Kings Park West Community Association
August 8, 2007 Meeting
††††††††††† In attendance: Linda Fournier, Joe Meyer, Jim Messinger, Mary Hovland, Virginia Scattergood
††††††††††† Absent: Larry Velte, Dina Gorrell
Meeting called to order at 7:38pm.
Approval of July Meeting Minutes: The July 11th minutes were distributed and reviewed. Mary motioned to approve; Linda seconded. Approved 5-0
Treasurerís Report: Jim informed the board that the current balance is $41,023.82. The reserves total $6,335.59, with a grand total of $47,359.41.
Update on options with banking: how to make more money with what we have.† A 7- month CD at 5% could be generated for the reserve account, generating more interest than what it is gaining currently.† Even with an early withdrawl, it would result in more fees than the 1% currently gained.† Looking at the tax issues with Goldklang, there are about $1,500 in interest could be gained before being taxed. Since the Association is not a non-profit, there is no risk of losing ďnon-profitĒ status. Goldklang gave its ok for moving forward with the CD.
Jim recommended that the Association move the reserve account to a CD.† A discussion on changing the regular account will be had at the next meeting.
Jim motioned to take the reserve account to a 7-month CD.† Mary motioned to accept the proposal; Joe seconded; Approved 5-0.
New Assessment Response: As of July 31st, approximately $15,000 in fees have been received out of $23,000 (75% return rate). This is a higher return rate than last year at this time.
Despite the positive returns, some people are still not responding. A discussion was had as to whether it is appropriate to contact residents to follow up on their payment, believing that there may not be an understanding of the consequences of non-payment.
After discussion it was agreed that the Association will attempt to contact everyone once this yearís assessments are overdue by 3 or 4 months a courtesy.
Lien Status: Jim reports that the liens have all been filed in compliance with the change in notary laws.
There are two lien release letters to be sent to homeowners. †
††††††††††† Letter declining request to build a bridge on common land: Based on discussions with the insurance company the Association was advised that there wouldnít be a problem until there was a claim (For injury resulting from the bridge), at which point the insurance company would not renew the Associationís policy.† In addition, by locking the bridge itís not usable to everyone, and it has to be usable by all membership.† A letter has been written, signed by Joe, and sent to the requester.
††††††††††† Letter to member about cutting trees:† A letter was signed and sent by Joe informing the homeowner that he can not cut the trees down. No response has been received.
††††††††††† Letter to Robinson for next year meeting space:† A letter has been sent requesting the space. No response has been received.
††††††††††† RCS Contract Renewal:† Joe has executed the RCS renewal contract. Mary spoke with Rod regarding the resale packet addendum issue.† Once a request is sent to Rod, he responds and sends an invoice that says pay within 30 days or at the settlement (whichever is sooner).
Joe also spoke with Rod, who agreed that in addition to the invoice being sent, he will put the amount due on the cover sheet with the packet; if itís been paid then it will negate the additional cover sheet amount.† The buyer would then be aware of an amount owed for the packet.
If the fee is not immediately paid, then it would become part of the final closing packet, paid at settlement. The check from settlement may go to Rod.
Rod will bill the Association for what he produces, and then the Association will know based on whatís collected whatís been paid or not.† Itís up to the Association to obtain payment if it hasnít been paid.
The other option is for the Association to produce the packets in house.
It was noted that this was still an assessment against the homeowner (so similar to the yearly assessment). The biggest change with the new policy is that Rod can not hold up the packet if he doesnít have payment; he has to release it regardless of payment status.† A problem for the Association is collection, and how to assess a lien for the money due when the homeowner no longer owns the property.
Jim will initiate a separate accounting and will report on the status at the next meeting.
††††††††††† Goldklang Renewal/Audit: Joe has executed the renewal contract. Jim is pending a final copy of the audit. The draft form had been approved and accepted; Jim will follow up on obtaining the final copy.
††††††††††† State Corp Commission/DPOR Membership: This has been paid including a late fee (it was a few days late).
Resale Packet Addendums: †Joe sent around proposed language for the addendum if there are unapproved modifications. †This would be included in a resale packet.
After review and discussion, a few minor edits were made. Joe will make the corrections and send to Rod for use.
Request to build an Announcement Board at Tapestry and Braddock: This has been officially requested as an Eagle Scout project, and the Board re-affirmed its consent to allow the building of the board at Tapestry and Braddock (on common property). It will look exactly like the one near Robinson.
The civic association will pay for the materials, and the labor will be free. Joe will remind them to call Miss Utility/Dig and to follow all applicable laws with its final location. †
Tapestry resident parking issue: Joe sent around copies of recent communications but the Association has not responded.† The Association will offer to assist in any way it can.
Web Site Updates/Corrections: Joe has some additional corrections for the Web Site and will send those to Greg along with last monthís meeting minutes.
Communications from Members:
The Collingham tree that was hanging over the road has been taken down.
The commercial truck mentioned at the last meeting is still on the street; itís a resident issue should they wish to take action.
Mary motioned to adjourn; Jim seconded. Approved 5-0. 8:45pm.