The Board Advisory Group is asking questions about the new owner of remaining of VG East lots in the Single Family Village. I have not been provided answers to most of those questions, but in an attempt to clarify things - I compiled the following map of remaining Victor Gardens East Single Family Village. The map includes remaining CPDC, Ryland Homes & Pratt owned lots. I believe it to be correct based upon the information that I’ve been given. The map may not be 100% accurate, but it’s pretty close. Also, it’s uncertain whether the areas near the wetlands (colored in aqua) will be owned by the new owner, or someone else.
January 7, 2008
Questions of Victor Gardens Future
The Board Advisory Group recently asked questions of CPDC regarding the future development and the state of Victor Gardens Community Association (the master HOA). With discussion of a new owner, “The Beard Group”, these questions are just as relevant now as they were before. The Board Advisory Group is interested in finding answers to these questions. Below you’ll find a outlined list. Homeowners are encouraged to add to or discuss anything you see below by using the “Comment” features.
1)Questions about Victor Gardens East’s new owner “The Beard Group”
a)What other residential developments has the Beard Group been recently involved with?
b)Are there plans to build houses by individual builders or all one builder?
c)Who will control the VG Architectural Review Committee?
d)How does the new ownership affect the VGCA?
i)Does the new owner affect the makeup of the Board of Directors?
ii)Who will have controlling interest on the Board of Directors?
iii)What changes will be made with new ownership?
iv)Who will control the VGCA budgets?
v)Will Community Development Inc. remain as community managers?
e)Does the new ownership affect the percentage of lots "sold" (in regards to homeowner control of the VGCA)?
f)How does the new owner view the original vision of VG’s “master plan”?
i)Will the new owner follow or modify this plan?
g)Will the new owner complete the construction of the developer’s unfinished projects?
i)Permanent Postal Stations for residents on Grantaire Lane?
ii)Landscaping, irrigation, park structures, benches on Grantaire Lane’s cul-de-sac?
iii)Trail connection (over a bridge) between Grantaire Lane lots and Pratt’s Creekside Villa lots?
iv)Street connection of Garden Way & Val Jean Blvd. near wetlands/pond area.
h)Does the new owner have a marketing plan to sell lots and build appropriate homes?
i)Is there a budget for marketing?
(1)Sales Office/Brochure Boxes?
(2)Website update?
(3)Builder Signs?
(4)Lot ID signs?
(5)Advertising?
2)Questions about CPDC's current involvement in Victor Gardens.
a)Does CPDC only own 14 unsold lots in the Single Family Village?
b)Does CPDC still own other properties within the overall VG site?
3)Questions about CPDC’s future involvement in Victor Gardens
a)Will the current financial health of CPDC affect VG in the near future?
i)Please address how financial status of CPDC’s other developments might affect VG. (Towne Lakes, Inspiration, Glendalough, Mayo Woodlands, Harmony Village, etc)
(1)Is VG in better or worse financial shape than those other developments?
(a)Example: Recent news reported foreclosures and Sheriff’s auction in Inspiration. Is VG’s remaining 14 lots next?
(2)Are more defaulted CPDC loans in VG's future?
b)Will CPDC still be represented on VGCA’s Board of Directors?
4)Questions for VGCA’s Board of Directors about the VG’s future
a)Homeowners are concerned about the current housing market’s effect on the future character and value of VG:
i)Who will control the Architectural Review Committee (ARC) in the next year?
ii)How will the ARC scrutinize new homebuilding and landscaping?
(1)Which architectural and landscape guidelines will be used going forward in the remainder of VG’s Single Family Village?
(a)The “West of Clearwater Creek” standard? -or-
(b)The “East of Clearwater Creek” standard?
b)Homeowners are concerned about VGCA’s budget issues:
i)How will the Board prevent unpaid invoices causing vendors to stop servicing VG?
(1)Will the City turn off VGCA’s water?
(2)Will Early Bird stop mowing common areas?
(3)Will the pool be cleaned, etc?
ii)What are the Board’s plans for paying off old debts?
(1)Negotiate with vendors?
(2)Payment Plans?
iii)How will the Board adjust the budget for next fiscal year?
(1)Increase income with “developer contributions” & financial help from builders?
(a)Does the Board intend to ask the new VG East owner to make “developer contributions”?
(b)Does the Board intend to ask Pratt, Ryland, David Bernard, etc. plan to make “developer contributions”?
(2)Will the Board have to cut amenities next year?
(a)Pool?
(b)Neighborhood Activity Center?
(c)Annual plantings / garden budget?
(d)Fountains?
(e)Mowing?
(f)Snowplowing?
(g)Other?
c)What is the status of townhomes not currently under a sub-association?
i)Will those units be consolidated into an existing sub-association or begin another sub-association?
January 6, 2008
Beard Group Expected to be New Owner of VG East
In an email today from Homer Tompkins, President of CPDC explains that Pete Scherer will not be the new owner of the remaining VG East lots in the Single Family Village. Another developer “The Beard Group” will purchase the lots. Mr. Tompkins email is reprinted below:
“Mark, the new owner for VG East (26 lots) will be The Baird Group and not Pete Scherer. The Baird [Beard] Groups offer has been accepted by the Bank and closing is tentatively scheduled for the 7th of February but no exact date has been set. I am not authorized to represent them as the new owner of these lots but I have taken the liberty to provide them the letter you sent to me with questions in hopes that I could get them to attend any meeting requested prior to closing. At this point, they are still in their due diligence of their contract. On Friday, they met with Pat Brinkman, our HOA attorney to gain an understanding of VG’s Master and Single Family Traditional neighborhood HOA and how its run. I will visit with them on Monday as well as our attorney to make sure we all understand how a new owner of 26 lots is affected by the existing agreements.
We are proposing to the Baird Group a 60 day turnover transition to help assist them in gaining a full understanding of all responsibilities and on going obligations to the community and the City. They are excited about owning these lots and are appreciative of the opportunity and very respectful. I know they have had conversations with several of our existing and previous builders so indications are that they will continue the traditional neighborhood vision that we began. But I would like to introduce them to the community as soon as possible so everyone can hear from them directly. In regards to HOA shortfall, I do believe they will help contribute to back due amounts and honor the responsibilities moving forward but they can not be responsible for all shortfall because they are only purchasing 26 lots and should only be held responsible for their pro rata share. We will need a meeting with them, Len Pratt and ourselves to address the balance of HOA shortfall and commitments moving forward.
I have no control over the Banks decision on who they sell the lots to that were foreclosed upon. The bank bids in the debt at the amount owed and then sells the Sheriff Certificate to the new buyer. Even though there is a redemption period for me and any mortgage/lien holders affected by the foreclosure, it is virtually impossible to believe that anyone will repurchase the lots for the amount bid in at the Sheriff sale, so therefore I believe The Baird Group will become the new owners of these lots. At this point, we are early in our understanding of their firm but they represent themselves as knowledgeable developers who understand and appreciate the value of Victor Gardens and are excited about being apart of it. Nothing at this point has raised any red flags and I believe they will continue the vision of housing styles but obviously, they are at a much lower cost point than we were in the lots and could offer the lots for less money if they wanted. The important thing in my mind is not the price of the lots but the architectural consistency of maintaining values in the neighborhood. “
- Homer Tompkins
January 5, 2008
Links
A Few Links of Interest:
VICTOR GARDENS COMMUNITY INTRANET
Some detailed information can be found there. Username and password are required.
Recently updated. Includes future comprehensive plans, development updates, maps, and City government-specific information.
VICTOR GARDENS GABLES ASSOCIATION
A website for Victor Gardens’ Gables Association residents.
Our neighborhood’s
original marketing website
Hugo's Official Newspaper
January 4, 2008
Recycle your Christmas Tree
Gene’s Disposal Service of Hugo will be accepting Christmas trees for recycling this year. Current Gene’s customers, including VG’s Single Family Village, will be charged a small fee (less than $5.00) for picking it up and recycling it. Please call Gene’s office at (651) 426-1224 for arrangements. They’ll note your address and pick it up on their next trash-day visit.
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