LPW HOA Annual Meeting Agenda Intent Call to Order - - PowerPoint PPT Presentation

LPW HOA Annual Meeting Annandale Elementary NOV 20th, 2017 7:30 PM

Agenda

• Call to Order
• Certification of Quorum
• Prior Annual Meeting Minutes
• Presidents Report
• 2017 Year to Date
• 2018 Goals
• Financial Report
• 2016
• 2017
• Other Business
• Adjournment

Intent

• Information Updates
• Community Feedback

Introduction of Board, Visitors and Attendees….

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www.lafayetteparkwest.com Email: info@lafayetteparkwest.com

q Call to Order q Certification of Quorum q Prior Meeting Minutes (2016)

AG AGENDA ITEMS 1-3

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q AG AGENDA ITEM 4: Presidents - Bo Boards s Report

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Complete DCCR and Policy Review ü Cost Benefit Analysis of APC Acquisition ü Repave, mark and Stripe Adams Park Court ü Recruit the 2017 – 18 Board 2017 Way Ahead

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q Safety Considerations APC/CPC Intersection q Determination of Actual LPW Property Line on Adams Park Court q Repave, mark and stripe Chase Park q Selected Tree Removal to Preserve Infrastructure 2018 Way Ahead

q AGENDA ITEM 5: Dues Increase for Calendar Year 2018

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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 1) Aging Infrastructure is impacting critical utilities:

• $ 7000 to stop tree based water leak 7476 APC
• $46000 bill to Repave, Stripe and Mark CPC
• $ 2600 annual pest control bill

2) Removal of Trees pushing up sidewalks at 7401 and 7430 APC

• Reclamation of 7476 APC corner
• Trees and Land at 7466/7470 APC (after tree removal)
• Reclamation of 7401/7430 APC

3) Removal of ¼ Timber Wall CPC, removal of stumps, reclamation 4) Sidewalk repair based tree root impacts not yet factored…. Justification: $7800 Significant Board Concern that LPW will not fiscally survive major infrastructure challenges without dues increases… All extra funds (if they exist) are funneled to the Reserve

q AGENDA ITEM 5: Dues Increase for Calendar Year 2018

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Trends Current Monthly Monthly Variance 12 Month Period YTD Budget YTD Variance Annual Budget 5511 7597

• 2085

97115 91164 5951 91164 DEC 2016 *10 Month Snap-shot 2017 Glide path Current Monthly Monthly Variance 10 Month Period YTD Budget YTD Variance Annual Budget 8433 8258 175 83093 82583 510 99100 EOM OCT 2017 OPERATING FUNDS **RESERVE FUNDS TOTAL ON HAND 28125 78694 106820 *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…. $7936 Dues Increase

q AGENDA ITEM 5: Side By Side Comparison 2017/2018

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See Handouts

AG AGENDA ITEMS 6-7

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q Other Business q Open Forum – 3 minutes per person q Adjournment