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Treasure Island Homes Association

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Financing Vote for Proposed Gated Community Plan
The Board of Directors of the Treasurer Island Homeowners Association, Inc. herein referenced as the “Association” came together with the help of our community to organize and create a plan for the future re-development and beautification of the neighborhood.  After an 8-month review, a plan was created on the future vision for the community; we call it Treasure Island Beautification Plan (“TIBP”). As part of the TIBP, a Proposed Gated Community Plan is being considered. In order to fund future improvements for the Proposed Gated Community Plan, the Association will require additional capital funds in the form of a Bank Loan up to an amount of $250,000.00 to pay for all expenses associated the Proposed Gated Community Plan.  Therefore, at the January 2018 Board of Directors meeting, a motion to move forward with the Treasure Island Beatification Plan was approved with the stipulation that a membership vote would take place on the proposition of a Proposed Gated Community Plan and a request to fund the improvements thereof.

Hence, the Association is seeking the approval of a majority of the quorum of membership present or by validated voting process at this Annual Meeting to secure short-term financing to fund the capital improvements associated with the Proposed Gated Community Plan. The Association is seeking the permission of the membership to borrow funds through a qualified and secured bank loan of up to a maximum loan amount of $250,000.00 (Two Hundred and Fifty Thousand Dollars).


 
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