CPRMC Dissolution Election Results

Sent: Mon 6/12/2017 9:36 AM
From: Cedar Park Road Maintenance Corporation <eaflodin@q.com>
Subject: Cedar Park Property Owner

The vote on the question whether to dissolve the Cedar Park Road Maintenance Corporation took place on Saturday June 10, 2017 at the Special Meeting of all property owners that was called for just this purpose.

The response by the property owners was far and away the best ever with 65% of all parcel owners either mailing in their proxies or attending the meeting to vote.

The results are: 181 Yes votes
8 No votes

State statues require that the issue receive 147 Yes votes in order for the CPRMC to dissolve.

The Board will now commence with the dissolution process. There are a number of steps that must be taken, so it is likely the process will take several weeks.

Any funds left in the CPRMC treasury after paying any remaining bills and obligations will be transferred to the Larimer County PID 55 (Public Improvement District) that was formed in 2014 and has since had the responsibility for maintaining the roads within the Cedar Park Subdivision.

Since the annual meeting in July of 2016, the Board has been able to collect past due balances on owed dues from 11 of the 15 owners that were delinquent and had liens placed on their property. Total dollars collected was $8,745.50. Those liens have been released.

The remaining four delinquent owners have each had their property sold at the Larimer County tax lien auction. Multiple efforts to contact the owners by the Board have resulted in returned mail or no response. On the advise of legal counsel, the Board will write these accounts receivables off as bad debt and release the liens prior to filing the dissolution paperwork.

We thank all of the property owners for their input concerning the issue and the unusually keen interest in taking part in this voting process.

CPRMC Board of Directors

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