Questions & Answers
Why is this important and how does it affect me?
Lakemont Shores POA Inc owes the IRS over $100,000 currently (increasing daily with interest and penalties). The IRS could sue and/or foreclose on the POA, which could include the POA common areas.
As a lot owner, WE, as members, each "OWN" the POA, therefore each "OWN" a part of the IRS lien. This potentially clouds titles and title insurance, keeps investors out, and provides a huge unknown factor for us as lot owners.
Also, and equally important, by dissolving the POA, it gives lot owners an assurance that no monthly fees will be collected by the entity.
What if I have a Contract for Deed with the POA now?
Contact the Receiver, John Thomas directly (918) 542-5524.
Does the dissolution process COST me money?
NO. In fact, dissolving the POA will save you from having to pay POA dues for services.
Brent Head, Guidance Properties Holdings, LLC, is a lot owner and has volunteered his labor and will front the cost of the legal and mailing fees. In return however, Brent wishes to be reimbursed as part of the Receiver's Certificate, ONLY for direct costs associated with dissolution and ONLY if there are sufficient funds AFTER the IRS lien is satisfied.
Does dissolution eliminate the deed restrictions and covenants? If not, who will enforce them?
No. The dissolution removes the Association. It will be up to lot owners within subdivisions to self enforce the restrictions if desired.
IF someone wishes to eliminate the Deed Restrictions and Covenants, that is a SEPARATE issue. Please consult an attorney for questions and legal advice.
So many things in the past have been done incorrectly. Is this being done legally and correctly by an attorney who is making sure this is done right?
YES. Tommy Dyer Jr is an attorney in Jay, Oklahoma. He is the leading lawyer for the entire region when it comes to HOA's and POA's. He knows how and what to do to make sure the POA is dissolved, the lot owners are free from the POA, and the IRS lien paid and released.
What if I have a question not listed here?
You can ask a question via email or phone. You may also ask on the Suggestions and Questions section in the Contacts page
OR, you can email directly from here:
What is the first step toward dissolution?
The first step is the Special Meeting of Members. This will allow lot owners (members of the POA) to vote on selling the common area lots and dissolving the corporation.
Follow up: What is the second step?
The second step is to have a public auction where the common area lots will be sold to the highest bidders.
The list of properties to be sold is in the Meetings and Events tab, and can be directly accessed below.
ANYONE can bid on the properties online or in person at the auction.
Second Follow up: Do I have to do anything?
As a member, you have the right to vote, but are under no obligation to. You do not need to bid on or buy any common area if you don't want. In short, you don't need to do anything. However, as a lot owner, you have the resources here to answer all your questions.
Dues and Services - will anyone collect dues or provide services?
The POA is in Receivership, has not provided services, and has no means of doing so. When the POA is dissolved, there will be no entity requiring dues to be paid.
Services, such as water and road maintenance, will be taken over by RWD12, Delaware County, and private entity maintenance.
I thought we "de-annexed". Why does this apply to me?
The de-annexation of some of the Lakemont Shores subdivisions was not done properly and was "invalidated" by Delaware County court. Officially, ALL subdivisions are still under the POA.
Personally, I would like to see the area "cleaned up". Is this going to help?
The POA has had no means for operation. With the POA dissolved, clean up efforts and lot developments will be highly encouraged by all lot owners. Guidance Properties Holdings LLC, will be cooporating with the Delaware County Sheriff's office and other authorities. Current lot owners will see the efforts starting immediately.
ALL efforts to assist transient or unauthorized guests to find suitable and stable housing will be with help and cooporation with local, county, state and tribal housing authorities.
How many subdivisions are considered part of the POA and by whom?
According to the Delaware County Tax Assessor's office and Delaware County Treasurer, there are 29 subdivisions in Lakemont Shores. Any or all of these can be considered part of the POA and ALL lot owners in these 29 subdivisions were mailed the Notice of Special Meeting of Members and are allowed a vote.
These Subdivisions are: Birchbark, Blackjack, Cherrywood Acres, Chestnut Hills, Cottonwood, Dogwood, East, Echo 1, Echo 2, Golf, Grand View, Hawthorn Hills, Heather Valley, Hickory Add, Hilltop, Lonesome Pines, Mobile Vista, Oaks, Persimmon Park, Ponderosa Park, Red Bud, Smoketree Hills, South, Spruce Hills, Sycamore Heights, The Estates, Valley View, Walnut Ridge, West.
When is the Special Meeting of Members?
May 9th, 6:00pm Central at the Lakemont Shores Volunteer Fire Department.
What if I want to vote but can't go to the meeting?
You can vote by Proxy. Information and the Proxy vote is on the Meetings and Events tab
Why is there an IRS lien?
In the past, the POA as a corporation, failed to pay IRS payroll taxes. The IRS got a judgment and gained a lien of the corporation.
How is the POA going to pay the IRS?
By selling the POA owned common areas.
If the members (lot owners) will vote affirmatively to allow the sale of the common areas, a public auction will be held. Proceeds from this sale will be used to pay off the IRS lien.
Follow up: What if the sale does not generate enough money?
Brent Head, Guidance Properties Holdings LLC, owns a substantial number of lots already and has pledged to place minimum bids on lots to ensure the IRS lien will be satisfied.
The list of properties to be sold is in the Meetings and Events tab, and can be directly accessed below.
When the auction is scheduled, ANYONE can bid on the properties online or in person at the auction.
I thought the POA was already "gone". What does it mean to be in Receivership?
The POA is a non profit corporation that has not been able to pay bills, collect payments, provide services or operate as a business. However, the corporation has a lien from the IRS. Delaware County court has granted the POA to be in Receivership. A Receiver will perform the "operations" of the corporation. However, there is little to no income, or services provided that can draw income.
Why are some lots being sold to RWD12 and The Nature Conservancy?
The POA was supposed to be in charge of the "water department" of Lakemont Shores. However, since the POA has no money to operate, RWD12 has stepped in to supply and maintain the water supply. The lots sold and transferred to them should have been designated as "utility easements", but never were. RWD12 is a non profit utility.
The Nature Conservancy has a long term lease on one common area lot and had been in negotiations for the other. They hold protected areas for safe keeping under Federal and other agency regulations. TNC currently owns several lots and is a non profit company.
You can search the list of lots here.