By now many have received the POA president’s letter to the community which was recently e-blasted. (1) The letter briefly discusses the Master Plan and outlines some of the provisions of the $5,000 capital contribution fee which will be included in the ballot package. Notable provisions include the discussion of exemptions such as transfers to family members, etc. , however, one very important exemption that pertains to the developer is not discussed in the letter. Ordinarily, the fee would be $5,000 for a home and $2,500 for a lot. An additional $2,500 would be due from a lot buyer when a home is built on the lot. However . . .
The POA board has agreed to grant the developer an “exemption” from this capital contribution fee.
As explained at the November board meeting, the developer has come forward to assert his “right to veto” the proposal unless he is granted an exemption to the capital contribution fee. (2) Rather than contest this through legal avenues, the board has elected to grant the developer an exemption. It was noted that the approximate 50 lots owned by the developer would represent only $125 – 250,000 in lost revenue in order to capture the fee from the remaining property owners that will not enjoy the same privilege. Further, will that same exemption apply if the developer chooses to develop additional lots contiguous to Big Canoe?
This exemption alone is enough reason to vote “No” on the proposed capital contribution fee.
Just one more followup . . . the 2020 Operating Budget was approved by the board at the November 21st session. (3) This budget includes a $25 assessment increase to also be used for master plan capital projects. This increase will generate $952,149 additional revenue in 2020 and is separate from the $5,000 capital contribution fee requested by the board.
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Likewise, if you have questions or would like further discussion, I can be contacted at thepcrosses@gmail.com.
Patricia Cross (10438 Big Canoe)
References:
1 Letter to the Big Canoe Community from the POA Board President – (POA website>login>POA>community overview>email notifications – 20 most recent>11/22/2019 Letter to Big Canoe . . . )
2 Board of Directors Meeting, November 21, 2019 – (POA website>login>POA>meetings>videos>NovemberBoardMeeting)
3 2020 Operating Budget – (POAwebsite>login>POA>community overview>email notifications – 20 most recent> 11/19/2019 Board Meeting Thursday, 11/21/2019, 2020 Operating Budget)
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Thank you a million times for your research and time spent to put the truth out there.
We truly appreciate this.
Time to get a complaint in to the Attorney General for the State of Georgia or to the Justice Department.
He developer needs to be reigned in and if the POA Board is too lame to challenge the developer then maybe individual owners need to challenge both the Board and the Developer through the legal system.
Any leaders worth their salt would tell the developer they were going to legally challenge the agreement. They may have just pushed the right button to get me into motion.