Dear fellow CVE residents,
I want to publicly thank my colleagues in the leadership of COOCVE, the Recreation Committee, and Master Management for their successful effort to move towards acquiring ownership of our Clubhouse and recreational facilities.
For decades, our residents have paid $5 million dollars per year in lease payments to outside owners in order to use our Clubhouse and other recreational facilities. CVE has never owned the property. Now, thanks to the hard work of the elected leaders of all three organizations, we are on track to end those lease payments and begin a new chapter of our CVE community owning our own Clubhouse and recreational facilities. As part of this important transition, the elected members of the Recreation Committee chosen by our CVE community now compose CenClub, which will formally acquire the recreational properties and oversee the ongoing operation and maintenance.
Once the purchase is complete at the end of this year, we all will own our own Clubhouse. The annual $5 million dollar lease payment will now stay where it belongs - in our CVE community! And the Clubhouse and other recreational facilities will be owned by the residents of Century Village East and operated and managed by their elected representatives of CenClub. These are exciting and positive changes for all of us, and I know you will join me in supporting them.
Master Management Board of Directors