Revised construction regulations

At a meeting on January 24, 2011 the Board determined that new homes and those presently under construction shall be subject to the following conditions:

  1. That provided all other conditions have been met, new construction approval shall be granted conditionally upon a $2,500 building fee being paid in advance for each new dwelling.
  2. Once construction approval is granted, based on the submitted drawings the Maintenance Fee shall apply with a 50% discount less the Indenture Charge (the “Provisional Maintenance Fee”).
  3. If construction approval was granted prior to January 24, 2011, the Provisional Maintenance Fee shall apply from May 1, 2011.
  4. Upon submission of the Occupancy Certificate to the HOA or the first anniversary of the commencement of the Provisional Maintenance Fee, the standard Maintenance Fee shall apply in accordance with the Licence Agreement.

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