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Building Project FAQ

Member FAQ - Building Project Postponement

What is going to happen with my assessment?
  • All assessments will continue to be collected from both current and new members as planned. The assessment will stay in the CIF Fund until needed for the project. 
What if I am not planning to be a member in 2021? Can I have my assessment returned?
  • Assessments will be collected from both current and new members as previously planned. Refunds will not be issued unless your membership ends prior to April 15, 2020. The first $500 is non refundable.
What is the outlook for another source of project financing?
  • We are working on financing with two other banks and gathering the documents that we will need. 
If we can't find financing for this project what will happen?
  • The pool is in need of a new roof, trusses and some other repairs. If financing is unavailable to complete the full construction, we will complete these crucial repairs of the clubhouse.
Is the Board of Trustees considering asking members for more money?
  • We are not asking members for more money for this project.  
What will we do to ensure a safe and comfortable season with our aging facility?
  • Our facility will be safe for members to use and enjoy this coming season. 
How can I get involved?
  • Contact ovsc2020@olympicview.net. Members can join the building committee or help with any additional fundraising that will happen in the 2020 season.
What was the reason the bank gave for rescinding the financing?
  • Unknown to us at the time, our banker left the company and our account was not transferred. After discovering that our banker was gone, we pushed as hard as we could to get the deal done, but ultimately came up short on time.   The bank requested some additional documents from our accountants which they were not in a position to provide in time for the financing to be ready for the 12/2 start date.