News from the Board 6/14/24
Dear Members,
The results of the Special Meeting held on June 13, 2024, regarding the Bridge Bond are outlined below.
I am pleased to report that we had an excellent voting turnout, with 293 of 348 eligible voting members having voted.
The results of the vote were as follows:
In favor: 172
Against: 121
Accordingly, the motion PASSED.
We will keep you updated on the next steps related to the Bridge Bond.
Warm regards,
Adam Zubek, GM/COO
Dear Members, Over the past two months, Management, the Board, the Finance Committee, and the Capital Planning Committee have been meeting regularly to finalize a proposal that will fund the two major projects ahead: the Golf Course renovation in 2027 ($17 million) and the Clubhouse restoration in 2028 ($16 million). In the coming weeks, Adam and I, along with a small support team, will begin hosting small group member meetings to share these plans, review the past 18 months of financial results, discuss proposed by-law amendments, and outline the offer received from a member group interested in purchasing the Club. Please click here to view a summary of the Board/Finance Committee-approved plan, along with a comparison to the purchase proposal. These documents provide an outline of the presentations, which begin in earnest next week. The full presentation with attachments will be available on the Club website by early next week. In the meantime, the 2024 audited financial statements, along with updates through July 2025, were sent on October 15, inclusive of an explanatory summary. Click here to view the communication. Thank you for your patience and continued engagement. We look forward to sharing these important details and discussing the future of La Cumbre together in the weeks ahead. To register for one of the small group sessions, please click here . Warm regards, Tracy Jenkins Board President La Cumbre Country Club
Governance Committee Update
Dear La Cumbre Members, Next week, the Board will be meeting to tackle the important topic of how to fund our capital needs moving forward. As part of this due diligence, we had received an expression of interest regarding the purchase of the Club. To better understand the optionality, the Board has had additional conversations with other interested parties. The Board is actively engaged in long-range financial planning to ensure that we can sustain and elevate the Club for generations to come. As part of this process, we are exploring a wide range of funding options to support the significant capital investments our Club will need over the coming years. This includes traditional approaches like capital dues, transfer fees, assessments, and loans. In the spirit of good governance and due diligence, the Board is also gathering information about alternative funding avenues, including outside capital interest. To be clear: No decisions have been made No offers are under consideration The Board has not authorized any action toward selling the Club What has occurred are preliminary, exploratory conversations intended to fully understand what options may exist. This process is about building knowledge so that if we need to make major financial decisions in the future, we do so from a well-informed position, always with the best interest of the membership and the long-term health of the Club in mind. We understand that seeing outside individuals on the property may have raised questions, and we regret any confusion this may have caused. Our commitment remains: Transparency with our members Adherence to sound governance principles A deliberate, member-centered process We will continue to keep you informed as these discussions evolve. There will be no path forward on any major initiative without full Board consideration and member engagement. Thank you for your understanding and for your ongoing dedication to the La Cumbre community. Tracy Jenkins President, Board of Director sLa Cumbre Country Club
