Proposed Hamilton Creek Covenant Revision
Our Covenants were written and approved in 1986. Since then there have been many changes in Colorado law so that we are out of compliance. The biggest change since 1986 is the passage of the Colorado Common Interest Ownership Act (CCIOA) that specifies many things that an HOA must do for managing the HOA and providing information to owners, as well as getting owner approval of the covenants.
Our goal is to bring the Covenants into compliance with current law, eliminate clauses that are no longer important to the continued maintenance of HC as a superb mountain community, and to simplify them as much as possible so that future revisions become less necessary.
Our current Declaration of Covenants may be amended with an instrument signed by all the first mortgagees and holders of first deeds of trust and signed by the Owners of not less than 75% of the Sites, and then it must be recorded by the County Clerk before it will be binding on the Owners.
The current amendment provision is trumped by CCIOA in relation to the percentage of owners needed to amend (CCIOA caps it at 67%), but we do still need to go through the mortgagee approval process. In our revision we’re amending the Covenants to comply with the CCIOA cap of 67% and to eliminate the burdensome mortgagee approval that is not required by Colorado law. To comply with CCIOA and the 67% approval, we need 81 votes approving the amendment. Please take the time to review the Covenants and when you receive your ballot by mail after the annual meeting, please support what we have done by signing it and returning it so your vote is counted.
Examples of changes we made:
During the Annual Meeting on July 9 we’d like to answer any questions you might have about the proposed revision. In order to be efficient with our time during the meeting, it would be helpful if you’d submit your questions beforehand so that we can be prepared to address them. Please submit them to [email protected] by July 1 so that we can prepare to answer as many questions as possible at the annual meeting. We’ll mail out ballots for your votes soon after the meeting.
The current covenants and the proposed revised covenants are in the links below.