Property Repairs Wrapped Up

The 2017-2020 Hail Damage and Property Renovation is now completed and the file has been closed.

It has been an incredible community effort and a success story which has spanned three boards and four years.

The journey began with Laura Samford who spearheaded the 2017 lawsuit against Peleus Insurance Company (now Argos) seeking compensation for hail and storm related damages to the community infrastructure. Laura, John Dickey, Casey Bergen, and Lori Jo Ball (CMA) recruited a Houston law firm specializing in storm related insurance claims (Andrew Slania of Raizner Slania LLP) which ultimately brought in a $2,218,013 insurance settlement for the community.

Ty Abston secured a $900,000 construction loan in 2018 from Mutual of Omaha with very favorable terms (4.9% interest) to pay down a prior construction loan and to fund the startup of the repair work while a settlement was being negotiated.

Mica Lunt spent countless hours managing the construction crews and coordinating with homeowners and the general contractor (Rip Tide Construction Co., Written in Stone Contracting, GreenLeaf Roofing).

The 2020 board (i.e., Robert Bauer, Steve Solcher, Brian Wenning) wrapped things up by filing and overseeing the warranty repairs, restructuring the Association's finances, paying down construction debt and establishing a forward looking fund for future capital repairs.

It's a good example of a community pulling together and repairing an aging property and of the dedicated homeowners going the extra mile for the greater good of their community.

Other articles on this project can be seen here.


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