Home Construction Incentive

Four Seasons Property Owners Association

Home Construction Incentive

Program Announcement

In an effort to stimulate home construction on undeveloped lots, the Four Seasons Property Owners Association (POA) will offer a financial incentive program for lot owners and/or builders to construct homes on undeveloped lots. If desired, the Owner/Builder may combine up to three contiguous lots in accordance with the existing replat procedures of the POA. Upon successful replatting of the lots, the assessment for the combined lots will change to the assessment value of one lot. In order for lot owners or builders to benefit from this Home Construction Incentive Program, new home construction on undeveloped lots must be completed on or before December 31, 2018.

Prior to new home construction, the owner/builder of any undeveloped lot(s) shall fund a Home Construction Incentive Account which will function similarly to a Savings Account and will be held by the POA. The amount of this Incentive Account will be determined by the POA Board of Directors and will be based on the total of delinquent accumulated assessments, late fees, interest and any legal or collection fees associated with the desired lot(s).

The payment amount for the Incentive Account will be agreed to in writing by both the owner/builder and the POA Board and will serve as settlement for the associated lot(s) being considered. These fees must be paid to the POA in full by the owner/builder prior to the issuance of a building permit. Upon receipt of these funds, the POA will deposit the money into an established Home Construction Incentive Account. The owner/builder will continue to be responsible for the timely payment of any assessments incurred after the Home Construction Incentive Account is set up.

As stated previously, construction must be completed and in compliance with the approved POA guidelines on/or before December 31, 2018, or as extended by the POA Board. Any adjustment to the successful completion date will be made only after appeal by the owner/builder to the POA Board whose decision will be final.

If new home construction has been successfully completed on or before December 31, 2018, and it has been determined by the POA that the owner/builder is in compliance with POA Home Construction Incentive Program guidelines and requirements, the balance of the Incentive Account will be refunded to the owner/builder.

If the home is not successfully completed on or before December 31, 2018, or as extended by the POA Board, the Home Construction Incentive Account will be closed and the funds forfeited and assigned directly to the POA without further recourse.