Resort Components – Making the Whole More than the Sum of the Parts Rebecca Anderson Fischer Sherman& Howard L.L.C. Denver, Colorado I. The Plan A. What is the Resort character? 1. 2. 3. 4. 5. 6. B. 1. 2. 3. 4. 5. 6. C. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Master development Village center development Whole condominium project Timeshare project Condominium hotels Subdivided lots General public Private owners and family members exclusively? Primary homeowners, or vacation homeowners? Residents or investors? RV owners Tenants Golf course Ski mountain Tennis courts Private streets and trails Water shoreline access Stables and trails Hunting lodge Lodge/restaurant facilities Health club/spa Concierge club Who are the Resort guests? What are the Resort amenities? restrictions and covenants regarding land use representation of the Resort constituents funding for the Resort operations traffic control building codes/architectural standards historic preservation and environmental conservation codes of conduct. Private association assessments General property taxes Special district assessments Club dues Use fees Real estate transfer fees Contributions to tax-exempt organization II. a. 5. What Resort basics must the developer supply? 1. Resort Association Documents 1. with generally minimal requirements for disclosure. 4. 6. a. 2. e. 7. 5. public nuisance rules employee housing and community services transportation security services central reservations services amenity maintenance and operations Support services E. Recorded in real property records. c. 3. 3. Filed for public record with secretary of state. b. f. 4. How will the amenities and basics be funded? 1. Amended with approval by the members. a. d.D. e. defining the property within the Resort that gives rise to rights of membership in the association. c. g. 2. Articles of Incorporation for the Owners Association. Declaration of Covenants. d. Conditions and Restrictions -2- . The Document Tools A. Utilities Roads and rights of way Parking Quasi-Government a. b. b. 2. appointment of officers. Association Rules a. (ii) voting rights in association matters.and establishing the real property benefits and burdens binding present and future owners of the Resort property. c. security or marketability of the property covered by the declaration. Architectural Guidelines a. depending on state law. and (iii) in a condominium. board and association members. Governs the internal workings of the association. and subsequently elected by the owners). May provide additional covenants specific to a particular area or type of property within the Resort. Allocates to each unit or property parcel identified in the declaration (i) a share of common expenses payable to the association. Authorized under the declaration and written by the developer. 4. Adopted and amended by the Association board of directors. Amended by the vote of the owners—often subject to approval by mortgagees with respect to any modification affecting the value. with or without a second association governing the property covered by the supplemental declaration. 6. an ownership interest in the common elements. and notice and hearings in proceedings to enforce the Resort’s governing documents. b. perhaps without requirements for filing in public records. d. Administered generally by the association board of directors (appointed initially by the developer. Adopted and amended by resolution of the board of directors. c. to the extent contemplated under the original declaration or permitted by law. meetings of the officers. 5. Not filed or recorded in the public records. d. election of board members. unless required by state law. Association Bylaws a. Supplemental Declaration a. May be imposed to add property to the Resort regime created by the original declaration. including members’ voting rights and procedures. b. -3- . Implemented to carry out the covenants and purposes of the declaration in matters such as use of common areas. b. Authorized under the declaration. 3. b.