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UPDATES.md

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Property10724 Gooding Ave, Cleveland, OH 44108
FolderREADME & Property Snapshot
KindText
Updated2026-07-11
Dropbox path00 - README & Property Snapshot/UPDATES.md

What This File Appears To Be

Property Updates ## 2026-04-13 - Property Update (04/13/2026): - We are issuing a proactive owner communication to keep update cadence consistent. - Property operations and file review are in progress. - A fuller operational/financial update will follow after manager file reconciliation. ## 2026-04-06 - Property Update (04/06/2026): - Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx): · Field · Value · · ------- · ------- · · Yhome Net Due TO DAO

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# Property Updates

## 2026-04-13

- Property Update (04/13/2026):
- We are issuing a proactive owner communication to keep update cadence consistent.
    - Property operations and file review are in progress.
    - A fuller operational/financial update will follow after manager file reconciliation.

## 2026-04-06

- Property Update (04/06/2026):
- Yhome Transition Reconciliation (as of 2026-04-06 via Lofty PM/Yhome Transition Reconciliation.xlsx):
    | Field | Value |
    |-------|-------|
    | Yhome Net Due TO DAO | $0.00 |
    | Lofty Operating Cash | $-8,964.92 |
    | ECO Operating Cash | $-916.86 |
    | Outstanding Liabilities (Unpaid Bills) | $0.00 |
    | DAO Net Cash (Capital Call) | $-19,191.01 |
    | Estimated Owners' Equity | $70,500.00 |
    | DAO Estimated NAV Per Token | $20.52 |
    | DAO Tokens | 2501 |
    | Current PM | ECO (Selling) |

## 2026-03-11

- Property Update (03/11/2026):
- This property received an insurance refund check of $799.01, which will be added to its Operating Reserve.

## 2026-03-11

- Property Update (03/11/2026):
- This property received an insurance refund check of $799.01, which will be added to its Operating Reserve.

## 2026-01-06

- Property Update (01/06/2026):
- This property received an insurance refund check of $1,065.72, which will be added to its Operating Reserve.

## 2026-01-06

- Property Update (01/06/2026):
- This property received an insurance refund check of $1,065.72, which will be added to its Operating Reserve.

## 2025-12-02

- Property Update (12/02/2025):
- Governance Results for 10724 Gooding Ave:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - Approve borrowing a $5,000 bridge loan from the ULD (recommended)
    - This option received 1,089 / 1,110 token votes, which is equal to 98% of the total votes.
    - The voting results can be found on chain [here](https://allo.info/application/3350355531) or by searching the application ID: 3350355531

## 2025-12-02

- Property Update (12/02/2025):
- Governance Results for 10724 Gooding Ave:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - Approve borrowing a $5,000 bridge loan from the ULD (recommended)
    - This option received 1,089 / 1,110 token votes, which is equal to 98% of the total votes.
    - The voting results can be found on chain [here](https://allo.info/application/3350355531) or by searching the application ID: 3350355531

## 2025-11-25

- Property Update (11/25/2025):
- Owner-Proposed Governance Vote for 10724 Gooding Ave:
    - The property manager, ECO Systems LLC with the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM), is proposing a governance vote.
    - This owner holds 1 token in this property.
    - The owner's reasoning is below, word-for-word:
    - *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
    - Property: 10724 Gooding Ave, Cleveland, OH 44108 (LFTY0131) Proposal Date: November 24, 2025 Supermajority Required: 60% Proposal Summary The DAO is in critical financial distress (net cash -$10,592, unpaid taxes, insurance, and vendor bills) and has already voted 98% on October 7, 2025 to list the property for sale. To facilitate an orderly sale process and avoid immediate tax liens or insurance lapse, the DAO requires a bridge loan of net $5,000.00 from the Universal Lending DAO to settle urgent obligations (insurance $749.10 + PM debt to Earl Co $3,988.93 + minor contingencies). Proposed Loan Terms Principal (net to DAO): $5,000.00 Origination Fee: 3% ($150.00) Total Loan Amount: $5,150.00 Interest Rate: 13.5% per annum, compounded monthly Term: 3 years Early Call / Liquidation Trigger: If any scheduled payment is missed during the first 18 months (50% of term), the ULD may immediately call the full balance and exercise first-lien rights to force liquidation/sale. Repayment Priority: 100% of net rental income (if any) applied to the loan until fully repaid; OR replenishment waived due to sale mandate.
    Voting Options Option A - Approve borrowing a $5,000 bridge loan from the ULD (recommended) Option B - Decline the loan (property risks tax lien, insurance cancellation, and accelerated forced sale at lower value) Rationale for Approval This short-term, high-priority bridge loan aligns with the DAO's existing 98% mandate to sell, clears immediate liabilities, protects asset value during marketing, Thank you,
    - Earl Co
    - Manager, ECO Systems LLC
    - Member, Lofty Holding 10724 Gooding Avenue DAO LLC
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, December 2nd, once the voting period ends.

## 2025-11-25

- Property Update (11/25/2025):
- Owner-Proposed Governance Vote for 10724 Gooding Ave:
- The property manager, ECO Systems LLC with the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM), is proposing a governance vote.
- This owner holds 1 token in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- Property: 10724 Gooding Ave, Cleveland, OH 44108 (LFTY0131) Proposal Date: November 24, 2025 Supermajority Required: 60% Proposal Summary The DAO is in critical financial distress (net cash –$10,592, unpaid taxes, insurance, and vendor bills) and has already voted 98% on October 7, 2025 to list the property for sale. To facilitate an orderly sale process and avoid immediate tax liens or insurance lapse, the DAO requires a bridge loan of net $5,000.00 from the Universal Lending DAO to settle urgent obligations (insurance $749.10 + PM debt to Earl Co $3,988.93 + minor contingencies). Proposed Loan Terms Principal (net to DAO): $5,000.00 Origination Fee: 3% ($150.00) Total Loan Amount: $5,150.00 Interest Rate: 13.5% per annum, compounded monthly Term: 3 years Early Call / Liquidation Trigger: If any scheduled payment is missed during the first 18 months (50% of term), the ULD may immediately call the full balance and exercise first-lien rights to force liquidation/sale. Repayment Priority: 100% of net rental income (if any) applied to the loan until fully repaid; OR replenishment waived due to sale mandate.
Voting Options Option A – Approve borrowing a $5,000 bridge loan from the ULD (recommended) Option B – Decline the loan (property risks tax lien, insurance cancellation, and accelerated forced sale at lower value) Rationale for Approval This short-term, high-priority bridge loan aligns with the DAO’s existing 98% mandate to sell, clears immediate liabilities, protects asset value during marketing, Thank you,
- Earl Co
- Manager, ECO Systems LLC
- Member, Lofty Holding 10724 Gooding Avenue DAO LLC
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, December 2nd, once the voting period ends.

## 2025-11-25

- Property Update (11/25/2025):
- Owner-Proposed Governance Vote for 10724 Gooding Ave:
    - The property manager, ECO Systems LLC with the following [wallet address](https://allo.info/account/YILY2YPFH2HODAZSMVJ6C2URUTBJSEPB3377SIKHFCFMGQEEFAJ3E5TYDM), is proposing a governance vote.
    - This owner holds 1 token in this property.
    - The owner's reasoning is below, word-for-word:
    - *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
    - Property: 10724 Gooding Ave, Cleveland, OH 44108 (LFTY0131) Proposal Date: November 24, 2025 Supermajority Required: 60% Proposal Summary The DAO is in critical financial distress (net cash -$10,592, unpaid taxes, insurance, and vendor bills) and has already voted 98% on October 7, 2025 to list the property for sale. To facilitate an orderly sale process and avoid immediate tax liens or insurance lapse, the DAO requires a bridge loan of net $5,000.00 from the Universal Lending DAO to settle urgent obligations (insurance $749.10 + PM debt to Earl Co $3,988.93 + minor contingencies). Proposed Loan Terms Principal (net to DAO): $5,000.00 Origination Fee: 3% ($150.00) Total Loan Amount: $5,150.00 Interest Rate: 13.5% per annum, compounded monthly Term: 3 years Early Call / Liquidation Trigger: If any scheduled payment is missed during the first 18 months (50% of term), the ULD may immediately call the full balance and exercise first-lien rights to force liquidation/sale. Repayment Priority: 100% of net rental income (if any) applied to the loan until fully repaid; OR replenishment waived due to sale mandate.
    Voting Options Option A - Approve borrowing a $5,000 bridge loan from the ULD (recommended) Option B - Decline the loan (property risks tax lien, insurance cancellation, and accelerated forced sale at lower value) Rationale for Approval This short-term, high-priority bridge loan aligns with the DAO's existing 98% mandate to sell, clears immediate liabilities, protects asset value during marketing, Thank you,
    - Earl Co
    - Manager, ECO Systems LLC
    - Member, Lofty Holding 10724 Gooding Avenue DAO LLC
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, December 2nd, once the voting period ends.

## 2025-10-07

- Property Update (10/07/2025):
- Governance Results for 10724 Gooding Ave:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - Yes, list for sale
    - This option received 772 / 784 token votes, which is equal to 98% of the total votes.
    - The voting results can be found on chain [here](https://allo.info/application/3248336800) or by searching the application ID: 3248336800

## 2025-10-07

- Property Update (10/07/2025):
- Governance Results for 10724 Gooding Ave:
    - The Governance Voting results are back for the owner-proposed vote.
    - The winning vote is:
    - Yes, list for sale
    - This option received 772 / 784 token votes, which is equal to 98% of the total votes.
    - The voting results can be found on chain [here](https://allo.info/application/3248336800) or by searching the application ID: 3248336800

## 2025-10-01

- Property Update (10/01/2025):
- Owner-Proposed Governance Vote for 10724 Gooding Ave:
    - An owner with the following [wallet address](https://allo.info/account/QDTN5SITNPO4AMXPTOAFJDE2NSOHGKQE4LUHD2MUEWBJKHEPAHYEYBO6VM) is proposing a governance vote.
    - This owner holds 142 tokens in this property.
    - The owner's reasoning is below, word-for-word:
    - *Because this is an owner proposed vote, Lofty cannot change the content. It's up to owners to verify the accuracy of the claims below.
    - My Wallet Address: QDTN5SITNPO4AMXPTOAFJDE2NSOHGKQE4LUHD2MUEWBJKHEPAHYEYBO6VM
    - I am recommending we list this property for sale as the financials put us very far away from cash flowing:
    - Vote:
    - List Property for sale?
    - 1) Yes
    - 2) No
    - The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Tuesday, October 7th, once the voting period ends.

## 2025-10-01

- Property Update (10/01/2025):
- Owner-Proposed Governance Vote for 10724 Gooding Ave:
- An owner with the following [wallet address](https://allo.info/account/QDTN5SITNPO4AMXPTOAFJDE2NSOHGKQE4LUHD2MUEWBJKHEPAHYEYBO6VM) is proposing a governance vote.
- This owner holds 142 tokens in this property.
- The owner's reasoning is below, word-for-word:
- *Because this is an owner proposed vote, Lofty cannot change the content. It’s up to owners to verify the accuracy of the claims below.
- My Wallet Address: QDTN5SITNPO4AMXPTOAFJDE2NSOHGKQE4LUHD2MUEWBJKHEPAHYEYBO6VM
- I am recommend