RBOA ANNUAL MEETING AGENDA

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Transcript RBOA ANNUAL MEETING AGENDA

Provide
RBOA INC Special Meeting
RBGC Club House
7:00 PM
14 Nov 2012
RBOA INC
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Welcome -- thanks for coming
Your participation in conduct of RBOA is
greatly appreciated
402 members strong
 Board of Directors, Committees
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All Volunteers
AGENDA
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CALL TO ORDER
QUORUM VALIDATION
PRESENTATION ON SPECIAL ASSESSMENT
DISCUSSION OF MEMBERS
VOTE -- RESULTS
BOARD OF DIRECTORS
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PRESIDENT
VICE PRES
TREAS/SEC
ENVIRONMENT
ARCHITECTURE
COMPLIANCE
MAINTENANCE
PAUL MARYESKI
AL HABERBUSCH
LlNDA BLYTHE
BILL PATRICK
AL HABERBUSCH
FRANK STRASBURGER
PAUL MARYESKI*
*acting
PURPOSE AND POWER OF THE
ASSOCIATION
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“This Association is non-profit, does not
contemplate pecuniary gain or profit to
the members thereof. The specific
purposes for which it is formed are to
provide for maintenance, preservation and
architectural control of the residential
properties and to promote the health,
safety and welfare of the residents of said
properties.” (Article III of the By Laws)
RBOA INC
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QUORUM VALIDATION
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26% of 402 = 105
SPECIAL ASSESSMENT -- REQUIREMENTS
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20 DAY MEETING NOTICE TO MEMBERS
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President Ltr with proxy mailed on/about 19 Oct 12
2/3 RDS OF MEMBERS PRESENT BY PROXY OR IN
PERSON NEEDED TO APPROVE
TREASURER’S REPORT
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$44K Annual Program
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402 mbrs x $110
Money Mkt: $4,430
Checking:
$11,147
Dam Fund: $5,425
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$21,002*
*as of 30 Oct 2012
RBOA INC
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Major annual expenses
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Ground keeping
Insurance
Landscaping
Legal
Utilities: power/water
$8,000
$6,000
$6,500
$6,000
$5,500
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$32,000
LAKE AMICK/PHELPS DAM
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FAILED/FIXED IN 2010/paid $11k
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Contract with Utility Solutions Group
FAILED AGAIN IN LATE 2011
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Different section of outflow pipe
Contract with Construction Service Company
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Decision to replace entire outflow structure
Fixed in early 2012/paid $21k
SPECIAL ASSESSMENT
 PURPOSE:
TO RECOUP $$ SPENT ON
LAKE AMICK/PHELPS DAM REPAIRS
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$31,960 total for both fixes
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Sept 2010 and Jan 201
402 x $75 = $30,150
Will “restore” reserve account
 Carried approx $40k over past several years
 Safety net to cover emergency expenses
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Lake infrastructure and/or legal fees
Special Assessment
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Considerations
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Lakes are a major RBOA expense item
Lake Amick/Phelps in 1994
 Lake Henderson in 2005: $150,000
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$94 assessment for all members
49 of 56 Lake Henderson property members
contributed additional $2,000
By Laws do not allow varying assessment levels
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BOD considering amendment to By Laws
 Members must approve any proposed assessment
CONSIDERATIONS
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Lake Amick is in Unit 2 of RBCCE
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There are 19 lakefront properties
11 are RBOA members, 8 are not
Lake Werk in Unit 1 is similar
RBOA owns the lakes: 5 total
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Deeded to RBOA from Ruckel Properties
Lake Henderson is the largest: 14.5 acres
MOA with RBCC: outlines responsibilities
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Signed in Sep 1994
COVENANT AMENDMENTS
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UNIT 1 COVENANTS EXPIRE DEC 2013
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UNIT 2 COVENANTS EXPIRE SEPT 2013
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FOREST ROAD, SHARON, MARION, GOLF
COURSE
FOREST ROAD, COLLEGE BLVD, DIANE,
IRENE CT, CARR, JASON, LAKE AMICK
FINAL BOD TRY in Mid 2013
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If Fails: several unknown unknowns!!
Open Discussion/Results
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Quorum Reached
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Total properties represented: 154
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105 needed for quorum
Assessment approved
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Votes in favor: 121
Votes not in favor: 33
2/3 properties represented needed for
approval: 121/154 = 79% > 66%
THANK YOU FOR COMING
HAVE A GOOD WEEK!!