This is my effort to explain the vote at the AAC meeting that has folks all upset because they do not understand what we can and cannot do and what the vote really was about.
The AAC has no vote on what the Developer builds on the land he currently owns, where or when he chooses to purchase more land, nor what he chooses to build on that new land.
What he builds is a decision that he makes subject to getting zoning and permits to build from the County and/or from the jurisdictions that the land lies in.
Amenity contracts are contracts between him and the buyer or renter. The AAC has no vote on whether the Developer keeps those contracts or sells them to the Center District. We have the vote on whether to purchase them. If we do purchase the contracts, we then pay for them, just as we did for the Philips and Solier Villa contracts at 8 million dollars. We could have floated a bond issue to pay for them, pledging the Amenity payment stream to then pay off the bonds.
The Hacienda vote was not about what he could or could not build there, but about reaffirming a previous contract from about four years ago when the AAC agreed that he could create 300 new amenities. We do not get to approve how he uses those amenities. The AAC is not a developer; he is! We do not build houses and apartments because we are not developers nor do we have any land to build anything on except additional amenities such as pools and recreation centers, etc.
The second part of the vote was to allow the developer to rebuild the postal facility at his expense. The facility needs to be refurbished in the near term and he will do that for us at a savings of about $700,000. He will incorporate the mailboxes from the ALF (Assisted Living Facility) or ILF (Independent Living Facility) into the reconfigured mail station.
Below is the link to the agenda item and the supporting documents as most of the persons that I have been in contact with have not had the opportunity to really understand the issue. Type it into the “search address” box or Google search box.