The new plan for Symphony Woods that includes several buildings and restaurants and aerial walkways looks like it is going to cost CA many tens of millions of dollars. The CA staff is suggesting the board establish a trust to oversee the construction, maintenance and operation of new Symphony Woods development as well as presumably collect the rent from these buildings. This trust is supposed to have a five-member board comprised of the CA president, two CA board members and two non-CA board members.
Some CA board members are very concerned that CA retains control of this trust and through it Symphony Woods. They are being told CA will retain control by controlling the purse strings. What does this mean? It would appear that it is expected that the rents collected will not cover the costs and that the trust will need regular transfusions of cash from CA. That would be your assessment dollar.
CA plans to have a presentation of this grand new plan Thursday Jan. 31 at 7:30 p.m. at Slayton House in Wilde Lake Village Center. Come if you want to learn more about where your assessment dollar will be going.
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