The Hammocks

I love your neighborhood!  Its clean, beutiful and the people are great!  I am close to buying in the neighborhood and moving my whole family out but having trouble finding out any information on the HOA.  What better way to get the real story than from the people who live in the neighborhood.  I hear the builder is in bankruptcy and the HOA is in financial distress yet the neighborhood looks great.  Does the builder still control the HOA?  Do all of your association dues go towards maintenence and not to for reserves for capital projects?  If the HOA is still under control of the builder, I guess that makes sense and we will have to build our reserves later.  I assume the HOA is not in debt, but just not buildiing reserves at the current time.  When will control be relinquised to the owners?  Thanks so much for your help!

Randy Schouten

Here's a preemptive welcome to the neighborhood! I've lived in The Hammocks for a little over 2 1/2 years :). You are correct that the builder is in bankruptcy. It is the same builder for Tampa Bay Golf and Country and Live Oak. The builder still pays the HOA fees for the undeveloped lots, this is just for The Hammocks, they do not pay the HOA fees for the other two communities. My sister and her husband live in Live Oak. We have posted the association budget for 2009 on the main page of this site and also I believe someone posted it as a discussion topic. The HOA fees go towards maintenance. I don't believe we have a reserves. You can contact Lee Polk, the CAM, either by phone ofc: 813.600.1100  x112 or email lpolk@greenacreproperties.com

She should be able to answer that question for you. 

The HOA has been OK since the builder has been paying the HOA for the undeveloped lots. There still is some debt within the HOA. The control can only be relinquished when we have 60% of the property, which currently the builder has. This is not the case for Live Oak and Tampa Bay Golf and Country which is why the builder does not pay their HOA for the undeveloped land. 

I hope this helps!