Protection of Oakdale Bluffs Community Property Values

A Petition From the Homeowners of Oakdale Bluffs


The Oakdale Bluffs Community Association, Inc., a Georgia corporation and the homeowners and residents of the community of Oakdale Bluffs petition Oakdale Road (U.S.) Limited Partnership, LLLP, a Georgia limited liability limited partnership (Declarant), Ashton Atlanta Residential, L.L.C., and its affiliates, including without limitation Ashton Woods Homes (collectively, Ashton Atlanta Residential, L.L.C. and Ashton Woods Homes, the Builder), and the City of Smyrna, Georgia (the City) to protect the home values of the current and future homeowners within the Oakdale Bluffs subdivision.

Protection of home values is in the best interest of Oakdale Bluffs homeowners and residents, as well as the Builder and the City, since it will maintain a positive image in the City, Cobb County, and the Greater Atlanta community. In addition, it is in the best interest of the City to facilitate the protection of home values within the Oakdale Bluffs subdivision and maintain the high standards of attracting quality housing, upstanding residents, and successful businesses to the City, which will have a direct effect on the Citys interest in protecting its current and future real property tax base.

In the Builders interest of completing the build-out of the current and final phase of Oakdale Bluffs at a faster pace, the Builder has requested from the City a variance from the current zoning ordinance governing architectural and structural standards for the construction of homes within the Oakdale Bluffs subdivision. We understand the Builder is requesting that the City modify the current zoning ordinance applicable to the Oakdale Bluffs community to permit the Builder to discontinue building three-story townhomes within Oakdale Bluffs and allow the Builder to build less expensive two-story town homes for the final phase of the community.

The residents of Oakdale Bluffs intend to work in good faith with the Builder and the City toward arriving at the Builders objective to complete construction of homes within the Oakdale Bluffs subdivision, and we note that the Builder seems to be working in good faith with the current Oakdale Bluffs homeowners.

The Builder has offered some concessions in exchange for their proposal (noted later in this petition), and the homeowners feel that these improvements may contribute to the needs of the Builder and the homeowners within Oakdale Bluffs by helping to sell the current phase and the final phase more quickly. However, the greatest concern of homeowners within the Oakdale Bluffs community is that that zoning variance requested by the Builder and construction of the Builders proposed two-story townhome product will not preserve home values and/or may cause the Declarant to adversely affect the rights of existing Oakdale Bluffs homeowners in violation of that certain Declaration of Protective Covenants, Conditions, Restrictions and Easements for Oakdale Bluffs, dated August 4, 2004, and recorded in Book 14023, Page 3486 of the real property records of the Superior Court of Cobb County, Georgia (the Declaration) and/or any implied fiduciary duties created under the Declaration.

In light of these concerns, the undersigned homeowners petition requests that (i) the Builder agree to perform one of the two options provided below (listed in preferential order), in addition to the performing the items and concessions the Builder has already agreed to pursuant to that certain letter addressed to the Homeowners of Oakdale Bluffs, dated October 8, 2007, a copy of which is attached hereto as Exhibit A (the Letter); and (ii) that the City consider the following two options while reviewing and deciding whether to grant the Builders requested variance to the current zoning ordinance applicable to the Oakdale Bluffs subdivision:


1. In order to preserve the home values of the three story town homes within Oakdale Bluffs while allowing the Builder to sell a product at a lower price point, the current homeowners would like the two-story townhome community to be constructed so that it (i) appears visibly separate from the Oakdale Bluffs community, (ii) has an entrance separate and apart from the Oakdale Bluffs three-story townhome community such that the two-story townhome community has its own entrance off of Oakdale Road, and (iii) has separate amenities from the existing amenities (pool, clubhouse) currently serving the Oakdale Bluffs community. (Given that the Builder feels that the two-story project for the final phase is their best option,)
2. Our second choice is to have the two story community separated from the three-story community with its own entrance off of off of Oakdale Rd, but to share our amenities. (Given that Ashton Woods feels that the two-story project for the final phase is their best option, AND if Option 1 is not feasible.)

Regarding the improvements and revised plans outlined in the Letter, the existing homeowners feel that the concessions proposed therein by the Builder will contribute to the Builders goal of completing the Oakdale Bluffs community and will have a favorable benefit to existing homeowners. However, the Oakdale Bluffs homeowners emphasize that these concessions do not adequately address their greatest concern of protecting their property values.

In conclusion, the homeowners and residents of Oakdale Bluffs consider that the protection of their property values is best accomplished by the Builder agreeing to do Option 1 or 2 outlined above, in addition to performing the other concessions outlined in the Letter.


Exhibit A

Letter from Ashton Woods Homes to Homeowners of Oakdale Bluffs, dated October 8, 2007