General Manager’s Update

Dear Landings Association Members,

The time has come to vote for the required Annual Dues to help sustain The Landings Association for the next three years. As detailed in the voting packet and in prior communications, this vote is about maintaining our critical infrastructure, some of which is now 51 years old. It is not about adding new service levels.

One point to note is that our Annual Dues now make up a much smaller portion of our overall revenue stream than in the past (about 55% of total revenue vs. 67% in recent history). We have worked diligently to increase other revenue sources, from our fully leased spaces at both Marinas, to our commercial vendor passes, to the interest received from our investments.

Last year, when interest rates began to rise for the first time in quite a number of years, Finance Director Jessica Henderson worked with our Investment Subcommittee and broker to create a ladder of CDs and Treasuries, with different maturities. This allowed us to capture rising interest rates while maintaining liquidity as needed. We now have some investments with interest rates as high as 5+%. Work like this allows us to offset the needed increase in our Annual Dues. You can read more at www.landings.org/annual-dues. Then, please vote “Yes”!

Each quarter, we provide an update of progress made against the Association’s Strategic Plan. You can view this progress by clicking Strategic Plan Updates. Some highlights from the past three months include the following:

• Launching the new, digital Landings Journal that allows embedded videos and other links while saving money on printing and mailing costs
• Launching a new smartphone app, which has been installed by 86% of our community
• Launching the new Talking TLA podcast – which can be found at www.landings.org/podcast
• Finalizing plans for the project installing fiber internet to homes in The Landings
• Finalizing plans to upgrade the audio/video systems in Delegal Creek Marina’s Sunset Room and in the Association’s conference room
• Began researching and reviewing what would be required to replace the aging Marsh Tower

Remember, if I can be of help, please let me know (karls@landings.org). In the meantime, enjoy spring in The Landings!