We are 750+ Lakeside at Tessera homeowners and Lago Vista taxpayers who for over 10 years were led to believe that the "Resort Style Amenities" marketed by the Developer and Home Builders were exclusive Tessera HOA assets. What was not disclosed was that they were built with Tessera homeowner reimbursed PID bond money, are owned by the City of Lago Vista, open to the General Public, and the HOA pays all costs to operate, maintain, staff and insure these "Public Park Facilities"
It started in 2012 when the City of Lago Vista and the developer (Hines) reached an agreement. The City would authorize PID Bonds that the developer would use to build streets, drainage, water and sewer infrastructure, and public park facilities - to include a pool, pavilion, restrooms, showers, hiking trails, and more.
Ultimately, the homeowners are paying back those bonds via annual lot assessments - some as high as $7K a year. That's in addition to property taxes, insurance, HOA dues, and mortgage. Homebuyers sign a "PID Disclosure" at closing that states the amount of the assessment and only that the bonds were used for "Authorized Improvements".
In 2017 the developer quietly executed an "Operation and Maintenance Agreement" with the City of Lago Vista that made Tessera Homeowners responsible for all costs to operate, maintain, staff, and insure these city owned amenities - which in 2024 amounted to almost $250k. The Hines director involved in drafting this agreement was also President of the Developer-controlled HOA. No mention of this agreement was ever made at any annual HOA Membership meeting.
In 2022 the developer conveyed ownership of the "Public Parks" and "Public Park Facilities" to the City of Lago Vista. Again, the Hines director involved in these proceedings was also the President of the Developer-controlled HOA. No mention of this transfer of ownership was made at any annual HOA Membership meeting or during any of the monthly Lakeside Advisory Committee meetings with homeowner representatives.
Over a decade of marketing and sales materials, websites, MLS Listings, physical signage, etc. fail to mention that the amenities are actually public parks and facilities owned by the City of Lago Vista. Instead, the amenities were presented as conventional HOA assets for the exclusive use of HOA members. Only after being called out in June of 2025 by a Lago Vista City Council member for deceptive advertising during a city council meeting did the Developer remove the word "Exclusive" from their website and replaced it with the words "Resort Caliber":eo
Yet as recently as July of this summer a new home sales consultant stated that the Developer owns the pool: