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West Orange Times & Observer Wednesday, Oct. 1, 2014 4 years ago

BREAKING: MetroWest Developer Buyout Completed

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ORLANDO — The MetroWest Master Association closed on a $2 million loan Oct. 1, to buy out developer Carl Shakarian, formally regaining three acres of land that was tied to developer rights at the office of BMO Attorneys Zimmerman, Kiser and Sutcliffe.

For the first time ever, full control of the MetroWest Master Association is now in the hands of the membership of MetroWest.

A Community Reconnection Celebration will be held on at 6 p.m. Oct. 15,  at the MetroWest Golf Club, 2100 S Hiawassee Road, Orlando, to commemorate the community’s new ownership of MetroWest. Refreshments will be served, and all are invited to attend and celebrate with their neighbors.

At the MetroWest Special Member’s Meeting Aug. 21, a majority vote of 93% of the members present, voted to buy out the MetroWest developer.

The existing MetroWest Master Association resident board will stay in place at this time. During the next MWMA elections in December, there will be openings to vote in two additional seats for the board, to bring the total number of board members to five. Then elections will take place each year, to fill the board positions for two-year staggered terms, allowing the board to maintain continuity for the membership.

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