Changing from a POA to an HOA

I live in a small townhome community. The original developer filed bankruptcy prior to completing the project of 29 homes. The developer filed as a POA, and turned over all rights to the POA and amenities at the time of bankruptcy.

All current homeowners agree that they would like to be responsible for their own exterior maintenance, and own the land under the townhomes. Because we were established by the original developer as a POA, we are already 100% responsible for studs in. We would like to dissolve the existing POA, and establish a new HOA.

All existing homeowners would like to place the POA's land deeds into the current homeowner's names; the homeowners will own the land along with their homes, and become responsible for all exterior maintenance.

A new developer recently purchased the remaining vacant lots; he intends to build similar townhomes, and form his own HOA for the new homes.

Our POA reestablished a Master Amenities Association which we intend to transfer all common elements into. The new developer would like to be included in the Amenities Master Association, and include his new homes as they are built and sold.

All homeowners will pay assessments into the Amenities Master Association for common elements and lawncare. The existing homeowners and the developer agree on this.

I've contacted our Secretary of State, the county courthouse, and researched all I can find on condo laws and reviewed our bylaws.
It looks fairly simple to dissolve the POA, and file a new HOA with the Sec. of State.
We were advised that we would need a new land survey for the new property deeds, and any homeowner with an existing mortgage should ask for any details that may affect their lender; is this correct?

Do we need to continue with any revenue in the existing POA (or new HOA) reserve account, IF all amenities are covered in the Amenities Master Association eventually funded by all 29 homeowners?
If all deeds are transferred into a homeowner's name, and all homeowners are responsible for their own interior and exterior maintenance - exactly like a free standing home, do we need any reserve funds in the HOA?
Do we need a real estate attorney if all existing homeowners agree to the change from POA to HOA, and the new developer is in agreement too?

Have you contacted the town about this?

Often a town wouldn't let a piece of land be subdivided into small lots because it didn't meet town codes/regulations so the developer keeps the land together and builds townhomes or similar. This requires notifying abutters of subdividing by certified mailz, maybe board of appeals, etc.

Just because you want to do this doenst mean the town will let you.