The Windermere Oaks Water Supply Corporation (WOWSC) board has repeatedly promoted the idea that if we sell the neighborhood non-profit corporation to a for-profit private equity-backed venture, each property owner could expect a refund check in the range of $3,000–$4,600 per property.
At first glance, this sounds great, but it is misleading.
In fact, many members may not receive anywhere near that amount—and some may receive nothing at all per some research that is being shown here on the Friends of Windermere site.
According to records highlighted by Friends of Windermere, the equity buy-in fees that determine refund eligibility vary dramatically depending on when a property was built and connected:
- Prior to October 1, 2001: Equity Buy-In = $0 (no refund at all)
- October 1, 2001 – July 31, 2005: Equity Buy-In = $1,000
- August 1, 2005 – (exact date under review): Equity Buy-In = $4,000
- Current rate: Equity Buy-In = $4,600
- (The exact dates are being researched and this post will be updated accordingly)
This means that as many as half of Windermere residents and hangar owners could receive far less than the advertised payout. Those whose homes or hangars were built before 2001 would not qualify for any refund, despite being told otherwise.
The Unanswered Question: Where Would the Extra Money Go?
If not every member is entitled to the full $3,000–$4,600, then what happens to the remainder of the sale proceeds? The board has not explained how funds will be distributed or where excess money will be directed. Without transparency, residents are left wondering whether unallocated funds will be absorbed into WOWSC operations, redirected to projects, or otherwise withheld from the community.
This lack of clarity raises serious concerns about fairness and accountability. The board should provide a detailed breakdown of how much each member will receive, property by property, and explain exactly where any surplus funds will go.
Why This Matters
For many families and hangar owners, the difference between a promised $4,600 and an actual payout of $0 or $1,000 is significant. Beyond the financial impact, the issue strikes at the heart of trust between the WOWSC board and the community. When promises are made, they must be backed by facts
Call to Action
The residents of Windermere Oaks deserve straight answers. The WOWSC board should:
- Publish a clear schedule of refunds showing exactly what each property owner will receive.
- Explain the disposition of excess funds not distributed to members.
- Stop using inflated refund promises as a selling point without acknowledging the reality of who qualifies.
- Vote “NO” to hit pause on this sale. The Board should answer these questions before transferring the gem of a water company out of the hands of neighborhood control. If they are not able to answer these questions, and negotiate a great deal, the Board should step aside for another Board to do so.
Until these questions are answered, the advertised payout of $3,000–$4,600 per property remains misleading. Transparency is not optional—it is the board’s responsibility to the community it serves.
Sources: Friends of Windermere analysis of WOWSC board communications friendsofwindermere.com