Town Hall Meeting
Tanner Trails Subdivision
Wednesday, October 29, 2008 – 6:00 p.m.
At the North Aurora Activity Center (1 N. Lincolnway)
Agenda
I. Status of the Bankruptcy
a. Neumann is liquidating and will no longer exist when it is over
b. All of the lots Neumann owned have been sold off
c. Neumann is or will be relieved of all obligations by the bankruptcy court
d. The Village called the LOCs to complete the work Neumann did not finish
e. Neumann still needs to enter an order dealing with Tanner Trails acknowledging voluntary relinquishment of control of the HOA
f. Transfer title to the open space/common areas to the HOA
g. Transfer the public improvements to the Village once completed
II. Status of Completion of Neumann Homes’ Obligations
a. Public Improvements
b. Individual Lot Improvements
c. Wetlands – County Issue
d. Issues that are not covered by the LOC’s & Individual Lot Bonds
III. What property owners need to do
a. Contact and hire an attorney to get an opinion on whether they can takeover now (without court order) or seek the court order
b. Set up election of HOA Board and elect Board members
c. Prepare deeds to the open space/common areas and take title to them
IV. Discussion
a. Comments
b. Questions
V. Adjourn
