Winfield board president: New Doubletree HOA nonprofit well-funded

2012-12-10T00:00:00Z 2012-12-13T18:39:50Z Winfield board president: New Doubletree HOA nonprofit well-fundedSusan Brown susan.brown@nwi.com, (219) 662-5325 nwitimes.com
December 10, 2012 12:00 am  • 

WINFIELD | The newly formed Doubletree Homeowners Association is moving forward without its main developer at the head.

"Randy Minas has nothing to do with the current nonprofit entity," Doubletree HOA President Randy Hall said.

Minas filed for bankruptcy last December, five months after Fifth Third Bank foreclosed on Doubletree as the subdivision's three partners battled in court over ownership.

The bankruptcy petition stayed the litigation among Minas and his partners, Anthony Meyer and Kenneth Matney, that has been ongoing since 2007, according to court records.

Doubletree has since been placed in receivership.

However, Doubletree HOA is its own entity and is not expected to be affected, say those close to the development.

Hall is among five Doubletree homeowners who now solely comprise the board since Doubletree HOA was created as a nonprofit in May.

Prior to transferring assets to the subdivision's homeowners in September, the property owners association had been operated as a for-profit, called Lakepointe at DBL Tree Property Owners' Association.

According to Secretary of State records, Lakepointe had been formed as a for-profit in 1996. A nonprofit named Doubletree West Homeowners' Association Inc. was formed in 2002 but dissolved in 2005. The new nonprofit created in May is named Doubletree Lake Estates Homeowners' Association Inc.

Hebron attorney Brian Less, who had represented the property owners association under Minas, could not be reached for comment. State records indicate the Lakepointe for-profit entity remained active as of Friday.

Hall said to the best of the board's knowledge, Minas had the right to appoint the new board until an election can be held. The first election is set for May, he said.

"Right before the nonprofit was formed, Mr. Minas started adding homeowners to the the Lakepointe board for a smooth transition," Hall said.

"They shared their records with us and transferred any assets to the homeowners," Hall said. "They did not take any profit and used the funds to run the homeowners association. I don't believe they took any money as far as we can see."

Hall said the new HOA is "well-funded, operating and controlled by the current homeowners.

"We feel we have a very unique subdivision now under the control of the residents," Hall said. "We can maximize the potential of this great subdivision."

Hall was not disturbed by the Town Council's recently pulling performance and maintenance bonds in connection with incomplete roads in some sections of the subdivision.

"To my knowledge, the performance bonds are just for asphalt topcoat," he said. "That's the purpose of the bond. If the developer doesn't perform, then the town is responsible to use the proceeds to finish the work."

Minas' bankruptcy attorney, Gordon Gouveia, did not respond to a request for comment.

Winfield Town Council Vice President Don Samburg, a Doubletree resident, said what the town wanted was the roads and infrastructure to be completed.

"We had to be proactive," he said. "We pulled the bonds and likely will do the work ourselves."

Samburg said the work involved two roads that remained just rough surface.

Samburg, an acquaintance of Minas', defended the developer, saying Minas had been transparent and cooperative.

"Everything's going pretty well. Randy has pretty much handed everything over to the POA, including the bank account," Samburg said. "I agree the legal side appeared to be somewhat perplexing."

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