Arrowcreek Homeowners propose buying Arrowcreek golf course
18
Sep
In a valiant effort to save the Arrowcreek Golf Course/Arrowcreek home values, a group is proposing to have the Homeowners buy the Arrowcreek Golf Course.
For the sake of timeliness getting this on the net and my phone and e mails going crazy about this mess, I haven’t really digested this.arrowcreek-hoa-golf-purchase.pdf
 I will make some brief points however:
- It is important for the Arrowcreek Homeowners to wait until bankruptcy to bid but without blocking any viable established operators from buying it.Â
- The reason to wait for the bankruptcy as it will clean the slate of this mess and level the playing field of all of these various contracts floating around.
- The smart money is waiting in the wings to purchase in bankruptcy so it is a clean slate
- If the HOA can’t even get along with simple maintenance items now and we have a revolving door of Presidents and Board Members, how are they going to grab this tiger by the tail?
- If the Homeowners did participate in the purchase, it should be voluntary and prorated accordingly for those who wish to participate.Â
- Remember, we just had a doubling of our HOA dues because of this bogus reserve study and resulting frivolous lawsuit which is being representing by none other than the same Attorney blocking the sale of the golf course and initiated by one of his plaintiffs while he was on the HOA Board.
Make the course semi private and allow the Upper Middle Class and Upper Class that are predominant surrounding us to insure profit, better turnover of food, better social environment etc. Especially now that we are getting our high tech surveillance camera’s, what are these people going to hurt?
If the phone and e mails stop for a bit and I can get caught up, I will take a better look at the proposal, this is just my thoughts of the purchase by the Homeowners in general.Â
Here is a pdf version of the letter sent to most Property Owners in Arrowcreek:
arrowcreek-hoa-golf-purchase.pdf
Ron Bell
Realtor selling Reno real estate and Reno Nv. Homes.
Sphere: Related ContentFiled under: ARROWCREEK
I agree with you Ron…. let the club go into bankruptcy and have the HOA purchase from there. This looks like a plan by existing equity members to have non-member residents of Arrowcreek refund their membership deposit! No thank you! At least in bankruptcy, all memberships and obligations made by the Arrowcreek Country Club as well as the developer (as it pertains to the club) will be expired.
All of the opportunities to sell the club have been undermined by non other than those who have the most to gain (Equity Members), It is irrisponsible to ask for such a substantial security deposit to become a member of this club and still have lesser privlidges than those who are currently equity members (as described on the last page of the attached PDF document).
If the Club/Equity Members/HOA would wise up and propose a solution like I received in the mail from RedHawk Country Club ($0 Membership fee- Just pay the standard monthly dues – I think it was $405/mo) I would happily contribute Arrowcreek’s $450 monthly dues. This could easily eliminate the $2M operating deficit. Seems kinda’ greedy to give ask for $6,000/$17,500 would put each participant in the same situation as the existing equity members – at risk of losing their deposit in a mismanaged club facing bankruptcy.