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» PSVE home page » News » News Archive » Published News Items » Commentary » Timeline » Meetings » Legal & Legislative » Market Data » Lease or Buy? |
Propositions 98/99 comparison prepared by GSMOL -click here (4 pages) Contribution Chart and List of Contributors for Proposition 98 prepared by GSMOL -click here (9 pages) Secretary of State 2008 Initiative Update, For briefs and full texts of propositions, -click here- AARP Mobile Home Fact Sheet -click here for pdf document-
PSVE Conversion Q&A: The
Loftin Firm answers to PSVE park residents' questions.
1. When are the reserve funds placed in the
reserve accounts?
The actual cash or a bond is provided as a condition of issuance of the Final Public Report. Therefore, the funds are in place before any escrows close.
2. Who actually provides the reserve funds?
Since the cash or bond has to be put up before the issuance of the final public report, the developer. 3. Can the DRE approve the final map and issue the public report before the reserves are funded? DRE will approval an amount to be funded and that amount has to funded before the final public report is issued.
4. Can lots be sold before the reserves are
fully funded?
The reserve funds are funded to level the required, but that level does not equal "fully funded" as that term is used in its legal meaning.
5. If so, who actually pays the money taken
from closed escrows--buyer or seller, or both?
Buyer pays money from closed escrows. Developer pays prior to final public report.
6. If the reserves are not fully funded
before lots are sold, how are the costs of unforseen problems paid?
Unforeseen problems are paid for from the actual cash or bond provided by the developer.
Inside
the Indian
Springs Park Conversion Lot values
in the El Dorado mobile home park PSVE Park Description The PSVE park is located
in east Palm Springs on the border with Cathedral City. It was developed
in the late 1960’s and early 1970’s and consists of 184 spaces divided
into three sections: north, 5.75 acres; central, 6 acres; and south, 15
acres. It includes a non-gated entry and an emergency exit at
the rear of the north section. Each section has a pool and spa and
some green-belt areas. The central section contains the clubhouse
and some off-site parking along with the pool and spa. The 400-foot wide Palm Canyon Wash (sometimes referred to as the Tahquitz Creek, or Whitewater River) is a Riverside County Flood Control Channel and separates the north and central sections. The south side of the wash has a levee. The official Coachella Valley Bike Path parallels the levee and then turns south and continues along the east side of the park. The wash is not
maintained and is home to a great deal of foliage and various species of
wildlife, including roaming coyotes. Because of the wide open area, the
park cannot be enclosed and is exposed to anyone wishing to enter.
Security is obviously limited with home and auto break-ins continuing to
be a problem. The wash is also directly in line with the flight path of the Palm Springs International Airport, with the landing strip being located1-3/4 miles away. The aircraft noise can be substantial, particularly during the tourist and convention seasons. During and after rainstorms the floodwater flowing in the wash cuts off access to the north section, requiring access through an emergency gate at the rear of the park. On a number of occasions, the road has washed out, or blocked with sand and debris, preventing ingress and egress for extended periods Part of the south section
is in the same flood zone area as the adjoining section of the El Dorado
park, which now requires additional foundation heights to comply with
government codes. Individual Lot Variations All PSVE lots are
generally comparable in setting with slight variations in orientation and
views. Specific lot prices should fall within the range estimated in the
previous section, with adjustments made for size and setting. A small
number are somewhat unique in that they border on a golf fairway and
others border on the wash. These have both positive and negative
characteristics that should be considered in the individual lot pricing
process.
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