Cypress Creek Estates Property Owners' Association, Inc.

By-Laws Committee Page

Proposed Amendment

The following proposal was put to a vote during the Annual Meeting on June 22th.  Two thirds of the membership must approve of a proposal before it can be adopted.  The proposal was easily passed by the members present or by proxy but it failed to garner the required (2/3rds) of the membership.

The By-Laws Committee, in conjunction with the Developer, propose the following changes to the DECLARATION OF COVENANTS AND RESTRICTIONS FOR CYPRESS CREEK ESTATES.  The black text is the current Section, Subsection and Paragraph.  The red text is the new amendment which will be appended to the existing paragraph 3 text (if it is approved).

 Discussion of Proposed Amendment

The proposed amendment was made in response to the expenditures for the front gate upgrades and the median landscaping & lighting improvements last year. The financial information for CCEPOA was not distributed before the 2015 annual meeting which brought into question the proxies of owners voting before the meeting not being fully informed.  This amendment was put forth as a means to limit the spending authority of the board without the consent of the membership.

Owners should be aware that capital expenditures (new projects or purchases) are covered in Special Assessments which limits the board to $5,000 without gaining the approval of the membership to fund the capital expenditure by making a uniform special assessment on each lot.

The proposal below will be voted on at the 2016 annual meeting. The proposal sets a maximum spending limit of $15,000 on maintenance projects before the board is required to submit the spending proposal to the membership for a vote. The text in red is the new amendment.

 Text of Proposed Amendment

SECTION II. ASSOCIATION, CYPRESS CREEK ESTATES PROPERTY INC.

 F. Association Property.

 3. Maintenance of Property. The Association is authorized to and shall either by virtue of the appointment of a person, firm, corporation, or other real estate management agent, or through its own personnel, provide for the maintenance and repair of the entrance islands, gates, walls, roadway, etc. of CYPRESS CREEK ESTATES, and also of such property as may be acquired by the Association pursuant to this Section I F. (1) The Developer, its affiliates, successors and assigns, may be the management agent hereunder and nothing shall be deemed to invalidate any agreement hereunder and the Developer or its affiliates as the Agent for reason that at the time of entering into such agreement, employees, officers or agents of the Developer or its affiliates are the officers and/or directors of the Association. (2) All necessary areas for drainage or roads shall at all times be maintained in a manner consistent with their use as drainage or road rights of way, as provided in the plat of CYPRESS CREEK ESTATES. (3) Developer reserves all necessary easement rights to properly serve and maintain the water, electricity, telephone, cable vision, etc. services provided for the general use of the property owners.

Addition of the following language to be appended to subsection F, paragraph 3 above:

(4) No single expenditure, or group of related expenditures, on the maintenance or improvement of Association property shall exceed $15,000.00 except when it shall have the approval of the membership of the Association, said approval to be obtained at a duly convened regular or special meeting called at least in part to secure this approval, by an affirmative vote of no less than two-thirds (2/3rds) of the members present in person or by proxy. (5) The spending restriction in (4) shall not be applicable to any emergency repairs required to restore functionality of, or to prevent imminent loss of, Association property.

 

 

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updated March 25, 2017

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