The Point at Poipu Owners Association
The purpose of a proxy is twofold:
1. To allow a vote holder to record a vote in the event they cannot attend the meeting.
2. To provide the organization with a method of establishing a quorum, without which, no business can be conducted.
The value of a single proxy is questionable, but the value of hundreds or thousands of proxies, is significant. Someone holding large numbers of proxies can make a difference when it comes to voting on matters at the Annual Meeting. This includes election of members to the board of directors, decisions concerning expenditures, maintenance fees as well as other legal, organizational and financial matters. As a deeded owner at The Point at Poipu, you need to be aware that this is a multi-million dollar a year organization that needs to be managed effectively and efficiently. The only way that you will ever have an effective voice in determining how money is spent and how the resort is managed is to form a strategic alliance with other like minded people. This is the basis for the formation of COPP – Concerned Owners at The Point at Poipu. By registering on our website, we accept the fact that you have taken that first step.
During the past week, deeded owners have been receiving their proxies and many are now asking what to do with these. The first thing that you have to keep in mind, is that they have to be returned by mail (or by internet – instructions on page 1) not later than MAR 16 in order to be valid. There are some important things that you need to know about completing your proxy:
· If you do not sign and date your proxy, it will be invalid (joint owners – both must sign)
· If you do not specify a person that you appoint to vote your proxy, then it will default to the Board of Directors (IMPORTANT - because the BOD is currently controlled by DRI, this will give control to them).
As a result of the concern just noted above, COPP would like to ask for your proxy to be filled out as follows:
1. If possible, DO NOT as it is more difficult to track what you have done. Please use the hard copy and mail it in before the deadline.
2. Please assign your proxy to a COPP representative, who will be at the meeting – ROBERT HALEM
3. Unless you have very strong preferences for a BOD candidate, leave these areas blank as Robert Halem will vote your proxy for non-DRI candidates that we are supporting.
4. FAX a copy of your proxy to 604-922-2302 BEFORE you mail it (Please fax between 9 AM and 6 PM Pacific Time)
A Short History of Maintenance Fees...
Ever since Diamond Resorts International purchased Sunterra, they have been increasing annual maintenance fees by the maximum allowed under Hawaii State Law. The result of this, is that many owners are coming to the conclusion that their deeded vacation ownership does not make financial sense or, they simply can no longer afford it. In either case, this is resulting in foreclosures when the maintenance fees go unpaid.
Foreclosed properties are then put up for sale, and DRI is there to purchase as many deeds as they can, at a fraction of the price paid by the original owners. DRI then converts the deed to points, and sells vacation intervals at a huge markup.
Furthermore, since DRI controls the Board of Directors, this plan of theirs to hijack our resort, will continue until we can muster enough votes to oust them.
Please review the data below for a two-bedroom ownership to see how quickly this could actually happen to you....
|2008||1181||18%||<- DRI takeover|