Village Palos Verdes

Homeowners Association

EXTERIOR RENOVATION PROJECT

At the Annual Meeting on Thursday, October 9, 2008, a number of homeowners in attendance expressed their concerns with regard to the economic turmoil of the last few weeks, suggesting that the Exterior Renovation Project should be postponed.  It has come to the attention of the Board of Directors of Village Palos Verdes Homeowners Association that a group of homeowners is circulating a petition to delay the project.

We are currently investigating the associated cost impacts and risks that a potential delay in the project could cause.  The results of this investigation, as well as responses to other questions raised at the meeting will be forthcoming in a communication due to be mailed by the end of the week.

We ask for your patience as we continue to work to further the Exterior Renovation Project in a reasonable and responsible manner with the best interests of the community in mind.

Sincerely,

The Board of Directors

Village Palos Verdes

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