund authorized payment requests.  The loan will only be used in the event the cad currently held for project plus collection of the Special Assessments does not equal the amount needed to pay authorized payment requests.  The amount of the loan will not exceed the outstanding amount of unpaid Special Assessments.  Any loan principal and interest will be repaid from Special Assessment payments received by the Association.

We look forward to seeing you at the Special Association meeting May 28, 2016.

UPDATE  After the presentation the owners voted to pass the special assessment 79% to 21%.  Look for further details in the mail and also on this website.

Upper Silver Lake South Dam project