PPP Loan - Rancho Santa Fe Post

BY KAREN BILLING JAN. 14, 2024 4:06 AM PT The Rancho Santa Fe Association is looking to move…

Taking Issue with Phil Trubey's Legal Interpretation
It is always dangerous when non-legal people start quoting the law. They rarely get it right and Phil Trubey is no exception. Mr. Trubey would have you believe that the Board of Directors does not owe a fiduciary duty to its members. That is, quite simply, wrong. The California Courts, in recognition of the increasingly important role played by private homeowner’s associations, have imposed a fiduciary duty owed by such associations to their members. See ⎁Cohen v. Kite Hill Community Assn. (1983) 142 Cal. App. 3d 642. – Almost30

We revisited, after 10 years, Osuna Ranch.
My take and my wife’s, for what it’s worth, would be that it is definitely under utilized, but with a very little amount of promotion, it could be a highly desirable place for weddings, bar-mitzvahs, quinceañeras, power lunches, corporate get-togethers. etc. – and could very easily be monetized with a relatively small amount of focus – while, keeping its acreage open and accessible to the privileges of our community. My grandmother said to me many years ago “they print money, but they’re not making land anymore." She was so right. I think it would be foolish to not utilize this asset.

It’s easy to sell and take it off the books, but its true value is in its history and the fact that it is owned by the covenant, a huge plus. It might be time to make it “sit up and bark" a little bit and let people see and understand its history. Just saying. – dblltd

Tag: PPP Loan

RSF Association board approves plan for PPP loan settlement repayment