March 2021 Ocean Pines PROGRESS 33 said, with revenues collected from these lots allocated to Exhibit X. When the existing Marina Club loan is paid off and a new loan in place, at an interest lower than the current six percent, then the reason for Exhibit X will disappear and Hearn announces transition of Cove management to Indigo Golf all assessment dollars will become available for Cove operational exBy TOM STAUSS penses, Hearn said. Publisher In turn, the Cove’s balance sheet he Feb. 23 Board of Directors will look better and bankers will meeting of the Captain’s Cove look more favorably on the Cove as Golf and Yacht Club (CCGYC) a commercial borrower, he said. may be regarded as the one of the The assessment increase would significant in the history of the Caphave occurred during the current tain’s Cove community. fiscal year, but the board decided to There were three notable disclohold the line for one more year besures. cause of the Covid pandemic, Hearn Colby Phillips, who had resigned said. 16 from her management role in The board voted unanimously to Ocean Pines, was announced by authorize L&H to begin the process Cove President Tim Hearn as Capof developing the 2021-22 budget intain’s Cove new Senior General cluding the $200 per lot increase, in Manager, with all department heads two six month installments of $700 reporting to her. Justin Wilder, who each. The first six-month $700 inhas been serving as General Manstallment will come due in October, ager, will continue to hold that title. when the 2021-22 fiscal year begins. All other department heads will reThe second installment comes due main on the job with no change in six months later. responsibilities. In announcing Phillips’s accepHearn said Phillip’s new role will tance of the Cove’s job offer, Hearn be “accretive,” that is, one that will expressed his enthusiasm and apadd a new level of management preciation for Phillips’ decision to oversight and personal involvement join the Captain’s Cove managein the community. He later characment team. terized the position as somewhat In answer to a question from Larakin to town mayor. ry Berger, Hearn said her salary Phillips will start her new job on will have little effect on the Cove’s March 15. payroll expense because of the reHearn also announced that cent retirement of Facilities ManCCGYC is transitioning to a new ager Rob Giard, whose position has management structure, outsourcing Captain’s Cove Senior General Manager Colby been unfilled for several weeks and all operations in the Cove to Indigo Phillips doesn’t start until March Golf, which has had a contract to possible. BCG years ago had a con- CCGYC, will be responsible for re15. He declined to make a public anmanage the Marina Club and the tract to manage the Ocean Pines imbursing Indigo for payroll expensnouncement of her starting salary, Cove’s golf course. The contract will Golf Course. The company runs golf es presented in a monthly payment, advising that a written request for be amended to bring all Cove em- courses and food and beverage oper- Hearn said. In the third major disclosure at that information can be made under ployees under the Indigo Golf um- ations nationwide, and Hearn and the rest of the Cove board have been the Feb. 23 board meeting, Hearn Virginia’s HOA law. brella. But he said that if the board had It’s more of an evolutionary step pleased with the operational and fi- announced that the annual lot aselected to fill the position through than a revolutionary one, as 13 Ma- nancial performance of Cove ameni- sessment will be increased from a traditional search, the position $1,200 to $1,400. It’s been $1,200 rina Club and golf course employees ties under Indigo. would have been advertised in a Some of the back office payroll for the past seven years, and Hearn already were Indigo personnel. Serange of $100,000 to about $120,000. curity, front office and maintenance functions handled by L&H Account- said that cost pressures make an But he said Phillips’s skill set and personnel, along with Phillips, will ing will shift to Indigo, but L&H will increase unavoidable if the Cove likely availability because of events all become Indigo employees once a continue generating monthly finan- wants to maintain its strong balhe has monitored this past year in new management contract is com- cial statements and will assist in ance sheet. Ocean Pines made it possible for the preparing the annual Cove budget, Another reason for the increase is pleted and executed. Cove board to bypass the traditional that the board wants to renegotiate That will bring another 13 em- Hearn said. Based on her interview with the the remaining balance of $2,450,000 search protocol and offer the posiployees under the Indigo umbrella, board, he said he expects the Cove’s on the Marina Club loan, which car- tion to Phillips. Hearn said. Within days of the offer, she acIndigo Golf was once known as monthly statements, which can be ries a 6 per cent interest rate. Loan cepted. She met with Chip Harris, Billy Casper Golf, but that name difficult to read, will be revamped by payments currently come out of soIndigo Golf’s regional manager, was changed when the Casper Phillips so they’re more “user-friend- called Exhibit X, which is a defacto Hearn and the Cove board as a part reserve fund financed from 792 lots family withdrew from a licensing ly,” Hearn said. of the hiring process. While all Cove employees will segregated out years ago because of agreement, Hearn said. Indigo Golf “Everyone was very impressed,” may soon to be absorbed by anoth- become Indigo employees, and significant assessment delinquenHearn told the Progress in an earlier er national management company, will receive Indigo paychecks, the cies. Since then, 509 out of those 792 he said, with another name change Cove property owners association, are now active dues-payers, Hearn
CAPTAIN’S COVE
Colby Phillips named senior GM of Captain’s Cove association
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