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Submitted by: Chani Doggett
Overdale Water Association is currently working to sell our water rights to Tam O’Shanter Home Owners Association. The Tam O’Shanter Board voted to fund a due diligence investigation to determine the feasibility of water rights acquisition. Specifically, they hired Aspect Consulting to complete a hydrologic assessment and engage with the Dept of Ecology to assess the feasibility of transferring the water rights to the their HOA upon purchase. In consideration of the costs associated with that study, OWA and Tam O’Shanter have signed a Letter of Intent on 1/27/21 that gives Tam O’Shanter the right to match any competitive offers for the water rights for one year. This is our last attempt at sale of the water rights. Once Tam O’Shanter has completed their feasibility study, we will either negotiate a sale to them or donate all rights. Either way, any funds remaining after paying expenses will be used to pay down outstanding assessments – the difference is in how much we will have available to pay at that time.