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Reston Association has begun the process of soliciting bids for the independent review of the Tetra/Lake House property purchase.
Reston Association is seeking RA member volunteers to assist the Board Governance Committee in its selection of a firm to review the budgetary, administrative and governance aspects of RA's purchase, planned use, and renovation of the Lake House property (formerly known as Tetra), including the recent capital cost overruns associated with renovation of the facility.
The Reston Association Board of Directors heard presentations and discussed several matters related to the new Lake House facility at its regular monthly meeting.
Reston Association’s Board of Directors is in the process of reviewing cost-cutting measures that would restore $430,000 to the operating fund. The board approved the transfer of funds at its meeting last month after it was determined that renovations of the Lake House would be over budget.
The Reston Association Board of Directors will review an independent report and consider how to proceed with the next steps toward implementing an RA code of ethics at its June 23 meeting.