
Quoting
marcimc
My question involves an HOA located in the State of: Florida
My HOA is currently under the control of the Developer. Having recently sold all remaining lots they are about to turn the entire thing over to the owner HOA. However, prior to doing that they are proposing that we lease our recreational commons areas to neighbors outside of our HOA. As a board member I am supposed to vote tomorrow. In the past, we had an attorney l tell us this is bad idea. But the developer and their attorney are of course trying to convince us how great it would be to have that additional money in the till. (I suspect that since they also owned those neighboring areas that they told those buyers they could use our amenities and then realize oops, that was not the case.....) Naturally, having a majority vote until they turn it over, they will do whatever they want, but I am wanting to weigh the pros and cons here......
For one I am thinking of an increase to our liability insurance because there will be more people. I also seem to recall our previous attorney saying something about generating money some how affecting our HOA status.....
Also, they have sold the majority of the lots (over 90%) but have not yet had the official turn over. Are they still entitled to a majority of the vote? There are three developer members and two homeowner members. If you know the answer to this, please enlighten me so i will seem smart at the meeting tomorrow!