The Somersett Owner Association’s Governing Documents (e.g., CC&R’s, By-Laws, and Articles of Incorporation) have not been updated since originally generated by the Developer (i.e., Somersett Development Company, the “Declarant”). As such, these documents are replete with references regarding the Declarant (especially the CC&R’s) and the powers vested therein. It is high time that these documents are revised to remove all Declarant references and update to current Nevada Law governing Common Interest Communities.
In this regard, SU strongly recommends that the SOA Board of Directors form a dedicated committee of homeowners to review the SOA’s governing documents, solicit homeowner input and propose changes to be submitted for homeowner ratification.
For reference, the current SOA governing documents and policies may be accessed under the “References” tab on this website.
Comments are welcome.
In a previous post (ArrowCreek Golf Course – What Next, dated September 19th) we updated readers on the ArrowCreek Golf Course controversy, wherein the ArrowCreek Homeowners Association Board of Directors voted, on a 4 to 3 basis, to proceed with a plan to purchase the ArrowCreek Golf Course property for $3.3M from its owners (i.e., The Friends of Arrow Creek or FOA) and lease it back for $20K/year. The plan was to submit the proposal to a vote by Arrow Creek homeowners within the next 60 days. For complete details of the proposed plan, revisit our September 19th post and click on the referenced link.
This plan has similarities, to what happened here in Somersett, with much of the discussion related to ramifications should the golf course go bankrupt and resulting effects on community environment and homeowner assessments. SU believes that these discussions are pertinent to our situation here in Somersett and therefore, may be of interest to our readers.
For those interested, we recommend visiting the “ArrowCreek 411” website at www.arrowcreek411.wordpress.com and accessing the following blog posts: