2018 Olmos Tower
Capital Projects Loan Ballot Results
Capital Projects Loan Ballot Results
Thank you to all who turned in ballots by the Wednesday May 16, 2018, due date.
With a quorum, the loan vote passed.
67,360 sq ft voting Yes (87%) and 9,636 sq ft voting No (4 units voted NO)
Olmos Tower has 103,257 sq ft of Owner Space and 40% (41,303 sq ft) is required for a quorum.
(Votes validated by the accounting firm of Anderson, Johns, and Yao, CPA, PC.)
With a quorum, the loan vote passed.
67,360 sq ft voting Yes (87%) and 9,636 sq ft voting No (4 units voted NO)
Olmos Tower has 103,257 sq ft of Owner Space and 40% (41,303 sq ft) is required for a quorum.
(Votes validated by the accounting firm of Anderson, Johns, and Yao, CPA, PC.)
The Board thanks the Common Space Committee members for all their hard work in bringing this project to reality. Also thanks to the Owners who took the time to voice their requirements and opinions on this project over the past year.
Ballot for the 2018 Olmos Tower
HOA Board of Directors
HOA Board of Directors
The approved ballot authorizes the Olmos Tower HOA to take out a $525,000 loan.
The loan finances both the required resurfacing of the Olmos Tower roof and the Owner-requested common area renovations to include first floor remodel (lobby, new social area, doorman space, staff locker room), new floor-by-floor hallway carpets, and initial upgrades to both the fitness center and the two guest rooms.
The loan is to be paid back in full in 10 years or sooner with no Owner assessment and no increase in the capital portion of monthly HOA dues for loan repayment.
The loan finances both the required resurfacing of the Olmos Tower roof and the Owner-requested common area renovations to include first floor remodel (lobby, new social area, doorman space, staff locker room), new floor-by-floor hallway carpets, and initial upgrades to both the fitness center and the two guest rooms.
The loan is to be paid back in full in 10 years or sooner with no Owner assessment and no increase in the capital portion of monthly HOA dues for loan repayment.