A special meeting of the Condominium Association was held on April 9, 2008 to review and start the process to amend the Association Bylaw governing minimum leasing periods and a rental cap not to exceed 30% of the Association’s units. This important meeting of homeowners spilled out of the Community Room and into the lobby.

During the past thirteen months, a number of events benchmarked the progress of this important issue. The Lease Policy Committee (LPC) conducted hundreds of hours of research and meetings; authored and issued a number of pamphlets and fliers; held three homeowner’s information meetings; wrote a draft lease policy; and conducted a proxy vote on the draft, which lead to a revised policy. From the outset, it was the intent of the LPC to develop an amendment that had the best chance of being accepted by the majority of homeowners. In fact, when it became apparent that the initial policy would not receive approval from the required number of homeowners, the LPC issued a revision. It was for this reason that the 9 April meeting was scheduled; it was time for a final review and a vote.

Mike Rifkin, President of the Board of Directors, opened the meeting by introducing Brendan Bunn, Counsel for the Association. Brendan stated that our Community is among many who are proposing lease cap Bylaw Amendments to curtail runaway rentals. Counsel emphasized the legality of the amendment as long as it is passed by 2/3 of the owners. More importantly, he concentrated on the amendment’s “grandfather” clause, which gives homeowners as of the date the amendment is passed the right to lease their unit as long as they own the unit, even if the percentage of units has already exceeded the lease cap. This “grandfather” clause is of vital importance to Association homeowners, and should alleviate the concerns of those who formerly objected to this proposal.

Since a quorum was not reached, the meeting was adjourned for two months and until such time as either 2/3 vote in favor or 1/3 votes the proposal down.

One of our owners established a ‘blog’ site to provide a channel for owners’ questions, comments, and general sharing of information: http://msa-towncenter.blogspot.com.

For the Latest Meeting Minutes Click Here

For the April 2008 Newsletter Click Here

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