Lake Park/Re-CS 930129The City With Beaut' u
P.O. Box 478
Coppell, Texas 75019
214-462-0022
FAX RO. 214/393--0948
PLEASE DELIVER THE FOLO~II. NG PAGES TO:
FIEH:
EXTENSION:
NUMBk'~ OF PAGES (INCLUDING COVER SHEET:)
TELEPIR)NE NO: (214). 462-0022 &ND ~q[ ~ t-d=Su~ SmnUtnG ~tttS t~AX.
TI~ YOU.
January 27, 1993
UNIVEST PROPERTIES, INC.
12201 Merit Drive, Suite 170
Dallas, Texas 75251
Mr. Gary Seib
Director of Planning and Community Services
City of Coppell
P.O. Box 478
Coppell, Texas 75019
Re: Waterford at Lake Park, Coppell, Texas
Dear Gary:
As discussed, we need a solution for the homeowners who are acquiring the small parcels of land to add
to their existing lots in Waterford at Lake Park for the initial purpose of fencing their combined
property. You requested that consideration be made to replatting those lots in order to conform with
the existing fence ordinance. This suggestion has been pursued and we believe is almost impossible to
accomplish for the following reasons:
The additional land (that is the land adjacent to the existing platted lots in Waterford Lake Park)
is not in the Coppell Munidpal Utility District. The land in Waterford at Lake Park is in the
Coppell'Municipal Utility DiStrict and we have been advised that replatting lots induding
property both within and outside of the CMUD District would cause major ad valOrem tax ~
administration problems for the taxing authorities and also the homeowners.
Several lots in the hands of their present owners have objected to an overall replat. These are
primarily homeowners whose property is not affecteci and are not benefiting from any change.
o
Our existing lender does not want to replat as it would confuse or harm his present collateral
position. A replat would define the replatted and extra land into one lot and block number that
would make it very difficult and burdensome to redefine for each lender. His objection is
reasonable in that financing is in place for the existing homes through a different lender than our
present lender.
°
Several of the existing homeowners with financing cannot add the additional land to their
present loans without subjecting the present home loan to a refinancing of their present home
mortgage. The refinancing would require new fees as well as in at least two cases subject the
loans to higher rates of interest. Also some homeowners want to pay cash for the additional
land and others are seeking third party financing. The lenders would still be different, and you
cannot have a situation where both lenders have the same collateral by a lot/block definition as
mentioned in 3 above.
The properties in Waterford at Lake Park were developed by Wiseco Land Development, Inc.
and this additional land is currently owned by Univest Properties, Inc. The title companies have
questioned how the replat would affect already issued title policies for all of the affected lots.
Mr. Gary Seib
January 27, 1993
Page 2 -
These factors require an alternate solution in order to permit these small parcels to be added to the
existing home sites when they are only primarily wanting to fence the property and use it for
recreational purposes. Therefore I am herein requesting that another alternative be pursued to
accomplish the homeowners being able to fence in the combined property into one enclosed area for the
existing lots platted in Coppell as well as the additional land they are to acquire. This alternate could be
a variance to the fence requirements and would only affect lots 10-E thru 27-E as shown in yellow on the
attached drawing. This variance to your existing fence ordinance should give you the consistent and
common method for pursuing fencing and recreational use of the property and also offer the least hassle
to both the City and the homeowners. As soon as you have had a chance to review this situation, I
would appreciate hearing from you in this regard.
Very truly yours,
Glen A. Hinckley
President
GAH:lw
Attachment
?.2 ACRE
LAKE