Banquet Hall Ownership?

Resort Banquet Hall Presented for Sale to CLA

UPDATE - JULY 26, 2017

The letter presented by the owner of the banquet facility at Crane Lake Resort was an agenda item at the Annual General Meeting of the Crane Lake Association on July 15th, 2017. As noted below, based on the majority of feedback received from the membership and the board's own evaluation of the practicality and financial implications of such a purchase, the board presented the motion to decline the offer to purchase the property. 

The motion was opened for discussion and no amendments were made to the motion. The motion was carried by a vote of the membership and on July 17th, 2017, the Crane Lake Association submitted a formal written reply to the lawyer of the property owner declining the offer to purchase the banquet facility. 

As an Association, we have been fortunate to benefit from access to this space at no cost for many years and are thankful to the property owners for their generosity. We thank all members of the Association for their attention to this important issue and for the responses and feedback received. As more information arises with respect to the future of this facility, we will keep you advised. 

UPDATE - JULY 12, 2017

Thank you to those members that responded to our request for feedback on the recent opportunity to purchase the banquet facility at Crane Lake Resort.  A formal decision will be made at the AGM this Saturday, July 15th, 2017. Based on the majority of the feedback, and the board’s evaluation of practicality and financial consideration, the board will be presenting the motion to decline the offer to purchase. This motion will be voted on by the membership and we look forward to seeing you there!  

UPDATE - JUNE 16, 2017

We have already started to receive great feedback from our recent communications about the Banquet Facility. To respond to the most frequently asked question we have seen, we would like to confirm that the CLA has at no point approached the Owner with any interest to purchase the Banquet Facility. Once the letter was received from the Owner’s lawyer, the CLA’s first action was to begin a consultative process with Association Members, seeking your input to guide discussion and determination of a formal response at the July 15th AGM. We look forward to receiving even more feedback from the Membership and invite you to share this information with your families. To read our initial communication about the Banquet Facility sale offer, or to submit your thoughts, please visit the form.

ORIGINAL POST - JUNE 10, 2017

The Crane Lake Association has received a letter from the lawyer representing Ned, the owner of the Crane Lake House Resort, dated June 7th, 2017. The intent of the letter is to advise us that the Banquet Facility of the Crane Lake House Resort is available for sale to the Crane Lake Association for the sale price of $700,000. A copy of the letter is provided below for your review. A response from the Crane Lake Association is required by July 17th, 2017. As a member organization, the Crane Lake Association requires direction from its members prior to formally responding. A formal response to the Owner will be determined at the Annual General Meeting of the Crane Lake Association on July 15th, 2017 at 9:30am in the Banquet Facility in question.

Important facts within the letter include:

• A vendor take back mortgage is not available;
• The Facility will not be a part of the residential condominium plan;
• Purchase of the Facility will not grant use of the residential condominium amenities, including the Beach which the Crane Lake Association has used at no cost for its' annual Regatta.
• This offer is available only to the Crane Lake Association and is not extended to individuals (Members or otherwise);
• The letter is an initial offer only, with specific terms of the purchase to be reviewed if interest is indicated.

Some important facts with respect to the Crane Lake Association:

• The Crane Lake Association is a volunteer organization. There are no employees;
• The current annual membership dues of the Association are $100, of which $50 is committed to funding the capital reserves for the fire boat and safety equipment, and for small emergency situations;
• The Crane Lake Association has enjoyed the luxury of the use of the Banquet Facility for many years for our annual meetings and other gatherings at no cost;
• To date, the Crane Lake Association has not expressed formal interest in ownership of the Banquet Facilities.
• Refer to the Summer 2017 Crane Lake Newsletter for the current financial status of the Association, with our financial statements to be presented at the Annual General Meeting. 

Given the generous access granted to the Banquet Facility in years past, the Crane Lake Association Board is, of course, interested in any opportunity to preserve this facility for the use of our members and the broader community. However, in addition to up-front capital outlay, any consideration of ownership must contemplate the ongoing cost of maintenance and upkeep, taxes, and other operational costs of the facility.

Your Input is Critical

The owner has requested a response by July 17th, 2017. The Annual General Meeting of the Association takes place on July 15th at which time the CLA response will be determined by vote of its members. Your input is critical. In advance of the AGM, please fill in the form below to share your thoughts with the Board. The CLA will use this input to guide the discussion at the AGM where the formal vote will be made.