UPDATE: Per the HOA meeting 11/6/19, $720 is the official, third-party CPA validated and final amount of the annual HOA dues increase.
- Are we selling the HOA’s front lot where the swimming pool and tennis courts are located?
No. The HOA Board received a letter of intent from a developer who was interested in purchasing the property for $4.5 million. The property was appraised for $4 million, but the HOA was informed at the last meeting that the Board turned the developer’s offer down. The lot owned by the HOA is not now, nor has it ever been, listed for sale by a broker. No one is advocating or planning to sell it in the future. The clubhouse purchase will be accomplished via a dues increase, and the amount of the dues increase will be sufficient to cover acquisition, operation, and maintenance costs. Moreover, a sale of the front property would require a much higher voting threshold as well as approval from mortgage holders.
- Why is it a good idea to acquire the golf course land and former golf course clubhouse if the community votes to do so? Some of the potential reasons for this purchase are:
- It may protect or enhance property values.
- It will enable the community to determine how the property will ultimately be owned and used, thereby reducing uncertainty.
- It ensures that the property will be maintained at the same class A level as existing HOA common area.
- It provides the community with the opportunity for a new identity as a greenspace community on Lake Manassas with five miles of walking/jogging/biking trails.
- It provides a central space to gather for HOA meetings, community events and parties, clubs, pot lucks, cookouts, childrens’ activities, snow day activities, senior events, etc.
- How did the offer come about?
The Board was made aware that multiple offers had been received by the golf course owners for purchase of the clubhouse in late August. At that point, the Board asked the GC owners to provide the general terms under which a Letter oflntent from the HOA would be considered competitive against other offers in hand. A copy of the resulting email from the GC owners was subsequently sent to all HOA members who have signed up to receive email correspondence. The Board subsequently voted to submit a Letter of Intent under those terms set forth by the GC owners. Despite the rapid turnaround, the HOA is protected by a 60-day study period and contingency for HOA voting approval.
- What are the terms of a proposed acquisition of the land and former clubhouse parcels?
The Virginia Oaks HOA has offered to buy the clubhouse parcel, 19+ acres around it, plus all the land belonging to the former golf course except for the 2 acre maintenance shed lot on Route 29 and the 10 acres along the peninsula that were purchased by the Boones in May 2019. The total purchase price is $1,750,0000.
- How would we pay for that purchase?
The HOA intends to obtain a 15 year loan for acquisition and renovation costs combined, secured by future assessments. The lender that has been chosen is Wintrust Community Advantage, a bank specializing in association loans. The loan will be a IO year fixed rate at 4.15 percent (first year the loan is a line of credit) and then variable for the remaining 5 years.
- What else would the HOA have to pay for?
There are some known repairs that need to be made to the clubhouse building. For these expenses, the HOA intends to use the 15 year loan referenced in Question 5.
- How much would the purchase cost individual homeowners?
At the moment, the preliminary figure still looks to be around $720 per year per household in addition to existing dues. The HOA Board is currently reviewing and refining the budget to ensure future operating and reserve expenses are adequately reflected in the proposed dues increase. The HOA Board is considering all possible expenses that the HOA will incur should the purchase take place, including, but not limited to, landscaping, security systems, reserve increases, financing costs, utilities, snow and trash removal, and many other line items.
A 30-year “reserve study” was recently conducted on the clubhouse and land by an outside, independent engineering firm. This study maps out all maintenance and repair expenses related to the new facilities and how much those expenses will be in the year when they are made. The study is in-line with what has been projected. This confirmed number will be folded into the projected budget.
Again, by the time HOA members are asked to vote on anything related to the clubhouse and land acquisition, the Board will ensure that all in the community can have complete confidence in the operating and maintenance numbers and will provide full explanations for how those amounts were derived.
- What repairs need to be made to the clubhouse immediately?
The HOA Board and original Steering Committee commissioned a professional commercial inspection of the clubhouse facility from an outside engineer in May. Based on that inspection, R.W. Murray builders provided estimates for the completion of all required repairs. The clubhouse needs a new roof, new hot water heater, and potentially the replacement of some of the smaller HV AC units. There is wood damage and some water damage, including interior ceiling damage, that needs repair, and there are minor repairs to be made throughout. The building needs to be painted and sealed and the parking lot needs to be resurfaced. The loan that will be used to finance the purchase will also include an additional sum to account for these repairs, making the total loan amount $2.5 million at most. The $720 proposed dues increase assumes a loan of $2.5 million. Therefore, all repairs to bring the facility to a usable and stable condition were accounted for within the provisional proposed $720 annual fee increase, and those numbers are being refined and validated. A 30 year maintenance “reserve” study has already been completed and an updated inspection of the building will also be completed as soon as possible. Any adjustments to planned repairs or budget items will be made so that all figures and calculations are updated and validated prior to voting.
- What maintenance needs to be done to the land and paths after the HOA acquires it?
The areas around the clubhouse and along the street frontages need to be cleaned up and cleared of weeds. Approximately 7 acres of golf course property abuts our street frontage and will need to be maintained, as well as approximately 4 acres surrounding the clubhouse. Some plants and visible trees that have died may need to be replanted. There are trees that have fallen across the cart path, bushes and limbs that have grown over it, and weeds that have grown up around that. The HOA will want to clean that up and keep it clear. The irrigation system around the clubhouse needs to be repaired. The HOA has included within its repair estimates a line item for initial landscaping work to bring the golf course property in line with current HOA common area. The HOA will want to mow on either side of the path and control weeds that grow in the cracks between the concrete sections. The HOA will need to cut brush around the stormwater ponds and water features and do some basic repairs. Then the HOA will need to hire a company to treat for algae and duckweed occasionally. The HOA will also want to remove the netting on the former driving range and will look into having the posts removed as well.
Funds have been included within the provisional proposed $720 annual fee increase to account for all these costs completely.
- What golf course property will be maintained after the HOA purchase?
All golf course street front property and about 4 acres around the clubhouse will be maintained to the same Class A standard as HOA property is currently maintained. The immediate (one mower width) area on either side of the cart path will be mowed every other week and the path will be kept clear and free of weeds. The ponds will be cared for, although dredging the ponds is County responsibility. Individual homeowners will have the option to submit an application to trim or otherwise maintain areas behind their homes or between and around the newly planted trees in the Nutrient Bank, as long as that maintenance doesn’t violate the Nutrient Bank restrictions. Once such approval is received, this maintenance can be performed by individual homeowners or by a contractor hired by the homeowner.
- What if we want to add additional amenities later, like a dog park or additional parking for the townhomes?
Having the extra acreage would allow the HOA flexibility to add additional facilities in future. Such amenities are not currently being budgeted, but may be considered if additional savings can be found within the renovation budget.
- What is the timeline anticipated for the decision to purchase and the purchase itself?
• Mid-October: Budget calculations, reserve study completion, preliminary loan approvals
• Late October: Sign final Purchase Agreement
• Late October to Late December: 60-day study period during which homeowner approval will be sought
• Middle of December: Final HOA voting
• October to End of December: Terminate Purchase Agreement, if necessary, without financial penalty
• End of January: Settlement on property purchase
• February: Begin process for property cleanup and renovation after appropriate bids from contractors
- What will be happening during the study period?
The HOA Board will be examining the condition of the property, verifying legal title, conducting a structure and property inspection, and finalizing the financial information.
An appraisal of the property may also be conducted, but the loan will not be impacted by that appraisal since the loan would be backed by future HOA fees and not by the property itself.
- What is the property worth?
It is hard to use any type of objective standard or value to determine what the property is worth to the Community, as the golf course is an integral part of the community. That being said, the golf course owners received 5 other offers, at least two of which included offers to purchase the land and the clubhouse. The HOA Board believes it made a competitive offer in light of the all the offers that were made. Seven years ago, the Clubhouse parcel alone was assessed at $3,450,000.
- Would it be possible for homeowners to look inside the building?
The Board will hold an Open House at the Clubhouse on November 2nd from 4:30 to 7PM. The November HOA meeting will also be held in the clubhouse. Also, on November 61h, from 7:00 to 9:00PM, the Board will hold an informational meeting at the clubhouse to present additional details and to give residents an opportunity to ask questions.
- What happens if the HOA members don’t vote to approve the purchase of the clubhouse and property?
The HOA then has the right to terminate the purchase agreement and the golf course owners have preserved the right to accept a backup offer. The HOA Board is not aware of the terms of the backup offer, who made the backup offer, or what such an offer would mean for the community.
- What approval is required from homeowners for the purchase to go through?
There will be one vote, and it will contain two questions. The voting requirements for each question are slightly different.
The first question is whether homeowners are willing to approve a loan to acquire and renovate the clubhouse. This question will require approval from 2/3 of all homeowners.
The second question is whether homeowners are willing to increase annual HOA dues to pay for the cost of acquisition, operation, and maintenance of the clubhouse and property. This question will require approval from 2/3 of a special quorum (a percentage of homeowners) who vote. The initial number needed to meet that quorum is 60% of all homeowners.
In reality, given the above voting structure, it will take 2/3rds of ALL homeowners voting YES for the purchase to go through. Not voting is a vote against.
- Do we need to change our Bylaws or Declarations documents?
No. As long as we obtain approval to finance the purchase through an HOA feebacked loan, no change to HOA documents will be needed. As long as we obtain the necessary approval from HOA members, the HOA will be able to obtain a single 15-year loan for both the purchase and renovation costs within the no-risk study period.
- How will voting be handled?
With respect for all residents and our bylaws, the main voting method will be done electronically under the control of a third party. The voting will not occur until the board has provided all relevant information to the homeowners. The board is targeting the electronic voting to begin in mid-November. There will be an in person and proxy vote that will supplement the electronic vote that will occur in midDecember to ensure all homeowners have an opportunity to vote. Additional procedures are still being investigated and will be discussed with the HOA attorney.
- What happens if an HOA member doesn’t vote? Does that matter?
Since one of the two questions needed for approval requires approval from 2/3 of all homeowners, not voting is the same as voting no.
It is critical that all homeowners vote one way or another.
- Will the HOA lose the $100,000 deposit if the HOA does not vote to acquire the land and clubhouse?
The vote is anticipated to be completed within the 60 day study period allowed under the Purchase Agreement. Within that 60 days, the purchase can be terminated by the HOA at no penalty and with a full refund of the $100,000 earnest money deposit.
- Will the HOA lose the $100,000 deposit if the HOA can’t get a loan for the downpayment and renovation costs?
No. The HOA Board is close to obtaining favorable terms from a lender, and additional preliminary conversations between the HOA attorney and other banks make it clear it should not be a problem to obtain a 15 year loan term for both the acquisition and renovation costs. During the study period, termination of the purchase agreement can occur without risk to the $100,000 in earnest money deposit.
- What is a Nutrient Bank and how does it involve Virginia Oaks?
To reduce environmental impacts, developers have to consider how their projects will impact the environment. Under Virginia law, instead of taking environmental measures directly on their projects-which sometimes isn’t possible-they can instead trade credits generated by environmental savings elsewhere in the region so that the overall environmental impact balances out. They pay for this credit, so there is incentive for someone elsewhere in the region to use land in a more environmentally beneficial way to generate “credit” that can be sold or traded. This is a one-time credit-but the change in the way the land is used is lasting. The environmental credits created by a single property form a Nutrient Bank.
In Virginia Oaks, the golf course owners planted trees on much of the golf course to reduce the amount of certain elements such as nitrogen and/or phosphorous that were involved in how the property was previously used. This created a one-time credit that they could exchange through a brokerage. Now that the Virginia Oaks Nutrient Bank has been established, the land must remain planted with trees and certain restrictions will apply to how it is used.
- Many of the trees planted in the Nutrient Bank have died. Would the HOA be required to replace those tree?
No. First, the trees were planted at a higher density to account for some anticipated problems. Second, some of the trees may come back-transplant shock can make a tree go dormant for a period before it comes back. Finally, maintaining the trees is the responsibility of the Nutrient Bank “Sponsor,” which is Conservation Plus, not the responsibility of the “Landowner,” which would be the HOA. The HOA is required not to cut down the trees and to abide by the terms of the restrictive covenants which prohibit activities that would negatively impact the ability of the property to maintain its environmentally friendly status.
III. Monitoring, Maintenance & Reporting
B. Maintenance Criteria – The landowner will maintain the land conversion areas as needed to ensure that conversion activities are providing the nutrient reductions as detailed in this plan. If the Sponsor identifies any areas during the periodic site inspections that require remediation, the Sponsor will undertake activities necessary to bring these areas into compliance
Source: Virginia Oaks Nutrient Bank Nutrient Reduction Implementation Plan, pg 5, 5/17/2019
- Who owns the Nutrient Bank?
The Virginia Oaks Nutrient Bank has already been established on parts of the property by the former golf course owners. They planted the trees and put
Conservation Plus in place as the Nutrient Bank “Sponsor.” Conservation Plus acts as the Broker for trading the nutrient credits, and they will be responsible for ensuring that a specific density of trees is maintained on the property in compliance with the restrictions and covenants that were put in place as part of the Virginia Oaks Nutrient Bank. The HOA, as the new Landowner, would not be responsible for any of that. The HOA will have to comply with the restrictions of the easement. For example, the HOA and homeowners cannot cut down the newly planted trees nor introduce nonnative plants. There are restrictions on types/quantities of herbicides and pesticides used on the newly planted areas of property.
V. Other Criteria
F. Duty of Property Owner- Property Owner, its successors and assigns, will be bound by and be compelled not to violate the Restrictive Covenant, which is designed to sustain the nutrient reductions achieved at the Bank in perpetuity.
Source: Virginia Oaks Nutrient Bank Application, VA DEQ Nonpoint Source Trading Coordinator 5/17/2019
- Do the Nutrient Bank restrictions apply everywhere on the property we are purchasing?
No. Within the Nutrient Bank, there are land “conversion” areas and “nonconversion” areas. Areas that have been recently planted with trees (converted) generated “credits” which result in a one-time payout for reductions in specific elements that have a negative environmental impact (nitrogen and/or phosphorus). The Virginia Department of Environmental Quality (DEQ) imposes restrictions on those conversion areas to ensure that the environmental impact reductions continue. Any other areas that did not generate credits (non-conversion areas) do not have restrictions. The HOA can cut existing/mature trees in non-conversion areas to build a pavilion or parking lot, for example, or trade an existing non-conversion area of mature trees or brush for a conversion area acre-for-acre. In other words, the HOA would have a lot of flexibility.
- 1. Non-conversion areas, property covered by existing woods or brush at the time the Nutrient Bank was created (July 2019) could be built on with no impact to the Nutrient Bank.
- 2. Conversion areas of the Nutrient Bank, those planted with trees in spring of 2019, could be used with DEQ approval if a corresponding acreage of HOA property was planted in exchange.
- 3. Conversion areas could be removed from the Nutrient Bank by purchasing credits from a different Nutrient Bank at market rates.
- Can we improve the appearance of Nutrient Bank areas that now look bad or hurt our views?
The Nutrient Bank restrictions and covenants spell out what can and can’t be done to conversion areas of the Nutrient Bank. Specifically, the HOA can’t cut down trees. If the HOA owns the land on which the nutrient bank sits, an application process will be provided to allow homeowners or the HOA to clean up grass and underbrush and perform some maintenance that would make the area look better. Non-toxic pest control can be used and native shrubs and plants can be established at the edges of conversion areas to keep weeds from encroaching into yards. The HOA is unlikely to undertake this as an Association in areas behind homes, but individual homeowners can decide whether to do that on their own. Again, an application process will be provided for this.
Landscaping costs projected currently as part of operating expenses for the acquisition will cover golf course areas that front the street, approximately 4 acres of the clubhouse area, mowing along both sides of the cart path, and pond care. The HOA would secure professional guidance and work with the Nutrient Bank Sponsor to help the community understand the rules and to find ways to work within those rules to give the HOA and homeowner’s guidelines, assistance, and flexibility to improve the appearance of areas behind homes and throughout the community.
III. Implementation Description
Probable Species: The Sponsor will be installing coniferous and deciduous species. Volunteer forest species will likely include cedar, red maple, sweet gum, and other successional species depending upon the location within the Project Limits of the land conversion area.
Trees/acres: The Sponsor is targeting the initial establishment of a minimum of 400 stems per acre to include both installed and volunteer species. Installation rates will average between 500 to 600 stems per acre. Supplemental plantings may be implemented if necessary, to maintain a minimum of 400 stems per acre. Fertilizers/herbicides: The landowner and project Sponsor will not use any fertilizers in the land conversion areas to assist in forest establishment or at any time while nutrient credits are being generated and transferred for permitted activities. The Sponsor may use Oust or similar product to assist the installed species with survival and growth during the stages of development in former urban pervious areas. Areas undergoing urban pervious to fallow conditions may utilize the use of herbicides for vegetation control in conjunction with mowing or brush hogging which is considered routine maintenance for access or use of the Project Limits by Landowner and easement holder.
Source: Virginia Oaks Nutrient Bank p.2 Virginia Oaks Nutrient Bank LAND CONVERSION AREA MANAGEMENT PLAN August 1, 2019
- What will it cost to insure the golf course land and clubhouse?
Farmer’s Insurance quoted a price for insurance that is already included within the provisional annual fee increase that is being refined by the Board. This price has now been updated to include all property and liability for the acquisition plus current property. Current property coverage has also been significantly increased to allow for full replacement cost. The final price is approximately $5,000 more than is currently paid by the HOA for existing coverage and Virginia Oaks facilities. Farmers walked the entire golf course property and determined that the land will fall under Virginia’s recreation laws. The former cart path will be treated as a “paved trail,” so while the HOA will do its best to keep it clear of weeds and brush, anyone who uses it will do so at their own risk-not the HOAs.
- How would acquisition of the clubhouse and golf course parcels impact HOA taxes?
Once property is brought into the HOA, the tax on it drops to zero. The tax for open space used as a nutrient bank/recreation is also zero. Therefore, our only
liability for increased taxes would be for the clubhouse, and only until the HOA vote to incorporate the property into the HOA. The HOA can cover the cost of that tax within the provisional proposed annual HOA increase that is being validated.
- Would the proposed annual fee increase put us out ofline with other communities in the area?
Owners of single family homes in Virginia Oaks pay $1000 in annual dues, and town homes pay $1120. This places Virginia Oaks as having the 6th lowest dues among 18 local communities. Virginia Oaks only ranks 4th from the bottom, though, in terms of the amenities (value) offered for that money. With the proposed anticipated annual increase, single family homeowners in Virginia Oaks would still pay dues just above the $1,666 yearly average among the 18 local communities. However, the HOA would become the only community among those 18 to offer five miles of private walking trails and 130+ acres of permanent green space.
- Will we have to rezone the clubhouse and property?
The change to allow the HOA to use the clubhouse lot will require the parcel, or a portion of the parcel, to be for community facilities use. Simultaneously, there will be changes needed to our Proffer (zoning) document, including the correction of some outdated items. Per Prince William County:
“The baseline change to allow community facilities on the clubhouse parcel is a straight forward request. Once community consensus is reached, I would expect a proffer amendment for this change to move through the process relatively quickly. Our office is supportive of finding solutions with the Virginia Oaks Community.”
Source: Meika Daus, Current Planning Manager, Prince William County Planning Office, 9/3/19.
- Why are we paying more for the property than was budgeted in the original options presented by the Steering Committee?
At the time of their presentations to the community, the original Steering Committee recommended $SOOK for the land and clubhouse, which is roughly the value of the last tax assessment on the property. To be clear, there was never a formal offer to purchase for 800k, and even if there had been, it would have been a starting point. There is no guarantee that the HOA could have obtained the property for that amount and since that time, at least 5 other offers have come in, driving up the price.
- Can we be sure there were really multiple offers and how do we know who they were from?
The HOA Board confirmed that there were 5 other offers. As with any real estate transaction, the terms of those offers and the potential purchasers is not going to be divulged.
- Does anyone on the Board, or any other committee, have a conflict of interest, or benefit personally, if we acquire the land and clubhouse?
No member of the Board nor any other committee will receive any additional benefit from the purchase of the clubhouse and the property. Likewise, the Board members and committee members have no conflict of interest. The Board and committee members will receive the same benefits as all of the other homeowners in Virginia Oaks.
- How will the golf course land and clubhouse be used if we acquire them?
A number of use options have been discussed, including 1) HOA meetings and storage 2) community parties, gatherings, movie nights, potlucks, and BYOB Friday nights at the bar 3) fire pits and cookouts 4) meeting areas for clubs and social groups 5) children’s play groups and snow day facilities 6) fitness classes and boot camp 7) art classes 8) senior group activities 8) rental for homeowner parties and events 9) potential rental by the Chabad 10) community garden
Additional uses and enhancements that may occur further down the road, budget permitting, include: 1) a dog park 2) exercise stations along the cart paths 3) enhanced fitness area 4) family playground and pavilion area.
There will be many more ideas, and the HOA Board wants to encourage everyone to put on their thinking caps. There are numerous options that could enhance and benefit the community.
- Who will manage the clubhouse and property?
Our management company will handle reservations for residents who wish to rent the clubhouse for parties/events, and a signup board or other mechanism will be established to handle reservations for club meetings, etc. As with our other HOA facilities, the Board (with support from volunteer committees) will oversee management of the clubhouse as well. As with all aspects of this community, we will continue to call on and utilize volunteers. But the repairs, maintenance, and landscaping will be left to professionals as included in the projected budgets.
- How can we be sure that we won’t have to keep increasing HOA fees to pay for operating the clubhouse and property?
The Board is investigating all aspects of the potential purchase to ensure that the purchase of the clubhouse, and its ongoing operation, will not be the basis for an additional dues increase in the future. However, the community has had virtually no increase in dues over the last ten years, so minor increases to account for our current operating budget (not inclusive of possible golf course operating expenses) may be necessary to keep up with inflation. This would occur regardless of whether the golf course is purchased.
- How do we know there won’t be unforeseen expenses related to the clubhouse that would force us to sell the front property a few years from now?
To answer this question, it is important to understand how an HOA manages its assets and facilities. Facilities are managed according to guideposts set out in a “reserve study” which is a legally mandated report created and updated periodically by an outside engineering firm. The reserve study examines current conditions of all facilities, down to fencing and parking lot paving, plus HOA finances. It sets out a year-by-year schedule for when repairs need to be made to everything the HOA owns. The study also tells you, after adjusting for inflation and escalation, how much those repairs will cost. This then let’s the HOA set aside enough money in a “reserve fund” to cover those costs when the time comes. If there isn’t enough money, the HOA Board must find savings somewhere or increase annual fees enough in advance so that the money will be there when needed. This study has been completed and has been incorporated into the budgeting projections.
- What would happen if the HOA couldn’t afford the upkeep on the clubhouse or property or couldn’t repay the loans?
The Board is independently reviewing future operating costs and reserves necessary to ensure that the recommended dues increase will cover funding needed to maintain the clubhouse and former golf course property, make the necessary renovations, and repay the loan. Unforeseen circumstances, whether we own the golf course property or not, could arise that could necessitate dues increases in the future; this will be handled in accordance with our bylaws and declarations.
- If the HOA purchases the Clubhouse and golf course property, will it be brought into the HOA land inventory and common area?
At the September 24th meeting, the HOA attorney made it clear that the property cannot be annexed into the common area until the HOA has completed the purchase. For that reason, the initial vote will be two simple questions per FAQ #17. After acquisition, we should hold a final vote to bring the property formally into the common area of the Association. This would have the advantage of definitively making the tax liability $0 for all the newly acquired property. However, as the HOA attorney also made clear, the definition of common area in our HOA documents is broad enough that we can operate, maintain, and use the newly property immediately after purchase.
- How will we handle additional delinquencies, if any, that would result from increasing HOA fees?
The HOA attorney has informed us that he does not believe there will be a material increase in delinquency rates in event of the proposed dues increase. Delinquencies will be handled the same way that we currently handle delinquencies. Our HOA documents cover the process adequately, and the process would be handled by our HOA attorney. Per the HOA attorney, we have included a line item in the projected budget to account for delinquencies/collections. That amount is $10,000, which was suggested by the HOA attorney, and as noted above, is not a material or meaningful increase.
- What is the Lake Manassas monitoring fee and how will the purchase impact that?
When the developments at Lake Manassas and Virginia Oaks were being built, the developers entered into an agreement with the City of Manassas to obtain Lake Manassas frontage access and agreed to provide funds to monitor water quality changes from the use of fertilizers, herbicide, and pesticides at homes and the golf courses. The Virginia Oaks Lake Manassas Association was set up to manage the cooperation between the City of Manassas and the various golf course and homeowners associations in the two communities. The Virginia Oaks portion was shared equally by the golf course and the HOA. With the nutrient bank established, the lake impact from Virginia Oaks is substantially lessened, so it may be possible in the future to renegotiate the Virginia Oaks portion of the Lake Monitoring Fee. This is a complicated legal process, however, and until/unless it happens, the HOA will pay the golf course share of the fee (@$5,500) in addition to our own. This fee has been incorporated into the projected budget.
- What is the status of the rezoning for the Maintenance Shed lot?
The Maintenance Shed lot is being sold separately by the GC owners to a developer. The community is not involved in that sale and has no recourse to stop the sale. However, the Board is working with the golf course owners to negotiate deed restrictions on the sale of the property that would limit the types of business that could operate there to those that would be compatible beside a residential community. The Board is also negotiating to try to keep the Maintenance Shed lot within the Virginia Oaks Residential Planned Community (RPC), which would provide additional protections for the community. The HOA Board may also try to work out a joint Proffer Amendment process to reduce costs and keep the HOA as involved as possible in the rezoning process for this property. The Board is attempting to use the community’s potential purchase of the golf course as leverage to obtain as much protection as possible for residents when it comes to rezoning the maintenance shed lot.
- Will liens be placed on individual homes if we take out a loan to purchase the clubhouse and golf course property?
No. The loan would be backed by future HOA dues, not by a lien on the clubhouse property, HOA property, or individual homes. Beyond being responsible for paying the additional annual HOA dues increase, individual homeowners in Virginia Oaks would have no additional obligations while they own their home. Once a home is sold, the next owner takes over paying future HOA dues, and the seller has no remaining responsibilities.
Download the PDF version of these FAQs (identical to above) on HOA letterhead here .