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Tagged: PPP Loan
- This topic has 5 replies, 5 voices, and was last updated 11 months, 2 weeks ago by Transparent RSF.
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01/12/2024 at 8:18 pm #3742Transparent RSFParticipant
Just have a few questions…
It was very clear during the meeting that the majority in the room was in favor of supporting our volunteer elected Board of Directors to go through their process of dealing with the hot potato they were handed. Pursuant to the conclusion of the Townhall meeting (which by the way had been requested at the December meeting by the minority) we should all support the BOD in their efforts (it was even acknowledged by Mr. Krisel and Zarrabian in their discussion/presentation – “we do not intend to sue the Association”).
So what next? We should all let the process go through.
While we all appreciate the concerns of Mr. Whittemore, Krisel and Zarrabian there is still one overhanging dark cloud. They elected to retain Mr. Aguirre for their efforts and we are all aware of what transpired the last time Mr. Aguirre was involved in with the Association (i.e. the contentious Illegal Grading lawsuit).
If, as stated during the meeting, Mr. Whittemore, Krisel and Zarrabian are not intending to sue the Association then has Mr. Aguirre’s “retained” agreement been terminated? If not, then what?
Many thanks as it could be very concerning based on very recent history.
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01/11/2024 at 4:55 pm #3702AnonymousInactive
I went to the meeting the other night. It was like an out of control talk show. And not just the audience yelling at the lawyer to leave. One of the board members totally lost it. I don’t know if you were there, but the embarrassment for our community just reached record high levels. I’ve been around a long time and I’ve never seen anything like what happened on Tuesday and I hope I never see it again. I never expected that behaviour in our community.
I didn’t fault the current board previous to this meeting. This didn’t happen on their watch. But now, the way they are keeping the community in the dark and aren’t being transparent and refusing to show the documents to let us understand what happened. That’s not appropriate.
The document requests are reasonable. Even if they had to keep the membership in the dark while they were negotiating with to make the settlement on paying back the PPP Loan, that’s all in the past now. The board told us that there aren’t going to be any more lawsuits and it’s over. So why won’t they share the documents? It makes the current board look like they’re hiding something and makes us think therefore there is something to hide. They are their own worst enemies because I’ve gone from someone supporting the board to distrusting them.
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01/12/2024 at 2:59 pm #3740RSF SupporterParticipant
I respectfully disagree, with the threat of litigation and the high-profile publicity seeking lawyer showing up (even though I’m told that he was informed earlier it was members only) I am guessing that the Board is now closely advised by counsel. I have confidence that the Board is reviewing all of their options and will communicate when appropriate. I’m not sure if you have ever gone through litigation, depositions, threats and intimidation but it is a terrible experience. Our Board is made up of non-paid volunteers, are spending countless hours on not only this matter but just having gone through another long-drawn-out issue. I think that you have to give them the benefit of the doubt, have some patience and let the process work.
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01/08/2024 at 11:16 am #3483roweparentParticipant
I certainly hope to be there. This is an embarrassment for our entire community. I understand the current board was not the decision-maker in applying for the PPP loan. I understand they are left holding the bag, so to speak, but they must rectify this in a manner that does not require a special assessment. We spent $200k on legal fees regarding this– hopefully the lawyers can work out a solution with the bankers and attorneys involved in the fraudulent application.
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01/08/2024 at 4:29 am #3460Longtime ResidentParticipant
Thx RSFB&R.
I’ll see you at the Golf Clubhouse on Tuesday. This is a meeting I am not going to miss and hope all my neighbors come too.
We are spitting mad at the board for how this was handled and want answers. This can’t be dumped in our laps to pay. We never asked for this money from the government. Never knew about it. Never benefitted from it as far as I can tell (certainly not the people who aren’t tennis and golf members). Never were told about the government coming after the Association for illegally taking the money. Never knew about the Association’s settlement with the government until after it was completed. The board has to come clean on a lot the past facts before they expect members to pay for one cent to fix their mess.
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01/05/2024 at 7:19 pm #3332AnonymousInactive
Just got this hard to read public posting by many people after the Star Tribune’s article about us taking the PPP Covid Help loan ILLEGALLY and then getting caught and having to pay it back. What a black eye for our community. What these people are saying about us is sadly true.
Rancho Santa Fe homeowners group illegally collected $1.5M in COVID-19 relief
byu/CreamSteeve inSanDieganWhen we meet next Tuesday Jan 9 5pm at the golf club I want to know what the board is going to do to restore our reputation! They caused this. They need to rectify it. If it’s true that the banker and lawyer told the board to apply for the loan and they were wrong, let’s get the bank and lawyer to pay us back, and put the blame on them.
The money – fines, penalties – are one thing, but the damage to our reputation is so much bigger. And it’s going to bite us in the A** when it comes to our property values.
We need to focus on reputational repair at that meeting
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