Developer to Member Transitions
In the last decade several hundreds of clubs have transitioned from developer owned to member owned. The potential landmines encountered in the process are innumerable and as hazardous. The time to assess the hazards is well in advance of the turnover. Strategies, assets, pricing, real estate sales, room to expand and ongoing relations with the HOA or community associations are just some of the key issues to consider in a developer turnover.
In 2010, CMC led a team of HOA Bord Members and Club Advisory Board Members on a best-practices tour of some of the countries finest golf course and second home communities. The purpose was to engage these communities in a dialogue regarding their respective transitions and what went right and what went wrong. Board members were exposed to the realities of how best to posture for a turnover and took that experience back to the table in making their turnover smooth and without error. In part, the exercise led to one of the most successful developer turnovers in history. Desert Mountain members approved their turnover with a 99.3% positive vote.
CMC's team can help you organize the process, facilitate the team, and develop the all important communications strategy and implementation. We have worked with some of the top law firms in the country specializing in member transitions.