Governance and Budget
The Flying Acres Homeowners Association (FAHA)
and New Crest Airpark LLC governance documents are found here.​​​
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The Current Budget is found following the governance documents.
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FAHA Governance Documents
Articles of Incorporation were filed with the State of Washington in 1995 to create FAHA. Please note FAHA was originally incorporated as Crest A.E.R.O., Inc.
You can get a copy of the agreement here: Flying Acres Homeowners Association Agreement
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This is the official version of the Association Agreement, dated October 4, 2024, that Flying Acres members began signing on October 4, 2024. This is also the start date for the signing period that ends on November 15, 2024. The Agreement will be recorded with King County at the end of the signing period.
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FHA Property Owners wanting to sign after that date will need to follow the Late Association Opt-In process defined in section 6.1 of the Association Agreement.​​ The key points in the section are:
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Requires majority vote of the Members in favor of admitting Owner into the Association
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Owner becomes subject to the terms of the Association Agreement upon admission
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Owner pays Initiation Fee determined during the budget (Currently $55,000)
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Owner pays all expenses incurred with admission to the Association
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Revised bylaws were approved by the membership on October 2, 2022. The new bylaws were created in anticipation of airport purchase per the 2010 Settlement and to align them with current Washington State law. Some provisions will not be implemented until after FAHA successfully purchases the airport.
New Crest Airpark
The Operating Agreement defines the membership in and operation of the New Crest Airpark, LLC. The only member is the Flying Acres Homeowners Association (FAHA). The FAHA Board or a subset of the Board is the manager of the LLC. The operating agreement is simpler and much more straightforward than the above Association Agreement. An LLC operating agreement is similar to bylaws for a corporation.
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Current Year Budget and Assessment
​The 2024 Budget and Assessment was approved by the board on February 15, 2024 and ratified by the membership on February 19, 2024.​
Past Governance Documents
These bylaws were updated on Feb 13, 2011 after the 2010 settlement.​
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Crest A.E.R.O. Agency Appointment
This is the document that granted Crest A.E.R.O., predecessor to FAHA, authority through 2025 to act as lawful agent and attorney-in-fact to extend the Neslund easement through 2025. The Agency Appointment was the instrument that granted FAHA management to pursue the two legal complaints and collect dues to pay for legal fees to meet this obligation. The Agency Appointment has been supplanted by the Association Agreement.