A Message to REALTORŪ Members from the Pines of Portage Board of Directors

November 12, 2009

Source: Sally Lett, Pines of Portage Board of Directors
Email: sally@lettmlc.com

To: Pines of Portage Co-owners and Area Realtors.

It has been brought to the attention of Pines of Portage Board of Directors that a totally false and unfortunate rumor has been circulating among the co-owners, area realtors and potential condominium buyers.

The rumor is that the Association is in bankruptcy. Nothing could be further from the truth!! This Association has not, is not and never will be in a bankruptcy status.

While some of the co-owners residing here have hit hard times due to job losses and the economy and are in personal bankruptcy, this does not affect the Association.

If you hear of more rumors, please help stop them! You can also direct them to our Parkview Hills Management or Board members.

The current management company, Parkview Hills Management Company, PVHMC, has done an excellent job assisting the Board in taking control of our Association again. No longer are we paying for services that provided only a band-aid job. A prime example is the roofer that has not lived up to the expectations of our needs.

We are currently out of debt to PVHMC and have some funds set aside for the repair and maintenance that was put off this summer. Time will tell with the upcoming snow season just how well we have forecast for our future.

The special assessment has helped us in a large part to get our finances in order and will enable us to start repairing roofs that were not properly done in the past, and start replacing the remaining bad roofs next summer. We still need to continue to be cautious with our money until we have our financial status completely back on track with a reserve available for future repairs.

We hope this helps put your fears to rest and stops the false rumors.

Sincerely,
Pines of Portage Board of Directors

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