Received 2012 annual budgets for Units 5, 7, 9 & 10S — all I received for Unit 8 was a postcard announcing a quarterly meeting on 9 April 2013 at 6pm in the Corona de Tucson Fire Department. This will be my first time at the FD.
Conspicuously missing were budgets for the Master Association (note how much money each HOA gives to the Master Association), Units 2 and 8. As you know, Unit 2 is almost full of houses, Unit 8 has developed Phases 1 & 2. (How do you like living next to a vacant lot? Russo is supposed to help us lot-owners sell to builders.)
Annual meetings for the other Units will be 25 April 2013 at the Sycamore Elementary School at 6pm.
Attached were the minutes from the 18 June 2012 annual meeting. Russo said at the meeting:
. . . earth should be moved [in Unit 5] within the next sixty days. . . . A special assessment to owners in HOA #5 will be necessary due to projected development costs of infrastructure. Estimated amount is $10,000 per lot which will be assessed in ‘take down’ phases as the subdivision is developed. No dirt has been moved and last I heard from Russo, the assessment will be $15,000.
“Take down” means the SW corner, Phase 1, about 50-lots, eight of which are the subject of my lawsuit.
Minutes also have a Motion/question by Raquel Baranow (me), seconded by Steve DeGregorio (it’s his cabin in the header-pic at the top of this blog): “Why are fees having to be paid in Units 5, 7, 9, 10S & 10N and HOAs in existence?” No answer was given. I made a motion, seconded by DeGregorio to waive all HOA fees in #5, 7, 9, 10S and 10N. Motion did not pass.
Q: Do proceeds from litigation go towards reduction in HOA fees? A: Proceedes were deposited into a Certificate of Deposit for Reserve funds that will help defer costs of future development of the infrastructure of subdivisions.
Minutes of the meeting also said the litigation against Arcadis for HOA #5 is moving forward and majority owners are feeling confident in succeeding with receiving proceeds from the lawsuit.
Arcadis was paid $1-million by the prior majority lot owners for plans that Russo said were “garbage.” According to court records (sv ”Arcadis” or case #C20092062), this case was dismissed in 2010. Maybe they mean case #C20106206 against Innova/Pattison, which settled for $50,000, 14 march 2013.
Comparing the budgets is very confusing! Doesn’t look like the settlement money from Arcadis made it in to the budget, what do you think?
UPDATE: Unit 2 Budget and Minutes from June 18, 2012
Received the Unit 2 budget in the mail, it shows $145,778.21 added to the budget in October. . . Wonder what that was from???
Development Updates: Steve Russo
- Home building continues at about 2.5 -3 homes per month.
- There are 28 lots left to finish out development.
- KB Homes is expected to take down another group of lots in July. Once this is done, NT Properties will no longer be a majority owner and expects to turn-over the Board to the homeowners with very little interference from the Developers.
There is no record of NT Properties (or their shell company, PRD Investments LLC) selling any lots to KB Homes. This meeting will be interesting.