Rotarians learn about membership privileges program

POA board of directors member Jeff Atkins talked to the Rotary Club of Scenic 7 about the the POA's proposed membership privileges program. This program will bring revenue into the POA instead of foreclosure costs.
This was a program that was attempted last year but was met with resistance by Villagers. In an attempt to educate the public about the program and allay any fears the POA has recently taken every opportunity to speak to civic groups and residents.
Atkins introduced himself to the club. He was born in Texas but raised in Lafayette, Louisiana. He works in technology information services. In 1999 Atkins bought his first property in the Village. In 2002 he moved to the Village. Before moving to the Village he was living in Little Rock. He first came to the Village to play golf.
Atkins currently owns 170 lots in the Village and he takes advantage of assigning his property privileges to non-property owners.
Property membership privileges include the right to use the POA amenities at property owner rates. John Cooper Sr. included in the Declaration, Article VIII, Section 4, property owners who don't utilize their privileges, or who have more than one property can assign their privileges to someone else. Each lot of living unit is entitled to two property owner cards.
At this time there are 486 lot assignments by individual lot owners in the Village.
Beginning in 2008 over 3,000 lots owned by NRPI became delinquent. By the end of May of this year there were 5,721 lots in arrears.
Uncollected assets are over $2,000,000.
Currently, the POA has 677 lots that have been foreclosed. The foreclosure expenses exceed $380,000.
The highlights of the membership assignment program include the following. Introducing potential property owners to the Village. Generating assessment revenue, cash, on lots already in the POA inventory. Generating recreation fee revenue by assignees using the amenities of Hot Springs Village and ultimately purchasing property/home in Hot Springs Village. This program will not flood the real estate market with a large number of low cost lots.
A membership privilege will be sold at $535 per two membership cards.
The assignees do not get preference on tee times. They are bound by the same rules as property owners. If the assignees violate the POA rules, their privileges can be revoked with no due process. Assignees do not have the right to vote.
The membership will be for 12 consecutive months, renewable upon availability, non refundable and non transferable.
To purchase a privilege membership go to www.hsvpoa.org or stop by the POA administration building at 895 DeSoto Boulevard.
The Rotary Club of Scenic 7 meets on Thursdays at noon at Molly O'Brien's on Highway 7. Lunch is optional.