Friday, October 28, 2016

Cedar Run Receivership Ending on 11/1/16; HHSG Hired on Interim Management Agreement

It is Finally Ending!!

Cedar Run HOC was placed in receivership by the court in February of 2015 due to egregious and blatantly illegal activities by the Sher/Shaw group that was in control at the time.  This receivership order will expire at 11:59 PM on October 31, 2016, thus putting the elected board (voted in on August 4th) in full control of all HOC operations.

HHSG, the company that was assigned by the court to act as Receiver, will officially become Cedar Run HOC's management company and report directly to the board of directors.  They will no longer be an agent of the court as far as Cedar Run management operations are concerned.

Although the board has signed a management agreement with HHSG, the board is still considering  other management companies.  At the request of the board, HHSG agreed to a short term, interim contract with the Cedar Run HOC.  This contract has a "60-day Opt-out" clause, meaning that the board can terminated it within 60 days after giving written notice.  The purpose of this agreement was to give the board more time to make an informed choice on future management.

Things to note about Cedar Run HOC management:
  • The board has formed a committee with the sole purpose of exploring management options and reporting back to the board members.
  • As described by committee members at the 10/19 board meeting, the committee is also evaluating candidates' viability to manage Cedar Run's eleven Phase Associations.
  • Per the board's decision at the 10/19 board meeting, the committee will select companies as finalists that will be interviewed by the board at open meetings (i.e. homeowners are welcome to attend).
  • While HHSG is currently working under an interim agreement, they are also being considered as a candidate (potentially a finalist) for the long-term management of Cedar Run.


***Important Change to Payment Instructions***
By now, all Cedar Run unit owners should have received a statement from HHSG, which includes payment instructions.  Some important things to note:
  • All owner account numbers have changed.
    • While the payment address and general instructions have not changed, Unit owners will need to indicate their NEW ACCOUNT NUMBER (found on the statement) to ensure their payment posts properly.
  • The balance on this latest statement may not be correct.
    • It does not reflect any balance that owners may have had during receivership.
    • Those balances will eventually carry over, but there may be some formalities with the court before that can happen.

Friday, October 14, 2016

Cedar Run Update: Next Master Board Meeting - 10/19

Cedar Run HOC October Board Meeting
Wednesday 10/19/16 7PM
Cedar Run Clubhouse
 
The main agenda item for the meeting will be the official adoption of the FY 2017 budget.
  • You'll notice that this meeting is one week later than normal (third Wednesday rather than second Wednesday).
    • This was done to allow sufficient notice to all homeowners regarding the budget.
    • By law, homeowners must receive a copy of the proposed budget at least 30 days before its adoption.
  • There will be NO INCREASE to the HOC monthly assessment fee for FY 2017. It will remain at $125/mo.

Parking Program
In other News, parking registration has begun for those who wish to lease (or renew) a reserved parking space.
  • All owners applying for or renewing their leased parking space must bring proof of their vehicle registrations to the clubhouse.
    • All registrations must be current, and all vehicles must be registered to the owner's Cedar Run address in order to be eligible.
    • You must have at least three vehicles with current registrations to be eligible for a street space.
  • The cost ($120) and rules are mostly unchanged from this last year with one additional compliance requirement:
    • Anyone applying for or renewing a space must also make an appointment to have an HOC employee inspect their garage interior to ensure that it can fit a vehicle.  Photos will be taken and kept on file to document compliance.
      • This inspection requirement is intended to ensure compliance to the existing rule - which states that all owners must first use their garage and driveway space before being granted street parking space.
      • The use of Cedar Run Garages for storage, living space and purposes other than storing a vehicle seems to be quite widespread.

Homeowner Participation
Last, (but definitely not least), please do attend the board meeting and bring all of your questions, comments, and concerns.  There will be a homeowners' session after board business is finished, and homeowners will have a chance to speak.  As always, if you are unable to make the meeting and you would like something addressed, please email us at restoreCR@gmail.com.