The BOD is meeting with our neighborhood developer – What questions should we ask?

The BOD is meeting with our neighborhood developer – What questions should we ask?

The HOA BOD is meeting with our neighborhood developer next week to discuss how the economy has affected the housing market and the development of our neighborhood.

Our neighborhood currently has 310 single family homes and another 65 lots yet to be developed. Our developer is taking good care of the yet developed lots with keeping it clean and maintained. The four builders are still in the neighborhood but only have a few spec homes under construction and are waiting on contracts to develop the other lots.

I want to make the most of this meeting, what questions would you ask the developer?

Thanks in advance,
Bruce
HOA President

First, thank him for taking care of the undeveloped lots. Too many associations these days are looking terrible because the developer has just walked off. Since I assume the owners now control the HOA, your first question should be, given the current economy, how much longer can he continue to do that. Next, is there anything the association can do, within its controlling documents, to help him move the remaining lots. Because of the docs, there are probably a lot of things he would like to do, but can't, and may want some leeway with respect to modifying the size, appearance or amenities of the remaing lots/homes. Listen, but don't agree or immediately deny anything. One of the options he may still have available to him is to break the remaining lots off into a separate asssociation, and then he could modify them as a new association, allowing him to sell lots and build homes which don't fit in with the sub-division.

I think the questions you will need to ask will come after the meeting. Just don't commit to anything at the meeting.

Joe