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With the arrival of spring, it is time to start getting ready for our April General Membership Meeting. And, we plan to hold the meeting in person at The Lodge. This, of course, assumes that there is no resurgence of Covid beforehand. If a spike in Covid does occur, we will conduct the meeting via Zoom as we did last year. So, mark your calendars for Thursday, April 28.
The proposed budget for the new fiscal year will be distributed prior to the meeting and it will be reviewed in detail at the April General Membership Meeting. The vote on the budget will be conducted the week after the meeting using the website system.
The Mortgage on The Lodge is scheduled to end in September of this year. The terms of the loan include an end of term balloon payment of the remaining principal balance which will be approximately $290,000. High Crest Lake Lodge has recently received a commitment letter from Valley National Bank to refinance the Lodge mortgage. The proposed loan will completely pay off the remaining principal balance of the loan over a 10 year amortization schedule with a monthly payment that is lower than our current loan. Details will be presented at the April General Membership Meeting.
The Master Plan was approved by the membership by a margin of 90% for and 10% against. In the April meeting, we will provide an update on each of the Master Plan initiatives.
Free Membership for the coming fiscal year will be awarded to the winner of our latest fundraising raffle. The drawing will be held at the April General Membership Meeting. Tickets are 1 for $20 or 3 for $50 and can be purchased through Venmo @HCLake, PayPal to highcresttreasurer@gmail.com, by cash to any Board member or check dropped in the lodge mailbox payable to High Crest Lake Lodge.
For additional information on these and several more topics, check the High Crest Lake website and keep an eye out for future emails.
