Proposed Purchase of “Bambrough Property”: Restoring the CP Reserve

I’m writing with information for you in preparation for the Annual Meeting on August 19, when your Board expects to ask members to vote on a proposed purchase of the “Bambrough Property,” offered at a nominal cost of $10 (ten dollars) by the Carter Brown Legacy Preservation Fund which currently owns the parcel. Among other assurances, the Township has advised us that the Association’s purchase of this property will not affect the zero value of other Association Common Areas, and the property will be valued at zero dollars for real estate taxes beginning in 2024. Our Bylaws require a 2/3 vote of members present in order to approve such a transaction, and while the open information meeting the Board held over the July 4 weekend was sparsely attended, the summary document linked below will provide you with background and additional detail. You’ll receive a notice of the Annual Meeting soon, complete with Agenda; meanwhile, please click on  THIS DOCUMENT and review the details for this proposal.  Please contact any Board member if you have questions.