StaceyP1 (Tennessee)
Posts: 5
Posts: 5
Posted:
Hello all...quite an informative forum you have here.
Background: I live in a restricted neighborhood in Tennessee which began construction in 2004. The entire tract of land that the developer owns is huge however he's only developing small sections of the neighborhood each year. At present, there are approximately 150 homes. (The developer sells the lots to builders and then the builder sells the home) At the rate he's going, it's entirely possible that he will have control of our hoa for 10 years or more! Our bylaws state that, as long as he owns 1 lot in any section, he pretty much has total decision making authority over the hoa. We have only had 2 annual meetings since the hoa was formed (a violation of state law governing non-profits) and they were both quite contentious. We were allowed to nominate committee members at the first meeting but the developer nixed those nominations with the magical totalitarian veto language stated in the bylaws. For the record, I was nominated as a committee member.
I understand completely the reason for developer control when an hoa is formed but many in the neighborhood were unaware of the entire size of the project when they purchased their home. My question for this forum is....Has anyone else experienced an hoa that was controlled by the developer for such an extended period of time?
Judging by the size the entire tract of land he owns, I would say that this neighborhood is not even 1/3 completed!
Background: I live in a restricted neighborhood in Tennessee which began construction in 2004. The entire tract of land that the developer owns is huge however he's only developing small sections of the neighborhood each year. At present, there are approximately 150 homes. (The developer sells the lots to builders and then the builder sells the home) At the rate he's going, it's entirely possible that he will have control of our hoa for 10 years or more! Our bylaws state that, as long as he owns 1 lot in any section, he pretty much has total decision making authority over the hoa. We have only had 2 annual meetings since the hoa was formed (a violation of state law governing non-profits) and they were both quite contentious. We were allowed to nominate committee members at the first meeting but the developer nixed those nominations with the magical totalitarian veto language stated in the bylaws. For the record, I was nominated as a committee member.
I understand completely the reason for developer control when an hoa is formed but many in the neighborhood were unaware of the entire size of the project when they purchased their home. My question for this forum is....Has anyone else experienced an hoa that was controlled by the developer for such an extended period of time?
Judging by the size the entire tract of land he owns, I would say that this neighborhood is not even 1/3 completed!