Key Issue Vote March/April 2020

Dear POENB members,

Over the past few years, the Board has worked very hard to make everyone aware of the deteriorating 45-year-old bulkhead at POENB’s Valley Grove beach. The protective wall at our western shoreline is far beyond its life expectancy of 20 years, making it critical that we replace it now.

Through community fundraising efforts, combined with conservative budgeting, the POENB Board has accumulated a surplus of $70,000. In our approved 2020 budget, we set aside this $70,000 in reserve. Now, we are asking permission to spend the $70,000 towards the Valley Grove Bulkhead Reconstruction Project.

The scope of the reconstruction project includes:

a.    Replacement of the wall (with current estimates ranging from $92,000 to $115,000);

b.    Reconstruction of the stairs (estimated at $20,000); and

c.    Remediation of any disruption to the property resulting from construction (estimated at $5,000).

As a Board, our strong desire is to keep project costs as low as possible, and we will diligently work towards that end. We are requesting approval from the membership to spend up to $150,000 on this project. If we can come in under $150,000, we will absolutely do so. However, we also recognize that construction projects have the potential to encounter unanticipated issues which may add time or work to the project, thus increasing project costs. We feel that $150,000 is the minimum number we can request and still retain some flexibility to respond to unforeseen construction-related issues once the project has commenced.

In order to finance any budget shortfall between the $70,000 we have set aside and the final cost of the project, we are requesting the right to borrow from Association members (only members in good standing), on an as-needed basis, in the form of Promissory Notes, with a minimum note issued of $5,000, to be paid back over a five-year period. We have been advised that the notes will have a modest 4% return with no early payment penalty for the Association. Our goal as a Board would be to pay these funds back to the members as soon as possible.

The POENB Board hopes that the community will approve this important package of Key Issue Votes to allow the much-needed Valley Grove Bulkhead Reconstruction Project to move forward in 2020.

Please click here to view the Notice of Key Issue Vote with a description of each question that will appear on the ballot.

Voting Procedures:

  • Beginning on Monday, March 30th at 9:00am and concluding on Friday, April 3rd at 12:00 midnight, the POENB Board will conduct an online “e-vote” (electronic vote) on three Key Issues which will allow our Association to move forward with the Valley Grove Bulkhead Reconstruction Project. Please watch your email for instructions on how to cast your electronic ballot online.

  • We will also accept paper ballots from POENB members who do not have access to email. If you know a POENB member who needs a paper ballot, please call Ryan at (917) 435-4760 with the name and address of the member where it should be dropped off. Return instructions will be printed on the ballot.

  • POENB members in good standing will be eligible to cast a vote. All 2019 POENB members in good standing are eligible to cast an e-vote on this Key Issue through March 31st. All 2020 POENB members in good standing will be eligible to vote starting on April 1st. The Issue shall be carried by a simple majority of the ballots cast—one vote per household, please.

  • We are asking all POENB members to review the Notice of Key Issue Vote and contact us at with any questions. The Notice includes a detailed description of the three Key Issues and has been updated to reflect the new voting procedures. Please also check our Eaton’s Neck News Facebook page where you can comment and ask questions regarding the project.

  • We will hold an online informational Q&A session on Sunday, March 29th at 7:00pm. At this time, we will answer any questions that have been submitted via email or Facebook. Please watch your email for instructions on how to join the online Q&A session.

  • We will hold our April POENB meeting online on Friday, April 3rd at 7:30pm. The Fire House is closed to the public so there will be no gathering in person. Please watch your email for instructions on how to join the online meeting.

Voting is from Monday, March 30th at 9:00am and concludes on Friday, April 3rd at 12:00 midnight
Vote Complete - Results posted soon