Crossings at Riverwalk Homeowners Board of Directors Meeting
The Board meeting was held July 29, 2014. In attendance were Eric Brody from Cedars Management Group, Steve Burns, Maria Orona, Darlene Fete, Pat Shillinglaw and Helen Higgins.
Eric Brody brought everyone up to date on the transition from prior management to present. They are in the final process, just waiting for checks to clear but Cedars is following up daily.
As to date, 3 liens have been filed for past due HOA dues. A motion was made and carried that the Management Company move forward on the 4th lien. The 15 day letter expires 8/1/14 so lien can be filed after this time. There is a 5th lien that can be filed after this time but it was determined that the resident be contacted personally prior to placing the lien on their property. If no action by the Friday following expiration of their letter, a lien will be placed.
Some residents are past due with smaller amounts. If the balance owed is $157.50 or less, these balances are to be forgiven and residents start with -0- balances. Motion made and carried.
A future budget was discussed. Eric suggested we go a full quarter to see exactly what our expenses are before preparing a new budget. Steve stated we may have to look at our current dues to cover future expenses. A discussion ensued and it was decided we delay increasing dues until a budget is prepared and then we can present any HOA dues increase at our annual meeting.
Darlene reported we had $8,380.75 for operating expenses. There was a CD that has been cashed out and moved to New Dominion Bank as they are currently paying 1% interest. One other CD at High Point Bank matures in August is to be transferred to New Dominion if interest rate remains the same or higher. Darlene researched and presented local banks for their rates but not one could match New Dominion. Motion was made and carried for Steve and Darlene to be on signature cards.
Darlene reported that the Town of Jamestown Planner must okay any trees to be planted. No trees can be removed without approval of Town Planner as there is potential of a $10,000 fine. Eric informed the Board that he had received a bid of $2500 to trim trees and remove debris, as well as remove any dead trees or bushes.
Helen asked if shrubs are to be trimmed. Eric will check and get back with Board members.
Steve asked for input about a risk assessment. Perhaps we should pursue putting aside designated funds for future expenditures. After much discussion, it was decided we would not hire an expert at this time for an assessment. We will continue to build our reserves for any unexpected expenses.
Cedars Management will be here Thursday, August 1st, to take pictures and do a walk-thru to check our complex. If any violations are detected, Cedars will do a spread sheet noting the violation and unit. He also stated a letter will be sent out reminding residents to clean up after their dogs.
Meeting adjourned at 8:45 PM. The next meeting is scheduled for Tuesday, September 23, at 7:00.
Respectfully submitted, Pat Shillinglaw, Secretary