At this point in time, the developer, Farallon Capital Management, has stopped all work on our community.
The company they hired to act as the Operating Manager for the community, Brooks Street, has been let go while Farallon works with the lender, CW Capital, to try to work out an agreement.
The City of Palmdale and Merit both worked directly with Brooks Street employees once Farallon took control from Empire, and as of today a contact at Farallon has not been identified.
The three HOA board members that represented the developer were Brooks Street employees, are no longer a part of this development, and as such should no longer sit on the HOA Board.
We have requested their formal resignations from the board.
Through Brooks Street, we have asked Farallon to allow the homeowners to elect their own representatives into those three HOA board positions.
We are awaiting their reply.
The CC&R’s and bylaws of the HOA give the developer (Farallon)
a majority of seats (which is 3)
on the board.
Currently, they will keep control of those seats until:
3900 homes have been sold, or
April 27, 2020
whichever comes first.
Additionally, the developer will have a controlling majority of votes in the HOA until either:
4160 homes have been sold,or
April 27, 2015, if 3900 homes have been built by then, or
April 27, 2030
whichever comes first.
Hopefully, they will grant our request and allow the homeowners to run the HOA.
Updates will be posted. For an explanation of how these dates were figured, click HERE.
Our Board of Directors is again intact, apparently. John Miles, John Rodrigue, and Brett Malkin, who occupy the developers' positions on the board, have let Merit know they plan to be active members of the board again.
Farallon is currently in talks with CW Capital to work out a new financing agreement for Anaverde.
The next board meeting is scheduled for Tuesday, September 22nd and everyone is encouraged to attend the meeting.
Currently, the City of Palmdale has taken control of the 13-acre park off of The Groves at the north end of the development. They are now maintaining the grounds and are in the process of evaluating where the park project was stopped and what still remains to be completed. This was a developer project and not a city project, so they have not been a part of the construction process. They figure sometime after the first of the year they will have an idea of the work still to be done and will have bids out for contractors.
It is their intent to utilize some of the remaining Mello Roos money to complete the park.
The school district is not sitting idly by, either. They have begun to assess the land on the south side of Avenue S between Mimosa and Parkwood for a possible school site. This is the property owned by Richmond America, who had built model homes on the southeast corner of Avenue S and Parkwood, but were not able to secure permits to build any other homes before the project was stopped.
Only a portion of that land is under consideration for the school, and the school district has begun the appraisal process to assess the land. Initial talks have been held between the Westside School District and Richmond America.
All of the monuments have been repaired and proposals for the replacement of the lettering will be presented at the board meeting on September 22nd.