The recent purchase of the Big Canoe Company LLC has sparked a flurry of questions from Big Canoe Property Owners, some of whom are still learning how the Big Canoe Property Owners Association (POA) operates and works with the developer according to covenants established and revised over the past 49 years.
All governing documents are on the POA website (under POA > Governing Documents > Covenants) for Property Owners to review at any time. However, many questions have been posed by Property Owners via firstname.lastname@example.org, so the Board wanted to respond to those most frequently asked.
Q: Does the purchase of the Big Canoe Company change the POA?
A: The only thing the acquisition has changed is the identity and ownership of the developer as a corporate entity. Nothing about the governance of Big Canoe has been altered.
Q: Who purchased the Big Canoe Company?
A: The new partnership includes Mike Zeigler of Big Canoe Holdings LLC; Wayne and Eileen Bruce of Wayne Bruce Designs Inc.; and Curtis Burkett of Curtis Burkett LLC. They have collectively been involved in the development, design, construction and real estate transactions within Big Canoe for more than 60 years.
Q: What rights does the developer have to develop land in and around Big Canoe?
A: The list of Developer Retained Rights is extensive and accessible on the POA website in Section 4 of the 2005 Amendment to the Amended and Restated Declaration of Covenants and Restrictions including, but not limited to, the right to annex and develop certain contiguous property into the Big Canoe community.
Q: How many additional homes can the developer build?
A: Per the 2005 Amendment to the Amended and Restated Declaration, the maximum number of “Family Dwelling Units” (FDU’s) that may exist in Big Canoe is 4,750. In 2016, the Big Canoe Company and the POA entered into an Agreement to place a “Developer Cap” on the total number of FDU’s the developer could develop in Big Canoe and that density “Developer Cap” is 1,072 FDU’s. This would be in addition to the developed buildable lots they already own.
Q: When is the developer planning to build?
A: The developer has expressed interest in building homes in Big Canoe over the next 10 to 12 years.
Q: What type of homes will the developer build?
A: The acquisition was just completed, and the POA is just beginning discussions with the developer to determine their plans for our community. The POA will share details about the developer’s building plans as soon as they are shared with us.
Q: Where will these new homes be located?
A: The developer currently owns a total of 55 lots inside the gates of Big Canoe and can add certain contiguous additional properties to the Big Canoe community as described in Section 4 of 2005 Amendment to the Amended and Restated Declaration. It is unknown if or when any new property may be added to the Big Canoe community or exactly where such property may be located, but the community will be informed as those plans are shared with the POA.
Q: Why did the POA allow this to happen? Why didn’t the POA buy out the developer rights?
A: The POA was not invited to purchase the Big Canoe Company and the POA had no authority or influence over the decision of the Owners of the Big Canoe Company to sell the Company and/or its assets. The POA also had no authority or influence over who the Owners sold it to or the terms of the purchase.
Q: Will new Property Owners have to pay our normal assessments and the Capital Contribution Fee?
A: As lots and homes are brought into Big Canoe by the developer, assessments and CCF‘s will become applicable in the same way that assessments and CCF fees are applicable to lots and homes currently bought, sold or constructed in the Big Canoe community.
Q: Will new Property Owners have access to all of Big Canoe?
A: Once lots and homes are brought under Big Canoe covenants, the new Property Owners will have all the same rights and obligations as all other Property Owners in Big Canoe.
Q: Will the developer be investing in new amenities or improving the amenities we have?
A: The POA is in discussions with the developer to determine the extent of their development plans, including the need for any new construction or improvements to existing facilities, amenities and infrastructure. The POA will share the details when they are made available.
Q: Will the Village on Blackwell Creek be made part of Big Canoe?
A: The POA has not been apprised of any such plans. However, this question will be raised during continued discussions with the developer regarding their plans to bring in any new properties into the Big Canoe community.
If you have any questions about the purchase of the Big Canoe Company, write to email@example.com.
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