Friday, December 16, 2016

#Transparency▶ #SocialCurrentSee®



Search▶ HOA Lawyers
While it's true that you find more than a million links for the topic above at the sites searched, you may not need to go any further than your neighborhood HOA to understand the powerful link between your association and the legal counsel they have hired▶ It also won't take you long to realize that the very same legal counsel is the primary roadblock to real transparency within your association, or at least that is the observation of this HOA citizen journalist.





https://goo.gl/G4uGDn
If you read the a series of search results and archive on topic (#transparency), the question of how much or how little transparency exists in the typical common interest development (aka HOA) is answered only by personal experienceAs for our Inland Empire, Southern California HOA, the #transparency experience is uneven, at best In California, the complicated Davis-Stirling law (DSL) specifies these topics only for private, executive session by any HOA Board▶ Hence, these guidelines serve as a certain moderator that permits some #transparency 

1.  Legal Issues. Boards may go into executive session to “consider litigation."
2.  Formation of Contracts. Boards may consider matters relating to the formation of contracts with third parties.
3.  Disciplinary Hearings. Boards should meet in executive session for all disciplinary hearings. The accused member is entitled to attend the executive session for that portion of the meeting dealing with member's hearing.
4.  Personnel Issues. Personnel matters which include, but are not limited to, hiring, firing, raises, disciplinary matters and performance reviews.
5.  Payment Plan. Board may meet with members in executive session to discuss requests by delinquent members for payment plans.
6.  Foreclosure. The decision to initiate foreclosure shall be made only by the board of directors of the association and may not be delegated to an agent of the association. The board must approve the decision by a majority vote of the directors in executive session. 

So, what could possibly cause a question about #transparency?▶ Easily, #1 (Legal Issues) in the list usually is the typical cause for perceived transparency conflict, but the DSL defines those "legal issues" as actions to "consider litigation"  Not all actions between the board and legal counsel are about litigation

Early on in our current HOA experience that began in November 2011, we attended an open forum in which the HOA legal counsel was present when a contentious issue was on the agenda  The attorney made it clear that he presence was as representative for the board and not for members of the association  On several other occasions, that same legal counsel has made responsibilities clear  HOA attorneys are not employed by and do not act on behalf of homeowners

Rarely do our HOA attorneys attend general, open meetings of the association  Usually, attorney presence is only arranged by the board when a contentious issue is on the agenda  In some ways, this is a cost control issue, but it proves that the #PRIVATOPIA nature of HOAs brings a basic presumption that transparency issues are bound to arise

No one would suggest that HOAs, which are truly nonprofit corporations, function bare of legal counselBut the presence and role of lawyers, whose fees are paid by homeowners dues, will inevitably create #transparency issues that are the natural outcome of HOA management











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Circa 2006, we started here on 
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▶ http://altacities.com 
▶ http://socialcurrentsee.com 
▶ http://canswerist.com 
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ALTACITIES® by social media archivist ALTALOMAN® is a web moniker for content created and archived in the 'social current see' (SCS) for and about the subject of COMMON INTEREST DEVELOPMENTS, the residential communities of some 68 million people in the USA.


ALTACITIES®, an acronym for "ALTERNATE CITIES", is the web moniker for the neighborhood of sites, blogs and locations created and managed by ALTALOMAN, in reference to our journals and blogging activity when Dee Dee and I were residents of Alta Loma, part of Rancho Cucamonga in Southern California. Of course, we have moved on but these ALTACITIES® remain.


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®which is why the URL http://canswerist.com

Browsing or search engines brought you to this ALTACITIES location and might take you back again to the site that started this journey


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Common Interest Developments
▶more than HOAs ▶POAs ▶CIDs

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Saturday, December 10, 2016

#EQI ▶#SocialCurrentSee®



Re: What is the average price of a home in California?
▶Bingo, bango, bongo or just BING!▶ https://goo.gl/DPx6SA


Re: California Earthquake Authority
▶Bingo, bango, bongo or just BING!▶ https://binged.it/2gb5lAM


https://goo.gl/DPx6SA
The links between these two search topics (above) may not be readily apparent, but the question arises since it is true that the "authority" has $12 billion in capacity to cover claims for the Big One (an earthquake), but the question remains: How many dwellings might that represent?  The $12 billion claims coverage capacity is authentic because the source is the CEA, aka "authority" (see LINK below).
http://bit.ly/2ggzIWj

The first search link above explains that the average home price in California is $379,000, which is 7.6% lower than the average sold price in California ($410,000). If you calculate that the actual replacement cost for an existing dwelling is about 80% of market value (in normal situations), then the average replacement cost for a typical California home would be $303,200.  However, in a time of disaster and emergency, the cost of building materials and labor will escalate, pushing homebuilding costs well beyond normal levels.

The second search link above was intended to find news and #SocialCurrentSee regarding a public-private partnership in the state capital The location, K Street in Sacramento is well occupied by the HQ offices of many state government agencies, including the California Earthquake Authority (CEA) at #801 Suite 1000  As is true of virtually all state government operations, the easiest way to learn details about CEA is to visit their WEBSITE http://www.earthquakeauthority.com
http://www.earthquakeauthority.com

Relatively new to the website is an earthquake insurance (EQI) estimating tool, and online calculator, that is due to help consumers determine EQI rates on their dwellings Specifically, the CEA calculator is at this LINK https://goo.gl/V1EMFV
https://goo.gl/V1EMFV

Caveat The calculator is only an estimating tool and homeowners are advised to work with licensed property insurance agents for the purchase of EQI  In fact, if you live in a common interest development (aka HOA), you are allowed only to purchase EQI for your personal effects and the interior space of your dwelling alone, unless you reside in a single-family home
  So speaking of condominium properties, the external property in a condo development may be insured with a CEA policy, but only if that policy is "master coverage" purchased and owned by the HOA https://binged.it/2h6JYVF 
http://bit.ly/2gbb89g




This technicality is not easily or fully explained at the CEA site, hence the admonition to speak with a licensed property insurance agent before making any EQI purchase  A LIST of CEA participating insurers is found HERE http://bit.ly/2gbb89g

http://www.earthquakeauthority.com



▶For future updates on specific common interest developments like these, bookmark these ▶LINKS

▶ #HOAs Today ▶#SocialCurrentSee®▶ https://is.gd/yYayK6 
Flip②▶ #ALTACITIES▶ http://flip.it/uWZGhc
#SocialCurrentSee® for more
▶ #HOA news▶ http://altacities.com


AmazonCrossing®▶ #SocialCurrentSee®▶ Congressional Pages


SOURCE
  • Following the unprecedented losses from the 1994 Northridge earthquake, many insurance companies either stopped or severely restricted selling new homeowners' insurance policies in California. The insurer response was largely due to state law that requires insurers to offer earthquake insurance when selling or renewing residential property insurance.
  • In September 1996, legislation to create the CEA was approved by the
    California State Legislature. On November 26, 1996, the State of California Insurance Commissioner certified that all statutory conditions necessary for the CEA to become operational had been met, and the CEA began writing earthquake policies on December 1, 1996.
  • The CEA uses its available capital (net position) to leverage approximately 
    $11.7 billion in claims-paying capacity at December 31, 2015. The CEA’s claims-paying capacity is determined from the CEA’s available capital, risk-transfer coverage, available letters of credit, debt, and post-event prospective participating insurance company assessments.
  • The CEA had 879,537 policyholders at December 31, 2015, most of whom
    insure single-family dwellings through the CEA. The CEA offers a basic residential earthquake policy to homeowners, which includes coverage for the insured dwelling and limited coverage for contents and loss-of-use if the residence is uninhabitable due to an earthquake. The CEA also offers policies to condominium unit owners and renters. For an additional premium, CEA policyholders can significantly increase insured limits on contents and for loss-of-use, and homeowners can lower their CEA policy deductible from 15 percent to 10 percent.


So, given the estimation of $303,200 to rebuild the average California home and the CEA total claim capacity of $12 billion, the results show that 38,936 California could possibly be rebuilt with the claim-payment capacity that now exists in California.  According to the USA Census Bureau statistics for 2010, there were 12.5 million occupied residential dwellings in California during that year (units owned and rentals).  Regrettably, then, the coverage capacity for CEA funds represents .00311 percent of all California residents, including owner-occupied and rentals.  Of course, the percentage is even smaller than this when 2016 data becomes available https://goo.gl/QAZWjA

▶ Given the publicity on CEA, we know the 10-year-old partnership is striving hard to enlist new subscribers.  Judging by the numbers to date, the task looms as a BIG endeavor.


1  2
MORE SCS * ▶ 
What does $12B Mean?
*  = #SocialCurrentSee
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Circa 2006, we started here on 
Blogger, then advanced to social media 
▶ http://altacities.com 
▶ http://socialcurrentsee.com 
▶ http://canswerist.com 
▶ http://leavetheword.com 
▶ http://browseonpurpose.net








ALTACITIES® by social media archivist ALTALOMAN® is a web moniker for content created and archived in the 'social current see' (SCS) for and about the subject of COMMON INTEREST DEVELOPMENTS, the residential communities of some 68 million people in the USA.


ALTACITIES®, an acronym for "ALTERNATE CITIES", is the web moniker for the neighborhood of sites, blogs and locations created and managed by ALTALOMAN, in reference to our journals and blogging activity when Dee Dee and I were residents of Alta Loma, part of Rancho Cucamonga in Southern California. Of course, we have moved on but these ALTACITIES® remain.


Designed for Mobile 
 iPhone  iPad  iPod iTunes

in affiliation with the sites and blogs
created and archived by ALTALOMAN,
aka CANSWERIST
®which is why the URL http://canswerist.com

Browsing or search engines brought you to this ALTACITIES location and might take you back again to the site that started this journey





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The ONLY sites and 
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SOCIAL CURRENT SEE ® for
Common Interest Developments
▶more than HOAs ▶POAs ▶CIDs

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aka CANSWERIST ®
All Rights Reserved

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