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A Brief history of Block 3:

The site for the Community Building, 2 8-plexes and a possible pool

When Markel Homes annexed Dakota Ridge Village with the City of Boulder, Markel Homes gave the city the land for what is presently Dakota Ridge Park. At that same time, Markel stated to the city that they would build a community center for our HOA giving the land and the building to us at no cost. The requirement stated that Markel Homes needed to build the community center by the time the last of the development was to be complete. At this point, they are planning on building the 2 8-plexes in the next year and therefore need to complete the construction on the community center.

Markel homes held a meeting in 2015 discussing the upcoming development of Block 3. Since all of their early permits had expired, Markel was required to go back to the city to obtain approval for the site plan. The site plan is what the city approves of what will be built on the land and how it will be used. Since Markel was going to need new site plan approved, if Dakota Ridge Village wanted to add something else to the property next to the community center, this was the time to get approval.

Just after the meeting with Markel in 2015, the Master HOA held a special meeting to see if there was interest in doing something else with the land. At that meeting, where we had roughly 90+ people attend, many ideas were vetted such as tennis courts, community gardens, basketball courts, landscaping and a pool. Given a rough estimate of $350,000 a vote was taken and approximately 90% of the people were interested in a pool. Since that original meeting we have held an additional 4 other meetings about the pool and 2 annual HOA meetings. During these meetings we discussed the pool as well as details involving Block 3. At every meeting, we have discussed people’s desire to have the pool, what would be wanted if we had a pool and the rough costs associated with building a pool, each meeting bringing us closer to the final cost and design. At every meeting we have had an overwhelmingly positive response and continued support for continuing down the path of building a pool.

That brings us to where we are today.

In the last 9 months we have been working with Markel and Aquality Pool to develop a final fixed bid price for building the pool. Part of this process includes working on how the pool would be financed, if built, and what a probable working budget would be once the pool was complete. The pool committee has reviewed a number of options for the pool and decided to add features that would help make the pool as efficient as possible as well as a gathering place for the community.

With the final design in place and a fixed bid from Markel, the Master HOA is now ready to bring it to a vote of the entire community, not just those who come to the meetings. If there is 67% of the 400 units in the neighborhood that would like to have the pool built, we will move forward with the project. We’ve included fact & figures below along with some frequently asked questions about both the community center and the pool. Each unit (house, townhouse, condo, lot and commercial space) in the association is entitled to one vote.

If the information contained in this packet does not answer all of your questions about the vote, we will be holding 3 informational town hall type meetings in the park rain or shine:

Sunday, May 7th  … 10:00 a.m. – Noon
Monday, May 8th … 8:00 a.m. – 10:00 a.m.
Thursday, May 11th … 5:00 p.m. – 7:00 p.m.

If you would like to drop off your ballot at one of these meetings, we will be glad to deliver it to Mock Property Management.

Please vote and have the ballot returned by 5:00 AM July 28, 2017!

Either for the project or against it, it would be good to hear from as many people in the neighborhood as possible.

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Facts and Figures


  • Use of the community center will be available to both the residents of Dakota Ridge and the surrounding communities.
  • The community center will have a small kitchen, bathrooms and a large common area furnished with some tables, chairs and sitting areas.
  • Current Residents will be able to use the building for a cleaning fee of $150. We will adjust the cleaning fee once we know this cost, in hopes that it will be lower.
  • Non-residents will be able to rent the building for $250. This price will also be adjusted depending on cleaning costs and market tolerance.
  • Damage deposit will be required in both situations.
  • Hours of the community center are right now estimated to be 8:00am-9:00pm
  • Renting the community center is for the community center only. This will not allow people outside of Dakota Ridge or the membership access to the pool.
  • We will form a committee to determine the rules and regulations for both the community center and pool including the length of time to be rented.


  • Estimated 2018 increase of dues are as follows:
    • All Master HOA members – $6-8 a month towards the upkeep, maintenance, furnishings, management, etc. for the Community Center and surrounding
    • $15 for all Housing Units in the Master HOA for upkeep, financing, management, etc. for the pool
  • 30 Memberships to the pool will be sold for $800 annually to the neighborhood immediately south of Dakota Ridge Village (Dakota Blvd to Chinle Ave) but north of Lee Hill Rd.
  • A 15 year fixed line of credit will be drawn from Mutual of Omaha as well as using $200,000 from the Master HOA reserve to finance the construction of the pool and purchase of furniture for the community center. This will leave $100,000 in the Master HOA reserve.
  • Future residents, people buying in the neighborhood, will need to buy into the reserve a one-time cost of $1000.
  • Markel Home will be the GC on the project and Aquality pools will be building the pool.


Frequently Asked Questions


  • Do we have to have the Community Center?
    • Yes, this was part of the master plan agreed upon between Markel Homes and the City of Boulder.
  • Who will be the General Contractor on the project?
    • Markel Homes and Jason Markel
  • If someone rents the community center will I be able to use the pool?
    • Yes, renting the community center will not close the pool.
  • What can we rent the community center for? Parties, wine nights, yoga, book club…
    • Since the community center will be built for and to be used by the neighborhood, the master HOA would encourage people to give us input and feed back on how they would like it to be used. This will be determined by a pool/community center committee


  • Is the pool absolutely going to be built?
    • No, we need to have 67% approval in order to move forward on the pool.
  • What time of year will the pool be open?
    • We anticipate the pool opening sometime after mother’s day, depending on the weather, and close sometime in October again depending on the weather. While the pool is open the hours will be from 7:30 or 8:00am until 8 or 9pm depending on the month and feedback from the community.
  • Who will be the General Contractor on the project?
    • Markel Homes will be the general contractor on the pool. Aquality pools will be the subcontractors actually building the pool.
  • What are some of the benefits of building a pool now versus sometime in the future?
    • Building a pool simultaneously with the community center and with Markel Homes and the GC will have many efficiencies such as costs for:
      • Excavation
      • Engineering
      • Permits
      • Mechanical systems
      • Electrical systems
      • Markel will pay for the fence around the pool
    • Will people be able to rent out the pool?
      • No, the pool will be only for residents, their guests that accompany them and the membership holders.
    • How will you monitor the pool use?
      • Each resident and member will have his or her own pool access code. If one code is being used excessively we will notify the resident/member and change their code.
    • Will there be a lifeguard on duty?
      • No, since this is a private pool we will not have a lifeguard.
    • Will there be rules for the pool?
      • Yes, we will work with both our lawyers and the community to establish and post rules for the pool.
    • Why has the cost of the pool increased from the first meeting 2.5 years ago?
      • At the first meeting when we were discussing the possibility of having a pool, we were working with very rough costs that only included a pool. Since then, the pool design has been refined. The pool committee decided to add extra insulation, solar, and high efficacy heaters. These items can only be added at the time of construction. At the revised price of $750,000 the non-affordable housing units would be paying an additional $15 a month.
    • How will the pool be financed?
      • The board would like to use $200,000 from the reserve and take out a line of credit for $700,000. The reason why we would like to take out a line of credit greater than what we will need is in case we do not want to use as many funds from the reserve.
    • Will the loan be fixed and what are the terms of the loan?
      • Yes, the loan will be at a fixed rate being fixed on the first day we start to draw funds. The loan will be for 15 years thus spreading the financing of the pool over a greater number of people who are using the pool.
    • Instead of everyone in the neighborhood paying for the pool couldn’t we just sell memberships to those who want to use it?
      • No, the City of Boulder would not approve this structure. Having said that, we also do not feel that this structure would create a good sense of community and good will among our neighbors.
    • I don’t have kids, why should I vote for the pool?
      • We believe that having a central gathering place for everyone in the community will bring people together and create a wonderful environment for everyone regardless of weather or not you have kids.
      • With the annual projected cost of $180/year we believe you would see a greater return in the value of your property if you went to sell your unit.
    • Why build the pool now?
      • Building the pool now in conjunction with the community center and Markel Homes would be huge cost savings on the project. Markel Homes will be paying for the fence surrounding the pool. By working at the same time and with Markel GCing the project we are saving on excavation, mechanical, solar, electrical, flatwork – concrete, and many other items. From other bids we received the cost to build a pool, like we have designed, would be well over $1,250,000.
    • Will the pool increase the amount of traffic in the neighborhood?
      • No, we believe that most people will walk or ride their bikes to the pool.
    • Will there be any lights at the pool so we can use the property at night?
      • No, there will not be any lights out of the water around the decking. The lights in the pool are for safety reason.   The pool lights will be turned off after hours and the pool will be covered nightly.


  • What happens if we do not build the pool?
    • As a community we will have to decide what happens.
  • Why haven’t other ideas been vetted instead of a pool?
    • Since the very first meeting in 2015 a majority of people who came to the meetings have spoken and voted in favor of having a pool in the neighborhood. At the very first meeting we did discuss other options and the pool was the one that most of the people were in favor of.
  • If we don’t have a pool could we have something like a community garden?
    • No, the city of Boulder would not allow that in the neighborhood.
  • How many units are in the neighborhood?
    • Currently there are 400 units – everything from lots, single family homes, townhouses, condominiums and commercial. Sixteen more units will be built on block 3, bringing the total number of units in Dakota Ridge to 416.
  • I thought Markel was giving the entire Block 3 to the Master HOA, why are 2 8-plexes now being built?
    • Markel always intended on building on the top 1/3 of Block 3. The Master HOA was always going to have 416 units when complete.
    • For decisions requiring subjective judgement; for example how many guest can someone have at the pool? What is excessive use? Can I rent the community center for a whole day? Those items will be determined prior to the pool opening by a pool/community building committee.


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BALLOT
FOR VOTE ON THE PROPOSED LOAN AND PLEDGE OF FUTURE ASSESSMENTS FOR
THE DAKOTA RIDGE VILLAGE COMMUNITY ASSOCIATION

NOTICE IS HEREBY GIVEN that the Dakota Ridge Village Community Association (the “Association”) solicits your vote by written ballot (in lieu of conducting a meeting of the owners), for the purpose of voting on a proposed loan in the total amount of $700,000 and the pledge of future assessments as security for the loan (the “Proposed Loan”) which, if approved, will paid through an increase in annual Association dues. The Proposed Loan has been approved by the Board of Directors for the Association.

Please sign and return this ballot now. By providing your ballot now, you will save the Association further solicitation expenses. Owners representing at least ten percent (10) of all Owners in the Community must vote in favor of the same. Ballots must be received by the Association no later than July 3, 2017 in order to be counted. Pursuant to the terms of the Colorado Revised Nonprofit Corporation Act, once cast a written ballot may not be revoked.

Vote on the Loan — (Check as appropriate)

I/We represent myself/ourselves to be (an) owner(s) of a unit within the Dakota Ridge Village Community Association. I/We cast my/our vote in reference to the following matter as indicated:

□ Vote IN FAVOR of and APPROVE the Proposed Loan.
□ Vote AGAINST and REJECT the Proposed Loan.
□ ABSTAIN from voting for, approving or rejecting the Proposed Loan

__________________________ __________ _______________________________ _______
Owner (as title is held) Date Owner (as title is held) Date
Legal signature – DO NOT PRINT Legal signature – DO NOT PRINT

Address in the Dakota Ridge Village Community Association:

______________________________________________________________________________________

Once received, a ballot may not be revoked.

Please return to via mail (SASE enclosed), fax, or scan and email to:

Dakota Ridge Village Community Association
c/o Mock Property Management
825 S. Broadway, Suite 200
Boulder, CO 80305
Fax: 303-497-0666
Email: hoa@mockpm.com

Dakota Ridge Village Community Association
c/o Mock Property Management
825 S. Broadway, Suite 200
Boulder, CO 80305
Phone: (303) 497-0681
Email: eduardo.martinez@mockpropertymanagement.com

Date: May 1, 2017

Re: Proposed Loan and Special Assessment

Dear Owner:

As discussed during the 2017 annual meeting, and on other occasions, the Association has been exploring the idea of installation of a pool in the Community. In order to fund the installation of the proposed pool, the Association is required to borrow money and pledge its right to receive future assessments and income (i.e. annual assessments which will be due in the future or other future payments due and owing to the Association) as collateral for the loan. The loan will total $700,000. The loan will be repaid over 15 years and the loan payments will be made out of the Association’s operating account. The operating account is funded through annual assessments. The 2018 budget will contain a slight increase in the approximate amount of 252 dollars ($21) per unit per month. However, this figure will not be final until such time as the loan closes.

Section 3.5(a) of the Declaration of Covenant, Conditions, and Restrictions of Dakota Ridge Village (the “Declaration”) and the Colorado Revised Nonprofit Corporation Act (the “Nonprofit Act”) provide the Association with the power to borrow money. However, Section 5.8 of the Declaration provides that “the Board of Directors shall have the unrestricted right to assign its right to receive Common Expense Assessments and other future income, either as security for obligations of the Association or otherwise, on the condition that any such assignment is approved in writing by Owners to which at least sixty-seven percent of the votes in the Association are allocated.” Thus, while the Association may borrow money without member approval, the Association needs approval of sixty-seven percent (67%) of the members to pledge Association future assessments and other future income. The Association will not be able to secure a loan or fund the pool without pledging its right to future assessment and income as collateral.

Finally, C.R.S. § 7-127-109 of the Nonprofit Act allows the Association to take any action which could be taken at a meeting via mail. Consequently, the Association has elected to conduct the above referenced vote via mail ballot. In order for the Association to meet quorum (the requirement number of member participants required in the Bylaws to take action) ballots must be returned by members holding ten percent (10) of the members in the community or 268 ballots must vote yes.

You are urged to date, sign and promptly return your mail ballot (attached to this letter) regarding the Association’s right to pledge future assessments as collateral for the above referenced loan. In order for the ballots to be counted, they must be received by the Association no later than July 3, 2017. The prompt return of the enclosed ballot will aid the Association in reducing expense of additional solicitation.

If you have any questions regarding the proposed loan or pledge of future assessment please contact one of the current Board members or the Association Manager, whose contact information is listed above and on the ballot.

Very truly yours,

Board of Directors
Dakota Ridge Village Community Association
Enc.

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