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Thursday, February 09, 2012
Poted By CotoBlogzz
of Leisure World/ Laguna Woods Village is one of the largest Managing Agents of Common Interest Developments in the U.S.A. PCM has been the managing agent in Leisure World Laguna Woods, Ca. since 1964. Professional Community Management, Inc. a for profitcorporation was a Spin Off, at the request of the Federal Housing Administration (HUD), from the non-profit corporation of
the Cost Plus Contract increases each year are staggering. There is no incentive for PCM to cut cost and there are a number of PCM employees retiring each year which as long as PCM is the Managing Agent this community pays their Pensions. This Common InterestDevelopment can no longer afford PCM and certainly not a Cost Plus Contract.
Jerry Storage, General Manager
Third Laguna Hills Mutual Directors
United Laguna Hills Mutual Directors
Golden Rain Foundation Directors
Re: Change in the Structure and Management Contract of LeisureWorld/
Laguna Woods Village .
Leisure World Laguna Hills built in 1964 -1982 is the largest non-profitSenior Citizens Common Interest Development in the United State of America with 18,000 to 20,000 residences.
Professional Community Management, Inc. (PCM) the managing agent
Leisure World Foundation which sponsored, merchandised and administered
Leisure World Laguna Hills from 1964 to 1972 when PCM was incorporated
and became the for profit Managing Agent.
Professional Community Management, Inc. (PCM) knows Leisure World/
Laguna Woods Villages governing documents (Original Trust, Articles of Incorporations, Declarations (CC&R's), Regulatory Agreements and Bylaws).
PCM has written and administered these documents to the homeowners of
Leisure World/Laguna Woods Village for over 46 years and yet PCM continues
to state GRF and United Mutual have NO CC&R's WHY?
GRF and PCM has sold Common Area Land (San Sebastian and El Toro Water District) against California's Davis Stirling Act #1359 and Leisure World/Laguna Woods Village CC&R's, Article VI.
Golden Rain Foundation set aside Five (5) Million Dollars to demolish and build a 17,863 square-foot Village Green Golf Starter Building without the Vote or Approval of the homeowners, who pay the bills. To date the total cost of thisbuilding has not been given to the homeowners. The "88" CC&R's, Article IV, Section 8 states: "The Mutualsmay, with the approval of the Architectural Control Committee, construct new improvements or additions to the Common Area or
Demolish existing improvements, provided that in the case of any improvement, addition or
demolition involving a total expenditure in excess of Five Percent (5%) of the Gross Expenses of the Mutuals for the year in which such improvements, additions or demolition isContemplated, the written consent or Vote of at least fifty-one percent (51%) of the Owners in the Project or Related Projects as to the maximum total cost therefore shall first be obtained."
The changing of the Guard, the Management Contract and the Structureof Leisure World/Laguna Woods Village is a must. Golden Rain Foundation (GRF)
has taken over the leadership of this community under the advice of PCM, this
is wrong. GRF is the Trustee of the Trust which holds all the money. assets and
land in Trust for the Mutuals (Third, United and Fifty). The Mutuals are the
Trustors of the Trust. The Mutuals pay GRF to manage, operate and maintain the Common Area Facilities(Clubhouses, Golf Course, Buses, Stables and ect.) . GRF
as Trustee SHALL follow the Terms of the Trust which they have neglected to do.
The Cost Plus Contract PCM has with each of the four corporations of
Leisure World Laguna Woods where the homeowners pay all of PCM's Costs is obscene. The homeowners pay allof PCM's 1,000 employees wages and benefit packages( Health Insurance, Unemployment Insurance, Social Security, Pensions, 401-K and etc.) plus all of PCM's office expenses and housing of their employees. This has been going on for 46 years. No wonder this senior citizens homeowners association has a $95,000,000 Budget, larger than surrounding cities. The costs of
Wake UP!! Leisure World/ Laguna Woods, as well as the whole Country,is in a financial mess. PCM and the four boards (GRF, Third, United & Fifty) had better get realistic. If you do not understand Budgets, Economic and Finances you have a large source of people in the community who could help you. Ask and you shall receive. Don't continue to Vote for something you do not understand or agree with. Each Mutual and GRF have their own Attorney's, they should give you the correct information you need under the law to perform your fiduciary duties.
Noni and Corkey Eley