Based on input from the community, the CGHOA board recommended changes to the Declaration of Covenants. We need 75% of the community to approve these changes. In total, we currently have votes from only 37% of the community. If you have not voted we ask that you please do so. These issues are crucial for maintaining the integrity our community. Below we provide a brief rationale and summary of the changes and instructions for voting:
Change 1 – Leasing Amendment
Rationale: Over the past several years, large investment firms have purchased approximately 11% of homes in the Atlanta Metro area. These firms are still aggressively purchasing homes in our area and putting them up for rent. In order to maintain a resident-owned community, the CGHOA Board voted to pursue a Leasing Amendment to the Declaration of Covenants.
Summary of the Leasing Amendment:
- Anyone purchasing a home in our neighborhood will be required to live in the home for the first year; this will deter corporations from buying up properties for rental purposes.
- A 10% cap on rental properties would be set (with exceptions for special circumstances).
Change 2 – POA Amendment
Rationale: Our lawyer recommends that we change from an HOA to a POA (property owners association) to streamline the administrative processes of community management.
Summary of the POA Amendment Benefits:
- The Board will provide the budget to the owners at least 30 days before the annual meeting, versus the 20 days now required.
- New homeowners Capital Contribution Assessment (paid at closing) will be capped at the amount of the annual HOA dues. Currently it is capped at $400.
- A Foreclosure Administrative Fee in an amount up to the annual HOA dues will be charged if a foreclosure deed or a deed in lieu of foreclosure is recorded in the Cobb County, Georgia records.
- Future amendments will require 66.6% of the total eligible homeowners to approve the vote, rather than the current 75%.
- The Board will be able to use email for official notifications, saving the Board time and saving the community several hundred dollars each year in mailing costs for the Annual Meeting and any other official notifications.
How To Vote
Please vote using the voting sheet at this link and email it to pduphare@gmail.com or print it and then place it in the mailbox at 1422 Crown Terrace. If the link does not work, please copy the following to your web browser: https://cghoa.site/wp-content/uploads/2024/06/Agreement-POA-and-Leasing.pdf
The initial letter to homeowners (sent by mail in February) can be found here: https://cghoa.site/wp-content/uploads/2024/06/Letter-to-Residents-Leasing-and-POA.pdf
The proposed POA amendment can be found here: https://cghoa.site/wp-content/uploads/2024/06/2023-POA-Amendment-Final.pdf
The proposed Leasing amendment can be found here: https://cghoa.site/wp-content/uploads/2024/06/2023-Leasing-Amendment-Final.pdf
Thank you,
Your CGHOA Board