Open Letter to Homeowners:

PURCHASE ESTATES HOMEOWNERS ASSOCIATION

PURCHASE, NEW YORK 10577

Date:   December 6, 2005

Dear Homeowner:

As you know, our Annual Meeting was adjourned from November 1^st to November 22^nd.  We were able to hold the meeting on the 22^nd and one new Director was elected.  Your Board is now as follows:

Steve Harris

Judith Leake

Lori Yarom

Karen Lorence

Jerry Levy

As with the meeting on November 1^st, we did not have enough votes to decide either the amendment for the staggered terms for Directors or the landscaping assessment, which was very disappointing to us.  We volunteer our time to protect the interests of the Purchase Estates community and the value of our properties.  We thank those of you who either attended the meeting or sent in your proxy.  However, as your Board, we are very disappointed with the overall lack of interest as we feel that it prevents us from being able to achieve the goals we all share.    As a result of this, we have decided to reduce the number of Board meetings to quarterly meetings.  Any business that must come before the Board will, therefore, be heard at such quarterly meeting. 

There are two issues that seem to have generated significant interest.  One is the issue of turning the roads over to the Town of Harrison.  Dedication of the roads to the Town would create significant benefits to the HOA.  For example, the Town would then bear the cost of snow removal and maintenance, both short and long term. On the converse, the roads would no longer be private roads.  This means we would no longer have any control over the roads to implement improvements and modifications. The cost savings of dedication of the roads to the Town by the Homeowners is about $700 per year per Homeowner.  The second issue is in connection with the increased tax assessments on our properties.  If there is any interest in having either of these issues addressed, we will need volunteers from the community to speak with Town representatives.

Again, we appreciate those who took the time to attend the meetings or send in proxies.  However, without input from all of the Homeowners, it is impossible for us to do our job.  We ask you to please consider this and make an effort to participate in future meetings.