There's a concern about the plans for the disposition of the doorway fee that UCO is going to be receiving when the cable contract is finally ratified. It amounts to several million dollars whichever company the village decides to engage.
Where does that money go? and what is the best way to handle it ? The last time CV got a large gateway fee was when Comcast got the contract eight years ago. George Lowenstein, the President at the time, put the money in a reserve account and used it to lower the fees that residents pay every month. The advantage of doing that was not only the lowering of monthly bills, but it also avoided paying taxes on it as the money was returned to the residents over time. It was a pretty cool way to handle it. The budget for the year , which defined the financial obligations of the village was accepted in the usual way, then each month money was taken from the reserve account set up by George and used to keep condo fees lower than they would have been without it.
David Israel's intentions to add it to the slush fund of money that UCO maintains leaves the disposition of the money open for UCO to use it for whatever they like without restriction or assent from the residents, and will put us in the position of having to pay taxes on it. There's no mention of using it to keep condo fees down.
Just how the doorway fee is to be used should be clarified by the delegates.