Chapter 9 - 1999 Governance Negotiations
In early 1999, for the second time in Big Canoe’s history, a group of property owners (known as COEG) entered into discussions with the Company, first to discuss a potential buy out, then (when that did not appear to be likely) to discuss how property owner involvement in the day-to-day governance of Big Canoe could be enhanced in return for buying certain parcels from the Company.
The Elected Directors had been aware of these efforts all along, and, by mutual agreement, assumed the contact role with the Developer on behalf of the POA once it appeared that the Developer had some level of interest. After reviewing the property offered for sale, the Elected Directors determined that they would have little interest in purchasing any land. Instead the POA pursued negotiations with two primary objectives in mind. The first objective was to enhance the property owners’ control of day-to-day governance within Big Canoe by decreasing the Developer’s number of seats on the POA Board of Directors. This would be accompanied by a reduction in the Developer’s “50% plus one” Type “D” membership voting rights to a lesser amount based solely on covenanted acreage owned. The second primary objective was to establish permanent ultimate boundaries for Big Canoe beyond which it could not be expanded.
COEG desired to raise money to purchase lands along the northern border of Big Canoe, and the Elected Directors represented this effort as well in their negotiations. COEG’s objective was to sell or otherwise convey the land to the State or to a land trust to prevent development of this land and thereby guarantee that it would remain in a natural state.
Before embarking on a detailed discussion of the governing conditions that the POA desired to change, and the corresponding protections that the Developer would require to protect its rights as a Developer in its new neighborhoods, the parties attempted to reach agreement on certain key elements which included price. By mid October the parties were hopelessly far apart in their respective price expectations, and the negotiations were terminated.
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About This Site
This site is presented as a resource for use by Big Canoe property owners. Information found on this site will often differ from that which is presented by the POA Board, the current administration, and some of the committees. Much of what you will see here is opinion, but the opinions will be formed from the best available information.
As property owners and users of this site, you are urged to bring attention to the good things you see as well as the bad. You are particularity urged to bring attention to acts by our employees when those actions exceed your expectations.
Property owners have strongly held views and they are encouraged to express their views on this forum. Please refrain from name-calling or attacking individuals. Keep in mind that the goal is to effect change, not create enemies. -
Recent Posts
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Recent Comments
- Chris Beechler: This proposed R&R Reserve Fund plsn needs some clsrificsation for it to be meaningful to me. Here...
- F Shead: Congratulations, very well done.
- F Shead: Must address no-bid contracts. There must be wording added to stop multi-million dollar “no-bid”...
- Larry Grizzle: I would like to think that everyone involved in this process feels they’re doing the right thing...
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- Don Wyeth: My numbers as to homes and lots may be slightly inaccurate but are close enough to establish a point....
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