A PLACE TO BE
Sunday, April 19, 2015
A TIDBIT
This Declaration of
Covenants, Conditions, and Restrictions (CC&Rs) was recorded with the
register of deeds during the initial phase of our planned community’s development
and it governs what an owner may, may
not, or must do with respect to our Village’s real estate, and in Article X-B’s
case, our common grounds.
Article X-B is clear that
there shall be no material alterations or substantial additions to the Common
Elements unless authorized by our Board of Directors and affirmatively ratified
by 75% of the voting members of the Association “present” at any regular or
special meeting called for ratification. It’s pretty straight forward having only
one gray area, what is substantial. Should one use our board’s substantial dollar
amount precedence with the maximum a manager may spend before oversight or the dollar
amount that requires three bids?
Substantial though has yet
to be an issue for just one reason. A Board has never ever tried to call for a
ratification meeting. Why is that? We will see what the attorney says.
Comment
Comment
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment