Town Hall Meeting Tucker Library Saturday, August 13th

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Town Hall MeetingTucker LibrarySaturday, August
13th
Idlewood Condo Association
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Meeting Agenda

• Review of Responsibilities
• - Individual Homeowners - Idlewood
  Association
• - Idlewood Board - Heritage
• Accomplishments and Goals for 2005
• Financial Statement Review and Impact on Our
  Goals Accomplishments
• Voting Issues
• Roofs Only
• Roofs Capital Improvements

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Responsibilities
Idlewood Condo Assoc 65 Individual
Homeowners
Idlewood Board 5 Homeowners Managing the Assoc

Heritage

• Homeowner Association Consists of the 65
  Individual Homeowners
• 5 Homeowners Are on the Board of Directors
  Working For the Interest of the Association
• Heritage Property Mgmt Company Helps the
  Association Manage the Community

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Responsibilities of Homeowners

• Pay Association Dues in a Timely Manner
• Notifying the Board and/or Heritage of Necessary
  Repairs or Service
• Follow Established Rules and Regulations
  Including Requests for Temporary Exceptions or
  Rule Modification

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Homeowner Repair Responsibilities

• Unit Interior
• Pipes Supply the Unit Inside
• Repair Options
• Owner May Complete Repair If They Have the Skills
  and Ability
• Utilize a Reputable Contractor of Their Choice
• Ask Heritage to Coordinate for the Service the
  Individual Homeowner Will Fund

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Responsibilities of the Board

• Meet the Financial Obligations of the
  Association
• Identifying If Requests for Repair or Service Are
  the Financial Responsibility of the Homeowner or
  Association
• Ensure Repairs/Improvements Are in the Best
  Interest of All Homeowners
• Meet With Homeowners About Community Issues

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Association

• Goals
• Protect and Promote Homeowner Investment
• Enhance Enjoyment of the Community
• Responsibilities
• Developing and Enforcing Policies and Rules
• Maintaining and Improving Common Areas
• Creating a Sense of Community

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Association Repair Responsibilities

• Mandated By, and Described In, By-Laws
• Most Services or Repairs to Common Areas
• Funded by Our Association Dues and Assessments
• Many Services or Repairs to Limited Common
  Areas
• Funded by the Homeowner

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Responsibilities of Heritage

• Basic Bookkeeping and Paying Bills
• Coordinate Bids for Service and Repairs
• Coordinating Requests for Service From Homeowners
  With the Board

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Repair Service Concerns

• For a Homeowner Funded Service, By a Homeowner
  Identified Vendor
• Work with the Vendor
• For a Homeowner Funded Service, by the
  Association or Heritage Identified Vendor
• Work with the Vendor
• Notify Board and Heritage of Problem and
  Resolution
• We Dont Want to Use/Recommend a Vendor
  Providing Poor Service

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AccomplishmentsPrevious Board

• Established a Working Board
• Hired a Management Company (Heritage)
• Successfully Implemented Processes to Collect
  Back Dues
• Installed Central Water Pressure Valve
• Began the Roof Replacement Project
• Sponsored Volunteer Clean-up days and
  Beautification Projects

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AccomplishmentsCurrent Board

• Established Idlewood Website and Newsgroup
• Removed Approx 15 Cubic Yards of Downed
  Drooping Vegetation
• 1st Annual Party on the Patio
• Began Pressure Washing of Building Exteriors
• Published Centralized Policies and Procedures
• Reviewing/Evaluating All Contracts Ensuring
  Were Getting the Best Level of Service Possible
• New Landscaping Contract Began This Aug

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Goals for the Remainder of 2005

• New Roofs!
• Identify and Implement Affordable Value Added
  Renovations
• Continue to Improve Communication of Association
  Policies and Renovation Project Progress
• Identify and Prepare Association Members to
  Take-On Board Positions

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Plan of Attack
Approx 100 Association Members
65 Condo Units
5 Board Members

• SUBCOMMITTEES!

Idlewoods Needs Far Out Way Just the Boards
Capacity
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Subcommittee Opportunities

• Nomination Committee - Identify Potential Board
  Candidates
• Architectural and Beautification Committee
• Prioritize Renovation Projects
• Value Added
• Evaluate Cost to Complete
• Communication
• Share Information About Renovation Projects
  Items of Community Interest
• Neighborhood Watch
• Safety
• Contractor Feedback

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Financial Picture

• The Difference Between a Dream and a Plan is
  the Bank Account Statement!
• The Associations Financial Situation is
  Improving
• Most Decisions Have Required - Is There a
  Cheaper Way to Do That?
• Moving Towards Decisions Based - Which Options
  Provides the Most Value

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2005 Financial Performance Overview
9K YTD Net Income Primarily Driven by Back Dues
Collections
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Financial Statement Review

• YTD Net Income of 8,803 Driven Primarily by
  Collection of Delinquent Fees
• 12.31 Decrease in of Delinquent Units
• Aggressive Vendor Evaluation Replacement

Noncontributing Homeowners Are Taxing the
Association
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Financial Statement Review

• Decrease in Delinquencies Driven By
• Increased Communication with Homeowners
• Expedited and Aggressive In House Collections
• Improvement in Communication Responsibilities
  Guidelines

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Association Dues

• Association Monthly Payment
• Dues 165 Two Bedroom OR Three Bedroom Dues
• Plus Vinyl Siding Assessment 40 Per
• Total 205 to 215 Per Unit/Per Month

• Building Maintenance
• Pressure Washing
• Gutter Cleaning/Repair
• Roof Repair
• Community Maintenance
• Asphalt Repair
• Fence Repair
• Tree Removal

• Pool Service
• Phone,
• Electrical
• Pool Care
• Landscaping

• Insurance
• Trash Removal
• Dumpsters, Large Items
• Water and Sewer
• Community Lighting
• Management Service
• Bookkeeping / Bill Paying
• Contractor Scheduling
• Community Notifications

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How Your Association Fees Are Invested
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How Your Association Fees Are Invested
Insurance, Water Sewer, Maintenance, Repairs
and Renovations Are Our Biggest Investments
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New Roofs and Renovations

• Most Buildings Need New Roofs
• Age of the Roof and Leaks
• New Roofs Will Improve the Value of the Unit,
  Building, and Community
• Roofing Project is Expected to be Completed
  During the Fall of 2005
• Roofing Project will be Paid for by an Assessment
  to Start After the Siding Assessment Ends

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Assessment to Cover

• Only Roofs
• 50/month for 5 Years
• Approx 3,000 per Unit for New Roof
• Roofs Plus Renovation Budget
• 55/mo for 5 years
• Will Provide Funds to a Special Account to Only
  be Used for Renovation Projects Identified by the
  Architectural and Beautification Subcommittee

or
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Concurrent Renovations Options

• Gutter Cleaning, Including Downspouts
• Gutter Guard Additions
• Replace Railroad Ties Along Landscaping
• Upgrade Pool Deck
• Refurbish Pool House
• Upgrade Back Fence
• Upgrade Front Fence
• Others?

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Voting

• Association Members as a Group Will Choose
  Between the Roof Only and Roof Plus Renovations
  Assessment Options
• Homeowners as Individuals Will Select Their
  Payment Option
• Homeowners Are Assumed to Choose the Monthly
  Payment Option Unless They Contact the Board and
  Request to Make a Lump-Sum Payment

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Campaign/Discussion

• Roofs Plus Renovation
• Allows Us to Jump Start a Renovation Program -
  Increase Value of Community Faster
• Roofs Only
• Smaller assessment