2020/21 AMENDMENT PROPOSAL by Lynn Potosky
In the late fall of 2019, the GLNA Board, with help from others, canvassed the neighborhood to successfully obtain signatures for an additional Amendment to our Plat Restrictions & Covenants. That amendment was necessary to enable us to make future amendments as needs arise, rather than only once every 10 years as the original covenants provided. After years of discussion and planning (and Covid delays), we are now prepared to move forward with the rental restriction amendment, addressing concerns about steadily rising number of rentals in Geist Landing, especially by corporate entities (many from out of state), that have been buying up homes strictly for rental income. These companies have no real interest in our neighborhood other than profit. Many of these corporate landlords don’t care about maintaining nice looking properties, curb appeal, the potential detriment of transient properties and renters who don’t take good care of the homes and yards / landscaping, etc., all of which can negatively impact our neighborhood and property values. This is happening in areas all around Indianapolis and other cities. It has been shown that the more rental homes in a neighborhood, the more property values are negatively affected. To the best of our knowledge Geist Landing’s current rental percentage is 7%. In an effort to maintain a sense of continuity and the integrity and desirability of our neighborhood, GLNA is asking for your help. We will be coming door to door again to seek your signature in support of this important amendment. Note that current homeowners are grandfathered in. This change will apply to new owners who purchase homes after this amendment is finalized and recorded, hopefully before year end. You can review the proposed amended Plat Restrictions & Covenants, together with our existing Covenants and the 2019 amendment, on our website.
2019 AMENDMENT PROPOSAL
In the Plat Restrictions & Covenants we are requesting an amendment allowing changes to be made. Our current Plat Restrictions & Covenants still have the developers name on the top. That company no longer exists and hasn’t for years. Our plats are not easy to navigate. One of those “other concerns” is to reorganize and add titles to each section for easier searching. Our GLNA Bylaws were updated in 2006. Communication is no longer just with pen and paper; we added digital wording. Prices have increased and we made some adjustments there. So, our PR & C need some adjustments also.
We (the board) are requesting to add the flexibility to make those changes with the approval of a majority of owners when the need arises. We have spent so much time and hard work getting to this point. We would appreciate your support in this endeavor. There is no hidden agenda, there is nothing the board gains from this personally. You can ask us any questions. We just want our neighborhood to remain a stable, desireable and safe place in which to live.
The amended language reads, “The within covenants, limitations and restrictions shall run with the land and shall be binding on all parties and persons claiming under them. Such provisions shall be in full force and effect until January 1, 2020, at which time said covenants shall be automatically extended for successive periods of ten (10) years unless by vote of the majority of the then owners of the lots it is agreed to change the covenants in whole or in part. Additionally, the covenants may be amended at any time thereafter upon the written consent of a majority of the then owners of the lots. Invalidation of any of the covenants by judgment or court order shall in no way affect any of the other provisions which shall remain in full force and effect.”