On June 7, 2018, Taylor Morrison Home Corporation (“Taylor Morrison”) announced that it and AV Homes, Inc. (“AV Homes”) have entered into a merger agreement whereby Taylor Morrison has agreed to acquire AV Homes.  According to public statements made by the parties, the acquisition is currently planned to occur during the late third quarter or early fourth quarter of 2018.  At the current time, the Districts expect to continue to move forward with the amenity transaction in the ordinary course.

Neither Taylor Morrison nor AV Homes has provided the Districts with any information as to what impact, if any, the acquisition is expected to have on the amenity transaction following the closing of their acquisition transaction.