Warranty Deed Restrictions Meeting April 24, 2014 Annehurst Elementary Annehurst Village Residents Association www.annehurst.com *
Agenda •Welcome & Introductions •Why are We Here •What does the AVRA do? •Revised Deed Restrictions •Reserve Study – Episodes I & II •2014/15 Budget •What’s Next •Wrap Up & Questions •Closing Comments Annehurst Village Residents Association www.annehurst.com *
Introductions •Jeff Inskeep - President •Karen Spiller - Secretary •Renee Hunt - Treasurer •Bill Streetman - Director •Wesley Gerbick – Vice President Annehurst Village Residents Association www.annehurst.com *
Welcome • Thank You! Families of the Board Annehurst Village Residents Association www.annehurst.com *
Welcome • Thank You! Warranty Deeds Review Committee Annehurst Village Residents Association www.annehurst.com *
Welcome • Thank You! Andrew & Annie Streetman (our volunteer IT support) Annehurst Village Residents Association www.annehurst.com *
Welcome • Thank You! To The Residents Annehurst Village Residents Association www.annehurst.com *
Welcome • Special Guest Art Wickerham, P.E. Criterium Liszkay Engineers Annehurst Village Residents Association www.annehurst.com *
Welcome Other Business • Clean Up Annehurst – May 10 • Nominations for the Board – currently open and will close May 10. • Annual Meeting – June 12 Annehurst Village Residents Association www.annehurst.com *
Questions • We are short on time so please write down your questions. If we don’t get to them we will collect them and publish the answers. • If we do have time for questions please raise your hand. If you are called on please stand and say your name and where you live. Annehurst Village Residents Association www.annehurst.com *
Fun Facts & Exercise • How long do residents stay in Annehurst? Annehurst Village Residents Association www.annehurst.com *
Fun Facts Younglings (0-5 years): 14% Annehurst Village Residents Association www.annehurst.com *
Fun Facts Padawans (6-15 years): 39% Annehurst Village Residents Association www.annehurst.com *
Fun Facts Jedi Knights (16-25 years): 22% Annehurst Village Residents Association www.annehurst.com *
Fun Facts Jedi Master (26+ years): 25% Annehurst Village Residents Association www.annehurst.com *
Why Are We Here? Jeff Inskeep Annehurst Village Residents Association www.annehurst.com *
Why Are We Here? Annehurst Village Residents Association www.annehurst.com *
Why are we here tonight? (by Jeff Inskeep) The AVRA has one common property, the pool. By Ohio law your membership in the AVRA makes you responsible for any common property. It is just like if you lived in a condominium complex, whether or not you use the pool the owners are responsible. I really hate that statement. You may hear it again later in the program. Please don’t take offense by it. It is the truth but unfortunately puts everyone on the defensive. No one including myself li kes to be told I have to do something. Bill is going to go into detail tonight about what the AVRA does. Before we get to part of the program, I need to give you a little history that will shed some light on the path that the AVRA has taken. I n the beginning the Nationwide Development Co. only did a fair job of setting up the neighborhood association. They made the association a corporation and included warranty deeds with each property. They also had in place a one-time $50 Association Membership fee. Keep in mind back then Residents were working for a large corporation and that many were her for a short time and then transferred. That meant that there were a lot more home sales every year than there are today. They figured that based on the number of home sales that their funding plan would be sufficient for the future. If they had built-in an inflation clause it would have been better. That $50 today would be equivalent to $477.36 per home sale There has been two historical attempts in the past to fix the financial problems. The 1999-2000 AVRA board did organize and implement a revision to the Warranty Deeds. They went door to door and collected positive signatures from a majority of the residents to change the $50 one-time association fee to the current fee $200. This was filed with the Franklin County Recorder August 8 th 2000. This increased the annual budget buy approximately $3,000.00 per year. It may have helped short term but by the year 2006 the association was again in financial trouble. In 2006 the board issued a special $75.00 assessment. That money was used for needed repairs and maintenance of the pool. To make the money go as far as it could, the board relied on volunteers to do some of the work. They did things like prepare
Why Are We Here? Annehurst Village Residents Association www.annehurst.com *
the pool sides for the pool plaster that would never need painting. The pool paint had been costing the association $200 per gallon. Many other cost saving ideas were put in place. The pool members have also been willing to accept responsibility for the operational budget of the pool through the cost of annual memberships. But part of their membership fees and Fundraisers have actually been used for funding the common property repairs. The reality is, this is not sustainable, and needed maintenance and repairs are not being addressed because the costs are prohibitive. Further, in 2010, the State of Ohio put rules in place for homeowner associations. One rule requires a reserve fund to cover ongoing maintenance and repairs of common property This was done in so that members were not presented with special assessments when something needed repairs. We ask that you to please keep an open mind during tonight’s presentations. Wes will be going into more detail about what this means to you. You may have noticed a name change in the "Deed Restrictions". We do not actually have a document entitled “deed restrictions.” The correct terminology you will hear tonight is the Amendment of the Warranty Deeds. All 908 properties in the Annehurst Village Corporate area have Warranty Deeds recorded and every warranty deed has deed restrictions included and other language governing the operation of our association. One aspect of being compliant with the state law is to have the AVRA operational records available for residents to review. I have been putting together what I call a library. I have assembled the meeting notes, financials and other historical records from 2005 - 2013 into a series of binders. (Point to Library) I will soon be adding the 2014 information the binders. This information is currently being maintained with our agent Andy Wadkins of Wadkins and Associates. They are located at 6834 Flags Center Drive, Columbus OH 43229. Just up at the corner of Schrock Road and Cleveland Avenue. You can call Andy at 614-794-3211 to set up an appointment to view this information. A board member will also need to be present for the review in the library just to insure its integrity. It is important that the original documents be kept in order and complete. In case you want to review the materials, I have made two sets that can be checked out just as a book at the library. That way you can review the information in your own home and you don't have to have the expense of making copies. The two copies are
Why Are We Here? Annehurst Village Residents Association www.annehurst.com *
currently checked out by residents. Eventually this information will be available on the website and you will be sent your own personal password to access it. I have brought the original contents of the Library with me tonight so you can get an idea of what I am talking about. Many of you were probably at the meeting in August 2013. At that meeting, we heard many thoughts as to what the next step should be. It was decided that the best course of action was to form a Deed Restriction Committee to help us better understand what is best for our neighborhood. This was made up of 7 residents and they met numerous times to draft a set of recommendations. The AVRA used has incorporated all of these recommendations, as well as advice from our attorney (whose specialty is homeowners associations) and input from the engineering study to come up with the current Warranty Deed Revisions. I would like to recognize the committee tonight. Dave Kuch Peggy Skiba Ron Walker Garry Doone Rand Paselk John Parmuha Oren Shai was the committee chair. He cannot be here tonight (he had shoulder surgery yesterday) but if he was here he could have told you about how much “FUN” they had debating the draft s of the revisions. Tonight you will hear from engineer who assessed our property’s maintenance and repair needs for the next 20 y ears, which is the foundation of the proposed annual assessment. We will discuss what that entails, present a draft budget for the upcoming fiscal year, and describe what members can expect next, and how the process to update the Warranty Deeds will work. But first, Bill Streetman will explain the proposed changes to the Warranty Deeds.
Why Are We Here? Annehurst Village Residents Association www.annehurst.com *
What Does the AVRA Do? Bill Streetman Annehurst Village Residents Association www.annehurst.com *
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