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Bridges Annual Budget Meeting Minutes
December 1st, 2020
Meeting called to order approx. 715 pm
Attendance and verification of quorum:
Board Members and Officers attending:
Michael and Eydie Leighty
Chase Van Cleave
Other Owners attending:
Giovanna San Martin
Iain and Averal Ferguson
Number of Proxies: TBD (get from Stacy)
- Review of J&M Financials Packages/Invoice Billings and Status of Accounts - Operating/Reserves
Action to Stacy: Request for actuals to planned budget to understand and compare.
Conversation regarding lien fees – process behind the charges/fees.
Question regarding HOA fees not collected – how do we manage that. HOA board has discussed and, in the future, there will be more effort and accountability to pay.
Parking Maps – Lennar agreed to pay for them. $348.50 is the corrected total – Action to Stacy: will this be refunded?
Creation fee for governing docs? The parcel numbers had to be researched to collaborate new content. Merging Lennar docs into what was originally filed.
How often to re-bark landscaping? 2-3 years should be redone but ultimately up to board going forward.
123rd storm drains were completed by the city of Kent – public street. We have a map now of areas that we own vs. city of Kent.
Don has confirmed that there are a couple of storm drains that still have construction fabric on street across from dog park (121st Ave?) Action to Stacy
Concern regarding some loose screws and splintered wood in main park – safety hazard that needs to be addressed – action to Stacy
Consider getting rid of BBQ out by 118th. Gazebo needs to be repaired/cleaned up. This will be covered in follow up Board meeting.
Fixed expenses vs. other expenses – request to see previous years to compare to this year’s – action: Stacy can send via email and post on site
Budget summary: we are running at a deficit which is what is causing the increase to HOA dues.
Drawdown on reserve is not shown on balance sheet – question of whether or not P&L statement is accurate. Action to Stacy to double check with accounting
What would income be if everyone paid their dues? 379 homes ($454K in total) plus additional transfer of ownership fees for selling homes ($500). Maintenance reserve – new owner paying $500 upon move into neighborhood
If homes are foreclosed and go to auction – do we still get to collect the $500 when re-sold? Potentially banks are NOT responsible for – should be clarified with legal (action: Stacy).
If more liens begin to happen, will legal fees increase also? Stacy answer: depends on the situation.
HOA payment coupons – how do new residents get them? Supposed to get sent out with a welcome letter. Need closing documents in order to send them out.
Vote to ratify budget - 51% would have to vote ‘no’ in order to not have vote pass. 180 homes in this neighborhood would need to vote no in this circumstance.
Budget ratified – total of 23 counted. (need to verify this count with Stacy as there were also proxies)
2. Security discussion (Eydie)
A multitude of different things happening – two-pronged approach.
1. License plate readers (Chase can provide more info at a future meeting). Each entrance (4) will read license plate of all cars coming in or going out. Particularly useful if stolen cars are dropped off in neighborhood (ongoing issues). Hopefully a big deterrent to people/kids who should not be in the neighborhood. ($8K/year)
2. Security patrol without weapons – try service – random nights/week. Just their presence in an unmarked car should deter inappropriate activities.
Next steps security: there will be a survey out (Facebook) to ask for owners opinions on days/times.
Meeting adjourned 930 pm, board meeting scheduled to follow has been postponed due to time limitations
Minutes taken and submitted by Laurie Powers, Secretary