Lake House Review Firm to Have Public Meeting Thursday

by Dave Emke February 6, 2017 at 11:30 am 11 Comments

Tetra building

Updated at 6:25 p.m. after the meeting time was changed from 3-5 p.m. to 3-8 p.m.

Reston Association members will have their chance later this week to address the firm hired by the RA Board of Directors to review costs associated with the Lake House purchase.

StoneTurn Group LLC will conduct the meeting Thursday from 3-8 p.m. at RA’s headquarters (12001 Sunrise Valley Drive). It was announced at the RA board’s Jan. 27 meeting that the firm would conduct a review of the board’s handling of the property, at a cost of $45,000.

RA members voted in a referendum in May 2015 to allow the association to purchase the Tetra property for $2.6 million — a cost more than double its tax assessment. Renovations made on the property, which were expected to cost $259,000, ended up costing nearly three times that.

In accordance with RA’s request for proposal document, StoneTurn Group is focused on “identify[ing] areas for process improvement, potential changes to internal controls and/or modification to governance procedures to help ensure situations like the Lake House cost overrun can be avoided in the future,” according to a press release from Reston Association.

The renovated Lake House was opened to members last year, and the association is actively promoting the facility to individuals and businesses looking to lease the space.

As with the member-comment period during RA board meetings, members who would like to speak at Thursday’s meeting will be given three minutes (individuals) or five minutes (if representing a group).

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