08/15/11 Work Session - Laserfiche WebLink

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HRA Work Session Meeting Date: 08/15/2011 By: Kurt Ulrich, Administrative Services 5. 2. Title: Consider Matters in Regard to the Ramsey Town Center Master Declaration and the Association's Articles of Incorporation (Portions my be closed to the public) Background: As a major property owner in The COR, the HRA staff considers it necessary to resolve all issues related to the governance and operation of the Master Declaration and the Association's Articles of Incorporation, in order that future land sales not be impeded. The HRA ultimately has an interest in creating an Association governing board that is reflective of the ownership interests in the property subject to the Master Declaration. There is no clear guidance on the memberships interests associated with the various lots and outlots. One option for the HRA to consider is filing a Declaratory Judgment to allow the courts to interpret the Association documents for all parties, in order to establish clear rules of governance moving forward. Observations: The HRA attorney will be present to discuss the alternatives and details of moving forward with clarifying the governance of the Association. Portions of this meeting may be closed. Recommendation: It is recommended that the HRA continue to clarify the membership interests in the Master Association and take action that would expediate this process as recommended by the HRA attorney. Funding Source: HRA professional services. Council Action: Based upon discussion. Form Review Inbox Reviewed By Date Heidi Nelson JoAnn Shaw 08/11/2011 04:38 PM Form Started By: Kurt Ulrich Started On: 08/11/2011 04:08 PM Final Approval Date: 08/11/2011