Friday, March 30, 2012

Trump vote highlighted differences

Residents' decision this week to sell The Point Lake and Golf Club to Donald Trump resulted from two votes - one of which was quite close.

Donald Trump's son Eric told the Observer after Thursday's night vote that he and his father were pleased with what he called "overwhelming" support.

Homeowners were asked to vote on two issues affecting the sale of the exclusive Lake Norman club. One vote involved club members, whose votes were weighted depending on their membership levels. Those with golf memberships, for example, had the most votes.

Of the 1,793 weighted votes cast, 73 percent supported a sale, compared to 27 percent against the sale. Many of the club's golfers had favored a sale, residents have told the Observer.

In the other vote, homeowners were asked to vote on approving an amendment to documents governing the homeowners association. Fifty-one percent of total property owners were needed to approve the amendment, which would allow the sale.

That vote was closer: Roughly three-quarters of the 864 property owners voted. Of those, 450 homeowners, or 52.1 percent, voted yes.

Residents who voted yes to a sale have said the club would benefit from Trump's deep pockets and passion for golf. They expect to see better food, enhanced facilities and possibly rising home values because of Trump's involvement. Opponents say they worry about rising prices and disruption to their quality of life.

Crescent Resources developed the Nantucket-themed community and club in the late-1990s. All homeowners in the roughly 900-lot community must belong to the club. During the past few months, the prospect of a sale to the Trump Organization stirred up emotions among neighbors, pitting some against one another.

The sale is expected to close April 5.


Anonymous said...

Yet, we have the iconic Quail Hollow Wells Fargo tournament? How did they allow this competition, ...weak little fis in a small bowl

George Hanson said...

"All homeowners in the roughly 900-lot community must belong to the club."

Why do you keep saying this? It is not true.

They strongly encourage membership by suggesting that if you do not join, in the future when you decide to sell your house the club will probably deny your buyer membership, thereby rendering your house WAY LESS attractive than the one next door that does have so called membership rights, but it is by no means mandatory.

It's right there on the club website, check it out.

Anonymous said...

Where do i get the artificial Trump rug weave? Do they do plugs or sod?

Anonymous said...

Homeowners become 'community members' which still need to pay dues and fees. They are not required to acquire 'equity memberships' which may or may not be available when homeowners later sell their home

George Hanson said...

What happens if an initial purchaser in The Point does not apply for membership during the reservation period?

Initial retail purchasers who do not acquire a membership during the reservation period and the subsequent purchasers of homes and homesites may acquire a membership only if one is available and not reserved for sale to other select invitees of the Club. If an initial retail purchaser of a residence or homesite does not acquire an equity membership prior to closing, it is highly unlikely that a membership will be available at a later date. After closing of the purchase agreement, there is no guarantee or assurance that an equity membership will ever subsequently be available, and neither the initial purchaser nor any subsequent purchaser will have any continuing opportunity to obtain an equity membership.

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Anonymous said...

What happened to the "how's business" guy? he didn't last long.

he was funny. "How's business?"