Passed! Third Amendment to Master Deed and Bylaws passes with 68 "YES" votes

Post date: Feb 14, 2013 7:34:13 PM

The Third Amendment to the Master Deed and Bylaws has passed with 68 "YES" votes (57 needed to pass). The passing of this amendment is excellent news for the association for numerous reasons:

• • Make it financially feasible for the two vacant lots in Phase 1 to be developed into two buildings with eight total units (four Lagunas and four Barclays).

  • Potential for nearly $27,000.00 (annually) in dues assessments coming into the association from these additional units once they are built and sold.

  • More dues coming into the association has the potential to reduce the need to raise dues periodically.

  • Obtain FHA certification which:

    • Allows for mortgage options for buyers and sellers.

    • Shortens the time it takes to sell both existing and new units.

    • Potential for homes values to rise in the long-term.

Thank you for voting!

Sincerely,

Ken, Jim, Paul, Anne, and Bob - Bromley Park Condominiums Board of Directors