Tannerie Wood Homeowners Association

TANNERIE WOOD http://www.tanneriewood.com

TANNERIE WOOD HOMEOWNERS ASSOCIATION P.O. BOX 932 FORT WASHINGTON, PA 19034

TANNERIE WOOD HOMEOWNERS ASSOCIATION BOARD OF DIRECTORS MEETING MINUTES April 22, 2011

Attendance: Board Members Present: Sheryl Barbin, Carol Cohen (via phone), Ray Funkhouser, Bernice Marinucci, Michael Rush, Carole Witt Unable to Attend: Joan Berschler Management: Katie Doyle

Call to Order: Bernice Marinucci, President, called the meeting to order at 7:28 p.m.

Homeowner’s Forum:

No homeowners attended the meeting.

Minutes:

A motion was made by Carole Witt and seconded by Sheryl Barbin to approve the March minutes with the following correction: The minutes distributed by hand had the incorrect treasurer’s report attached. The correct report was included with the email distribution. The motion was carried unanimously.

Treasurer’s Report:

Ray Funkhouser distributed the Treasurer's Report via email prior to the meeting.

Follow-Up Report:

The Board went over the follow ups. Verizon Fios Installation – Maria Rosen notified us that she has been in touch with Verizon and they are still discussing with their lawyers.

Seal Coating/Paving – Katie notified us that she has been notified by 5 homeowners that they are interested in receiving quotes to have their driveway seal coated or paved (three board members joined the list). A deposit was sent to Cornell to pave Van Buren and seal coat Tyler, Jefferson, Monroe and Grant Mews. Homeowners will be notified prior to work being done. Since the meeting, Cornell advised they had an opportunity to pave Van Buren on May 9. Homeowners were notified and work was completed. Seal coating will be done on the four cul-de-sacs listed above week of May 16. Homeowners will be notified.

Basin area survey – A survey was done on the basin area with stakes around the edge. There was a question on some dead trees along the edge as to whether they belong to the association or homeowners. After the survey, it was determined that the trees all are on association property. Katie will arrange for them to be cut down. Bernice suggested replacing the stakes with pins that are permanently in the ground and mowing can be done over the pins. Katie will check into this.

Rumble Strips on Susquehanna Road – Upper Dublin did some paving-over work at the intersections and some board members felt that helped with the noise factor as some homeowners complained.

Tyler Planter – K&K did a picture proposal and it was distributed to the residents on Tyler Court for their opinions. The homeowners that they felt it was too close to what they had and asked if some of them could meet with K&K and discuss further. Katie will make the arrangements.

Parking Problems – Katie is waiting for a price to paint white lines on the parking pads. A letter is being drafted to send to all homeowners.

Management:

Management Contract – Our contract with Prudential Felte runs out the end of April. Katie reported that they would like a 5% increase for a one-year term. Carole Witt made the motion to change the term to two years, Sheryl Barbin seconded. The rest of the board agreed unanimously. Katie agreed.

Landscaping – The subject of flowers in our front planter was discussed. Once the tulips die, Katie got a price from K&K to fill the front planter with summer blooming flowers. The cost will be $560.00. The board agreed unaminously.

Inspection – Katie hopes to start the Spring inspection next week. It was determined that although she would do the whole inspection, she would emphasize the larger items (stucco, garage doors, front doors, roofs, etc.).

Minutes – Katie brought up the fact that most communities she works with do not distribute their minutes to each homeowner on a monthly basis. The cost should be taken into consideration. It was also suggested that we should “Go Green” and only distribute hard copies to those homeowners who have a hardship and do not have access to a computer. Ray suggested possibly doing the minutes on a quarterly

Tannerie Wood Minutes – April 2011 Page 2 basis. The minutes are always on our website: www.tanneriewood.com. No email account or password is required to read the minutes online. The discussion will continue at our annual meeting. Old Business:

Changes to Resolution – Nancy suggested the board go over the remaining sections of Resolution #4 so a complete revision can be made. Since Carol Cohen was not here in person, it was suggested it be delayed until next month. Nancy will get the information to Carol once she returns.

New Business:

Arbor Vitae in front – Bernice suggested we look into getting a row of arbor Vitae along the back of the houses on Tyler to improve the visual from Susquehanna Road and give more privacy to the homeowners. Katie will check on the cost.

Traffic Bump - The Board has been attempting to get a traffic bump on Honey Run Road to slow down the traffic and make it safer. The township previously stated the traffic bumps interfere with the snow plow and cannot be on roads they plow. Katie mentioned that there are “portable” bumps that can be removed in the winter. In the meantime, Bernice mentioned that there is a bump on Lincoln Drive (the road that enters The Woods). Katie checked with Upper Dublin and they told her that Lincoln Drive is a dedicated road to the school. We assume they are talking about Temple. This appears to be a closed subject.

Exterior Modifications

1. Replacement of roof on Monroe – approved.

The meeting was adjourned at 8:50 p.m. The next meeting will be on Thursday, May 19, 2011. All homeowners are welcome.

Respectfully submitted,

Nancy Bunch Carol L. Cohen Nancy Bunch Carol L. Cohen Recording Secretary Secretary

The warm weather has arrived. Many of us will be outside and we will have our windows opened. Be considerate of your neighbors… ● Pick up after your dog ● Keep the barking down to a minimum

Your cooperation would be appreciated.

Tannerie Wood Minutes – April 2011 Page 3

Tannerie Wood Homeowners Association Treasurer's Report April 21, 2011

Account Type Monthly YTD EOM / EOY Interest Interest Account Paid Paid Balance

Wachovia checking (3/31/2011) $ - $ - $ 1,106.31

Wachovia Money Market (3/31/2011) $ 19.90 $ 54.43 $92,873.67

Vanguard Prime Money Market Fund (Reserve (3/31/2011) $ 1.92 $ 4.21 $26,978.20 Account)

Vanguard - Reserve CDs (3/31/2011) $ 19.84 $ 37.48 $40,000.00

TOTAL $ 41.66 $ 96.12 $160,958.18 (previous month $163.402.46)

(Income deposited to Money Market since 3/31 = $1050.02) (Checks written/not cleared as of 3/31 = 0) (Anticipated income from unpaid dues, etc = $200) (Checks written since 3/31 = 0)

Checks cleared during February, 2011 Amount

Prudential Felte Mgt $ 1,100.00 Nancy Bunch $ 786.75 Outdoor Design $ 1,380.00 (the last of the snow) P. McManus $ 58.36 PECO (4 checks) $ 110.83

TOTAL $ 3,435.94

Deposits to Wachovia Checking $3,500.00 (from Money Market acct) Deposits/Credits to Money Market $950.00 Checks Written from Reserve Account $0.00

Tannerie Wood Minutes – April 2011 Page 4 Current situation of Vanguard Reserve Accounts --4/21/2011

Current Money Market Fund rate = 0.08% 3 month CD rate at 3/16/2011 quoted NA 6 month CD rate at 3/16/2011 quoted 0.25% 12 month CD rate at 3/16/2011 quoted 0.45%

$10,000 6 mo. @ 0.25% Bank of Baroda, New York, NY $10,000 6 mo. @ 0.50% Beal Bank, Plano TX $10,000 6 mo. @ 0.40% State Bank of India, NyNY $10,000 6 mo. @ 0.25% Sovereign Bank, Wyomissing PA

(NOTE: these are "laddered" to mature at one-month intervals) Interest rates remain dismally low.

Tannerie Wood Minutes – April 2011 Page 5