Federal Point Yacht Club
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What Federal Point Yacht Club's governing documents say
Federal Point Yacht Club is a single-family residential community in Wilmington, NC, with a marina, pool, and clubhouse. The community is governed by a homeowners association (Federal Point Yacht Club Association, Inc.) that maintains common areas and enforces rules. Membership in the association is tied to lot ownership or boat slip rights, with four membership classes (Charter, Class A, Class B, Class C).
- Membership classes & boat slips: Class A members (lot owners) get exclusive use of one specific boat slip; Class B members own a boat slip independent of a lot; Class C members have common area access only, no boat slip; Charter memberships are held by the developer and are freely transferable.
- Assessments & fees: All members except Charter members pay regular assessments set by the Board, plus possible special assessments (over $1,000/year requires majority vote) and violation assessments up to $500 per occurrence. Assessments become a lien on the membership and lot if unpaid, with 18% annual interest.
- Common areas & amenities: Common areas include private roads, marina facility, pool, clubhouse, and landscaping. The association maintains these and provides security, garbage removal, insurance, and a 10% contingency reserve.
- Architectural control: The Declarant (developer) acts as the Architectural Committee initially; after the Declarant no longer holds any membership, the Board appoints the committee. All lot improvements require committee approval.
- Property disclosures: Lots were filled with debris (bricks, blocks, cement) and are sold 'as is' with no warranty on below-ground conditions. The marina operates under permits as a 'closed-head, no live-aboard' facility.
- Voting rights: Class A members have 2 votes per membership; Class B have 1 vote; Class C have none; Charter members have 3 votes. A 60% quorum is required for meetings.
- Transfer & leasing of memberships: Charter memberships are freely transferable; all other memberships require Board approval for transfer, assignment, pledge, or lease.
Key facts from Federal Point Yacht Club's documents
- Community type
- exclusive residential community of single-family residences (Statement of Purpose)
- Legal name
- Federal Point Yacht Club
- Developer / declarant
- Federal Point Yacht Club Limited Partnership (Preamble)
- Assessments & dues
- Board of Directors determines regular assessments as specified in By-Laws (Article VI Section 3)
- Reserves & fees
- contingency reserve equal to 10% of sum of specified expenses (a) through (k) to fund unanticipated expenses (Article VI Section 2(l))
- Architectural approval
- yes, for any improvements subject to Architectural Committee approval (Article VII Part 1 Sections 1 and 2)
- Insurance
- Association carries hazard insurance on Common Areas and public liability insurance (Article VI Section 2(i))
- Use restrictions
- yes (single-family residences) (Statement of Purpose)
- Voting & meetings
- Class A: 2 votes; Class B: 1 vote; Class C: no vote; Charter: 3 votes (Article IV Section 7)
Related associations
Nearby (within 500 m): Basin Park · Carolina Beach Village · Island Forest · Flagship Villas
About this HOA
Federal Point Yacht Club is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for Federal Point Yacht Club: 1 CC&R. Last updated 2026-06-01.