ACC no longer a Cooper committee

An exciting announcement was made at the April 6 POA board of directors work session, Cooper Communities Inc., CCI, has agreed to make assignments of certain developer rights to the POA board of directors.
In particular, CCI has agreed to assign the power to appoint the architectural control committee, ACC, members and the power to amend, rescind, or add to the protective covenants. The POA board of directors unanimously approved acceptance of these assignments in a special session at the conclusion of the work session.
Why is this important to the Property Owners? Control of amending, rescinding or adding declaration and protective covenants gives the property owners strong voice in how the land in the Village is managed. While CCI's influence has been very positive in the development of Hot Springs Village over the last 40 years, its interests, and levels of involvement in our current and future development have lessened in recent years.
The property owners involved in the strategic plan's development in 2010, recognized the need to have control of our own destiny, and these two particular items have much to do with that. There is a possibility that CCI will sell off the remaining interests in Hot Springs Village, including its developer rights, and a new developer might bring in a different philosophy regarding the use of Hot Springs Village land and its development.
Control of the protective covenants and ACC will allow the property owners to keep the Village the way property owners want it. These changes will help to protect property values by the continuance of high building standards and the opportunity for active management of the lands within Hot Springs Village.
Will there be any immediate changes in the ACC or the protective covenants? None are expected at this time. The integrity of the ACC is a serious responsibility. The POA expects to utilize the land usage aspects of the protective covenants, after careful study.
What kind of changes might be made in the future? The POA needs the flexibility and the authority to re-plat lots, e.g. from residential to common property. Common property can be used for parks, added amenities, leased for small businesses appropriate to the community and specific area within Hot Springs Village, or be increased to preserve more of the natural beauty everyone enjoys. Other uses may be suggested by the property owners. The POA can now be actively responsive to their needs and desires of property owners.
How will control of the ACC and the protective covenants protect property values and enhance revenue? An active housing market is the best way to protect property values. The POA needs to continue to increase the ratio of resident to nonresident property owners. Better control of the protective covenants and the ACC will provide improved opportunities for growth using some of the options mentioned earlier.
New, prospective residents will be attracted to Hot Springs Village. This will result in increased usage of amenities, a better market for resale of homes, and provide much more reliable assessment revenue.
The Cooper family, and CCI, have given Hot Springs Village an important tool with which to manage the future. It is now the POA's responsibility to use it wisely and carefully.