If this referendum is approved by the membership, the Board of Directors, with the assistance of consultants who are subject matter experts in this area, as well as legal counsel, will enter negotiations with the developer and family owners of the Thacker Property to develop a final annexation agreement.

Updates on these negotiations will be provided monthly at Board meetings and in published the Digest. Once the specified details of an agreement have been worked out, the Board will place that agreement on a Board meeting agenda as a Discussion Topic and the following month the Board would vote on the agreement.

By going through this process, members of the Association will have multiple opportunities to provide comments to the Board before the Board votes on the agreement.

All Board meetings are open meetings and include Member Voice opportunities to address the Board.

The Thacker’s View property will be developed in several stages.

At each stage, when the individual parcels are platted with Chesterfield County, the Woodlake general assessment will become due.

This means that the WCA will begin receiving additional assessment income at each phase of the project. Such assessment income will continue for years, just as it does for the current members of the WCA.

Projected Additional Assessment Over the Years (based on the current assessment of $1,479)

Example for First 5 years:

Phase I (50 homes), $ 369,750 (5 yrs)
Phase II (50 homes), $295,800 (4 yrs)
Phase III (50 homes), $221,850 (3 yrs)
Phase IV (50 homes), $147,900 (2 yrs)
Phase V (60 homes), $73,950 (1 yr)

5 yr Total $1,109,250 Assessment income

6th yr + $384,540 Assessment income (and every year after)

Zero additional expenses are expected to be incurred until build-out has been achieved.

After that, annual operating expenses are projected to be approximately $47,000 beginning in year 6.

• Landscaping Contract additional $33,491

• Utilities (water, sewer, electric) $3,443

• Maintenance (estimated) $10,000

• Projected net additional annual revenue over annual expense in Year 6 (estimated) $340,000

• Projected additional revenue over 30 years (using current assessment of $1,479) $10,722,750

• Projected operating expenses over 30 years (estimated for inflation/none in first 5 years) $1,711,196

• Projected net revenue over operating expenses over 30 years $9,011,554

• The addition of new amenities (possible dog park, ADA playground, all-purpose athletic court, other)

• Expansion of the trail system – adds length to the existing trail system

• A trail connection for the Red Fern neighborhood to the rest of Woodlake

• No more public access to the reservoir through Thacker property (inlet off of Woolridge Road is Thacker property.)
If approved the WCA will own that property and can prevent further public access to the reservoir.

• WCA oversight of use of common property and amenities

• WCA oversight of the Resource Protection Area, the tree canopy, landscaping, and drainage

• The new Thacker’s View private properties will represent a 9% increase in the total private property parcels in Woodlake at build out.

• Completed houses would fall under WCA ARB guidelines for maintenance of the property

• Changes to landscaping, additional tree removal, and protection of the Resource Protection Area after construction is complete

would fall under the purview of the ARB and WCA Property Management staff

(AFC) Aquatics & Fitness Center and (SRC) Racquet Sports facility

At build-out, Thacker’s View will have 260 private properties. If all 260 properties were to join the AFC and SRC Racquet Sports as members, the WCA would increase the total membership numbers to an amount still less than our pre-COVID numbers. As a result there would be no detrimental impact on these usage to these two facilities.

Results from the recent Community Survey indicate that the average number of residents for each property is three persons. Applying that average of three to the new Thacker’s View property at build out, there would be approximately 780 people added to our current estimated population of 8,000.

The combined average daily attendance at both the AFC and SRC outdoor pools is approximately 390 [except for holidays like July 4]. That represents about 4.9% of our current population. Applying that percentage to the figure of 780 new residents in Thacker’s View (at build out) produces approximately 38 more residents per day that may come to the outdoor pools. There is ample capacity at both pools to handle an increase of 38 attendees per day.

The developer of Thacker’s View will be able to avoid certain costs if the property is annexed into the Woodlake Community Association.

Examples of cost avoidance: the legal expense to create a homeowner’s association and the governing documents; securing a contract with a management company to manage the community; building of certain amenities like a pool, an indoor pool, clay tennis courts, etc.; operating expenses to upkeep the property after buildout; and reserve contributions for the replacement of capital assets after buildout (trails, boardwalks, signs, lighting, amenities, etc.).

Therefore, the WCA would seek to secure a community buy-in fee from the developer that would at least equal cost avoidance factors and future replacement reserve expenses that the WCA would not be incurring if Thacker’s View were not becoming a reality. Basically, a community buy-in fee is a negotiated proffer to be paid by the developer to the WCA over the course of project construction

The WCA will try to influence the developer to incorporate amenities into the new community that the WCA does not currently have.

Suggestions include: a dog park, an ADA accessible playground, and an all-purpose athletic court, among many options available to the developer.

Whatever amenities the developer puts in that the WCA does not currently have would save the WCA from spending down the New Capital Fund, which can then be used for other new capital projects in the WCA.

REVISED: March 2025