Towne View Estates HOA

Annual Meeting

March 29, 2008

Agenda

Board of Directors / Elections Financial Review 2007 Summary Reports From Our Committees ‘Yard of the Month’ Program General Issues / Open Discussion

Current Board of Directors President: Tom Schneider (term expires 3/08) Vice President: Julie Gatherum (term expires 3/09) Treasurer – Suresh Kumar (term expires 3/08) Secretary - Ron Koger (term expires 3/08)

Positions Requiring Election President (no volunteers – Tom Schneider continues in position) Treasurer (Carol Forest volunteered – unanimous approval) Secretary (no volunteers – Ron Koger continues in position)

Board of Directors / Elections

Financial Review

Itemized Financial Statement 2007Revenue:Beginning Bank Balance as of Jan 1st 2007 56,238.18Dues Collected 46,604.99Interest Income (on CD Account @4.77%) 998.84Gross Revenue 2007 103,842.01

Expenses:RecurringUtilities:

Water (4,340.36)TXU Energy (526.52)

Landscape (16,887.00)Insurance (3,246.96)Misc Expenses (1,555.74)Bank Fees (170.00)

(26,726.58)Non RecurringLandscape - Non Recurring (5,975.40)Irrigation (Water Proofing Systems) (6,225.00)Curbside House Markings - Ist Payment (710.00)Total Expenses 2007 (12,910.40)

Net Revenue - Ending Balance 2007 64,205.03

Began January 2008 with 24 Homeowners with Delinquent Dues of $10,805.81

Of five liens files with Denton County Records last year, two liens have been released after receipt of monies due

$20 fee for each filing of lien Liens have no impact on homeowner until owner decides to sell

or re-finance property

2007 Summary - Delinquent Dues

Chairperson: Eric McCully At last year’s annual meeting

– Announced plans to restore irrigation along FM 3040 (cost split with Town of Flower Mound)

– Obtained approval for $30,000 to be used for (a) new corner bed at Lake Forest and new corner/median beds at Towne View and (b) tree plantings along FM 3040

Since last year’s meeting– Restored irrigation along FM 3040– Installed new Lake Forest/Towne View beds @ $10,921– Obtained design, proposal, and Town approval for tree

plantings along FM 304

Landscape Committee

Tree Proposal (w/o sales tax)– (41) 30-gal live oak, red oak, lb elm, & little gem mag = $13,675– (98) 15-gal crape myrtle & 30-gal NS Holly = $16,671– (60) 3-gal pampas grass = $1,339– Includes stakes, mulch, and two-year guarantee– Total plant materials = $31,685– Bubbler irrigation tied to existing controller @ $8,315

– Total $40,000 proposal ($41,395 if split into two plantings)

– Plant guarantee requires Valley Crest maintenance contract extension

Landscape Committee

Chairperson: Claudio Forest

Architectural Review Applications– Only 7 formal applications received in FY2007

More work in completed in 2007 in our neighborhood than those (7) applications!

Increase Neighborhood Involvement– Make everyone aware of the bi-laws and neighborhood covenants that

they signed upon closing for their properties. Members of our HOA need to have their projects reviewed and approved

for the benefit of all our residents. Make sure that additions, sheds, fences, etc. meet or exceed our community

standards as well as the City of Flower Mound’s basic requirements. Need for follow-up with members that do not apply for approvals or ignore the

ACC recommendations.– Stern letters or site visits from members of the Board?– Turn the offending Members over to the City if no permit was issued?– What are the limits of our oversight?

Architectural Control Committee

Architectural Control Committee

TVE Community Rules Enforcement– Door Hangers / Reminders ?– Special mailings or continual notices in the newsletters or website?– How much and what should be enforceable ? A Constant Question…– What are the limits of our oversight?

Architectural Control Committee Web Page– Webpage content for a better neighborhood– Issues:

Would members of the HOA view a special ACC page? What would be beneficial to our neighborhood and its residents to be aware of ? Neighborhood input on content and seasonal issues ? Make all forms and copies of the covenants available ? Links to City Services, Departments, Suppliers, Vendors, etc. ?

Launched January 2007. Established to promote neighborhood appeal thru well-kept yards and thereby protecting our home investments.

One monthly winner will receive a $50 Gift Certificate to Calloway’s Nursery, a sign placed in their yard, and a photo of their home displayed on the TVE YOM web page.

Monthly winner is selected by Cheryl Jordan, TVE own resident realtor, and the current members of TVE Landscape Committee.

Benefits to all residents also include: – Monthly Gardening Tips & Coupon from Calloway’s Nursery– Complimentary CMA anytime upon request– Special TVE Discounted Realtor Commission when listed

with Cheryl Jordan, REALTOR. For complete details, visit TVE website YOM web page

‘Yard of the Month’ Program

Maintenance of Association’s Brick Screen Wall Fence– Repaired damaged panels and replace caps along Towne View

Boulevard, FM-3040, and Lake Forest Boulevard– Paid ProofRock $5,843 for repairs– Other two estimates were over $15,000

Painted House Numbers on Curb for Entire Neighborhood No Lights on Entrance Signage Mail Delivery Issues Financial Software Investigation / Management Services Increase Member Participation in Association Activities Relocate Entrance Sign at FM 2944 and Northshore Drive Church Traffic Concerns

General Issues / Open Discussion

Elections skipped due to lack of volunteers Approved funding to complete Landscape Committee’s Tree

Proposal in single expenditure, including addition of bubbler system.

Actions Taken During Meeting

Request made for HOA to contact city about streetlight at FM-2499 and Northshore Blvd that is not operational.

Venkata Boddu of 2313 Dana Drive to investigate possibility to adding gates to our community.

Meeting Action Items