Annual Meeting - February, 2019

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Yates Mill Estates HOA - Annual Meeting, February 2019

Kim Humphrey - President | Amanda Hart - VP/Secretary | Steven Bush - Treasurer | Paige Ferguson - At Large | Nick Bingell - At Large

GENERAL OVERVIEW

  • HOA Board Member Attendees: Amanda Hart (Secretary), Steven Bush (Treasurer), Paige Ferguson (At-Large), Mary Monticelli (Neighborhood Manager @ Kohn-Ell)

  • We apologize for the wrong date on initial notification for the annual meeting, and for those that could not attend due to that.  A quorum was in attendance, which allowed for vote to proceed on the board for 2019.

PRESIDENTS REPORT (THIS YEAR'S ACCOMPLISHMENTS)

Mary delivered as Kim was unavailable due to death in her family.

Accomplishments for this year:

  • A light is now added by the mailbox to improve visibility for all that walk to pick up mail.  

    • Completed by Duke Energy with only cost to association the expense to get electricity under the roadonds progress:have not been turned over to the HOA yet; Stanley Martin still working to get up to code

  • Ponds

    • Stanley Martin continues to work on resolving.  As of end of January, Stanley Martin is targeting completion in 4-6 weeks (pending weather cooperation)

  • Roads

    • Stanley Martin continues to be on point for activities to turn the roads over to the county.  This should be completed in the first half of the year.

  • Landscaping

    • Major consideration when seeking quotes - balancing cost and ensuring we have proper maintenance in place for the BMPs.  

    • Signed a one-year contract with a company for both common areas and ponds.

    • If you see something you think should be addressed, please raise it to Mary or the Board and we will work with the landscaper on that.

  • Architectural Committee set up

    • Changes to exterior of home or lot, have to submit a form and get approval from the committee (which is an extension of the board)

    • If you're not sure if you need permission, fill out and submit the form.

    • If something is denied, you can ask that the board review it and give their final say

  • Outstanding items carrying into 2019

    • Bylaws will be published in the next 3-5 months

    • HOA board will now have 5 voting members, with three of those being officer positions.

Thank You:

  • To the board from Mary -- board has been looking out for the community as a whole

  • To Amanda who is resigning -- thank you for your time and effort for the neighborhood.

TREASURER'S REPORT (BUDGET)

Due Increase:

For 2019, there is a 50% increase in HOA dues.  The main driver of this is the 3 BMPs that we are responsible for keeping up to code.  To have the proper inspections and ongoing maintenance has proven to be a large expense for our small neighborhood.

The increase in dues for 2019 will approach a balanced budget as we are completing the transition from Stanley Martin to our HOA.  There are two big ticket items still outstanding that must be accounted for and closed on to achieve steady state: BMPs and Roads

We do have a reserve in place, so without unforeseen expenses coming from the BMPs or Roads, HOA dues will be set to cover the annual operating expenses of the neighborhood (landscaping, insurance, etc).  

A full budget is available upon request.

ELECTION

  • Positions

    • President - up for re-election annually

    • VP - 2 year term - up for re-election this year

    • Treasurer - 3 year term - Steven Bush enters year 2

    • 2 at large members - up for re-election annually

  • Election completed and the following join Steven on the board:

    • Kim Humphrey

    • Jamie Schimmel

    • Devon Longo

    • Lindsey Smith