Board of Directors Regular Meeting Agenda


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Meeting Date: 03/26/2014  

SUBJECT MATTER:
Receive, consider and act upon voting for Lake Woodlands Property Owners Association Board representatives;
FISCAL IMPACT:
NA
BACKGROUND:
The Woodlands Township owns several parcels of land located within the Lake Woodlands Property Owners Association (LWPOA). These parcels are either reserves or pathway locations of minimal value and are tax exempt.

The Woodlands Township was notified by FirstService Residential, the management company for LWPOA, that LWPOA would hold its first election of Class II and Class III Directors in March. The newly elected LWPOA Board will consist of three directors appointed by the Development Company, three directors elected by owners of commercial land (Class III) within the lake zone and three directors elected by residential property owners (Class II) within the lake zone. The initial letter from FirstService Residential indicated that the Township parcels were considered commercial properties for the purpose of the LWPOA election and that ballots would be mailed by March 13 with the deadline to return ballots as March 27.

It has since been determined that The Woodlands Township is not eligible to vote in the LWPOA election. The Township does not have the ability to vote or nominate a candidate because, as a governmental entity, the Township’s property is exempt from taxes, which per the LWPOA Covenants and Bylaws makes our properties “Exempt Property”. Per the LWPOA Covenants and Bylaws, only owners of Commercial Land (which as defined excludes “Exempt Property”) and Residential Land (for which we also do no not qualify) are eligible to elect directors. Therefore, the original mailing was sent to the Township in error.
RECOMMENDATION:
For information only. Receive and accept the report.

    

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