Meeting held January 29, 2015.
Mr. Warner Johnson called the meeting to order and introduced himself and Steve Tsapatoris, who is a new Property Manager with Duckworth-Morris Realty. Mr. Johnson explained he had hired Mr. Tsapatoris to help him during the past year and if anyone needed assistance they could contact Steve as well as himself. All the homeowners present introduced themselves. Mr. Johnson reminded the group the Association is currently under developer control and the developer, Duckworth-Morris Realty, appoints the Board of Directors, which is Mr. Johnson, Joe Brown Duckworth and Bill Morrow. Mr. Johnson also made a point to thank Bill Morrow for his service to the Association and encouraged the neighborhood to thank him as well.
The homeowners present were provided with a copy of the Gates of Wellington 2014 actuals and 2015 budget as well as the entrance upkeep 2014 actuals and 2015 budgets. Mr. Johnson reminded everyone that The Gates of Wellington and the Ridges of Wellington share the expenses for the upkeep of the entrance from Rice Mine Road to the Gates Guardhouse and the entrance to the Ridges. He stated that $10,325.00 had been budgeted for the entrance upkeep and $9,914.70 had actually been spent, 50% of which was paid by the Gates Association. Mr. Johnson said that $50,080.61 had been budgeted for the common areas for 2014 and $41,580.01 was actually spent and that the number was deceiving because of some monies pulled from the Reserve to cover other expenses. If those monies had not been pulled from the Reserve, the Association would have ended up on budget. Mr. Johnson stated that all budget items were in budget range with the exception of the grounds, which there was a slight increase due to the increase of fertilization and weed control. Mr. Johnson reminded everyone that the second section of the budget was the direct costs that occurred only if a house existed. The costs were not incurred if it was on a vacant lot. He said the Association budgeted $63,580.00 on these items and actually spent $74,859.10. Mr. Johnson stated some of this was due to the addition of a Courtyard home and a large repair and an insurance increase in the Terrace Homes. He said $7,586.30 had to be spent due to a leak that occurred over a long period of time on the common wall of a Terrace home and was not reported by the previous owner. The Association documents make this repair the responsibility of the Association. He pointed out that the Association budgets $1,800.00 in repairs on the Terrace homes each year and that the Terrace homeowners for many years had been consistently under budget in this expense category. The unspent money had been paid into the Association’s account all of these years. This year the Terrace homes were over budget and recouped some of the extra funds they had paid in over the years. He also said the insurance on the Terrace homes increased from $9,810.00 to $10,983.00 for the year. The insurance premium increase was the primary factor in the Terrace homes’ fee increase. Mr. Johnson reported that the Association is budgeting $66,612.60 on said items, so the net result is a slight increase on the Courtyard Homes and an increase on the Terrace homes. The increase to take effect March 1, 2015 will be as follows:
- Terrace Homes would increase from $234.00 per month to $243.00 per month.
- Courtyard Homes would increase from $140.00 per month to $142.00 per month.
Mr. Johnson pointed out that the Association currently had $361.84 in cash in the Trust Account and $16,347.95 in the Fence and Guard House Reserve, $19,441.47 amount in the Terrace Home Reserve and $67,244.43 in the Paving Reserve.
Mr. Johnson reminded everyone that since the neighborhood Streets were not City streets, the Association is responsible for the paving of the streets. He stated that he had received a new bid this year from a company called Asphalt Restoration Company that had located 21 problems within the asphalt in the Gates of Wellington. The repair cost would cost $17,180.81. After that process it was also recommended that the entire neighborhood be seal coated to prolong the life of the asphalt repair. He also received a bid from a company called Asphalt Consultant, Inc. and Seal Coat Stripping. The total bid was $21, 394.18 for a total cost of $38,574.99. This process having the Restoration Company and the Sealing Company would extend the roadway life of approximately 10 years before having to resurface the roadway in the Gates of Wellington. After a long discussion, a motion was made, seconded and passed by the Homeowners present to proceed with the Restoration Company to complete the alleyway, and after that section was completed, it would be determined how to move forward thereafter
Mr. Johnson then asked all homeowners present if there were any other questions or concerns within the Gates of Wellington, and no one responded. Therefore, with no further business the meeting was adjourned.
Signed Steve Tsapatoris, Property Manager
You can see the signed PDF here.