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08 - Repairs & Maintenance - Renovations & Updates - - Recovered b02ed026 - 15555 Millard Ave, Markham, IL 60428.md

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Property Updates ## 2026-04-06 - 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 · $-11,711.06 · · ECO Operating Cash · $-2,794.42 · · Outstanding Liabilities (Unpaid Bills) · $0.00 · · DAO Net Cash (Capital Call) · $-34,301.75 · · Estimated Owners' Equity · $150,150.00 · · DAO Estimated NAV Per Token · $36.11 · · DAO Tokens · 3208 · · Current PM · E

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# Property Updates

## 2026-04-06

- 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 | $-11,711.06 |
| ECO Operating Cash | $-2,794.42 |
| Outstanding Liabilities (Unpaid Bills) | $0.00 |
| DAO Net Cash (Capital Call) | $-34,301.75 |
| Estimated Owners' Equity | $150,150.00 |
| DAO Estimated NAV Per Token | $36.11 |
| DAO Tokens | 3208 |
| Current PM | ECO (Selling) |

# Property Updates

## 2025-09-02

- Property Update (09/02/2025):
- Owner-Proposed Governance Vote for 15555 Millard 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.
- Fellow owners,
- As you may or may not know, the predecessor entity for the DAO still holds title to the DAO’s real property at 15555 Millard Ave, Markham, IL 60428. Please review and ratify this Organizational Resolution retroactively authorizing the DE LLC to be reinstated in DE and IL. The WY DAO LLC shall become the 100% sole member of the DE LLC and its members shall have all authority over the ownership and management of its underlying asset. The Organizational Resolution also designates Earl Vanze Co as the Manager of the DE LLC for the purposes of executing administrative tasks. Being that the defunct DE LLC would become an active single-member LLC, it would become a disregarded entity for tax purposes and will not need to file its own tax returns.
- The DE LLC will need to remain as an active entity registered with the Secretary of State in both DE and IL so long as it continues to hold title to real property and do business in the respective states, and the Manager shall be responsible for maintaining compliance with local and state laws. The Manager also has discretion to obtain a correction deed and/or affidavit of scrivener’s error, and grant title of the DAO's real property currently held by “LOFTY HOLDINGS 15555 Millard Ave LLC, a Delaware Limited Liability Company” to "Lofty Holding 15555 Millard Avenue DAO LLC, a Wyoming decentralized autonomous organization limited liability company” and/or a third-party buyer upon closing of a sale, and formally terminate the DE LLC when it is no longer necessary for the DE LLC to remain active.
- Thank you for your prompt attention to this matter. Please submit your vote by Tuesday, September 9th at 5 PM EDT.
- All the best,
- Earl Co
- Manager, ECO Systems LLC
- Member, Lofty Holding 15555 Millard Avenue DAO LLC
- Option 1: Approve and Ratify the Organizational Resolution.
- Option 2: Decline (provide feedback to ecosystemspm@gmail.com).
- The results will be determined by a 60% Supermajority and sent to all owners on Tuesday, September 9th once the voting period ends.

## 2025-09-02

- Property Update (09/02/2025):
- Governance Results for 15555 Millard Ave:
- The Governance Voting results are back for the owner-proposed vote.
- The winning vote is:
- Option 1: Approve and Ratify the Organizational Resolution.
- This option received 775 / 777 token votes, which is equal to 99% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/3205598614) or by searching the application ID: 3205598614

## 2025-07-12

- Property Update (07/12/2025):
- Note from PM (Urban REI) below. Per the recent governance results, ECO Systems LLC will take over management once the eviction is completed.
- I have closed the pending owner contribution request from May that remained open on 15555 Millard. Instead, I have submitted a new owner contribution request with the current updated amount due on it. Attached to it and attached to this email you will find a listing of invoices making up this amount.
- We are scheduled to appear in court for you next week on this property, please note we need this owner contribution balance paid before we can appear in court.
- If there are any questions please let me know.
- Thank you , Amanda Govaere, Controller, Urban REI
- Good evening - This is a reminder - please note your balance is currently -$6,927.99 The grass needs to be cut which we cannot authorize until contribution is made. This may lead to more violations for the grass. There is a court date next week on your property which we cannot attend for you without the contribution made. Contribution request has been outstanding for some time, new one sent yesterday.
- We appreciate the prompt payment for the owner contribution.
- [View Documents](https://www.dropbox.com/scl/fo/ji959g2byxmjr1pvx7vyb/AIjNTNOnoGBaUME9KY9RD14?rlkey=wc8rck3okdjtt1ogz79w57y5h&st=5mnz1cfw&dl=0)
- Note from Urban REI:
- "I wanted to update you on my recent conversation with Anita, the Assistant to the Mayor of Markham. I made sure she fully understood what’s happening at the property.
- I explained that the tenant was given a chance to avoid eviction if she cooperated by allowing us to complete the necessary city-mandated repairs. However, she refused to sign the agreement, which is why her balance remains unpaid.
- We also discussed the water bill. I clarified that water charges are the tenant’s responsibility. While some of the charges are the result of a leak, the city simply wants the bill paid—they aren’t concerned with who pays it. A possible solution is for us to cover any amount above what the tenant normally pays for water, based on her past bills, and hold her responsible for her usual portion.
- I also informed the city that we’ve made repeated attempts to complete the repairs, but the tenant has consistently denied our contractors access. The city has asked us to document every instance where she refused entry, and I will make sure we keep detailed records of this moving forward.
- The city is willing to work with us to get the property in compliance and will assist in encouraging the tenant to cooperate.
- As for the eviction, it will be decided in court. The eviction is solely based on the unpaid rent balance; her refusal to allow repairs is a separate issue.
- Please let me know if you’d like me to take any further action.
- Best, Ed Crespo"

## 2025-05-31

- Property Update (05/31/2025):
- Note from PM (Urban REI) below. Per the recent governance results, ECO Systems LLC will take over management once the eviction is completed.
- "We haven’t received a response from the village yet. Typically, it takes about 1–2 months for them to review all the applications they receive."

## 2025-05-17

- Property Update (05/17/2025):
- Note from PM (Urban REI) below. Per the recent governance results, ECO Systems LLC will take over management once the eviction is completed.
- "The case has been continued to June 10th, and our manager will be attending alongside legal counsel."
- "Registration documents will be reviewed in the order they were received. They are still currently reviewing the documents."

## 2025-05-12

- Property Update (05/12/2025):
- Governance Results for 15555 Millard Ave:
- The Governance Voting results are back for the owner-proposed vote to change property managers.
- The winning vote is:
- Switch PM to Eco Systems, effective May 15th
- This option received 1080 / 1100 token votes, which is equal to 98.18% of the total votes.
- The voting results can be found on chain [here](https://allo.info/application/2990311522) or by searching the application ID: 2990311522

## 2025-05-10

- Property Update (05/10/2025):
- Note from PM (Urban REI):
- "The village coordinator said they are currently reviewing the documents and keep us posted. Will let you know once we hear back from them."

## 2025-05-04

- Property Update (05/04/2025):
- Owner-Proposed Governance Vote:
- An Owner with the following [wallet address](https://allo.info/account/PJHK74F24OLHGOLQM5FRUKKWNOVURMSCABBMDOTWCAW3ZPTL6CSJRUFKA4) is proposing a governance vote.
- This owner holds 285 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.
- Dear 15555 Millard Ave Co-owners,
- This property has been receiving rent most time through Section8 but mysteriously has a negative Operating Reserve despite no major maintenance work was performed the past 1-2 years.
- I would like to propose to switch PM to Eco Systems, effective May 15th. ECO Systems’ management fees are 10% of gross rent, first month rent to place a tenant. No fees for re-lease and no maintenance upcharge. I also urge co-owners to join the Discord channel so we can discuss how to turn this property around. @earlvanze is active in Discord and we can discuss about the financial state of this property and develop a new strategy to bring this property back to performing. By working together I have great hope for this property. The DAO Vote:
- (1) Do nothing.
- (2) Switch PM to Eco Systems, effective May 15th.
- The winning vote will be determined by a Supermajority of 60%+ and the results will be sent to owners on Monday, May 12th, once the voting period ends.

## 2025-04-24

- Property Update (04/24/2025):
- The property manager has requested a notarized Landscaping Affidavit for the Village of Markham inspection for the 2025/2026 period. The document will be wet-signed and notarized.
- In addition, the Village of Markham is requesting proof of payment for the prior year’s property real estate taxes.
- The property currently has outstanding tax balances of:
- $4,094.46 for 2023
- $2,101.45 for 2024
- The property manager noted they can attempt to submit the Landscaping Affidavit without the tax receipt and see if the property can still be registered.

## 2025-04-19

- Property Update (04/19/2025):
- Note from PM:
- "We apologies for the late response. Our attorney spoke with the tenant and stressed to her the importance of her cooperating with the repairs in the property. The case has been continued to May 8th."

## 2025-03-15

- Property Update (03/15/2025):
- Note from PM:
- "The attorney informed us that the Defendant appeared in court on March 11. In line with standard courtroom procedure, the case was referred to the State-sponsored ERP program (legal aid and advice program) and has been continued to April 8, 2025, for status. The attorney will update us in the meantime if they are contacted by an ERP representative regarding the settlement."

## 2025-03-07

- Property Update (03/07/2025):
- March's subsidy payment of $1,663 has been received; however, the tenant’s portion remains unpaid.
- The tenant now has a past due balance of $5,439.50.
- Note from PM:
- "We were advised by the attorney that their office will provide further updates on the eviction status after March 11.
- We'll keep you posted once we hear back from them on Tuesday."

## 2025-02-23

- Property Update (02/23/2025):
- February’s subsidy payment of $1,663 has been received; however, the tenant’s portion remains unpaid.
- The tenant now has a past due balance of $5,403.50.
- The property manager confirmed that the eviction paperwork from the attorney has been signed and returned.
- They are now awaiting the first court date.

## 2025-01-27

- Property Update (01/27/2025):
- *Governance Results:*
- The Governance Voting results are back for the owner proposed governance vote to evict the tenant.
- The winning vote is:
- Yes [evict the tenant]
- This voting option received 1,070 / 1,233 token votes, which is equal to 86.8% of the total votes
- The voting results can be found on chain [here](https://allo.info/application/2726796430) or by searching the application ID: 2726796430

## 2025-01-20

- Property Update (01/20/