our merger has finally gone thru: the state incorporation date is 14dec. we now have to get a new bank account, insurance, p.o.box…
update: the mailing address will remain
as there are no available boxes @ the cascades p.o.
The 3&4 Association has passed the resolution to merge. Some paperwork needs signing and returned to the lawyer for filing with the state corporation commission. We’re not sure when
the merger will be effective, but we’ll keep you informed.
History was made tonight as 80 homeowners voted to merge! Thanks everyone!
There are two separate Associations for our neighborhood of 185 homes, as the several sections were built by three different developers, creating an HOA for each section. Sections 1 & 2 were merged some years ago, and this final merger is long overdue.
The members of both Boards have started the process of merging the two Associations, engaging a lawyer to file the necessary papers. The resulting single Association will result in more efficient operation of the HOA:
- A single contract for common ground maintenance
- A single lawyer will be retained for HOA business
- A single insurance policy to cover all common ground
- A single corporation filing with the state of Virginia
- A single tax return
We believe that the savings by removing redundant functions will keep overall expenses lower in the coming years. Answers to anticipated questions are:
- The dues for each association are currently $130 per year. There will be no change to the dues after the merger. Future changes will be determined based on yearly expenses and will be adjusted according to the contents of the Covenants recorded with each lot.
- There will be no changes to the Covenants, as those are recorded with each property deed.
- Financial statements:
- Merger Documents
- Draft Bylaws
The committee began working with the lawyer on June 9, 2014. If you have any questions about this project, please contact a member of your current HOA Board: