The News of July 2010 - ISSUE #24
...an official publication of the Community Association
Page 3
July Dates to Put on Your Calendar
CA Board Meeting
14th
9 a.m.
Rollins Theater
4th of July
Pool Party
Celebrating Independence Day. Children’s pool hours extended from 3 p.m. ‘til dusk. Softball club will be offering food for sale. Music by Fred Campbell.
On the Inside CA President’s Report.. 2 CA Schedule................. 2 CARE......................... 19 Club Happenings.10-13+ Consumer Affairs........ 17 Crossword.................... 9 CryptoQuote............... 17 Deputy Chris................. 8 Entertainment Corner... 3 Golf............................. 20 Military Affairs........ 14-15 Movies........................ 23 Newcomers................ 23 Sudoku....................... 19 We Want to Know......... 3
Welcome Minto! By Judy Stimson On June 9, in the most highly attended CA Board meeting in at least the last eight years, executives from Minto Communities, LLC explained their June 22 purchase of residential-zoned lots from WCI and the plans for the future. As background, Minto was founded in 1955, is a privatelyowned property development company based in Ottawa (capital of Canada), and is run by the Greenberg family. After building 5K homes in Ottawa during their first 10 years of operation, they pursued commercial development during the 1970s, entered the Florida market in 1978, and built in Toronto during the 1980s. The last roughly 30 years in Florida have been concentrated on building 20K homes on the east coast from the Port St. Lucie area south to Ft. Lauderdale. A couple of years ago Mike Belmont, Executive Vice President, and Bill Bullock, Vice President, were brought in to run the newly-formed We s t C e n t r a l F l o r i d a Division focused on Orlando, Tampa and Sarasota. Mike and Bill reside in Tampa, and both were on hand for the presentation and answered a number of questions from the audience and CA Board. To be clear, Minto is NOT buying the golf courses and amenities WCI has for sale and that are undergoing a separate bid and due diligence process. Minto IS buying the undeveloped residential-zoned lots that exist in the Kings Point and Renaissance areas, including the Ben Sutton Golf School. The plan for Kings Point is to develop two-unit villas in the $150K to $200K range. The plan for Renaissance is to build single-family homes in the $180K to $300K+ range. The lease on the Ben Sutton Golf School expires in August and will not be renewed, and what will be built there in an estimated three to five years is undetermined, but the higher eight units per acre
PHOTOS BY JUDY STIMSON
More Membership Directory Corrections
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Bill Bullock Vice President density allowed suggests two-unit villas there. The start-up plan is fairly aggressive. Minto is using the same Engineer of Record as WCI. They have leased the closed WCI sales center and will reopen it in September/October, will start building models in August/September, and plan to have models available for showing in December 2010. There will be a mixture of models, homes built on speculation, and homes built to order. Building will start in the southeast corner of Renaissance (by U.S. 301); specifically, Units 271, then 276, then 272. There are around 200 lots that already have infrastructure, and those will be built out first. In an estimated 18 months, new infrastructure will need to be built for the remaining 600 to 800 lots. There is a strong commitment to keep the same external look and feel of the existing community from architecture, color and landscaping standpoints. Beyond building, Minto plans to abide by the 1984 Agreement with the CA, and all new residents will still be required to be members of the CA, members of the Renaissance Club, and contribute to the Master Beautification Corp. Further, Minto plans to pay the extra 10% WCI is currently paying into the Master Beautification Corp., plus spearhead plans to change the structure so everybody pays their fair share – businesses and nonpaying residents that all use and benefit from SR674. Minto also plans to maintain North and South Pebble Beach Blvd. and do a sprucing up sweep-through of landscaping, painting and signage.
from U.S. 301, which is an ongoing resident concern. Homes and the area will also be marketed, and Minto plans to work closely with the CA and its PR Committee on this and other issues and planning. Minto stated that what makes this community successful and the residents satisfied are Michael J. Belmont also clearly good for Executive Vice President sales, so everybody wins. History has Other resident concerns shown that 74% of sales in addressed include removing abandoned concrete slabs the area come from referrals, that were poured for houses so it is in everybody’s best that w e r e n e v e r b u i l t , interest to have positive maintaining an emergency- referrals. You can check out only (versus open) access to U.S. 301 from Renaissance, Minto’s other communities and utilizing the construction (e.g., Buena Vida, Olympia, access by the Maintenance Portosol, Villas by the Sea, Building that was secured Grand Hampton, Lakewood with a five-year lease. A new Ranch, FishHawk Ranch and concern brought to Minto’s Perico Island), and find out attention that they agreed to more information on Minto address is noise abatement by visiting www.MintoFLA. com.
Governor Crist Provides Relief to Homeowners Affected by Chinese Drywall
~ Signs legislation requiring assessed value adjustment of properties adversely affected by Chinese drywall ~ TALLAHASSEE - Governor Charlie Crist signed House Bill 965, relating to real estate property assessment. Properties impacted by imported or domestic drywall are now eligible for an adjustment of the assessed value by a property appraiser. The bill applies to the 2010 and subsequent assessment rolls and is repealed on July 1, 2017, unless reviewed and reenacted by the Legislature. “The homeowners that have been affected by Chinese drywall deserve our unwavering assistance and support. Through no fault of their own, their property values have been impacted, and this legislation is one bold step we can take to protect their investment,” said Governor Crist. “My administration will continue to work with our federal partners to help rectify, not only the property damage caused by defective drywall, but also the possible health conseq u e n c e s a s w e l l .
I want to thank sponsors Senators Crist and Storms, Representatives McKeel and Abruzzo, and the many members of the Legislature who worked hard for the People on this bill.” House Bill 965 requires Property Appraisers to adjust the assessed value of single-family residential properties adversely affected by imported or domestic drywall. To qualify for an adjustment, a property must have imported or domestic drywall that has had a significant negative impact on the property’s just value and the purchaser was unaware of the presence of the defective drywall at the time of purchase. If the building cannot be used without remediation to bring the property up to current building standards, then the property appraiser must assess the value of the building at $0. See Drywall on Page 22