Voting results from Annual Members Meeting

On Saturday, August 9, 2008, the Coosawattee River Resort Association held its Annual Members Meeting. During the meeting there were two major issues that were voted on by the membership of the association.

1. A bylaw amendment that would change the method that assessments for all timeshares are calculated. The proposed amendment stated that if passed, assessments for timeshares would be calculated at 20% of the highest assessment rate for residential lots. The amendment also stated that if passed, the owners of timeshare intervals would have access to the property and amenities only during their week of ownership but would have the option of paying a full assessment amount and having access to the amenities all year long. The amendment also stated that if passed that voters paying 20% of the highest assessment rate for residential lots would also have their voting power reduced to 1/5 of a vote. This amendment passed; 2,119 voting in favor of the amendment, 39 voting against the amendment.

2. A recommendation from the CRRA Board of Directors and the Beaver Forest Chalet Villa Owners Association Board of Directors that the two associations merge with the Coosawattee River Resort Association Inc. being the surviving corporation, taking over the responsibilities of the villa operations and management. The vote was 2,121 in favor of the merger; 43 against the merger.