Newsletter - Notes from the Manager

The Adelma Beach stairway is scheduled for replacement during the early spring.  During construction time the area will be closed off.  When it reopens you will receive a new combination number for access.  The stairway has a long history.  It was most recently replaced in 1975 and has been repaired a number of times.  The bluff erosion requires that we reconstruct the upper landing and replacement of the steps makes good financial, safety, and convenience sense.  We expect the new stairway to be a four-feet-wide continuation of the existing walkway--a real convenience for kayak carriers.  To see examples of the work of our contractor, Brockman Builders, who has built over 250 stairways in the area, go to http://www.beachstairs.com/ .  A geo-tech specialist has already given us a soil report that showed the area to be buildable and a request for an exemption from the Shoreline Protection Act was filed in early January

The annual meeting is normally held on the first Sunday of April.  This year, because Easter falls on that day, the meeting will be the second Sunday, April 11th.  Mark the date.  The location will be announced later.

Welcome to new owners I_Kwoan and Evan Harrison who purchased the Kimbrough home on Beckett Point Road.  You will get a chance to meet them at the party.

Financial Report

The Association has bond holdings of over $350,000 which pay an annual interest rate of 6.3%.  The values have held strong during the economic downturn but in any case the largest investments are insured and all are "A" to "AAA" rated.  The cash balances at Chase checking and Edward Jones money market total nearly $10,000 with over $5,000 in interest payments coming in February and March.  (This high liquidity is necessary to cover the costs of the Adelma stairway construction and Association expenses over the next two months.