The Summit At Lost Ridge Owners Association
November 22, 2008
The following is the actual Meeting Agenda for the Summit at Lost Ridge POA, followed by minutes of the meeting. Any corrections should be sent to Alan Rimer.
Summit at Lost Ridge 2008 Annual Meeting Agenda 2:00 PM Saturday, October 4, 2008 Meeting Place: Mickey & Peggy Ruben’s Home
Introduce Board Members and Officers. (Gerard)
Request that all members present sign the attendance register. (Gerard)
Secretary: Review 2007 minutes. (Alan)
Treasurer: Review of POA Finances. (Alan)
Review of 2008 accomplishments. (Gerard) o Got the gate working properly (Finally!). o New Web site up. o Work on the POA common area on lots 49 & 77 completed and a number of new locations landscaped. o New access to lower ponds completed.
Items for discussion. (Gerard, Mickey, Phyllis, Ken) o Suggestions on how to increase owner participation o Status of current grounds maintenance program and continuation of Tele’s contract. o Upkeep of roads. o Update on NCDOT’s progress on Laurel Branch Rd. o Suggestion to keep gate closed at all times. o Speed limit signage. o Insuring old house & barn. o Board recommends a dues increase (Lot $400, House $800) o Board recommends a $1000 Impact fee for new construction. o New street signs.
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PO Box 878 - Chapel Hill, NC 27514 (919) 929-7076 E-Mail: [email protected]
The Summit At Lost Ridge Owners Association
o Board recommends reconsideration of paving in 2009- 2010. o Board recommends ability to make special assessments up to specified limit. o Additional landscaping and wildflowers (Phyllis) o Architectural Review (Ken) o Report on revision to by-laws.
Developer update Mickey o Lot sales in 2008 & new Realtor o The Summit Reserve – an update
Open Discussion (All)
Vote (Alan) o Current Board Members/Officers Gerard Reid - President Roy Anderson - Vice President Alan Rimer - Sec-Treasurer Grant Blair - Board Member Open Position – Michael Ruben - Board Member
o Accept nominations for new Board member and Officers from floor o Elect new board member. o Elect new officers.
Vote on Other Issues Those in attendance at the meeting will make recommendations on a variety of issues which will be reported in minutes to all Owners. Those items that are deemed necessary to have a vote taken will be sent to all Owners in a ballot to accompany the minutes.
Adjourn for social gathering.
2008 Annual Meeting Minutes
Compiled 10-26-2008 Gerard Reid introduced the Board members, Alan Rimer, Grant Blair, Mickey Ruben and himself. The officers of the POA are: Gerard Reid - President, Roy Anderson-Vice President, and Alan Rimer-Secretary & Treasurer.
Gerard requested that all members sign the attendance form. A sheet with those in attendance will be supplied upon request. 12 voting units were represented which represents 24 of the total 54 votes for the POA. Page 2 of 6
PO Box 878 - Chapel Hill, NC 27514 (919) 929-7076 E-Mail: [email protected]
The Summit At Lost Ridge Owners Association
Old Business
Gerard reviewed the 2007 minutes and the members accepted them by acclimation.
Alan reviewed the 2007 and 2008 financials. We have less than $1,000.00 in our account after paying the October bills. There is close to $2,000.00 in uncollected dues. Alan stated that the POA will be collecting about $600 before the end of the year. A lien will be placed on another house &lot who is in arrears and has refused to acknowledge/pay dues. The Board Recommended increasing the annual dues on vacant lots from $300.00 to $400.00 and $600.00 to $800.00 on lots with completed houses. After some discussion the motion passed unanimously effective January 1, 2009. (Homeowners are reminded that dues were actually reduced several years ago and that these increases do not approach the dues before.) Gerard Reid reviewed the 2007-2008 accomplishments: . Getting the gate working . Got the new web site up and running . work on the common areas was completed . stone steps to access lower ponds was completed . Speed Limit signs New Business
Finances - Our major expense is property maintenance. Presently we are paying $12,000.00 per year to Tele. During 2008 we paid Tele extra for cleaning around the ponds, the plant beds on the lot 49, and 77 switchbacks and the entrance beds. The Board recommended that Tele be paid $1,100.00 monthly. For this increase Tele would include those jobs in his regular duties, so the net effect is modest increase of about 5%. The only landscaping job not included in his duties is cutting the 15 acre bowl area. The Board recommended cutting this area once a year, instead of three or four times and keeping a walking trail cut through this area. This will save the POA more than $1,200.00 annually. After some discussion the members voted to approve the increase.
It was discussed that a new common area flower bed be put in near the intersection of Lost Ridge Trail and Christ Church Road. The Landscape Committee will be gathered to submit a proposal to the Board for this project. (We should ask Dale and Char Collie to help us with this since it will adjoin their property.) Several maples and willow oaks will be planted in the bowl area.
The Board recommended and the members approved providing uniforms for Tele. This will be helpful in identifying him with the Summit by giving him a professional look. It helps that he Page 3 of 6
PO Box 878 - Chapel Hill, NC 27514 (919) 929-7076 E-Mail: [email protected]
The Summit At Lost Ridge Owners Association can question people coming in as to what business they have in the development. Roy Anderson is handling this. The cost is expected to be less than $500.
It was agreed not to insure the house and barn.
Al Rosenberg asked about a light on the gate keypad. It is difficult to see at night. Mickey Ruben will pick up a solar light and install it. (This has been done.)
The Board asked for more member participation in governing the POA. Mark Wolschlag and Tammy & Dave Spence agreed to serve either on a committee or as a director. Terry Sell volunteered to oversee our landscape maintenance. He will instruct Tele on when and how much fertilizer, pesticides, etc. to apply throughout the development.
The status of Laurel Branch paving was brought up and Alan Rimer reported that it is further down the list than it was last year. With our present economic situation it is unlikely to change during 2009. We will determine an appropriate time for all homeowners to write our local NCDOT representative and ask that this be moved back up the list!
Dust control on our roads was discussed and it was agreed that Alan will look into dust control measures and report back to the Board.
Dale Collie asked to consider keeping the gate closed 24 hours per day. After a fair amount of discussion it was decided that too many problems would arise from UPS, FedEx, school buses, fire, police etc. The gate will keep its current hours of opening at 6:00 A. M. and closing at 6:00 P.M.
Two speed limit signs have been installed. The Board recommended two more speed limit signs, which was approved. After some discussion it was decided to install two speed humps; one near the entrance gate and another near the intersection of Christ Church Road. Two "Speed Hump Ahead" signs will be installed.
The possibility of paving our roads was discussed. There is so much to consider, not only the cost, but how wide, how much asphalt etc, it was decided that the information will be posted on our web site for members to review and their questions to be answered. With today's oil prices the cost to pave had increased from $372,000.00 to close to $500,000.00 in early October. [The recent plunge in oil prices will obviously affect that cost – downward!] Based on the increased costs, it would require a special assessment of somewhere between $8,000.00 to $10,000.00 per voting unit. We will monitor asphalt prices for the next 6 to 9 months and depending on the prices the Board may ask the members to vote on this paving issue after all facts including assessment financing are considered. Page 4 of 6
PO Box 878 - Chapel Hill, NC 27514 (919) 929-7076 E-Mail: [email protected]
The Summit At Lost Ridge Owners Association
Impact fees were discussed and the Board recommended a $1,000.00 impact fee be charged to all new construction beginning January 1, 2009. The basis for requesting this is due to the heavy equipment brought in to clear lots, bring material etc that damages our roads. This $1,000.00 will pay for two loads of gravel. The members voted to approve.
Special Assessments were discussed. The Board requested that two types of special assessments be approved:
1. The first type of assessment would be to allow the Board to charge an assessment of one (1) year’s dues (at the then prevailing rate) equal to a lot or lot & house dues at the Board’s discretion without a vote of the members. Currently, that would be $400 for an owner with just a lot and $800 for an owner with a lot and house. Those present voted unanimously for this amendment.
2. The covenants must be amended to allow a special assessment. Presently our covenants do not provide for this. This Special Assessment would be up to $10,000 with the understanding that only one special assessment can be requested within a twelve month period. The exact terms of this Special Assessment will be posted on the web site and ballots will be mailed later this year or early 2009 for the members to decide.
By-Laws were discussed. The Board received a draft copy of by-laws from our Boone attorney the day before the meeting. It was decided to post these by-laws on the web site for members to review and ask questions. In December, 2008 a written ballot will be mailed to each voting unit and we will vote to decide to be accept the bylaws.
A Developers update was requested and Mickey Ruben reported that lot 84 is the only lot closed during 2008. Lots 81 and 82 were sold after the 2007 meeting and closed in late 2007.
Summit Reserve was discussed. This is the 73 acre tract above lot 80 sold to Bruce Wetherell in 2005. No lots were sold in this development. The Wetherell's decided in 2007 to resell the 73 acres as one tract. The property is still for sale. The question was asked if a sale could do something that impacts our property values. Mickey Ruben stated the property was sold with a restrictive covenant requiring the covenants and building guideline to meet or exceed the same covenants and the Summit Architectural Review Board guidelines on the 64 existing lots.
Election of Board Members and Officers: After no one volunteered to be an officer (as President, Vice President and Secretary-Treasurer) Gerard Reid was re-elected President and Page 5 of 6
PO Box 878 - Chapel Hill, NC 27514 (919) 929-7076 E-Mail: [email protected]
The Summit At Lost Ridge Owners Association
Alan Rimer Secretary-Treasurer. Roy Anderson was re-elected Vice- President.
Board Member Gerard Reid term expired at this meeting. He was re-elected. Our by-laws provide for five Board members.
The Present Directors and their terms are:
Gerard Reid - Terms Expires 2011
Alan Rimer - Term expires 2010
Grant Blair - Term expires 2009
Mickey Ruben - Term expires 2010
We have one open director’s position. Two POA members stepped forward to be a Director. Our choices are Mark Wolschlag or Tammy Spence. An election will be held the first quarter of next year when a vote on the bylaws will be held.
Alan indicated that he talked to Dave Spence and he can help us on the web site. He is with Bank of America and handles their IT.
Terry Sell and Mickey talked after the meeting and he volunteered to oversee our landscape maintenance. Terry is a chemist by training and he can instruct Tele when and how much chemicals, fertilizer etc is needed. He is also very familiar with plants and can usually look at them and see what they need.
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PO Box 878 - Chapel Hill, NC 27514 (919) 929-7076 E-Mail: [email protected]