Attendees. Present from the Board were Asim Ghulamani, Joe Losi, Toby Terrell, Mark Selz, and Lisa Whitley. Representing Wilson Property Management, Joe Stewart.
President Mark Selz called the meeting to order at 5520 McNeely Drive Suite 100 on January 24, 2018 at 6:07 PM. A quorum was established. Lisa Whitley recording minutes.
Approval of Minutes. Motion made by Mark Selz to approve previous meeting minutes, the motion was seconded by Toby Terrell and was unanimously approved.
Treasurer’s Report. Joe Stewart reviewed Balance Sheet and Budget Comparison through December 31, 2017 with Board members. Of note on the Budget Comparison, line 4002 has a deficit due to delinquent assessments related to water submetering (details provided in delinquency report). Line 5503 demonstrates a negative budgeted value due to increase in water usage/cost during the year. First income from water submetering project was reported in October 2017. Delinquency report was reviewed, reflecting a spectacular improvement in the percentage of delinquencies, down to 17 owners (7.87%) for a total amount of $4,895.15. Treasurer’s report was filed with the Board at completion of review.
Management Report. Joe Stewart provided details of the management report. Items of discussion included:
Water meter inspections are complete at this time. Owners may pick up keys from the management office if they choose to do so. If a unit was not inspected (due to inaccessibility), it will be the owners’ responsibility to take care of that from here forward.
Water submeters in each unit has an icon on the display/screen that indicates flow of water. If all water in the unit is off and the icon is present, it indicates a flow of water somewhere in the unit (possibly a leak, etc.). A picture of this icon will be included in the next newsletter for owners’ education.
Joe Losi will analyze monthly water bills available to this point and resulting analysis will be included in the next newsletter to give owners an idea of how much water usage/charges are “normal” for each size unit.
Grounds walk throughs continue in order to improve the property. Recently, it was discovered copper wiring had been removed/stolen which required repair to electrical conduits around the property.
To eliminate the possibility of unauthorized use, the outside water faucets on each building have been made non-functional. Due to the cost of removal of the faucets and water lines, as well as repair to the siding, etc., the lines were capped while the faucets remain in place.
The security company continues to patrol the property. There is a new system in development incorporating GPS tracking, which allows more visibility of their work
Trees throughout the property have the potential for roots to begin causing damage to building foundations, so the recommendation has been made to identify and remove some trees before they become an issue.
Storm water bill from City of Raleigh has increased due to the failure of the city to reflect the 1911 building. Mark Selz will check to ensure the correct square footage is used for the calculation of the increase.
Old Business: Items discussed:
HOA owned unit: the unit was prepared for sale, listed, and is under contract to close in late January/early February.
New Business: Items discussed:
Discussion took place regarding removal from the Board a member who has not attended meetings or participated in Board business since appointment. The bylaws do not prohibit removal. Motion made by Toby Terrell, second by Mark Selz, and unanimously approved by the Board.
In preparation for the Annual Meeting, discussion took place regarding promoting or allowing self promotion of real estate agents well known to University Woods, specifically Ed Karazin with ReMax.
Educating owners on the sales of property during the year is something Wilson Property Management is willing to do in preparation for the Annual Meeting.
Joe Stewart proposed to the Board that Wilson Property Management be added to the HOA website as sales and property management in addition to those currently listed.
Brief discussion took place regarding the continued filing of insurance claims against the HOA that should not be the responsibility of the HOA to fund. Attempts to obtain required proxies or votes to amend the provisions in the bylaws were unsuccessful to a point it is not believed to be worth trying again at this point. Proposal was made to issue a special assessment at the end of each year to all owners to recoup the cost of insurance claims to preserve the efforts at building reserve funds.
Annual Meeting reminder was provided for Tuesday, February 20, 2018 at 6pm at the University Woods Clubhouse.
Motion by Joe Losi to adjourn meeting. Seconded by Toby Terrell. Meeting adjourned at 7:11pm.
Minutes submitted by Lisa Whitley. To be approved at next Board Meeting.