Special Projects Dec 06

Arbor Lake Homeowners Association

Special Meeting Notice

 Meeting Date: January 18, 2007

Time: 6:30 pm

Place: Norman Public Library – Lowry Room (large meeting room)

This special Members Meeting is for the purpose of voting on proposed projects for the neighborhood. There will be four propositions:

 Proposition 1: Develop the Association-owned lot.

 There are several alternatives for this proposition and we need to decide before the meeting which ONE to place on the ballot. We are asking for member feedback on the following options:

A.      Sell the Association-owned lot back to the builder at the original purchase price according to terms of our original agreement.

B.     Keep the Association-owned lot and defer development to a later date.

C.     Build a park on the Association-owned lot that would include a wrought-iron fence, lighting, playground and park equipment, landscaping, and parking spaces. Approval of this option would require yearly dues to be increased to $250 and increase the maximum Association debt limit to $125,000.

D.     Build a pool and park on the Association-owned lot that would include a wrought-iron fence, lighting, playground and park equipment, landscaping, parking spaces, an approximately 1,200 square-foot salt water pool, deck, and cabana. Approval of this option would require yearly dues to be increased to $300 and increase maximum Association debt limit to $200,000

To see pictures and supporting information for this proposition

 Proposition 2: Replace existing neighborhood fence on 48^th Ave. NW with a stained custom cedar fence. This proposition would require a special one-time assessment of $280 per lot in 2007 payable on or before June 1, 2007 

  To see pictures and supporting information for this proposition

Proposition 3:  Establish 2007 scheduled dues at a uniform rate of $165 unless superseded by a higher figure with approval of any of the special projects outlined above in other propositions. This action is needed to avoid different dues for different neighborhood sections.

Proposition 4: Ratify the Association Bylaws adopted by the Board of Directors.

More information on the projects and the Bylaws can be found on the Association website at www.ArborLakeNorman.com/BylawsFinal.pdf. 

Please review the information and promptly return the enclosed postcard to signify your choice of which option should be placed on the ballot as Proposition 1.

 Once the ballot is ready, directed proxies will be sent to each member. You may either vote by proxy or attend the meeting to participate in discussion before the vote. WE HOPE FOR A LARGE AND INTERESTED CROWD!