Dear Residents:

Mattamy Update Overview

Mattamy Homes and the Ridgewater Homeowners Association (HOA) are in the final stages of negotiating three important agreements:

General Release Claim Agreement: This agreement will release Mattamy Homes from all future liability and responsibility related to the Ridgewater development. It’s important to note that this release does not affect home warranties, which will still be honored.

O&M Agreement with the City of Charlotte: This agreement will facilitate the acceptance of ownership of the ponds by the city, marking the final step in the transition of control from the developer to the homeowners. Once finalized, homeowners will have complete control over the ponds.

Financial Settlement Agreement: This agreement will reimburse Ridgewater for expenses incurred while maintaining the ponds during Mattamy’s control, as well as for replacing dead sod and dead trees due to a defective and incomplete irrigation system.

These agreements represent significant progress towards ensuring that the Ridgewater community is fully managed and maintained by its residents and the city, rather than the developer.