In Colorado, the Genesee Foundation is a Planned Unit Development, developed for real estate consisting of single family detached homes and town homes. The town homes and Filing 13, Parcel 1, Amended belong to sub-associations in addition to the Genesee Foundation master association. The homeowner should provide you with information if their unit belongs to a sub association and how they can be contacted.
GENESEE FOUNDATION FACTS
A. Total units
The Foundation
Planned number of units 885
Current number of units 871
B. More than 90% of the units have designated the property address as their mailing address. The owner occupied status cannot be verified. No one person owns more than 1% of the units.
C. Less than 2% of the units are 30 days or more delinquent on association assessments. Assessments are collected by and status letters may be requested from: L.C. Fulenwider, 1125 Seventeenth Street, Suite 2500, Denver CO 80202. Telephone number 303.295.3071 (Ask for Jenna Penn)
D. The Foundation board of directors is a homeowner-controlled board. The developer relinquished control in November 1981.
E. All Foundation common areas and recreational facilities have been installed and are being maintained by the association. The amenities include: 3 clubhouses, 2 playgrounds, two outdoor pools, one racquetball court, 4 tennis courts, trash and recycling pick up, 24 hour patrol, 1200 acres of open space with approximately 10 miles of hiking trails, maintenance of 11 miles of private roads owned by the Foundation.
F. The title to the units is held Fee Simple.
G. Insurance
1. Insurance coverage is provided on the Foundation common areas and recreational facilities through State Farm Insurance. Agent, Arthur Buschell, 303.232.1225. The policy amount is $1,000,000 with 100% replacement value. The Association also carries an umbrella policy. Information on insurance for individual units must be obtained from the individual unit owner or their respective sub-association.
2. The Foundation maintains Directors and Officers liability insurance. A fidelity bond is maintained by L.C. Fulenwider, the Association's accounting firm.
H. Assessments
Calendar Year 2005 - per quarter
Single family - $415.50
T H - $415.25
