MEETING MINUTES MARCH 2019


VILLAGE TOWN HOMES HOMEOWNERS ASSOCIATION

BOARD MEETING NOTES

Tuesday, March 12th, 2019

Website: www.villiagetowns.org

**Letter regarding homeowner's inusurance requirements now posted on this website under HOA forms.

Attending: Aaron Lopez, Ron Steed, Shelley Williams, Jim Nebeker & Paul Beard

Absent: Lyle Page & Jordan Lee

BUSINESS:

  1. Review/approval of minutes from the prior meeting. Minutes from previous meeting were approved.

  2. Review of financial statements/cash flows. Financial statements reviewed. Board voted to move reserve cash to different financial institution to accrue higher interest rate.

  3. Accounts receivable discussion: Accounts Receivable were reviewed. Resident that was delinquent over $500 was able to pay and fees and went on autopay.

  4. Conduct a survey to see if the community is interested in putting a 10% cap on rentals with the stipulation to grandfather in existing rental units.

  5. Reserve Study indicated HOA needed to have a reserve of approximately for $600K major expenses (roof, asphalt and decks). HOA currently has $200K in reserve. A suggestion was made to raise HOA fees to help supplement reserves.

  6. Newsletter will be moving to website soon.

  7. Put letter about insurance requirements on website.

Landscaping:

Board reviewed bids from landscaping companies. Decision was made and more information to come.

Painting:

No concerns at this time.

Decks:

No concerns at this time.

Roofs and Siding:

Please see business item #5 above..

Architecture:

Three areas of concrete replacement scheduled for work

Walks and Streets:

None at this time.

Next meeting:

Tuesday, April 9th, 2019 at 6:00pm. Location: Kneaders.

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