Developer to pay Russett association

March 19, 2006|By PHILLIP MCGOWAN

The developer for the Russett planned community has agreed to pay about $70,400 to its residents association, a settlement struck after more than two years of investigation uncovered faulty construction that was supposed to be under warranty.

The seven-member board for the Russett Community Association approved the settlement last month with the developer, Russett Community Limited Partnership, the association said in a news release last week. The money will reimburse Russett for common area and neighborhood reserve funds that have been spent.

The residents association had concerns that repairs to defective stone wall facades and tennis court retaining walls - which should have been covered under warranty - were paid through community reserve funds.

The agreement addressed issues raised before May 2002. Settlement proceedings began in August 2003.

"The board is very proud that the issues were acknowledged, explained or addressed without RCA having to resort to legal action," Tim Reyburn, president of the Russett Community Association, said in a statement. "This reimbursement is a big win for RCA's homeowners."

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