After two-and-a-half years of hard work and tracking downs votes, we finally reached our milestone last week. Franklin Trace now has one set of covenants for the entire community. We no longer have to try to sort through the slight differences between sections 5A, 5B, 8, 9, 10, and 11. Here are some details on the process:
- Franklin Trace was broken into sections as it made logistics easier for the developer, with slight variations being added each time. Since development is largely complete, it was time for unified covenants.
- Zero homeowners voted against the unified document, with right at 2/3 of all homeowners overall responding to the call to vote.
- The biggest challenge was getting 75% participation from sections 9 & 11; all of the other sections required only 50% approval rate to pass. The new covenants now require 50% for all sections, which is most common for resident-owned (vs. developer owned) communities.
- Some of the changes are new for some sections of the community, but not for other sections (because they were in the previous covenants for that section.)
- Here is a link to the newly passed covenants; please review them if you haven’t seen them recently.
- The success and value of the community hinges on courtesy, consistency, maintenance, and accountability. If you have any questions or issues, please let us know.
We hope to see everyone at the 2014 annual meeting on June 11th!