Post by Veritas on Sept 19, 2024 9:51:12 GMT -7
GLA Net Worth skyrockets from 330 thousand dollars to 3.99 Million Dollars
The net worth of the Glastonbury Landowners Association(GLA) skyrocketed from $331,330.92 to $3,996,249.91 in August 2024. For the first time, the value of GLA Real Estate holdings were placed on the official GLA Balance Sheet. In February, former GLA President Doug Gill made it a priority to have GLA owned lands assessed and placed on the financial statements. Community Property chair John Carp worked with Small Dog Realty to get accurate land valuations by comparing them to similar parcels recently sold in Paradise Valley. The amounts were approved by the GLA Board and became part of the Financial statements in July.
The Forum first reported on this story on May 19, 2022.
The GLA is considering selling at least one parcel and using the money for asphalt road repairs. The question to sell a particular property would have to be decided by landowners. However, several changes to the Bylaws in 2023 greatly reduced the number of YES votes needed. A simple majority of those who vote could be enough to approve the sale of any parcels owned by the GLA.
The old-timers held the majority of seats on the 2023 and 2024 GLA boards. If that trend continues, it is speculated that the board would vote to transfer the current GLA to a Church Universal and Triumphant(CUT) sponsored corporation. That would give CUT full control of the GLA and Glastonbury assets once again.
Download the August 2024 GLA Balance Sheet here.
The Forum first reported on this story on May 19, 2022.
The GLA is considering selling at least one parcel and using the money for asphalt road repairs. The question to sell a particular property would have to be decided by landowners. However, several changes to the Bylaws in 2023 greatly reduced the number of YES votes needed. A simple majority of those who vote could be enough to approve the sale of any parcels owned by the GLA.
The old-timers held the majority of seats on the 2023 and 2024 GLA boards. If that trend continues, it is speculated that the board would vote to transfer the current GLA to a Church Universal and Triumphant(CUT) sponsored corporation. That would give CUT full control of the GLA and Glastonbury assets once again.
Download the August 2024 GLA Balance Sheet here.