HSVPOA BOARD BRIEF #26 – Nov. 18, 2022
The HSVPOA Board of Directors is pleased to share with Property Owners that, concluding a busy day at the POA offices, today we concluded two transactions that reflect our commitment to better utilize and protect our assets.
Today marked the completion of the acquisition of more than 140 acres of property formerly owned by Cooper Communities Inc. (CCI). In a previous Board Brief, we explained the necessity of safeguarding our infrastructure by acquiring land that was still owned by CCI. Today, that acquisition was formally completed and included the “Cedar Creek Property” plus several smaller properties, as well as various parcels that were quitclaimed by CCI to the HSVPOA.
In addition, the HSVPOA has closed on a contract for the purchase of 301 Balearic Rd., more often known as the Police Training and Event Center. Noted General Manger Kelley Hale, “In a commitment to re-evaluate the needs of the Village, we determined it was time to off-load this underutilized asset.” The station property was sold to Shanabrook LLC. They have stated they do not yet know what they want to do with the property, which was originally purchased by the POA in 2015 from an LLC. It was never conveyed by CCI as common property. CCI originally sold the property to a private company in 2008.
In addition to funds realized from savings throughout the POA from strategic decisions, the funds from the sale of 301 Balearic Rd. will be used to help pay for the CCI acquisition.
Respectfully provided,
HSVPOA Board of Directors
November 18, 2022
