Ad Hoc Committee Created to Manage Flint Pond Estates



This month, Flint Pond Estates Condominium Trust (FPECT) will hold its first Homeowners Association meeting. The developer is currently the Trustee of FPECT. The developer has requested the current homeowners to elect three residents that will take part in an AdHoc Committee for the purpose of assisting in the directional decisions of the Trust. All decisions about Flint Pond Estates now and in the future until 75% of the units are conveyed to the unit owners will be conducted through the AdHoc Committee. “This is a great opportunity for the homeowners to get familiar with the routine daily management and maintenance functions of the premises. Hopefully, these members who have volunteered to become members of the AdHoc Committee will have the experience to eventually become the elected Trustees of FPECT” said Sotir Papalilo, President of Dalewoods Corporation, the current Trustee of FPECT.

As newly elected members of the AdHoc Committee, Noreen Thorne, Jason Dunn, and Greg Meyer, at their meeting they will be discussing issues related to the budget and current contracts in connection with the management of the Condominium. Members of the AdHoc Committee will be meeting the first Monday of each month at which time old and new business on the agenda will be discussed. Riney Management will continue to provide its Property Management services to the AdHoc Committee and FPECT.

Financing Secured for Park Place

United Bank has issued a commitment letter to finance the development and construction of Park Place. Park Place, a 12-unit, three bedroom, two car garage residential development designed exclusive for clientele that are 55 years of age or older, slated to be built on a private 4.5 acre parcel located on Park Street, which is very close to the intersection of Route 9 and Route 135. Now that financing for Park Place Condominium has been secured marketing is about to commence. While in the process of obtaining the necessary building permits for the demolition of the existing onsite structures, as well as, the construction of the first of four three-unit building, reservations are currently being accepted. Westwood Associates has in fact received its first reservation and feels confident that this unique development located so close to so many amenities will pre sell very quickly especially when the marketing and sales staff begin to implement their marketing plan.