FOA – ACHOA Letter of Intent Date Not Extended — But We’re Still Secretly In Discussions

Mr. Fox and Ms Tarantino:

This is a most interesting paper trail and leads one to surmise there is not only a severe communication problem here in ArrowCreek but there is also an alarming lack of transparency.

Here is the paper trail regarding ACHOA and intent to purchase this community’s golf courses.

7/1/15  Ms. Tarantino sends an email to Ron Duncan, et al and states:
“Lastly, the FOA Letter of Intent has been mutually extended to allow the ACHOA Board to finish its due diligence and vetting process. The ACHOA will report the results of this due diligence at an appropriate time when completed.”

7/2/15  Mr. Fox sends an email to Wayne Krachun, et al, stating: “The LOI expired in May and has not been extended.”

7/7/15  Ms. Tarantino sends an email to Wayne Krachun, Ron Duncan, et al, stating:  “The Letter of Intent between the ArrowCreek Homeowners Association, Inc. and the Friends of ArrowCreek, L.L. C. expired on May 31, 2015 and has not been extended.  However, both parties are operating under a Non-Disclosure Agreement concerning financial information and business propositions.”

First the deal is on (7/1/15), then it is off (7/2/15), then it is “secretly” on (7/7/15).  This is an unacceptable manner for an HOA Board to conduct business and it appears to show a lack of regard for what the majority of AC homeowners want the Board to pursue. It also seems to demonstrate a lack of transparency and integrity on behalf of our Board.  We only found out about the current “previously secret” negotiations because of persistent AC resident questioning.

Mr. Fox, you and your fellow Board members need to LISTEN to what the majority of AC residents want in terms of golf course purchase here in ArrowCreek and cease and desist in trying to “bail out” the FOA.  They were not authorized to make this purchase on behalf of our community; let’s quit acting like that is the case.

I can see why Ms. Tarantino sent her first email stating the FOA Letter of Intent was mutually extended.  By all outward appearances (the ACHOA Board’s behavior of operating under a Non-Disclosure Agreement), one would think the letter had been extended.  The difference is, the Board apparently decided not to reveal their endeavor to pursue purchase of the FOA golf courses to the AC residents.

It is also disappointing that in Mr. Fox’s email to Mr. Krachun et al, on 7/2/15, Mr. Fox failed to disclose that the ACHOA Board was continuing to pursue golf course purchase, via a Non-Disclosure Agreement.  This is a serious and alarming example of “omission” of information and leads one to believe perhaps Mr. Fox did not want AC residents to know about the Board’s continued endeavors to purchase of the AC golf courses.

We implore this ACHOA Board to stop pursuing purchase of the AC Golf courses from the FOA and let free enterprise take its course.  More simply put, “butt out of what is not your business”.

Thank you,

Margaret McConnell

This entry was posted in ACHOA, ArrowCreek, ArrowCreek HOA, Communication, FOA, Friends of ArrowCreek, Golf at ArrowCreek, Golf Course Purchase, The Club at ArrowCreek and tagged , , , , , , , , , , . Bookmark the permalink.

2 Responses to FOA – ACHOA Letter of Intent Date Not Extended — But We’re Still Secretly In Discussions

  1. Agree with recall says:

    Agree, Lets start over with a Board that will work for the best interest of the entire HOA.
    Where do we start to rid the HOA of these corrupt individuals?

    Like

  2. Betsy and Steve Card says:

    Personally, I think we should recall this ACHOA board. My husband and I have no interest in buying the golf course and there are many residents who feel the same. What these members of the board have done is reprehensible and should not be condoned.

    Liked by 1 person

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