The Straw Vote Results

Sent by White, Michael (White, Michael) on 10/27/2014. This announcement was emailed to all users

Dear Spalding Woods Club Full Members,

The results from our recent straw vote on whether we sell the club are in. The club has 109 full memberships, of which 98 or 90% voted. Of the 98, 76% voted “yes” to sell the club. 89 voted to dissolve the club as opposed to rebuilding the club elsewhere.

Below are the members for which we did not receive a vote:

Bartlett Joe
Dore Noel
Hahn Brad and Tracy
Leshley - Plunk Dana & Allen
McKinney Matt and Laura
Quinn Kevin and Donna
Reddy Sundeep & Aparna
Rowland John and Carol
Sarzen Marcel and Mary
Smith Anne and Warren
Stewart Stan and Debbie

Given that the majority of full members are in favor of pursuing a sale of SWC, the Board will now focus club resources on selling the property. We will be reviewing next steps at our next Board meeting. Keep in mind that the current offer from Traton homes is $5M. Divided by 109 memberships, the gross proceeds per membership would be $45,871. After taxes (both on the club and the individual) and any fees associated with the sale, the net amount will be considerably less.

The SWC Board plans to post the election results on the club’s website. We will list the names of each member and where their vote stands on the sale. Doing this will help ensure no confusion over who our 109 full members are and where they stand on selling SWC. Until we hold the final/formal vote, members can change their vote by emailing the club. The list will only be accessible to members registered on the web site. Please let me know if you have any concerns with posting this information to the club’s site.

It truly saddens me that so many favor the money over keeping SWC; nevertheless, the membership has “spoken” and the Board and I will do our best to make sure the sales is done properly and that the final sale price is the best it can be.

Please let me know of any concerns/questions.

Michael White

SWC - President