Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 1 of 9 Bankruptc y I ssue : Appe llate Co urt Opinio n T hat Hig hlig hts F o rmatio n I ssue F ixable
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 2 of 9 Sinc e Our L a st He a ring GO-Re fo rm Surve y Re sults (Surve y De live re d T o E ve ry Ho use ho ld I n T he Co mmunity) F ac e -T o -F ac e With T he Cre dito rs Co mmitte e I nfo rmal Me e ting s Be twe e n CC Me mbe rs and Bo ard Me mbe rs T o wn Hall Me e ting s F o r T he Co mmunity As A Who le
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 3 of 9 GO Re - F orm Surve y All Garde n Oaks ho me o wne rs (~1400) in Se c tio ns 1,2,3,4, and 5 we re maile d surve ys, re g ardle ss o f whe the r o r no t the y re side d in Garde n Oaks 311 re spo nse s we re re c e ive d by Aug ust 2018 de adline No t e ve ry que stio n re c e ive d a re spo nse
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 4 of 9 GO Re - F orm Surve y Re sults Scope of HOA Responsibilites Do You Want a New HOA? No, 19% Only DRs, 35% Expanded Responsibilites, Yes, 81% 65%
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 5 of 9 GO Re - F orm Surve y Re sults Type of Funding Mechanism? GOMO's Remaining Funds? GOCC, Annual, 23% 24% Split Funds with Re‐formation GOMO, 5% Effort for New Remain HOA, 50% with Mandatory, GOMO, 76% 16% Split Funds ‐ None to GOMO, 6%
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 6 of 9 GO Re - F orm Surve y Re sults Which DRs Are Outdated? Are the DRs Outdated? Enforcement Other, 7% Structure, 10% # of Board Paint Members, Colors, 7% 2% Frequencey Garage of Fee, 6% Amount of Size, 17% No, 40% Fee, 14% Yes, 60% Garage Building Apartment Lines, 7% Restrictions, Dwelling Height of 13% Types, 7% Dwellings, 11%
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 7 of 9 GO Re - F orm Surve y Re sults Combine HOA and GOCC? Standalone, Single, 50% 50%
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 8 of 9 Surve y Re sults/ Me e ting s Are as Of “ Agre e me nt ”: Se rvic e s Of T he Civic Club and the HOA pro bably ne e d to be c o mbine d at so me le ve l (c o mbine s re ve nue with se rvic e s); Amo unt o f the HOA F e e Ne e ds T o Be Re duc e d; F e e Sho uld Be Madato ry; De e d Re stric tio ns Ne e d T o Be Ame nde d; Mo dify By-L aws T o Addre ss L e g ac y L e ade rship I ssue s And T o Pro vide F o r E xpande d Se rvic e s
Case 18-60018 Document 63 Filed in TXSB on 12/04/18 Page 9 of 9 Whe re We (De bto r/ CC) Disag re e T – Chang Opinio n fo und that the Pe titio n he Ba nkruptc y Issue Co mmitte e tha t ame nde d the De e d Re stric tio ns pro viding fo r the mandato ry fe e struc ture was flawe d. De bto r be lie ve s that this issue c an be e ffe c tive ly de alt with in the Bankruptc y Pro c e ss, allo wing the De bto r to e me rg e fro m bankruptc y intac t and immune fro m furthe r“fo rmatio n” attac ks. CC appro ac h is to “ac kno wle dg e ” fo rmatio n flaw, and re quire the ne ig hb o rho o d to re -fo rm fro m sc ratc h utilizing the T e xas Pro pe rty Co de , addre ssing the ide ntifie d issue s in a ne w pe titio n and ame ndme nt pro c e ss o utside o f bankruptc y. F undame ntal “bankruptc y” disag re e me nt.
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