Add Your Support for a Clear Path Forward for The Meadows

Dear Rainbow Connectors in The Meadows,

Like many of you, I care deeply about the future of our community and the long-term financial stability of The Meadows. That is why I want to share, plainly and factually, why I support the Board moving forward with the proposed ground lease with Benderson — and why I believe this is the moment for residents who support this direction to speak up.

At the most recent community meeting, residents spent several hours hearing from both the Board and Association counsel. Questions were asked — many of them repeatedly — about water, governance, finances, golf operations, and long-term risk. Those questions were addressed in detail by legal and professional advisors, and the agreement has been revised over time to incorporate protections and clarifications raised by the community.

Based on that information, here’s what the Benderson agreement clearly does for The Meadows.

What the Benderson agreement accomplishes

• Immediate financial relief
Under the proposed triple-net lease, Benderson would assume 100% of the operating and maintenance costs for the golf courses, including staffing, insurance, equipment, deferred maintenance, and capital improvements. These expenses are currently being carried by the Association at a cost of approximately $150,000 per month, a level that is not sustainable long term. This level is only the minimum of maintenance, and the Meadows course shows it.

• Lower debt costs for the community
Benderson will refinance MCA’s existing debt at approximately 4.5%, down from roughly 7.25%, producing immediate and meaningful savings. If conservation easements are later exercised, $3 million of principal debt would be eliminated, and the interest rate would drop further to approximately 3%.

• Professional golf operations restored
The agreement requires Benderson to operate at least 36 holes of golf and to reopen the Groves course within 60 days of signing. Benderson has indicated an expectation of investing approximately $15–25 million in golf course and facility renovations — capital that The Meadows does not have and that would otherwise require special assessments or additional borrowing.

• Clear protections for the community
As confirmed by Association counsel, the lease:

·         Retains full ownership of all property with the Meadows Community Association

·         Prohibits any additional water from entering The Meadows

·         Requires MCA approval for material changes

·         Subjects any conservation or mitigation activity to separate regulatory review and approval, with no automatic or unilateral actions permitted

These protections were discussed at length during the meeting and are clearly reflected in the agreement.

What happens if we delay or walk away

Without this agreement:

·         Monthly operating costs continue with no reliable funding source

·         Golf equipment remains at risk in ongoing bankruptcy proceedings, potentially requiring $1 million or more in replacement costs

·         Course conditions and revenue will continue to decline, affecting property values

·         Alternative proposals would require MCA to invest capital we do not have and assume financial risk the community has repeatedly said it does not want

This agreement has been under negotiation for months, revised multiple times, and reviewed by legal and professional advisors. At this point, delay itself creates risk — financially, operationally, and reputationally.

A simple call to action

If you support moving forward with the Benderson lease, please take a moment to email the Board of Directors and express your support. Board members need to hear from residents who believe this agreement represents a responsible and necessary path forward for The Meadows.

A short, respectful email of support can make a real difference.

Thanks,
Victor Aluise (valuise@gmail.com)