Don’t overlook the fact that it was several directors of the POA that started a class action suit against the developer for a breach of various agreements to provide appropriate levels of amenity services and facilities to homeowners in TV north of 466.
In March, 2008, a settlement was reached whereby the developer agreed to pump $40 million back into the reserve and replacement funds of the VCCDD which controls the amenities north of 466. Also, the Amenity Authority Committee (AAC) was established to oversee these funds as well as future purchases of amenity facilities.
It is money from this fund that will be paying for the widening of the multi-modal paths north of 466 that is currently underway.
|