Resort Components Making the Whole More than the Sum of the Parts Rebecca Anderson Fischer Sherman

n & Howard L.L.C. Denver, Colorado I. The Plan A. What is the Resort character? 1. 2. 3. 4. 5. 6. B. 1. 2. 3. 4. 5. 6. C. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Master development Village center development Whole condominium project Timeshare project Condominium hotels Subdivided lots General public Private owners and family members exclusively? Primary homeowners, or vacation homeowners? Residents or investors? RV owners Tenants Golf course Ski mountain Tennis courts Private streets and trails Water shoreline access Stables and trails Hunting lodge Lodge/restaurant facilities Health club/spa Concierge club

Who are the Resort guests?

What are the Resort amenities?

D.

What Resort basics must the developer supply? 1. 2. 3. 4. Utilities Roads and rights of way Parking Quasi-Government a. b. c. d. e. f. g. 5. a. b. c. d. e. restrictions and covenants regarding land use representation of the Resort constituents funding for the Resort operations traffic control building codes/architectural standards historic preservation and environmental conservation codes of conduct; public nuisance rules employee housing and community services transportation security services central reservations services amenity maintenance and operations

Support services

E.

How will the amenities and basics be funded? 1. 2. 3. 4. 5. 6. 7. Private association assessments General property taxes Special district assessments Club dues Use fees Real estate transfer fees Contributions to tax-exempt organization

II.

The Document Tools A. Resort Association Documents 1. Articles of Incorporation for the Owners Association. a. b. 2. a. Filed for public record with secretary of state, with generally minimal requirements for disclosure. Amended with approval by the members. Recorded in real property records, defining the property within the Resort that gives rise to rights of membership in the association,

Declaration of Covenants, Conditions and Restrictions

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and establishing the real property benefits and burdens binding present and future owners of the Resort property. b. Amended by the vote of the ownersoften subject to approval by mortgagees with respect to any modification affecting the value, security or marketability of the property covered by the declaration. Allocates to each unit or property parcel identified in the declaration (i) a share of common expenses payable to the association, (ii) voting rights in association matters, and (iii) in a condominium, an ownership interest in the common elements. Administered generally by the association board of directors (appointed initially by the developer, and subsequently elected by the owners). May be imposed to add property to the Resort regime created by the original declaration, to the extent contemplated under the original declaration or permitted by law. May provide additional covenants specific to a particular area or type of property within the Resort, with or without a second association governing the property covered by the supplemental declaration. Adopted and amended by the Association board of directors, perhaps without requirements for filing in public records, depending on state law. Governs the internal workings of the association, including members voting rights and procedures; election of board members; appointment of officers; meetings of the officers, board and association members; and notice and hearings in proceedings to enforce the Resorts governing documents. Authorized under the declaration. Adopted and amended by resolution of the board of directors. Not filed or recorded in the public records, unless required by state law. Implemented to carry out the covenants and purposes of the declaration in matters such as use of common areas. Authorized under the declaration and written by the developer.

c.

d.

3.

Supplemental Declaration a.

b.

4.

Association Bylaws a.

b.

5.

Association Rules a. b. c. d.

6.

Architectural Guidelines a.

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