Proposed Memorandum of Understanding (MOU)
Purpose: to raise funds each year to maintain year-round the entranceway to the Glenlakes Subdivision at Clubhouse Drive and CR 20.
Annual Cost: GlenLakes Golf Club, Inc. will contribute $2,000 annually. The following property owners associations will contribute $3 per developed lot annually:
Lake View Estates POA
The Gardens at Glenlakes POA
The Villas at Glenlakes POA
Carnoustie Place POA
Carnoustie Gardens POA
As additional lots are developed by the property developer, they will be added through the JPOA as appropriate.
GlenLakes Golf Club, Inc. will be the entity responsible for collecting the annual payments from the individual POAs and will distribute to the POAs twice annually an accounting of revenues collected and expenses paid.
The annual basis for the lot count will be March 1 of each year, and the payment from each POA will be due by March 15 each year. The initial payment for 2014 is due upon approval of the MOU, payable to GlenLakes Golf Club, Inc.
The funds are to be used primarily to pay for the purchase of replacement flowers and plants, mulch, fertilizer, and as needed, other times as approved by the Advisory Committee (described later). The Advisory Committee will try to coordinate as much volunteer labor as possible to stretch the annual revenue available for improvements and maintenance. When and if labor must be hired or equipment rented, it will first be approved by a majority vote by the Advisory Committee and then contracted for as appropriate. Payment of bills will be by the Business Manager of the golf course. The Advisory Committee cannot overspend the revenue collected each year, unless additional funds are raised/donated/collected. The golf course Superintendent will chair the Advisory Committee.
The Advisory committee will consist of the following seven representatives, all with voting authority:
1. Course Superintendent, GlenLakes Golf Club – Chair Person
2. Representative #1 from Lakeview Estates POA
3. Representative #2 from Lakeview Estates POA
4. Representative from The Gardens at Glenlakes POA
5. Representative from The Villas at Glenlakes POA
6. Representative from Carnoustie Place POA
7. Representative from Carnoustie Gardens POA
This MOU will remain in effect after ratification by the boards of each of the five POAs and the GlenLakes Golf Club, Inc., until amended or terminated by a majority vote of the Advisory Committee. Any increase to future funding requirements will require unanimous approval by each of the POAs and the golf course.