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HOA NEWS | THE COLONY NEWS | JANUARY 2022 | 9 GOLF COURSE NEIGHBORHOOD MEETINGS QUESTIONS & ANSWERS The following is intended to give an overview of the questions that were asked in the golf course neighborhood meetings along with general statements that were made. It is an opportunity to share with you the questions and comments that were expressed in the meetings that you may not have been able to attend in person. We have done our best to categorize questions and consolidate similar questions. Category 1: Fingers & Slopes 1. There were multiple questions pertaining to the costs to restore and maintain the fingers and slopes. Response: The cost to restore the fingers and slopes is approximately $900,000. The ongoing cost to maintain the slopes is $270,000 annually which does not include the cost of water. 2. If we acquired the golf course property, could we restore the slopes and fingers over time? Response: Yes Category 2: Development 3. There were multiple questions asking about meeting with the City of Murrieta to discuss the potential scenarios and pitfalls of developing within The Colony's gates. Some of the items mentioned are zoning, relevant environmental protection laws (including the laws protecting blue-line streams), etc. Response: The Board is resuming its regular quarterly meetings with the City of Murrieta staff. The quarterly meetings had been on hold during the COVID-19 pandemic. The Board and Golf Course Committee have two meetings scheduled in the next few weeks specifically focused on the golf course and the issues and opportunities that surround it. 4. There were multiple questions about what areas of the golf course could be developed. Response: Holes #10, #11, #12, and #18 are the most likely portions of the golf course where development could take place as they are the flattest and widest areas and are accessible from Jackson Avenue. Any other areas become more complicated as they would need to work with The Colony for street access from Colony Drive and Avenida Florita. 5. Could the City take over the property for potential park space? Response: The City has already stated that it has no interest in doing that. As a homeowners association, we would be concerned with the many issues that surround parks at night. Those problems would be in our backyards. The Association's ability to control access to the community at our gates would be severely threatened and unduly complicated. 6. What is the value of the land to a golf course owner? What is the value of the land to a developer? Response: We do not have the answer to these questions yet; however, we are in the process of researching those figures. 7. If a developer purchases the property, how long does it take before development could begin? Response: Approximately 4 to 5 years and potentially longer depending on the complexity. IMPORTANT NOTICE GOLF COURSE TOWN HALL MEETING MONDAY, JANUARY 24, 2022 As mentioned at the Golf Course Neighborhood Meetings, the Board of Directors and Golf Course Committee will be holding three Golf Course Town Hall Meetings on Monday, Jan. 24 in the Clubhouse Auditorium. The time scheduled for each session is listed as follows: Session 1: 9 - 11 am • Session 2: 1 – 3 pm • Session 3: 5 – 7 pm. The Association's Litigation Attorney, Rian Jones, will be present and explain the proposed Golf Course Ballot that will be mailed out to all homeowners, as well as give a brief update on where we are with the ongoing Majestic Asset Management Litigation and what action is needed to be taken by the Association as it pertains to preserving the golf course. Toward the close of each of the three meetings, you will have an opportunity to ask final questions before you cast your vote on the Ballot, which you will receive shortly following the Town Hall Meetings. Due to the impending Court Hearing, these meetings will not be streamed live on our YouTube but may be available to view at a future date. Seating is limited at each meeting, making it necessary to register your attendance for a meeting you plan to attend. If you have not already registered online to attend one of the three sessions via the eBlast correspondence, please contact our Receptionist, Cindy Irving, at 951-677-4341, to reserve your seat. Be There * Be Informed * Be Involved Continued on following page

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