Seven Locks Swim and Tennis Club
Great Things Are Coming for Opening Day!
Winter may
have us in its chill embrace but a new
season of Summer Fun is just around the corner. Our club will open for its 47th
season in just four short months and we have been busy preparing.
Strategic Planning during the off season has focused on how to best ensure our club continues to deliver Summers of Fun for decades to come. Our priorities are to provide greater service through improvements to our facilities and greater value to existing members and prospective members. We have also already begun plans for our Golden Anniversary in 2014, a chance to celebrate 50 years of beloved summer traditions.
Our Strongest Assets are our great location, ample property, a pool structure designed to last 100 years, a new pump system and kiddie pool, the vibrant community of member-owners and memberships available without geographic restrictions to MD and DC residents.
Improving our Facilities through numerous projects is underway with most to be completed by Opening Day 2011:
· Refurbish bathhouses bathrooms and lockers
· Repair tennis courts, tennis shelter, retaining wall and surrounding areas
· Install new playground area and playground equipment
· Major clean up and landscaping of the grounds and fencing
· Installation of Wi-Fi for member internet access
· New website with membership database, web payment and links to Facebook and Twitter
· Selection and onboarding the most attentive and member-focused management company
· New white coat on pool and replacement of pipe system - planned for later phase
Funding and Cash Flow is not surprisingly one of our biggest challenges. To improve our cash flow and reserves, and secure financing for the targeted projects we are using a three pronged approach:
1. Refinancing/Loan - Take advantage of current lower interest rates to refinance our existing debt while prudently leveraging our underlying value with additional financing to fund improvements. We are in the process of finalizing negotiations on this financing.
2. Capital Assessment - Bolster our cash liquidity through capital assessment of $200 per membership, due by March 15th. This early income will help complete the planned improvements for the start of the season. Membership fees will remain unchanged this year, and this assessment replaces last year’s $60 capital improvement fee.
3. Membership Drive – With the improvements to our club we aim to add 100 new members in the next 2 years. By increasing our members, we can keep fees and assessments low while increasing our reserves and maintaining our vibrant summer community. Each of you can help with recruiting new members - more to come on this!
We will continue to keep you informed of progress. Stay tuned for the new web site launch with 2011 Membership information. Please do your part by sending in payment of the Capital Improvement Fee promptly by March 15th, to PO Box 34509, Bethesda, MD 20817.
Please enclose the form found at http://sevenlocks.net/Special Assessment Payment Form 2011.pdf
Thanks, and stay warm!
Your Seven Locks Swim and Tennis Board of Directors
Bart Servaes-Colette Thibodeau-Mike House-Will Carrington-John Byrne-Elizabeth Seibel-Andy Norris-Fred Johnson