Outcome of LTPA Bylaw Amendment for Fire Protection

The voting for the Fire Insurance Amendment to the LTPA Bylaws is now complete and the measure has failed to pass.  We received over 50% of members votes with 62.5% in favor and 37.5% against.  The LTPA Bylaws require at least 67% favorable so the measure did not pass.

 

The proposed amendment represented the Board’s best solution for protecting our assets without impacting the annual budget.  Comments coming from members included:

1.         Insufficient discussion by the Board on options or alternatives

2.         No need to insure all the Park’s assets

3.         Question the risk of a major fire or who would use the Park thereafter

4.         Some worry that the assessment would be overbearing on some members

The Board has actively discussed this proposal for over a year and received many considered suggestions from our members.  The proposal was a composite of many of those suggestions.  The decision to put this to vote this year is based in part on the increasing difficulty in getting coverage for our Park and the knowledge that this will only get harder or more expensive.  The Board will always be open to further discussion and we encourage you to respond to this message with any ideas that would help.  The Board will meet again in January and at that time consider next steps for a long-term solution.

 

In the meantime, this will channel the Board’s activities to find fire insurance from available vendors or, if necessary, use California Fair to protect our core assets.  Some of our assets will remain uncovered such that we cannot replace them in the event of a major fire.  We will advise members of the financial impact on our annual budget (and assessments) as we become aware of the costs.

 

Thanks for your consideration,

LTPA Board