HOW IS THE PAR CLUB FUNDED

In order for Par Club to fulfill its mission to safeguard the quality of life in the Village, it needs the support of all the Village residents.

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Residents are typically asked to join Par Club once they have closed on their purchase of a home in the Village. New residents are asked to make a one time contribution to become Par Club shareholders, the majority of which does not cost the homeowners anything out of pocket.

Each household is asked to provide a promissory note in the amount of $20,400. This is not a cash contribution, it is instead a personal commitment that provides a portion of the collateral that Par Club uses to obtain financing if it needs to purchase a home. Par Club has never needed to call the promissory notes and these notes are cancelled when a resident leaves the Village.

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In addition, each home is asked to make a one-time cash contribution in the amount of $13,600. These funds support Par Club's operating costs such as insurance or audit fees and are, at times, also needed to cover the carrying costs on a home the Club has purchased.