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Bayside September 2025 Founder Update

Dear Bayside Community Homeowners,

As summer draws to a close and we enter the fall season, we want to take a moment to share several important updates regarding the Bayside community. In this Founder Update, you will find information on the next steps for the hotel site and an update regarding the conclusion of developer control and Founder representation. Each of these items reflects our continued commitment to maintaining Bayside as a well-cared-for and thriving community.

Update on Hotel Site Status and Next Steps

As previously communicated, following Beacon Hospitality's decision to indefinitely pause development on the hotel project at Bayside Community, Carl M. Freeman Companies (“CMF”) has assumed direction and control of the site and is actively exploring future opportunities for its use.

As part of our commitment to maintaining a clean and welcoming environment, CMF will remove the existing construction fence. Given that the summer and event season has concluded, and the primary purpose of the fencing was to prevent gatherings and unauthorized parking during Freeman Arts Pavilion events, we have determined that installation of a new fence at this time is unnecessary. We will revisit fencing options in the Spring, in alignment with plans for the upcoming Freeman Arts Pavilion season and direction of the future for the site. In the interim, as cooler temperatures set in, the site will be maintained to ensure a neat and aesthetically pleasing appearance.

Notice Regarding Conclusion of Developer Control and Founder Representation

In accordance with the Charter, the Developer Control Period concluded on December 31, 2024. This milestone marked the beginning of the Founder Membership period, which remains in effect for two years following the end of the Developer Control Period – or until an earlier date as determined by the Founder. As such, the Founder Membership is currently set to remain in effect through December 31, 2026.

At this time, however, the Founder has made the decision to voluntarily waive its right to appoint a representative to the Board of Directors of the Bayside Community Association, Inc. Formal written notice of this decision has been provided to the Owner-elected Board members.

This decision was not made lightly. It reflects the Founder’s concerns regarding certain actions taken by the Owner-elected Board since the transition of control – actions that, in the Founder’s view, are not consistent with the Charter or the guiding principles upon which the community was established. These include, but are not limited to, the formation of an Independent Transition Committee, with certain authority delegated to that Committee, and the imposition of a resale fee – all of which the Founder believes fall outside the scope of the Charter.

Despite Founder Appointed Directors’ efforts to articulate positions and rationale at open Board meetings over the years, it is evident that the Founder’s ability to influence decisions of the Board is limited. We believe that stepping away from the Board at this time may help foster a more constructive and collaborative environment for addressing the Association’s operational and financial matters at the Board level, and between the Founder and the Board. This decision will also create an opportunity for another Owner to join the Board – one whose voice may be more readily heard and whose contributions could further the collective interests of all Bayside members and stakeholders. We remain committed to the well-being of the community and are hopeful that this transition will support continued progress as well as foster a more positive relationship between the Board, the Association, and the Founder.

We are sincerely grateful to the many Owner volunteers – both past and present – who have served on various committees and the Board of Directors. Your time, effort, and commitment have played and will continue to play a vital role in making Bayside the exceptional community it is.

We remain proud of the role we have played in the development and evolution of Bayside, from its inception as an idea over 25 years ago to the vibrant, award-winning, diverse, amenity-rich resort community it has become. Though the Founder’s participation on the Board has concluded, our strong presence within the community will remain. Through our affiliates like the Bayside Resort Golf Club and retail centers such as Bayside Marketplace and Bayside Corner, we look forward to continuing to support and contribute to the life and vitality of Bayside.

Thank you for your continued interest and support.

Live Bayside,

 

Carl M. Freeman Communities

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