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Timberidge Townhomes

Homeowners Association

Annual Meeting

26 February 2017

Your Manager: John Mackenzie

Cell Phone: 940-595-0584


Homeowners Association

2017 Annual Meeting

AGENDA

I. CALL TO ORDER

II. ESTABLISH QUORUM/PROOF OF NOTICE

III. WELCOME & INTRODUCTIONS

IV. APPROVAL OF MINUTES

V. FINANCIAL REPORT

VI. ELECTION OF DIRECTORS

VII. ASSOCIATION UPDATE

VIII. NEW BUSINESS

IX. ANNOUNCMENT OF ELECTION RESULTS

VIII. ADJOURN

Annual Meeting Notice

Thank you for your presence this evening!

• Notice mailed on 01/27/2017

• Establish Quorum (67% of total votes/29 votes represented either in person or by proxy)

Your Board Members

• Robin Montgomery

• David Tercero

• Yuliya Summers

• Judith Merriam-Ream

What does the Management company do and what is their authority?

Answer: The management company is contracted by the Board of Directors to handle the day to day operations of the Association and to provide guidance to the Board. The Board of Directors make the final decisions regarding the Association and the management company is tasked with implementing the Board's decisions and/or instructions.

Approval of 2016 Annual Meeting Minutes

• 2016 Annual Meeting was held Sunday, February 28, 2016.

• Robin Tercero Montgomery, President of the THOA Board read the Minutes.

• Homeowners in attendance for the 2016 Annual Meeting voted to raise the dues to $200.00 starting April 1, 2016, due to future Capital Improvements.

• See 2016 Documents page on the Timberidge HOA website for more detailed Annual Minutes.

ELECTION OF DIRECTORS Each nominee will have a limit of 2-minutes to present a personal

statement, relevant background experience, outline their goals and objectives if elected to the board of directors

2016 HOA FINANCIAL STATEMENTS

2016 Operating Budget - $96,075

Administrative $29,364

44%

Landscape & Irrigation $5,700

9% Utilities $11,568

17%

Common Area $12,000

18%

Taxes & Administration $2,040

3% Professional Fees $3,600

6%

Promissory Note (interest only)

$2,174 3%

2016 Actual Expenses - $65,422

Administrative $26,578

41%

Landscape & Irrigation $4,053

6%

Utilities $10,418

16%

Common Area $13,667

21%

Taxes & Administration $4,125

6% Professional Fees $4,354

7%

Promissory Note (interest only)

$2,226 3%

2017 HOA BUDGET

Your HOA Website

www.Timberidge.Wordpress.com

Association Update

Reserve Fund Options

• 2016 Existing Levels: $100,800 – $200/unit/month

– Operating: $78,649 – $156/unit/month

– Reserve: $22,152 – $44/unit/month

– 2020 Reserve Fund Balance: $97,206.00


• Criterium Option #1: $100,800 – $200/unit/month

– Operating: $55,440 – $110/unit/month until 2019

– Reserve: $49,140 – $98/unit/month until 2019

– Increase reserve fund contribution to $4,410 in 2020

– $150,000 special assessment in 2021 at $3571 per unit

– 2020 Reserve Fund Balance: $748.00



– Operating: $61,528.32 – $122/unit/month

– Reserve: $39,271.68 – $78/unit/month

– Increase monthly assessments 4% per year

– $215,000 special assessment in 2020 at $5,119 per

unit

– 2020 Reserve Balance: $197,484.00



– Operating: $78,649 – $156/unit/month

– Reserve: $22,152 – $44/unit/month

– Escalating funding with special assessments every 4-6

years.

– $280,000 special assessment in 2020 at $6,667 per

unit

– 2020 Reserve Balance: $183,708.00


• Board Option: $105,840 – $210/unit/month

– 2017 Operating: $61,488 – $122/unit/month

– 2017 Reserve: $44,352 – $88/unit/month

– 2018-2020 Operating: $50,400 – $100/unit/month

– 2018-2020 Reserve: $55,400 – $110/unit/month

– 2018 Special Assessment: $45,150 at $1,075 per unit

– 2020 Reserve Fund Balance: $202.00

Timberidge Townhomes Homeowners Association

When is an Architectural Application needed?

An Architectural Application is required for any exterior modification, and/or improvement to the exterior of your townhome.

Before you add window solar screens or install a Satellite Dish please contact your management company. Applications are available on Timberidge Townhomes HOA website (www.Timberidge.Wordpress.com).

Communication: Quarterly Board Meetings

• Dates: – May 2017 – August 2017 – November 2017

• Timberidge Townhomes HOA website:

http://Timberidge.Wordpress.com/ – Meeting dates – Meeting minutes – Other important community information

http://timberidge.wordpress.com/



Neighborly Reminders

• Please observe speed limit (10 mph)

• Avoid parking in another owners parking spot

• Please observe if your dog is constantly barking

• Please pick up after your dog

• ALL Trash goes into the dumpster

Questions and Answers

Your HOA website: www.Timberidge.Wordpress.com

To send you:

• Meeting notices

• Important announcements

• Updates on activities and events Your Email address will NEVER be shared with any one outside of the Association.

We Want Your Email Address!

Timberidge Townhomes Homeowners Association

• Management Company: Secure Association Management - John Mackenzie • [email protected] or • Cell phone 940-595-0584 / fax 940-497-SECURE(7328) or • 4251 FM 2181 STE 230/309 Corinth, TX 76210

mailto:[email protected]



References

• Anderson Construction – Fences

• Criterium Dotson Engineers – Reserve Study

• Oscar Orduno – Retaining Walls

• Jon Wright Industries – Roof Repairs

• Environmental Maintenance – Landscaping

• Quality Electric – Electrical Repairs


Homeowners Association Annual Meeting

26 February 2017

Thank you for Attending!