Attendees. Present from the Board were John Gensinger, Asim Ghulmani, Toby Terrell, Mark Selz, and Lisa Whitley. Representing Wilson Property Management were Jeb Black and Joe Stewart.
President Mark Selz called the meeting to order on October 18, 2017 at 5520 McNeely Drive Suite 100 at 6:13 PM. A quorum was established. Lisa Whitley recording minutes.
Approval of Minutes. Motion made by Mark Selz to defer approval of the prior meeting minutes- awaiting receipt of minutes from recorder– the motion was seconded by Toby Terrell and was unanimously approved.
Treasurer’s Report. Jeb Black reviewed Balance Sheet and Budget Comparison through September 30, 2017 with Board members. Of note on the Budget Comparison, through the end date, Utilities Income remains at $0, due to receipt of utilities payment from Guardian Management Company after September 30. This income will be reflected starting with the October Budget Comparison. Report was filed with the Board at completion of review.
Management Report. Joe Stewart and Jeb Black provided details of the management report. Items of discussion included:
LED lights have been installed in the parking lot light fixtures at no cost to the HOA. Although savings will be minimal, the LEDs are more energy efficient and last longer than traditional bulbs.
There has been a decrease in the amount of trash left outside doors and in the breezeways.
Replacement/repair of missing/broken stairwell railings has begun and will continue throughout the community.
Old Business. Items Discussed:
1. Water Sub Metering (Jeb Black & Joe Stewart):
Installation of submeters and implementation of the billing program are complete.
Inspection of the work remains to be completed. Time TBD. The requirement for the inspection changed from a sampling of units to all units. Wilson Property Management needs a key to each unit or for someone to be present for the inspection. It is not possible to give a time window for the inspection, therefore it is encouraged to give a key for completion of the inspection. If a unit is not accessible, there is a fee for the inspector to return, which will be passed along to the owner.
Wilson Property Management has received some calls from owners about an “average” for the water bills. Because of the few months since implementation, an “average” has not yet been established. As calls are received, owners/tenants are encouraged to have a plumber check the unit if the bill is believed to be high.
The process of water billing (meter readings go to Guardian, Guardian issues bill to owner/tenant, owner/tenant pays Guardian, Guardian sends check to Wilson Property Management). Wilson Property Management continues to receive the water bill from the City of Raleigh and pays the bill each month, recouping from Guardian what has been paid by the owners/tenants.
2. Delinquency Report. Delinquencies overall have declined significantly with emphasis placed by Wilson Property Management. At the present, there are 19 delinquent owners (8.8%) for a total amount of approximately $16,500.
One owner with a delinquency of more than $1,500 has been contacted and states he/she will bring a check to Wilson Property Management to bring the account current. If that does not occur, the foreclosure process will begin next month.
3. Status of 2000 University Woods Road, Unit 304. Property is now owned by the HOA following foreclosure process for delinquency of Homeowners Assessments.
Board unanimously voted to proceed with sale of the property.
Two motions were put forth in regard to the sale of the property:
Motion by Mark Selz: John Gensinger and Mark Selz to act as representatives of the Board and inspect unit, determine and authorize repairs required for sale. Seconded by Toby Terrell. Unanimously approved by the Board.
Motion by Mark Selz: John Gensinger, on behalf of the Board, will select a realtor and execute all documents pertaining to the listing and sale of the property. Mark Selz will provide signature as required for the sale. Seconded by Toby Terrell. Unanimously approved by the Board.
Discussion took place regarding possible requirement of legal documents authorizing John Gensinger to act in this capacity. Jeb Black will contact the HOA attorney to determine if any documents other than the meeting minutes will be required.
Guidelines were discussed for John to proceed including: select a realtor with ≤ 5% commission fee and a cancellation fee of $2,000 to $2,500. Sale price goal of $140,000 was discussed. Board acknowledged the property would most likely require a special deed warranty.
4. Status of amendment to covenants/bylaws regarding insurance claims against the HOA. Still not at the required number of owners voting (or submitting a proxy) in order to amend in order to protect the HOA from insurance claims within the units. Decision was made to approach the subject again at the Annual Meeting, but to also include a line item in the 2018 Budget documents to provide concrete numbers to owners as to how much these claims are costing the HOA (and the owners) to elicit more interest in and support for the amendment.
New Business: Items discussed:
1. 2018 Proposed Budget was presented to the Board by Jeb Black.
One change was proposed, not reflected on the proposal: $1,000 additional to Retention Pond due to possibility of additional maintenance required in 2018.
Motion to approve budget made by Mark Selz. Seconded by John Gensinger. Unanimously approved by the Board.
2. Wilson Property Management is going to initiate a system with the security company to provide a check/balance to ensure quality of service.
3. Reserve Study will be forwarded to Board members for review. Proposed to provide an overview to owners at the Annual Meeting to give an idea of, by year, when we can expect major maintenance/repairs in the future.
4. Next Board meeting was set for Wednesday, January 24, 2018 at 6pm at Wilson Property Management.
5. Annual Meeting was set for Tuesday, February 20, 2018 at 7pm at the University Woods Clubhouse.
Motion by Mark Selz to adjourn meeting. Seconded by Lisa Whitley. Meeting adjourned at 7:28pm.
Minutes submitted by Lisa Whitley. To be approved at next Board Meeting.