Our Tenth Anniversary as a Resident Owned Community

2010

 

January 11, 2011:

Becoming the owners of a senior retirement community in Florida, along with two winter R.V. parks was a pretty scary proposition for 66 part and full-time Zephyrhills residents in the year 2000. Last weekend about 275 residents and their guests celebrated that accomplishment with lots of joy, and brief speeches by dignitaries and key founders relating their task. Sleepy Hollow Mobile Estates, Inc. of County Road 54 East in Zephyrhills held a celebration dinner party (catered by Mainely New England Restaurant of Zephyrhills) at the Lions Club Hall in Zephyrhills.

Many of the founders attended, including several of the original corporate directors. Bob Andle, 78, was the first president of the corporation and Bea Joslin, 87, the first and still only treasurer of the corporation worked hard to put the $4.3 million deal together. With the help of consultant Bill Gorman of Lifestyle Choice Realty in Winter Springs, Florida, and others, the financing was put together by Colonial Bank.

Shown below is the park's first president, (from left) Bob Andle, long-time treasurer Bea Joslin, current president Jules Coté, current park manager Bill Gorman and Paul Hackney, First Vice President of Sunshine State Federal Bank. They are standing in front of a display of old and new photos of Sleepy Hollow Parks.


(Click on picture to see larger image)

In March of 2000 the residents, then rental park, learned their park was listed for sale. This put the residents into action, a task that many thought was impossible. Bob Andle did lots of talking and twisted arms of park residents. In Canada, David Hamilton of North Bay, Ontario, twisted arms of the winter Canadians who rented in Sleepy Hollow.

The original 67 members bought shares in the corporation for $19,900 each. Seventeen members bought more than one share, to meet requirements of the financing bank. Those investment shares have all been paid back. Currently there are 117 share-holders in the 156 unit park. Shares are currently valued at over $28,000 each.

When it was all over the Bank had approved the deal; in November of 2000 a small celebration was held, following the closing, in their now owned clubhouse.

Bea Joslin is still treasurer and very proud to say that the mortgage, has been “paid down by about 70%.” The mortgage is now handled by the Sunshine State Federal Bank.

Corporation President Jules Coté, a Vermont/Florida snowbird, saluted the good planning of park founders and succeeding board members. He praised the past efforts for their success, asking those present to look into the future for the long term success of the park and the good of Zephyrhills.