The purpose of the homeowner vote was to be let our homeowners know that some of the reserve funds would be going to this project. Once we got the nod, a huge amount of work had to be done to craft an agreement between Welk and our Association to cover the complex land arrangements, the multitude of project-related and future maintenance responsibilities, the insurance requirements, and many other facets. We had to do some research into the land issues, plus do a fair amount of negotiation with Welk.
We wanted to make sure to craft an agreement that was win-win for both our organizations, with a fair amount of accountability on a variety of issues. We went from no agreement (and a simple phrase in the Welk-Falcon Lakes agreement) to a 14-page comprehensive agreement that went through numerous revisions by our board members and legal team, and Welk’s managers, risk and legal teams. It took this long to reach agreement on all points, but we now have an excellent agreement that will take our relationship with Welk decades into the future.
Now that the agreement is signed, contractor agreements and insurance are being reviewed and approved by both sides. The contractors are coordinating their schedules and ordering materials. Actual work is expected to begin around July 6, 2015.
← We voted on this back in March. Why hasn’t anything happened yet?