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Twin Lakes HOA vs. the golf club | Federal Way letters
I would like to address the "small price to pay" mentioned in your Oct. 31 article on the subject of the Twin Lakes HOA (TLHOA) bailing out the Twin Lakes golf course. The "small price to pay" is $300 the first year, per member. For 1,369 TLHOA members, that comes to $410,700. The proposed contract also has a 15-year minimum term, with a maximum 5 percent inflation factor built in. Also in the calculation mix is the predictions of the financial community experts that inflation is going to spiral upward in the next year, and continue for several years due to the government policies of the last year.
So, one can calculate that, for the membership as a whole, at a 5 percent inflation factor over 15 years, our cost will be about $775,000 (rounded). This is not chicken feed. Oh, I forgot to mention that this contract will continue forever unless the association cancels it by majority vote. Does this sound dangerous to you?
So what do we get for this? A chance to buy the second defunct golf course that has a current quality rating of 70.6 (the golf course's own rating on its web page) in a range set by the National Golf Course Association that varies from 55 to 150. That puts this one pretty low on the totem pole. One has to ask oneself how many of our members will even use the rest of the goodies offered. Then there is the thrill of having one member voting right on the golf club's board of directors. How much influence does one suppose that will have on their decisions? Despite the very real impression among association members that we are considered second-class citizens by the golf club, maybe they should just donate the course to the TLHOA so we can use it as permanent open space. Then our values would not "plummet" as said in the aforementioned article. What a novel idea! I mean, how many people buy here because of the golf course?
Rod Sterley, Twin Lakes