Meeting Minutes – Monday, February 20th

  • Call to Order: Teddy Schell 6:36
  • Role Call
    • Board
      • Teddy Schell (Virtual)
      • Ela Perry
      • Sam Hilson
      • Jon Maginot
    • Committee
      • Frances Cobb
      • Toni Bridges
      • Mark
    • Residents
      • 2
  • Collection and Tally of Votes
    • Received 40 votes, and Board is in favor of accepting that as a quorum
    • One write-in for Ben Shapiro
  • Welcome new Board members
    • Welcomed Jon Maginot
    • Welcomed back Ela Perry
    • Tim Horning was not present
  • Present the Annual Budget
    • See Attached Budget document
    • Compared 2022 actual spending to the budget
      • Budgeted $86,200 but spent $90757.47
    • The 2023 budget requires a special assessment to balance and cover the Lake Loan.
  • Discuss the increase in Fees for the clubhouse
    • From $150 to $200 with a $100 refundable depository
      • The board approved this action
      • Anything currently reserved will use the current fees. 
      • Inform Elite of the new fee structure (Sam)
  • Discuss the status of Lake Renovation
    • Rain has slowed the process
    • Work is continuing
  • Discuss the status of the Special Assessment
    • Should we continue seeking the last votes we need for an assessment to cover lake repairs?
      • 84 of the 127 needed
      • This only deals with the lake problem and not our budget issues.
    • Should we start a new vote to cover the loan expenses for this year?
      • This would require a special assessment of $120 for the next 5 years to cover the Loan and interest.
    • Should we raise rates?
      • Rates could be raised by $150
        • This will pay off the loan in 2 years and save on the interest
        • This will cover the Lake Repair loan and allow the board to begin paying some extra on the $200k loan that we owe.
        • The board selected this as the best option
        • This requires a community Vote
        • We will require residents to vote before activating pool keys
    • Should we shut down services if we can’t afford operation expenses or raise rates?
      • Pool
      • Clubhouse
      • Lawn Services for common areas
  • Resident Time as Needed
    • No Resident Business was required
  • Committee Updates
    • Landscaping
    • Arc
    • Social
    • Pool
    • Clubhouse
    • Playground
  • Any Additional Board Business
    • Assigning Roles for new board members
      • President – Teddy Schell
      • VP – Tim Horning
      • Treasurer – Ela Perry
      • Communication – Sam Hilson
      • Secretary – Jon Maginot
  • Adjourn: 7:47