KING'S GATE CLUB
FEBRUARY BOARD OF DIRECTORS
MANAGERS REPORT
02/16/11

• 241 Ave of Barons, Fels house – Last Fall the Club began foreclosure proceedings on the residence at 241 Avenue of Barons. On January 17th, the Court authorized the appointment of a Receiver to manage the property until the foreclosure action could be completed. The Court accepted King’s Gate Realty with Cheryl Patricca, Broker as the Receiver. Cheryl’s first task was to get the property into shape for rental. Her goal was to have everything done by February 1st. The slide show shows just how difficult the project could be. With the help of numerous miracle workers a.k.a. volunteers, all of the work was completed by February 3rd. The first renter moved in over the weekend of Feb 4th. When the foreclosure is finalized the Club will have a temporary title to the property and can continue to rent the unit. There is a first mortgage outstanding on the property and when the bank does foreclose on their mortgage, probably three or four years from now, they will take ownership of the property and KGC will no longer be able to manage it. Presumably, at that time the Club will be able to negotiate with the bank to purchase the unit. This action that the Club has taken is the only way to recover past due maintenance fees, legal expenses, the cost of refurbishing the unit, etc.


• Lake Report: On Monday, February 13, 2012, Aquatic Systems began the first treatment of our lake. This treatment included application of a combination of herbicide, algaecide and blue dye. The purpose of the dye is to diminish the effect of sunlight in algae production. The immediate affect was a die-off of the filamentous algae with a minimal noticeable odor. The algaecide that they used was a chelated form of copper that is not as toxic as regular copper sulfate. In two weeks Aquatic Systems will review the lake’s condition and if needed will apply a second treatment. A part of their proposal is the addition of Triploid Grass Carp to assist in the control of submersed aquatic weeds.


• The SolarBee equipment located near the Gazebo stopped working last weekend. Apparently, the heavy rains on Friday evening got into the electrical box and caused a power failure. Bill, in a boat with a cell phone, working with a technician with SolarBee in North Dakota were able to re-boot the system and all seems to be working fine today.
• It is that time of year again for deciding on Summer Projects at Kings Gate Club. If anyone has an idea for a project this summer, please let us in the office or any of the directors know about it. We want to publish a list of projects before our seasonal owners go north for the summer.

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