Keeping Your Eye on Coronado Roads

*************************************** The Following article was published in Asociación de Residentes de Playa Coronado, Aňo 1. No. 1 Marzo 2008. It has been tranlated from Spanish by Word for Word Language Services (6786-0854) *************************************** As all Coronado residents know, one of the most attractive things about Coronado is the security and the privacy of this residential community. This charming area has streets, avenues and green areas that are private property; therefore, their maintenance is not the responsibility of the Ministry of Public Works (Ministerio de Obras Publicas), but of the people of Coronado. That’s the dilemma that we have faced for the past three years. Coronado has grown so much that the initial promoter, Coronado Golf Development (Desarrollo Golf Coronado) is not able to continue donating funds for the maintenance of the streets. Then, The Coronado Beach Residents Association, a nonprofit organization, is the entity that is concerned with current infrastructure issues.  In an attempt to preserve the private nature of the streets, the association has been talking to Coronado Golf Development for 12 months.

The search for the best way to resolve this issue without emptying residents’ pockets has not been easy. But someone has to attend the expenses of the maintenance of such infrastructure. After careful analysis, the association has come to the conclusion that each owner must recognize their contribution on the basis of the surface area of the lot. The owners of apartments will split the amount assessed to the property as they also use the roads. The security gate is still useful and it must continue watching over to control the good use of this infrastructure.

Coronado Beach Residents Association has come to an agreement with the representative of Coronado Golf Development in order to receive as a gift and a grant the entire infrastructure defined on the urbanization plans, including the streets, avenues and green areas.  Ownership will be transferred into a trust.  This trust is will be negotiated with Banco General making it a licensed fiduciary entity and delegating to the Association the power to control the maintenance of the infrastructure.

The Association board of directors, chaired by lawyer Luis Ovidio Rodriguez, expects to have the drafts of the documents accepted among the relevant parties in next few months, then present clearly to the Assembly of Residents, which must make final approval of the agreement.    
The project has come out less expensive than originally budgeted and any surplus will be use for maintenance of the road. A Controller Committee will be chosen to keep close watch over expenditures and inform residents of budget status.   Payment of at least of 50% of assessed contributions will be due upon approval and the balance upon completion of the project.