Here are the facts about Mr. Lordi and his opposition group. They are very disorganized and do not have a plan. At the first meeting of the board in January, they were given an opportunity to present their case to the assembled group, it became very clear when they couldn't answer the most basic of questions about financing or process. They have asked the board to put on hold the 2 years of effort to get the process to this point while they ATTEMPT to determine what finance options MAY BE available. They presented 12 objections to the purchase and sale agreement, all but 1 of those was addressed in the purchase and sale agreement. The 1 that was not was the 8 honorary memberships, as Michael Smith said in explaining the contract, if anyone would vote no on the basis of that one issue is looking at the issue on a very short term perspective.
Here are the things the opposition group fails to understand:
Not many residents are willing to give up the $10 million reserves that have taken years to build up even if it were legal, in addition, it would almost certainly at some point in the future guarantee an assessment of some sort in the future.
The RD is the only vehicle know to us that provides for a roughly $200,000 benefit from being tax free.
They have failed to recognize that any commercial loan requires collateral and, in some cases, personal guarantees and down payments. When asked what the first 5 things they would do if the referendum failed they had no answer.
The RD guarantees payment by virtue of liens on property in a commercial loan there is no way to guarantee individual payments.
It would surely cost more than the $1200 on average per household, so despite all the cost that they have double counted to make them look inflated, out total costs today remain no higher than those that we presented at the time the RD was formed.
In summary, this is our one and only opportunity to complete a transaction and this is the only viable option for doing. The opposition group has no idea how much it would cost upfront, no idea how they would govern and no idea how to go about it. We don't know who or how many of them they are and we have no idea who the leader is and who is advising them. If your neighbors want to place the future of UPCC in their hands, it is a choice they will have to live with. The final thing I would say and it may make some people happy, if the referendum does not pass, we will be back to ground zero. I, for one, would resign from the board and sell my house before it was drastically reduced in value. Thank you for your interest and concern.

Bob Wood
Board Chair UPRD