Aug 19

Written by: host
8/19/2008

As you are probably aware, your Citrus Valley Association of REALTORS® is in the process of building a new home! By this time next year, we plan to be moved into our new office at 504 E. Route 66 in Glendora. If you attended the Open Forum Membership Meeting on June 19th, then you got a first-hand look at the beautiful design of the new building.

This meeting was intended to provide information to the membership about the progress of the project and to allow members to voice any concerns and to provide input on the new building.

Building Task Force Chair Mark Peterson and his team delivered a great presentation, explaining the progression, the purpose and the importance of the project. Originally, C.V.A.R. purchased the property on Route 66 with the intent of renovating the existing building, but after further investigation it became obvious that simply renovating the existing structure was not going to produce a building that fit the association’s needs. Therefore the Task Force, in conjunction with the Budget and Finance Committee and the Board of Directors, determined that it would be in the association’s best interest to demolition the existing structure and build from the ground up.

The total square footage of the building is estimated to be approximately 13,000 square feet. About 3,000 square feet will be rented out to a tenant (or multiple tenants). Among many great new features, the building will have a 1,800 square foot community room that will hold more than 160 people. This room will be available to community groups to rent out for large meetings and gatherings. The leadership sees this new home as a great investment in the association’s future.

Association Treasurer Thomas Baldwin provided estimates on the anticipated expenses of the building project as well as a report on the financial viability of the association. The construction of the new building is expected to cost approximately $3 million. Thomas reported that after many meetings with the Association’s Certified Public Accountant, the Budget and Finance Committee and Board of Directors are confident that the association is in a financially secure position to be able to manage the expenses of this new project. Local association dues will not be increased this year nor does the association anticipate increasing local dues in 2009. A detailed financial report of the building project will be posted on the association website in the upcoming months.

If you didn’t get a chance to attend this Open Forum Membership Meeting, not to worry! The Citrus Valley Association will continue to provide its members with updated information on this exciting project on an ongoing basis at www.cvar.net/buildingproject.  For any questions, concerns or input, please email buildinginput@cvar.net.

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