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March 2009
We do not make jokes, we simply watch the LA Times, the Orange County Register and CID/HOA board of directors and report the facts!
LETTERS
Demand
for Full Scale HUD Investigation into Leisure
World/Laguna Woods Affairs
3/02/2009 9:00 AM
All homeowners of Leisure World/Laguna Woods Village should demand a full scale investigation by HUD per the
Regulatory
Agreements. Remember there are two(2)
Regulatory Agreements, one (1) between Laguna Hills Mutual
No.One
(United) and HUD and the other Regulatory Agreement
between
Golden Rain Foundation (GRF) and HUD.
The Regulatory Agreement between GRF and (HUD) affects
every
homeowner in Leisure World/ Laguna Woods Village. Item number 5 states:
"The Foundation (GRF) SHALL NOT
go
into Voluntary Liquidation; carry into effect any plan
of
Reorganization
of the Foundation (GRF OR effect ANY CHANGE whatsoever in the CAPITAL STRUCTURE".
GRF has SOLD common area land and has a Plan to
Redevelop
Leisure World/Laguna Woods Village and CHANGED the name Laguna World Laguna Hills
to Laguna Woods Village thus breaching the Contract between GRF
and
HUD.
The $95,000,000 budget for 2009 and the PCM Management Fee increase of $105,000 plus PCM's Incentive
Plan
of $450,000 per year is obscene. It is time all Board
members
step up to the plate, carry out their fiduciary duties
and
demand HUD have a full scale investigation of this
Senior Citizen Homeowner Association as per the Regulatory
Agreements.
Noni and Corkey Eley
2401-2E Via Mariposa West
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