LPW HOA Annual Meeting Agenda Intent • Call to Order • Certification of Quorum Annandale Information Updates • Prior Annual Meeting Minutes • Community Feedback • • Presidents Report Elementary 2017 Year to Date • • 2018 Goals Financial Report • 2016 • • 2017 Other Business • NOV 20 th , 2017 Adjournment • 7:30 PM Introduction of Board, Visitors and Attendees…. 1 www.lafayetteparkwest.com Email: info@lafayetteparkwest.com
AG AGENDA ITEMS 1-3 q Call to Order q Certification of Quorum q Prior Meeting Minutes (2016) 2
q AG AGENDA ITEM 4: Presidents - Bo Boards s Report 2017 Way Ahead Complete DCCR ü Repave, mark ü Cost Benefit and Policy ü Recruit the and Stripe Analysis of Review 2017 – 18 Adams Park APC 3 Board Court Acquisition 2018 Way Ahead q Safety q Selected Tree q Determination of q Repave, mark Considerations Actual LPW Removal to and stripe APC/CPC Property Line on Preserve 3 Chase Park Intersection Infrastructure Adams Park Court
q AGENDA ITEM 5: Dues Increase for Calendar Year 2018 Bottom Line: Association will renew the 8.6% Calendar Year 2017 Special Assessment for CY 2018 = $ 100 per year Association will levy additional CY 2018 Special Assessment of $25 per quarter or $100 per year for CY2018 Effective 1 JAN 2018: Dues are $1200 Per Household, per year Justification: 1) Aging Infrastructure is impacting critical utilities: $ 7000 to stop tree based water leak 7476 APC • $46000 bill to Repave, Stripe and Mark CPC • Significant Board Concern that LPW $ 2600 annual pest control bill • will not fiscally survive major infrastructure challenges without dues 2) Removal of Trees pushing up sidewalks at 7401 and 7430 APC increases… Reclamation of 7476 APC corner • • Trees and Land at 7466/7470 APC (after tree removal) All extra funds (if they exist) are Reclamation of 7401/7430 APC • $7800 funneled to the Reserve 3) Removal of ¼ Timber Wall CPC, removal of stumps, reclamation 4) Sidewalk repair based tree root impacts not yet factored…. 4
q AGENDA ITEM 5: Dues Increase for Calendar Year 2018 Trends DEC 2016 Current Monthly Monthly 12 Month YTD YTD Annual Variance Period Budget Variance Budget 5511 7597 -2085 97115 91164 5951 91164 EOM OCT 2017 OPERATING FUNDS **RESERVE FUNDS TOTAL ON HAND $7936 28125 78694 106820 Dues Increase *10 Month Snap-shot 2017 Glide path Current Monthly Monthly 10 Month YTD YTD Annual Variance Period Budget Variance Budget 8433 8258 175 83093 82583 510 99100 *2017 is on track, but does not account for $7800 in deferred maintenance not executed year to date ** $46000 of this will disappear with the repaving of CPC…side walk repairs are next…. 5
q AGENDA ITEM 5: Side By Side Comparison 2017/2018 See Handouts 6
AG AGENDA ITEMS 6-7 q Other Business q Open Forum – 3 minutes per person q Adjournment 7
Recommend
More recommend
