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New Business

New Business. 1. Flood of 12-Sept-2013. Unprecedented, unexpected and certainly life changing for many Timeline of Facts Immediate Needs Future Fund Assistance. 2. LTRA Flood Timeline. Flood strikes mid-September…no egress from the neighborhood.

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New Business

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  1. New Business 1

  2. Flood of 12-Sept-2013 • Unprecedented, unexpected and certainly life changing for many • Timeline of Facts • Immediate Needs • Future Fund Assistance 2

  3. LTRA Flood Timeline • Flood strikesmid-September…no egress from the neighborhood. • Everyone pulls together to solve problems, no critical issues. • Water recedes slightly, NG arrives on Saturday for evacuation. • FEMA paid(?) for an emergency road ($168K total, I have heard) directed by Fire Chief Hoffman…THANKS! • 2-3 Weeks of settling…getting back to normal. • Several Calls to FEMA: (2-3 Weeks) • Can we use FEMA IA for funds to fix this private road? • What about the LTRA’s responsibility for the road? • What should be pursued now? • “You’re special…please visit a local disaster center for advice.” • LTRA is classified as a Small Business after a “sit-down” at the Disaster Center. • Registered, inspected, loan application in and waiting for a response. • We also turned to Larimer County with key questions: • How does the Little Thompson Neighborhood move forward? 3

  4. LTRA & Larimer County Q: How is Stagecoach Trail dedicated at the damaged area? A: In the X-Bar-7 Subdivision Section 25, that is a publically-dedicated road. Q: Does a FEMA PA funding strategy through Larimer County look feasible at this stage? A: We are waiting on a reimbursement decision from FEMA thru PA funds. Q: If a "yes" decision is made about getting a reimbursement from FEMA for work done on Stagecoach Trail by Larimer County, when would this actual repair take place? A: No time table. We are working on priorities…you are not forgotten…sit tight. Q: Would performing a low-cost, but effective "winter fix" to the road now be prudent for our neighborhood if there is an anticipated delay of decision or work? A: Absolutely…we know there is an immediate need. We are telling all of our neighborhoods, like yours, to do what’s necessary until we hear from FEMA. Q: If we execute a "winter fix" to the road now, would there be any chances for reimbursement from FEMA PA funds through Larimer County at a later time? A: Yes…this is possible (slippery answer). Please document everything spent along the way to have available when that possibility arrives. Q: Do you have any suggestions for us with the information you have today? A: Nothing we can think of…please check back often. Does this mean they (LC and FEMA) are accountable but not responsible? 4

  5. LTRA & SBA Q: How will our application for a loan be executed? A: The LTRA must submit the following information for loan consideration: 1. A complete recorded copy of the Conditions, Covenants, and Restrictions (CC&R’s). 2. A complete signed copy of the By-Laws. 3. A complete copy of the Articles of Association. 4. A copy of the resolution duly authorizing the association to apply for an SBA loan. 5. A complete list of names, addresses, and telephone numbers of members / owners and directors. 6. Complete copies of the organization’s three most recent tax returns or a copy of the organization IRS tax-exempt certification and complete copies of the organization’s three most recent annual reports/profit and loss statements. 7. A current Balance Sheet and Profit and Loss Statement dated within 90 days of the application including a Schedule of Liabilities. 8. Complete copy of the master insurance policies in effect as of the date of the disaster along with copies of any recovery settlement information received to date. 9. Master deed for common areas containing area legal description. 10. Complete copy of any Declaration of Condominium, Association, or Easement. 11. Specifics on any special assessments passed by the association related to disaster repairs. Q: What agreement is put into place to repay a loan that the LTRA accepts? A: We require a “special assessment” to be passed by the membership in an amount and rate that adheres to the repayment terms. Do we just do this on our own and pass an LTRA special assessment without the interest? 5

  6. LTRA Progress / Plans • Survey – Complete • Define Easement & Determine Road Placement. • Relocate Poles – In Progress • Century Link is moving the poles soon. • Bid out a Winter Fix – In Progress • Finding someone available. • How much can/should we accomplish? • Is it possible to get a “winter fix”? • Keep up Communications with Larimer County • The LTRA and others will keep at it. • Very likely next spring for any actions. • Decide on Loan / Special Assessment Need • Do you want to pay interest or not? • How important is this repair to everyone? • FEMA grants remote chase through SBA. • Determine Lot 34 Clean-Up • Owned by the LTRA. • Station 2 lease agreement. • Likely get through the winter first. • Community volunteer effort or contract? • Document Everything, Period! 6

  7. Special Thanks Lyons Firemen – Dave Roth, Glen Shanahan, JJ Hoffman & Crew Robert’s Excavation, Terry Swink, Josh Buster, Leon Milacek, Merle Smith & Many Others – Thanks for the emergency road! FEMA – Payroll Reimbursement? Deirdre Daly and Dawn Hagan – Information Specialists Fellow Board Members – Craig, Jan, Cheri, Tom Officers – Sandi & Anne Last, but not Least…Neighbors 7

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