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Can any of the board members or members explain why Ray’s estate has not been turned over to the WTA so they can satisfy Summit Credit Union? From what I have heard it is costing the WTA about a $100.00 a day in interest for not doing so! As I under stand (correct me if I am Wrong) we are paying interest on a loan for around $1’600’000.00 and that loan was secured using Ray’s estate, upon Ray’s passing the money from Ray’s estate was to be turned over to Summit, is this correct? I believe we have sold Ray’s house from what I have heard and everything was supposed to be in order with Denny Taylor as the executor of Ray’s estate. Are we in default of the loan with Summit? Can the WTA afford to keep losing $100.00 a day in interest? In my opinion for what it is worth we need to get this loan paid down and work with the creditors if we want to survive. I want this facility to survive, it is and can be a great place to shoot.
Concerned ATA member
Pete Rustad
I have sum good news. Ray’s house money was deposited yesterday into the WTA checking. I wrote a check to Summit this morning. We are technically in default because they have not received all of Ray’s funds as promised. I have been begging to get this resolved since December. You are correct, it is costing the WTA about $100 per day in interest. When we receive Ray’s money and pay down our note, Summit is willing to re ammoratize that note to make our payments less, so this is a win win for the WTA. The BOD is working on developing a new business plan, because the old one was far from reality. We all want to see this place survive, now we just have to figure out how to pay for it.
Thanks Jim Kroeplien WTA treasurer
Thanks Jim, it is a step in the right direction, and thanks for your response. Any reason the rest of the estate was not turned over? It is all part of the estate so obviously there is no problem with that, the only difference is the investments need to be made liquid basically. How much time does that take?
Thanks for the update Jim
Pete Rustad
Why are we continually wasting $100.00 per day on interest? It should be simple to liquidate the investments into full payment to Summit’s loan.
Last I heard they were working on it. Because of getting it out of Denny’s name it takes time. This is why everything should be in more than one name. Things happen.
Don I don’t believe it should take almost 8 months to turn this money over to WTA and then summit. That is almost $24,000 we threw away in interest. I know the current board is working on this.
I was told Denny will not sign the papers to get it done. Any truth to this? Any one want to explain? We were told at the October meeting, by them president Simonar that all it would take is Denny’s signature and it would be taken care of, all the foot work was done, no probate or anything. Sure would be nice if someone knew what was happening and could let the membership know.
Pete Rustad
Interesting and great news. That we have talk to the NRA and the $75,000 that we received can be used towards a smaller building and could have been in the past. It was even stated that if we built a smaller building that they would probably help us in the future with more grants. Also all venders that were paused for future services would refund our money with no problem at all.
It makes you wonder why we haven’t ever heard this before. A smaller building that we could have built a few years ago would have saved us all the money we spent on the hoop building and served us well for the time.
It seems as if the entire agenda was go big or stay home. Makes you ask yourself why it’s taking so long to get money transferred to WTA to save us close to $30,000 in interest. Excited to see how this plays out and how neat to get s building that we could’ve have years back for free basically.Interesting and great news. That we have talked to the NRA and the $75,000 that we received can be used towards a smaller building and could have been in the past. It was even stated that if we built a smaller building that they would probably help us in the future with more grants. Also all venders that were paid for future services would refund our money with no problem at all.
It makes you wonder why we haven’t ever heard this before. A smaller building that we could have built a few years ago would have saved us all the money we spent on the hoop building and served us well for the time.
It seems as if the entire agenda was go big or stay home. Makes you ask yourself why it’s taking so long to get money transferred to WTA to save us close to $30,000 in interest. Excited to see how this plays out and how neat to get a s building that we could’ve had years back for free basically.Andy. You were sitting one person away from me in I believe either Jan. or Feb or somewhere around there when they first voted to have John work on getting it out of Denny’s name so that isn’t 8 months.
Dan I just got out of the hospital today. I hope you don’t go in to have your arm repaired from patting yourself on the back so often. Don’t you think it was know that it could be used on any size building as long as it has classrooms. And I know it was know that the money could be gotten back to use in some other building. It was talked about before the hoop building went up. It was know that the way it was set up that we could get most of the money back. There was some that went to Van Ert and some that went to a block company that was spent already for block and some electrical work. So I do believe you were wrong about getting all the money back. The sixty or sixty-five thousand dollars won’t pay for the bathrooms needed or the heat and air-conditioning.
It seems the amount that you don’t know about what was going on is a very large amount. Had you been to the meetings you would have known about some of these things.
I wish you well with your thinking about a smaller building. I too think that the building that was designed was way out of line. And trust me that building would not have been allowed to be started by the BOD at the time.
Well Don I’m sorry to hear of your health issues.
I was relaying the information as it was given.
As far as a smaller building when I first started shooting ATA targets I mentioned I could probably get a discount on a smaller building from AmWood Homr which I’m a dealer for and sell it at Net Net so we could put up a building and I was told very bluntly we couldn’t do that it had to be the building that was designed. I won’t put named out there to create more issues.
I receive so many calls or questions and when I first got on the BOD there no answers.
Dewey and Bruce at the last meeting were suppose to dig into this to see what could be done with money’s from NRA so it wasn’t very clear what we could do then. That was the last meeting.
I certainly don’t want credit as I was just sharing what we had learned.
This season for me is the worst to help due things due to a huge overload of work at our business.
It almost seems as if you think we are pointing a finger at you the way you reply.
As far as the money taking 8 months yes people are wondering why if he passed back then why wasn’t it handled then so we wouldn’t be in the money crunch we are in now. 7-8 months cutting the payment in half would have saved us about $40,000 in payments.
I would love to see this thrive but it was sold to everyone with false pretenses. Now it’s time to deal with all that has gone south from decisions that were made in the past. Again I hope you get better soon.Don sorry to hear about your health issues and hope u r doing better, get well soon. During the October meeting we were told that the funds were all available immediately by Bill Simonar. So we have been paying interest for 8 months. Either way who cares if we throw away $24,000 or $ 1.7 million needlessly.
Andy I think there were a lot of things about this loan and Ray’s estate and the joining of the two that no one, even other BOD were aware of. I guess I can understand some of the time inv0lved in getting the investments. But now I think it should have been handled by this time. There are so many rumors floating around about whey the money is not being transferred and with me being out of the loop (as all members are) that I really don’t know what is going on. I hope the BOD learns something, that should have been done with the past board, me included. Things need to be set up with more than one signature. So if something ( hopefully not) should happen that things can still be handled. I don’t know what all needs to be done to protect the WTA and it’s members. But something needs to be done in the future with all bank accounts, loans and such so that ONE person can not take off with and or control. Like I said before I don’t know how this is done but I am sure that there is a way.
All the accounts at the River Cities Bank has two listed people that can handle any money matters. I will look into to our loan at Summit, because I am not sure but I believe it has at least two also. I wish there was an easy way to resolve the fidelity account issue. It would help the WTA immensely.
Thanks Jim Kroeplien
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