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Dear Heritage Todd Creek Homeowners,
Over the past several months, the HTC Master Association has discussed with HTC Golf Acquisitions, Inc. the potential purchase of Golf’s ½ undivided interest in the Clubhouse. Golf introduced this topic during our conversations about updating the existing Co-Tenancy Agreement. Pursuing this purchase has had support from the HTC community in the past, and most recently in the community survey results. The Board has shared updates on these discussions during our monthly Board meetings.
We are pleased to share that the Master Association and Golf have reached a tentative agreement: the Master will purchase Golf’s ½ interest in the Clubhouse for $2,250,000. If finalized, this transaction will give the Master full ownership of the Clubhouse and the surrounding 10-acre parcel. The closing is targeted for September 30, 2025. (We are not purchasing the golf course.)
Several details remain to be finalized, including lease agreements for Golf’s continued use of the pro shop, cart storage, and access to certain shared areas such as the parking lot, cart paths, and staging area. We do not anticipate significant issues in finalizing these terms.
Under an agreement between The Grill at Todd Creek and Master, The Grill will continue as the restaurant and food and beverage provider in the Clubhouse for the foreseeable future.
To fund the purchase, the Master Association will use a combination of Capital Fund resources and a short-term loan. To repay the loan, we will ask homeowners to approve a one-time special assessment of $800 per lot. If approved, homeowners can pay in full or over 12 months, with the possibility of a 6-month extension based on individual needs. More detailed information will be shared in the coming weeks. The special assessment is expected to appear on the District Delegate election ballot in mid-August.
This proposed acquisition is a major positive step for our community. Full ownership of the Clubhouse would eliminate the limitations of the current co-ownership structure, giving the Master full authority over the use, upkeep, and appearance of the facility. It would also open the door to expanded revenue opportunities from the restaurant and event spaces. The Co-Tenancy Agreement, created 13 years ago, has long presented challenges due to the differing goals of Golf and the Master. Moving to sole ownership by the Master Association is a meaningful opportunity to align control with the interests of our homeowners.
We understand that many homeowners will have questions. To ensure open communication, we will host open forum meetings where you can learn more and ask questions. We will also provide updates through email for those who cannot attend. We encourage everyone to stay informed through official channels—rumors and speculation only lead to confusion and misinformation. If you have questions, please contact us at Masterassociation.HTC@outlook.com.
Thank you for your continued engagement and support.
Your HTC Master Association Board of Directors
Dan Daywalt - President
Corky Kahn - Vice President
Jim Mudd - Secretary
Gerald Madrid - Treasurer
Gary Wickham - Board Member
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