WHAT CONCERNED NEIGHBORS OF ARROWCREEK (CNA) AND BETTER FRIENDS OF ARROWCREEK (BFA) (WHOEVER THEY ARE) “FORGOT”
Posted on December 1, 2015 by ArrowCreekTruth
The reason this blog has taken so long to write is that it was assumed that the above two entities would do what is expected of groups before they send information to the community. However, they did not report to the community important facts about the sale of golf course to the HOA. Or they “forgot” to relate those important facts.
The $1,972,398 referenced is ONLY the court administered cost. Both of those entities “forgot” to tell the community about the FACT that the FOA has assumed and will pay six Special Assessment District (SAD) payments totaling $761,130. That the FOA has to pay these payments is manifestly obvious because it is in the LOI in paragraph 3 where it says “Subject property will be free and clear of any taxes or penalties and SAD to be paid at or prior to settlement by FOA.” Clearly CNA and BFA knew or should have known that the FOA had to pay the SAD but “forgot” to tell the community.
Did the CNA or BFA think there would be no attorney’s fees or costs for the bankruptcy or fees to close the sale? The FOA incurred #101c168 attorney’s fees, $9978 sales tax deposit, $7487 SD&O insurance, $7125 escrow costs, and $2987 miscellaneous costs. CNA and BFA “forgot” to tell the community about these costs totaling $889,575.
THE TOTAL COST TO PURCHASE THE COURSE IS $2,773,314 NOT $1,972,398. The CNA AND BFA “FORGOT” $899,575 of costs to purchase the course.
The next big cost the CNA and BFA “forgot” is the $1.3 million the FOA is spending in good faith to repair past damage due to neglect and upgrade the course, in order to build a thriving entity that enhances the overall value of our community. The investment will benefit all of us, if ArrowCreek is the premier 36-hole golf course community in the area.
Note to ArrowCreek Truth from ArrowCreek411:
Maybe what FOA and ArrowCreek Truth “Forgot” was that FOA hasn’t told the WHOLE ArrowCreek Community any of the above dollar “Facts” in writing before! So, THANK YOU!! Those who have access to time and computer systems have been able to get at FACTS that are out in legal documents in the judicial system and have shared them – but those facts have been denied and denounced without any explanation by “the other” side. However, the FACTS according to the FOA? Well, we are still waiting for them! Bring them on! Do tell! How about telling the WHOLE ArrowCreek Community how much of the $1.3 million is going towards the DIRT that we are being pushed to buy? So, given the breakout exposed above, the ArrowCreek Community is expected to reimburse the FOA for all its expenses of the last year? So, whose idea was this any way? What exactly was the idea? Why wasn’t the ArrowCreek Community asked at the begnning of this mess what the WHOLE COMMUNITY wanted?
Assumptions?? Speaking of assumptions, who is assuming the WHOLE ArrowCreek Community is willing to assume this prize package? What is the break out of the one year track record the FOA has just finished? What is the FOA one year plan, five year plan? Why should we ArrowCreek owners make this investment? Give us undeniable facts, please! The “Truth” on ArrowCreek Truth is JUST AS opinionated as what can be found on ArrowCreek411. At least ArrowCreek411 does not censor or twist opinions that do not match our own! So far, people are surmising that the FOA Plan is to get as much money as possible and laugh all the way to the bank! PLEASE DO TELL US THAT ISN’T SO! The ArrowCreek Community is much bigger than the little group that meets at the Golf Clubhouse! The WHOLE community has been waiting for MONTHS to get the details of this secret story! PLEASE DO TELL!!!!
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Dear Anonymous ACT,
Having taken a short hiatus it’s great to see that the ‘facts’ hidden behind a NON-Disclosure
Agreement are finally seeing the light of day. I believe, however, contrary to your statement these facts have indeed been presented by the Concerned Neighbors of ArrowCreek (CNA) and a slightly modified version by the Better Friends of ArrowCreek.
Now that the ‘facts’ have been presented, let’s examine what was presented so that the entire community can absorb what you wrote. If we total ALL of the ‘costs’ that are claimed by The COMPANY, FOA LLC, they come to $2,862,173 for 525 acres, a Club House, maintenance building, peripheral other buildings bridges, viaducts, restrooms, pumps and parking lots (I’m certain you’ll correct me if I’m wrong). Now the ‘DEAL’ that The COMPANY has ‘negotiated’ with the naïve ACHOA negotiators is for $3.3 Million ($3.4 Million when loan costs are added in, but that’s not part of the negotiated agreement, is it?) for 475 acres, viaducts, bridges, water pipes and restrooms. So, it appears that The COMPANY earns $437,827 over their invested amount. It also, allows The COMPANY to have 50 acres, The Club House and assorted buildings ‘FREE and CLEAR.’ In addition, the ‘deal’ also provides that the ACHOA shall not interfere in The Club operations, or modifications and is prohibited from trespassing on the 475 acres of property. Did I miss something in your post regarding the ‘facts’ of this ‘deal?’ I certainly wouldn’t want to misconstrue any of your facts.
This sure looks like a sweet heart deal for The COMPANY and a bad deal for the owners within the ArrowCreek subdivision. Wouldn’t you agree?
Oh what fun! The opportunities for more quotes. However, I must move on to more rewarding tasks. I will say once more, though I am definitely not FOA. Plus, so far we have had the anonymous Jason; The Dragon Slayer – what next? The Argonauts perhaps? Regards, Malcolm Heaven
ArrowCreek Threats (ACT), a.k.a. The PROPAGANDA ARM of the FOA,
A good friend of mine told me of your assault on the people supporting the entire ArrowCreek Subdivision, not just one segment. So, it’s inherent that someone should defend those property owners that are being misled by your ‘facts.’
The ‘FACT’ is that the CNA people and the Better Friends of ArrowCreek did indeed publish the data you say they didn’t (My friend also spoke of your lack of reading comprehension but I told him that wasn’t possible in this day and age.). In fact, your write-up confirms that the community of ArrowCreek, should they vote yes, on your outlandish ‘deal’ with the ACHOA, the FOA gets a gift from the suckers of the ACHOA of 50 acres PLUS the Club House, Free and Clear. ALL of the money of which you speak would be paid from the ACHOA coffers to the FOA and the ArrowCreek property owners would then be saddled with your debts and all of the risks associated with owning 475 acres of useless land.
The Dragon Slayer
I bought my home subject to SAD payments – it was a cost of living here. I bought subject to CC&Rs – it was a cost of living here. FOA bought the golf course subject to SAD payments – a cost of doing business. Applying $1.3 million of the $3.3 million purchase price for business expenses, repairs to the course and upgrades to the clubhouse (which FOA gets to keep) is nothing more than a good old-fashioned business subsidy. Never forget that last year the proposal was for FOA to receive 12% above all it had invested. This year, the proposal is for a $1.3 million subsidy. Call a spade a spade.
So much shouting! My head hurts. Let’s stop and think for a moment. If the FOA had not stepped in when they did we could all be looking at a run down course headed to yet another bankruptcy, probably deliberately, so that the unscrupulous persons who ran it before could make a quick buck selling it to a developer. The FOA stalled this move and put up a lot of money at risk in order to at least buy time for a better future to be worked out. No matter what, you Grinch’s, they deserve to get some reward along the way.
Now, having said that, there seems to be a number of people who are convinced that the FOA are going to make a lot of money out of the proposed deal. OK – guess what? If you truly believe that then you too can put your money where your mouth is. They are still looking for investors, and if you want to join them the entry fee is $25,000 dollars and you too can make a lot of money. Ha!
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Mr. Heaven, of the FOA investors,
Since my friend told me about this article, I happened upon your response. There’s certainly no need to shout or try and defend what you and your friends decided to do ‘for the good of ArrowCreek.’ However, now that the ‘real data’ is out from behind the curtain of a Non-Disclosure agreement, perhaps your community can have a real discussion of issues.
From what I understand your company has offered the ACHOA a ‘deal’ to purchase 475 acres of raw land for a sum of $3.4 Million, plus some restrictions? That from my perch would appear to be the price for 525 acres PLUS a Club House ( is that not a HUGE Gift/Profit?). So, if the owners of the ArrowCreek properties vote to accept this offer, your company walks away with 50 acres PLUS the Club House PLUS, free and clear, and restrictions on the very people who voted to accept this offer. Is that correct?
You refer to an Unscrupulous person who previously owned the property and you cast a lot of doubt about this person’s intentions. From reading ACT and arrowcreek411, it would appear that some of those same scruples apply to your company. From my perch there doesn’t seem to be a material difference.
The Dragon Slayer
Dragon Slayer – I’m not quite sure what you mean by my Company? I don’t have or belong to a Company. I do support ACT and to the best of my abilities try to bring any pertinent facts that are available from various sources to the attention of residents in as calm and lucid manner as possible. As the many documents/data out there are not generated by myself – I don’t have the knowledge or the skills, I personally decide if these are convincing to me using my best judgement, or not. As should everyone else. People are free to choose whatever they wish to believe and ultimately the final vote will depend on this.
Also – if you truly believe that the FOA has the same intention as the previous owner then, to me at least, that would be all the more reason for taking control, but of course that is only my opinion.
“Why didst thou leave the trodden path of men too soon, and with weak hands though mighty heart dare the unpastured dragon in his den?” Percy Bysshe Shelley
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It is my nature when called upon.
Your denial of FOA membership rings falsely upon my ears. Providing a ‘free’ resource to an LLC is to the detriment of the community, and the free enterprise system we all cherish, and will enslave its people for years to come. The property of which you speak will not be developed without a very detrimental fight for the peace of mind of all owners.
The Dragon Slayer
Dragon Slater. “You never would hear, but turn the deaf ear” Apologies to Jonathan Swift.
I do have eyes and ears everywhere and I listen with the ears of the owl and see with the eyes of the eagle. Your words still do not have the ring of truth. Providing assets free and clear might be something for next of kin but certainly not an LLC.