BRA Meeting January
25, 2010
The BRA board of directors met and passed a resolution to include all undeveloped strips of property located between a surveyed block and a road. The available land adjacent to roads and needed for county right-of-way compliance standards shall, be conveyed subject to such use.
The BRA board allowed for a residential lease
agreement with
The Board entered into a non-residential lease
agreement
that will include an air strip, boat landing and barn and grazing area
that is
currently leased by
Next Deadline date
referenced in HB 3031
The Bill states “a leaseholder shall deliver to Authority and Purchaser no less than 45 days prior to closing, at the leaseholder’s expense, an accurate survey.” Section 2(C)
Signing the Resale Contract-- What is the rush?
This question was
sent to
Patterson and he has answered that there is not urgency if you are not
trying
to close contemporaneously. However, if
a lessee is trying to take advantage of the Contemporaneous Preferred
Lenders
closing price then title companies, Preferred Lenders, surveyors and
even some
lessees will have various tasks to do their part before the
BRA/Patterson
closing scheduled for August 1, 2010.
When will the Master
survey be complete?
March 1st
seems to
be the target date for completion of the Master survey.
Where is BRA in
efforts to decommission the dam?
The BRA board
passed a
resolution in October 2009 to investigate and initiate actions to
surrender the
FERC license (decommission the dam). The
application to surrender the license requires a reason for the
surrender of the
license, with a description of the facility.
Factual information that the power generators were installed in
the
1940’s and have not worked in several years will be part of that
application. BRA must formulate a
decommissioning plan which would include how the generators will be
disabled
and how downstream river flows will be met in the future.
An engineering firm is currently working on
developing a plan. BRA staff was hopeful
that an application to FERC would be reviewed by the BRA board in April
and
submitted to FERC.
Why is there a mandatory HOA in the Resale contract?
The Resale contract
contains
language for a mandatory Home Owners Association. HB
3031 did not address an HOA. When BRA was
questioned about the mandatory
HOA in the Resale contract, Matt Phillips, Customer Relations Manager,
stated
that legislative intent was established for an HOA in the Senate
committee. Matt pointed out after a
review the Senate committee broadcast video link:
http.//www.senate.state.tx.us/archives/ramv.php?ram=00004360 at exactly
39
minutes and 56 seconds there was this discussion.
Senator Uresti asks
Senator
Estes if it is the intent of HB 3031 to be consistent with a
divestiture
agreement between BRA and any third party “according to RFB number
09-04-391and
all of its amendments?” The answer given by Senator Estes is
“definitely yes.”
Addendum 2 of the RFB allows for an HOA by stating that “Under the RFB,
the
successful bidder is free to assign all or any portion of its interest
and/responsibilities to a Property Owner’s Association. “
HB 3031 language
regarding
the resale contract, Section (b)(2)(B) states:
“Leaseholder and
Purchaser
will enter into a purchase and sale agreement in substantially the form
as
agreed to between the Authority and Purchaser, which form will be
attached to
the Contract.” The bill goes on to
enumerate eleven requirements which, “at a minimum” must be included in
the
resale contract.
Basically when
Senator Uresti
requested to have HB 3031 consistent with third party RFB, that allowed
for an HOA to be established by Patterson
as the
successful bidder.
Vote on HOA
On February 7,
2010,
Patterson informed us that he will conduct an online and postcard vote
next
month to see if it is the desire of the PK BRA leaseholders to create a
new
limited HOA. We are currently submitting
questions for more details regarding an HOA. As more details are
received, they
will be passed on to membership.
A June 12, 2010 Annual meeting at the Chamber of Commerce is being planned. Mark you calendar.