Held on January 28, 2016.
Mr. Warner Johnson called the meeting to order and introduced himself and Steve Tsapatoris, 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.
The homeowners present were provided with a copy of the Gates of Wellington 2015 actuals and 2016 budget. Mr. Johnson then stated he would go over the 2015 actuals and discuss 2016 budget. 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 $11,637.44 had actually been spent, 50% of which was paid by the Gates Association. Mr. Johnson stated that the reason we were slightly over budget was because we had re-landscaped the entryway, removed some dead trees along the roadway, and re-painted the entryway signs. Mr. Johnson said that $50,080.61 had been budgeted for the common areas for 2015 and $47,221.10 was actually spent. Mr. Johnson stated that all budget items were in budget range with the exception of the general maintenance, which there was an increase due to the repaving project in the alleyway, the gate being damaged as well as operating issues with gate, and installing a new security system in the guard house. Those expenses were pulled from the reserve which kept the common area within budget. 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 $66,612.60 on these items and actually spent $66,668.67. Mr. Johnson stated the only major expense for 2015 was that the Terrace Homes were painted, which the expense was pulled from the painting reserve keeping direct cost within budget. Mr. Johnson stated that the insurance on the Terrace homes decreased from $10,983.00 to $10,668.00 due to the fact the insurance carrier had deemed the last two Terrace Homes on St. James Landing that are actually detached would not be included in the renewal of the insurance policy, reducing the Terrace home coverage from fourteen to twelve under the new policy. Mr. Johnson further stated that with this being the case that we had to create a third pay fee scale labeled on the budget as Terrace Homes without insurance. During the renewal the insurance carrier also raised the fee to cover the increase in value as well as the increase in the cost of the construction/material expense. With all that being reported the Association is budgeting $66,297.60 on said items for the direct cost to the homeowner’s. As a result of the change the increase is set to take effect March 1, 2016 and will be as follows:
Terrace Homes with insurance would increase from $243.00 per month to $261.00 per month. The Terrace Homes without insurance would be 177.50 per month and the Courtyard Homes would remain the same $142.00 per month.
Mr. Johnson pointed out that the Association currently had $398.81 in cash in the Trust Account and $13,578.82 in the Fence and Guard House Reserve, $20,416.12 amount in the Terrace Home Reserve and $51,209.60 in the Paving Reserve.
Mr. Johnson then asked all homeowners present if there were any other questions or concerns within the Gates of Wellington. There were a couple homeowners’ with questions which were pertaining to; the paving condition of the roads, the gate system, and the parking regarding the rules and regulation on parking on the roadway. Mr. Johnson stated that the developer Mr. Duckworth was in the process of selecting additional board members from the Association to make decisions on addressing these issues. Mr. Johnson further stated that an attorney was hired to advise the board on the articulation of the parking rules and regulations.
Mr. Johnson then asked all homeowners 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
A signed PDF copy will be made available shortly.