Title
Discussion and update on the One Thirty Business Park Property Owners Association.
Summary: PCDC is part of the One Thirty Business Park Property Owners Association (POA). Back in 2017, PCDC's CEDS 1.0 document directed PCDC to work with the 130 Commerce Center owners to form the property owners association for administration and maintenance of commonly held property. In October 2018, the PCDC created the One Thirty Business Park POA in cooperation with all property owners through signed agreements. The agreements held that the PCDC would cover all business park maintenance for the first 5 years of the POA (including the Army Corps of Engineers annual review and maintenance that was required for five years) and then the POA would take responsibility for the commonly held property after those five years.
POA Board of Directors and Officers have met annually to semi-annually since 2018. Key actions have included setting an annual assessment for all property owners of $115 per acre per owner lot for maintenance and fees. As the PCDC continues work on the Helios Way Right in/ Right Out project, the POA is prepared to accept the 1.3 acre private drive once PCDC funds and completes road improvements.
Staff Recommendation
Discuss Only
Supporting Documents
Drafter
Terri Toledo, Interim Executive Director