2025 Operating Fee Notice and Notice of Election to Approve Consolidation of Districts
WildWing Homeowners and Residents,
In November, the Board of Directors for the WildWing Metro Districts (the “District”) held a public hearing on the proposed 2025 Budget. Following the hearing and discussions, the Board approved the District’s budget for 2025.
The District is pleased to announce that as part of the approved budget, the annual operating fee for each lot will be reduced by 50% in 2025, from $1,000 to $500. This reduction is a result of the successful debt refinancing completed by the District in May, which allowed us to achieve our goals of reducing overall debt, lowering borrowing costs, and decreasing the annual operational fees. With the debt refinancing completed, the District is ready to take the final step in its transition to a homeowner-controlled community.
Specifically, we are pursuing the consolidation of our current structure of five individual Districts into one unified District. This consolidation is a normal part of the District’s life cycle and is anticipated in our service plan approved by the Town of Timnath. By consolidating, we aim to eliminate redundant administrative costs and tasks associated with maintaining the current five-District structure. This is an important part of our efforts to further reduce the annual operating fees imposed on WildWing homeowners. It’s essential to note that consolidation will not change the District’s outstanding debt or any servicing requirements for that debt.
To complete the consolidation, we need your support. The District will hold an election in May 2025 seeking homeowner and resident approval for the consolidation. Additionally, we plan to increase the size of the consolidated Board of Directors from five to seven members. This increase will ensure adequate representation from all areas of our community.
As we prepare for the May election, we will provide more information to all homeowners and residents. Please mark your calendars for the District’s Annual Community Meeting, where we will discuss the proposed consolidation in detail and hold a Q&A session. The meeting will take place on Thursday, February 13th, at 6:00 PM at the Timnath Town Hall, with a Zoom video link available.
Your vote in this upcoming election is crucial for our community.
Thank you for your continued support of WildWing and the Metropolitan Districts.
Sincerely,
WildWing Metropolitan Districts