On Friday, the club's return to a member-owned structure will be formalised with the Australian Securities and Investments Commission's approval of a vote passed almost unanimously on October 29.
However, in line with regulations and legal requirements, a four-week window from December 23 was provided for any final opposition to the Roos' listing as a public company.
"We were still at risk of having the thing rail-roaded," Arocca said, acknowledging that any member or former shareholder could have sought to stop the process in the courts.
"It was a little known fact, but we are happy to announce to the world that today – as far as ASIC is concerned – we're the new North Melbourne."
North has taken giant steps since chairman James Brayshaw knocked back a re-location to the Gold Coast, posting record membership numbers last year and committing to the construction of a new facility at its Arden Street base.
Partnerships with local communities, most recently indigenous youth, have been further shows of strength.
However, the seamless transition from a convoluted shareholder arrangement – another significant victory for Arocca's administration – didn't earn the profile it deserved.
"It sort of went through without much fanfare," he said. "Even though it was a very important night for us, we noted that there was not that much coverage of it from the media.
"I thought to myself, 'If we had have failed, it would have been back page news'. It again just puts into focus the sort of perspective that people have on the club. We achieved what is a pretty monumental and significant outcome and it doesn't get much of a reference.
"I recall getting a text message from a very well-regarded CEO just after the vote, congratulating us on what happened and really putting into perspective how significant it was. I think he said something along the lines of, 'Many people won't understand how important this has been'."
Arocca also noted that people are still forthright with their opinions on the club's future in Melbourne.
"To this day, I bump into people who whisper across to me, 'Surely you blokes don't feel that you're safe yet'. It just disappoints me," he said.
"That's North Melbourne's lot until we win another premiership. Even when we win a premiership, they'll still be saying, 'Maybe they should have been up on the Gold Coast, they might have won two'.
"Even as we're building our facility, there'll still be people out there who'll say, 'That'll just be a facility for one of the other clubs to move into' when North Melbourne gets shunted off.
"But I tell you, they're going to have to pull us out of our new facility with wild elephants, because for us it represents a tangible and very strong statement of where North Melbourne is."
