LORIN’S PRIDE HOMEOWNERS ASSOCIATION (HOA)
ANNUAL MEETING REPORT
WHEN: Thursday, 26 July TIME: 7:00 PM
WHERE: Room 2, Calvert County Library, Prince Frederick, MD
AGENDA
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Attendance. Only four of thirty-nine homeowners attended at the Annual HOA Meeting. This lack of attendance greatly limits the Board’s ability to accomplish any significant actions.
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Nomination and election of Lorin’s Pride HOA board officers. Current board has served since 2006. We are seeking volunteers to assume leadership roles.
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Several board members are in the process of resigning. It is unfair to them and to the HOA to ask these individuals to continue to serve.
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If no volunteers come forth to participate on the Board, we will be forced into looking into the services of a professional management business. This will greatly increase our costs and, most likely, result in aggressive debt collection actions against homeowners in delinquency as the HOA will probably not be financially viable if we are forced to turn to a professional management business.
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The duties of the Board are not onerous—quarterly meetings, financial management and bill paying, negotiation of lawn maintenance contract, filing of annual tax returns, information letters to the homeowners, and other limited tasks.
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Please contact Bruce Bennett (brucebennett11@hotmail.com) if you have any interest in participating on the Board.
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Annual Financial Report. Based on annual dues collected and projected 2012 expenses, the HOA should have a balance of approximately $4,000 in its capital improvement/contingency fund by 31 December 2012. The recommended minimum balance approved by the Board in 2011 is $6,000 (one year’s expenses). Although the minimum balance is below the recommended value, the minimum balance should be reached by the end of 2013. The Board accepted the report.
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Annual Dues Assessment Report
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Twenty-nine of thirty-nine homeowners paid their annual dues as of this date.
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Certified letters were sent to fourteen delinquent homeowners in June resulted in four homeowners paying (included in the 29 above), three letters were accepted by homeowners but no payment was received, and seven letters were returned to the HOA without signature or acceptance (two of these homeowners are known to be residing on the property).
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The Board will continue to contact homeowners and place liens against their property in accordance with the Homeowners Association By-Laws.
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Until these homeowners pay their debts, the HOA will be limited in its ability to make sponsor events, undertake capital improvements, or consider lowering annual dues. The latter would require a majority of homeowners to vote in favor of at an annual HOA meeting.
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Everyone is reminded that their annual dues of $300 are due by January 31st of each year. If you are one of the ten homeowners in arrears, please pay as soon as you can. Your cooperation in this matter will be greatly appreciated.
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Property Improvement Project—Lorin’s Pride Circle. At the 2011 HOA Annual Meeting, a proposal was made and approved to make improvements to the Lorin’s Pride Circle. A subsequent Board Meeting accepted a bid and the project approved for execution. This project was begun in May. The landscaping will be completed in September once the hottest part of the summer is over to allow the plants to survive. The cost for this project was approximately $12,400. It has already made a significant impact on run off and general appearance. Once the landscaping is completed, it is anticipated that it will further reduce mulch erosion.
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Landscaping Damage during Recent Storm. The HOA lost several trees during the recent storm in the circle and common areas. A board member voluntarily cut down damaged trees, pruned broken limbs, and disposed of the debris. The HOA Board will consider authorizing a replacement tree to be planted in the circle in the fall.
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Proposal to hold a Lorin’s Pride HOA BBQ. Based on limited interest by Homeowners, this proposal was shelved.
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Raffle—HOA members in good standing may participate. No raffle was held because of poor attendance.
Bruce Bennett, HOA Board President
Tammy Steiss, HOA Board Vice-President
Mike Berstler, HOA Board Member-At-Large
Vacant, HOA Board Secretary
Patti Stueckler, HOA Board Treasurer |
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