FW: [Mesaterracehoa] $250,000 Loan to HOA from Zongfu Li

 

 

From: Scott Gordon via Mesaterracehoa <mesaterracehoa+scott_at_gordon.bz@gaggle.email>
Sent: Wednesday, May 10, 2023 5:03 PM
To: Mesaterracehoa <mesaterracehoa@gaggle.email>
Subject: [Mesaterracehoa] $250,000 Loan to HOA from Zongfu Li

 

Zongfu:

 

Care to inform the homeowners of your decision to loan the HOA $250,000 at 7% interest just to pay a portion of legal fees with no funds being spent to repair/address open HOA Issues? 

 

This is on top of the $40,000 you have already loaned to pay Michael Carmel's first invoice.

 

Per Michael Carmel the loan was already discussed in an executive session earlier this week.  Per his filing the loan was already decided on.  He didn't even wait to file his motion with the court for the official open Board meeting to take place.

 

HOA sent a notice about a meeting yesterday with no agenda to the Homeowners.  Is the Board hiding the fact that they are going to execute a loan on behalf of the Homeowners for $250,000 and Zongfu Li, President of the HOA is going to sign off on his own loan to the HOA?

 

The Board, who has a fiduciary duty to the homeowners believe this action is in the best interest of the community?

 

Definitely news worthy…

 

Scott

Canyon Ridge Properties, LLC.

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