Blue Heron Landing, LLC will have 16 Memberships or Owners.
Each Membership consists of:
A] The exclusive use of a specific slip.
B] An undivided interest in all of the moorages common elements.
C] Ability to vote in the decisions of the moorage.
D] A Membership certificate that documents ownership.
Each Membership is sellable and transferable to new members in the future.
Each Membership has a different market value because each slip’s size, location, and other attributes that may be different.
Each Membership has a specified monthly fee for the slip that contributes towards the operating expenses of the moorage. The monthly fee represents the cost to operate the moorage properly. The initial monthly membership fee is estimated to be $300 per month.
The moorage will hold monthly meetings. Each membership gets to vote on the upkeep of the moorage. The Members will designate a Harbor Master to deal with the day-to-day operation and maintenance of the moorage.