Olympic Terrace 2 Overview Edit page

Overview of Our Community

Port Ludlow (a village in the woods by the bay) consists of two geographically separate halves and two master associations, North Beach, and South Bay. Within each of these, there are many communities or Villages.   Our Olympic Terrace 2 village resides in South Bay and was created in 2 development phases (Phase 1 and Phase 2). Phase 1 consists of 41 home sites, and there are 37 home sites in Olympic Terrace 2 phase 2.  The information in this document will provide links to documents and summarize important information regarding what you might need to know in purchasing and owning a home in our beautiful community.  This folder is organized by the homeowners' association.  

Homeowners Associations

There are 3 homeowners associations and one Port Ludlow umbrella council that come into play for our community.  

South Bay Homeowners Association

The Parent Homeowners association for our community (Lots 1 - 78) is the South Bay Homeowners Association (SBCA).  SBCA maintains the Bay Club (swimming pool, wood working, numerous activities and events, meeting space, etc.) and is available to all OT2 homeowners.  In addition, the SBCA owns the trail system within the South Bay area.  

Charter, Master Declaration, and Bylaws

The Master Declaration defines the master bylaws that govern what we can and can't do in regard to our homes, lots and open space within the OT2 village.   Within the SBCA is the Architecture Committee (ARC).  This committee within the SBCA defines and approves all home and landscape improvements within our OT2 community.  

The SBCA master declaration which defines a great majority of all that we must do and can't do in our community is: https://sbca.io/docs/govdocs/SBCA-20_1989-08-01_Master-Declaration-CCRs.pdf.

The SBCA Bylaws which govern the association is: https://sbca.io/docs/govdocs/SBCA-30_2021-11-10_Bylaws.pdf

The SBCA rules which describe the rules for the Bay Club: https://sbca.io/docs/govdocs/SBCA-60_2024-10-11_South-Bay-Rules.pdf

The charter for the ARC committee that reviews and approves/disapproves all home and landscape changes we request is: https://sbca.io/docs/2022/SBCA_2022-02-10_ARC-Chrtr.pdf

SBCA Financial Information

SBCA dues are $1300/yr paid quarterly and prorated.  These dues are primarily for Bay Club activities, maintenance and upkeep of the Bay Club, payroll and insurance.  

A link to the 2025 year-end cash balance financial statement is: https://sbca.io/docs/financials/SBCA_2024-2025_FY_BAL.pdf

The  2025 year-end income and expense report is: https://sbca.io/docs/financials/SBCA_2024-2025_FY_PL.pdf

Olympic Terrace 2 Homeowners Association

The Olympic Terrace 2 Homeowners Association is the parent HOA for ALL members of OT2 (Lots 1 - 78).  OT2 funds maintenance of our three storm water detention ponds and funds the Limited Common Area Landscaping along with other activities.  

Bylaws

OT2 has a Supplemental Declaration and three amendments to that declaration that speak to the specifics of the OT HOA and aligns to the SBCA master declaration.  These are listed below:

OT2 original Supplemental Declaration from 2007 drives the requirements of our homeowners' association: https://olympicterrace2.communitysite.com/file/document/3454188232/N8zGaB8fbhLn7FqI.pdf

OT2 HOA's First Supplemental Declaration updated the language to 2017 standards: https://olympicterrace2.communitysite.com/file/document/3454188232/9lQjypxH8led7jlg.pdf

Second supplemental Declaration which allows for a 36-inch-high split rail fencing if ARC approval: https://olympicterrace2.communitysite.com/file/document/3454188232/QL7j58FUx1ystJOi.pdf

Third supplemental Declaration which allows for a hedge to be planted if ARC approval:  https://olympicterrace2.communitysite.com/file/document/3454188232/dEMrW1AxFDkNJMs2.pdf

OT2 Financial Information

OT2 dues are $250/yr.  This is used primarily for Detention Pond and Landscaping for our community.  

A link to the July 7 2025 HOA Board meeting which includes the 2025 year end financial report is: https://olympicterrace2.communitysite.com/file/document/1301024458/zVEsAQRLa9SRlh6C.pdf 

Olympic Terrace Division 2 Phase 2 Storm Water Tract Maintenance Association

The Olympic Terrace Division 2 Phase 2 Storm Water Tract Maintenance Association was formed to maintain the Rain Garden pond (also referred to as Tract F) in the new Mt. Wilder extension.  This association consists of lots 42-78 and is only chartered for the ownership and maintenance of the rain garden.   

The homeowner's association is currently owned by Richmond American Homes but has a defined set of bylaws: https://olympicterrace2.communitysite.com/file/document/265193516/9loWLRJRG3c00Nza.pdf

Port Ludlow Village Council

Port Ludlow Village Council (PLVC) is an independent 501C organization that focuses on Port Ludlow wide issues (North Beach and South Bay).   PLVC leads our emergency and wildfire preparedness, Government and Business Relations, Utilities, and along with South Bay owns our trail system.  They are separately funded, but we currently have a budget line item in our SBCA budget that goes to help funding the PLVC.  

A link to the PLVC webpage is https://www.portludlowvillagecouncil.org/

A link to their bylaws is: https://drive.google.com/file/d/11lDCOy2J1HNTJ_0MjkHwxhQaHSJurTsg/view?usp=drive_link