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RA Releases

RA News Releases

Tetra/Lake House Report Completed; Meeting Set

  • 1 March 2017
  • Number of views: 2358
Tetra/Lake House Report Completed; Meeting Set

The Reston Association Board of Directors received the final report Tuesday, Feb. 28, 2017 concerning RA’s handling of the Tetra/Lake House purchase and renovations.

As stated in the request for proposal, the independent report, performed by the StoneTurn Group, LLC, focuses on “identifying areas for process improvement, potential changes to internal controls and/or modification to governance procedures to help ensure situations like the Lake House cost overrun can be avoided in the future.”

Click here to download the report. To download exhibits and supporting attachments, click here.

The Reston Association Board of Directors will review the report and hear comments on the suggested improvements at a special RA board meeting March 14 at 6:30 p.m. at RA headquarters. The meeting is open to the public. (UPDATE: The March 14 meeting was rescheduled to March 20 due to inclement weather.)

RA members voted in a referendum in the spring of 2015 to allow the association to purchase the Tetra property for $2.6 million. The association closed on the property July 23, 2015, and renovations were made over several months.

The renovated Lake House, located at 11450 Baron Cameron Ave., opened its doors to members in the second half of 2016. The facility is being used for after-school programs, classes and is leased for special events by individuals and businesses.

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