Waterstone Park

Key facts from Waterstone Park's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Waterstone Park

Developer / declarant

Elite Homes, Inc.

Assessments & dues

Initial annual assessment not to exceed $50 per year. After an unspecified date (likely January 1, 2006) maximum may be increased but not more than 25% per year without two-thirds vote of each class. (Section 8.03(b))

Special assessments

May be levied for capital improvements with member assent per Bylaws. (Section 8.04)

Reserves & fees

Minimum cash balance of $3,000 in Association fund at turnover from Developer. (Section 7.04)

Pets

Dogs, cats, or other household pets (domestic pets traditionally recognized) allowed, but not for commercial or breeding purposes. (Section 2.04)

Home business

Home occupations allowed as strictly construed under Louisville Metro land development code. (Section 2.01)

Signs & flags

One sign for sale/rent not larger than zoning allows. Developer may erect larger signs. Occupant name signs and lot numbers allowed. No other signs for advertising. (Section 2.06)

Setbacks / home size

Front setback per recorded plat; side yards total 10 feet with minimum 5 feet for one. Bay windows and steps may project 18 inches into side; open porches may project 6 feet into front yard. (Section 3.04)

Voting & meetings

Two classes: Class A (all owners except Developer) and Class B (Developer). Each member one vote per lot owned. Class A cannot vote until earlier of (i) Developer decision, (ii) 180 days after 100% lots sold, or (iii) January 1, 2020. (Section 7.02)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.