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LYC Enhancement Brochure         
LYC 2022 Referendum Presentation (video)  

Previous emails sent to our membership: 
  
May 27, 2022 Referendum Voting Results from Beth Copeland
Dear Fellow Members:   
I am excited to announce the results of the vote for the LYC Enhancement Plan passed with 93.2% of the vote.  Seventy percent of the membership participated in the referendum. We thank everyone for participating and the many members who reached out with questions or concerns. 
 
After the Special Meeting of the Board of Directors, this morning and the results were announced, the Board also approved motions regarding financing the plan.  We are pleased to have locked in a 20-year loan with a rate of 3.27% with interest-only payments for the first two years and fixed for ten years.  After ten years, the rate is floating at prime minus 1% point.  There is no prepayment penalty if the club utilizes its capital funds to repay the loan or if we can negotiate a lower interest rate at that time through Community Bank.
 
We understand that not everyone favored the plan, and I encourage those with concerns or suggestions to reach out to the Master Planning Committee or me.  The suggestions we have received have been very helpful and we encourage any member to contact us.
 
Thank you for your participation and we look forward to the groundbreaking in mid-September!

April 10, 2022

Dear Fellow Members:
Three years ago, the Lewes Yacht Club conducted a member survey that the Board of Directors used to identify areas of club enhancement for the continued long-term success of the Club.  Since that time, and in conjunction with the Master Planning Committee, the board has been engaged in long-range facility planning based on Member feedback.
This Plan was developed by the Master Planning Committee – who, over the past several years, has worked together with a collective group of Members, staff, and industry experts to evaluate our facilities, operations, and programs to examine potential enhancement opportunities.  The areas identified included:

  • Improve Member satisfaction

  • Focus on addressing Member suggestions and comments

  • Minimize impact

  • Maximize value

For each potential enhancement, the team evaluated the benefits and value to our Members against the potential short- and long-term impact and cost. This effort was driven from the perspective of what is essential for our Members today – and for the continued long-term success of our Club over the next several decades. We believe that the LYC Enhancement Plan represents an exciting and responsible combination of features and benefits for all Members.
The LYC Board of Directors is excited to announce that after reviewing the LYC Enhancement Plan, the Board has unanimously voted to hold a referendum required by LYC’s By-Laws for any expenditures above the approved threshold amount of $382,000. 
A Referendum Committee will present the LYC Enhancement Plan to Members on April 14, 2022, at 7 PM and April 24, 2022, at 3 PM, with voting to begin on May 19, 2022, and end on May 26, 2022.  For those Members who cannot attend either of these presentations in person, we will be recording and sharing a link to the video recording of the presentation. Please look for more detailed information soon, regarding presentations and the voting process.
Following your review, we are hopeful that you will share our enthusiasm for the LYC Enhancement Plan. More importantly, we hope you will vote in favor of the pending referendum proposal.
Sincerely,
Beth Copeland – Commodore