After lengthy negotiations, we now have a final number for the buyout of the Navica contract. We know that this issue has placed a hardship on our members and, while that was never our intention, we acknowledge and appreciate your patience.
The final amount required to terminate the Navica contract is $300,000. Leadership is prepared to pay that from cash reserves but needs membership approval to do so.
There is a financial impact to the members to consider. Dues that were decreased and assessments that were eliminated when we contracted with Navica will need to be reinstated. If we successfully terminate the Navica contract, 2019 MLS dues are anticipated to return to $360 per year and NABOR dues will increase from $100 per year to $130 per year. In addition, there will be a $30 cost to cover the MLS price difference of reinstating Matrix for the last six months of 2018, which will be billed on July 15
If we successfully terminate the Navica contract, Navica will be set to read-only for a two-week period after the termination date. This will be done to give our members access to the data, if needed. Immediately upon termination, NABOR will act to switch the RETS feeds back to Matrix.
If we do not successfully terminate the Navica contract, we will remain with Navica for four years. Matrix will remain as a read-only resource until September 29, 2018.
On June 15 we invite you to come to the
NABOR Event Center
and indicate your preference by paper ballot. We will open voting at 9:00 a.m. and close it at 4:00 p.m. Our bylaws do not provide an option for absentee or proxy voting. You must come in and vote in person. Please be prepared to show identification.