On August 13, Silver-Bronze Corporation (SBC) held a special meeting of members at which a new board of directors was voted in. A measure also passed that allows multiple memberships to be owned by an equity member. The new SBC board of directors comprises Ken Agid, Bob Atkins, Joe Hart, Randy Johnson (president and treasurer), Rosie King, Phil Martin, Jim Maxwell, Bill Radovich and Signe Radovich (secretary).
Members of the Village Working Group met recently with Oak Grove’s leaders to discuss what Oak Grove’s majority shareholder position in Silver-Bronze means for the Village. The meeting focused on the Coto Valley Club since that facility is located in tract 6970 and pays dues to the Village HOA.
The Village Working Group’s charter is to gather facts on behalf of the community and share them with Village residents. Below is a recap of the information learned in the meeting with Oak Grove’s Robert O Hill and Alain O’Connor. The recap does not attempt to endorse, censure or critique any of the plans described by Oak Grove’s leaders.
Oak Grove said they expect the new Silver Bronze board to “move quickly” to resolve the Coto Valley Club situation. Based on Oak Grove’s conversations with SBC’s new board president, the feeling is that the financial situation with the club is precarious, which will prompt quick action, but they did not give a specific timeframe. We discussed five options for the club property, but they feel that only three are viable:
- Donate the land and facilities to the YMCA, or the 6.4-acre portion of land, with SBC getting a charitable tax write-off in return.
- Sell the 6.4 acre portion to the Coto de Caza Golf & Racquet Club. Oak Grove said initial discussions with Club Corp, owners of the golf club, indicate Club Corp would consider turning it into a “family club” with waterpark-like pools. Membership to this new facility would be separate membership to the existing Coto de Caza Golf & Racquet Club. This would require Club Corp to spend millions to renovate/rebuild/improve the facility in order to sell a thousand or more memberships to sustain it.
- Sell the land to a home builder conditioned on developing homes and community resources, such as a meeting room, tennis courts and the like, and then building homes that are palatable to Village residents and harmonious with the Village neighborhood, CC&Rs and architectural guidelines.
- Find a professional long-term operator to rent and manage the club area. This is the planned action for the equestrian center (with the current managers). This was not considered a viable option.
- Give it to the Village as is and have the Village HOA take ownership of it. This was not seen a viable option because the club’s size is large for an HOA of the Village’s size to maintain.
The meeting also delved into a discussion about the Equestrian Center, a topic of interest to Village residents but not part of the Village Working Group’s objectives. Robert O Hill said he is committed to keeping the majority of the Equestrian Center as an equestrian center and portion off 4.1 acres and the Merryhill School site to be re-zoned for low-density residential and have 18 houses built on that property. That is Oak Grove’s “Plan A.” He said he believes this option is the best for Coto, its residents and property values, and the Coto Equestrian Center.
Oak Grove’s “Plan B” keeps the site zoned as is – Commercial Center/Community – and puts in an assisted living facility and self-storage facility.
The Village Working Group members recommended to Oak Grove’s leaders that they attend an upcoming Village HOA meeting to meet with residents and explain the changes in SBC leadership, their thinking for the Coto Valley Club, and discuss Plans A and B for the Merryhill and Equestrian Center sites.