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41050 Avenida VerdeTemecula, CA 92591951-676-4429 Fax: 951-695-2409
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Meadowview Community Association Assessments Are Billed Quarterly
Golf Committee Update - Fall 2006At last we have closure to the golf course development issues.Over a year ago, the previous Board started the process to hold the developer accountable under the contract to perform based on the terms of the contract or to identify their failure to perform as a breach of the existing contract. It became clear that the developer did not have the financial resources to move forward with the project and after consulting with legal council the Board did the right thing and issued a breach of contract letter and started the process to extract Meadowview from the contract. In the interest of fair play the previous Board even allowed the developer sufficient time to identify a sub-contractor who may have been able to proceed with the project. When that did not happen the Board moved ahead. In the past month the Board has executed all of the documents necessary to render the original contract null & void. In short, neither party has any claim against the other and the only way that a golf course could be built in Meadowview today would be to start over with a new developer and go through the entire process again. Some may ask whether Meadowview suffered any financial loss as a result. The Board is pleased to report that we did not. In fact, there were monies escrowed by the developer early in the process that Meadowview was able to obtain. Some of the escrowed money went back to the developer but most of it went to Meadowview. Last week the Association received a check for $49,000.00 from the escrow account. Please note that this was not money that Meadowview invested in the project in any way – this was interest earned on the escrowed monies and represents a nice windfall for Meadowview. The Board is rolling those funds into our capital planning dollars for future improvements within the Association. Many thanks to all who worked on the golf course committee over the years. Monument Update At last the Monument on Avenida Barca will be replaced! The area has been cleaned of debris and the tree trimmed. The wall has been treated for termites, the bees removed, and the wooden features along the corners will be removed. The new monument is based on the one on N. General Kearny with small changes to scale and design. This will provide a more aesthetically pleasing entry into Meadowview at that intersection. Gating Meadowview
The Board reviewed the report
(which is available in the office) and, based on the extensive financial and
legal drawbacks, has decided not to pursue gating Meadowview any further. |
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Copyright 2007-2008 Meadowview Community Association. All Rights Reserved. |