1. Yes, a rule should be issued. A rule is definitive whereas guidance opens the door to various and vague interpretations.
2. Yes, an environmental impact statement on the transfer fee proposal will show the impact that will be felt by hundreds of thousands of Community and Property Associations around the country. It will also show the trickle-down effect that impacts employees of those associations as well as the residents that live in those associations.
3. Yes, if there is to be a rule it would be advantageous to HOA’s and POA’s across the country if they were “carved out” provided the funds used were for the benefit of the association and not a benefit of a developer or investing partner of a developer.