Memo Accompanying Annual Meeting Minutes – April 4, 2017

From Warner Johnson, Property Manager, Duckworth-Morris Realty Co., Inc.

You can see the 2017 annual meeting minutes here

Enclosed along with this memo are the annual meeting minutes, Board of Directors meeting minutes, the corrected budget from the annual meeting and a sheet showing the fee changes for the upcoming year.  Everyone who attended the meeting is aware that there were errors in the budget that was passed out at the meeting.  The budget enclosed along with this memo has been corrected and reviewed by the board.  Please take time to read the enclosed minutes to familiarize yourself with all that is occurring within your homeowners association.  The fee changes will become effective with May’s payment.

The greatest change that is occurring is the addition of an annual $200.00 infrastructure reserve fee in addition the monthly fee. If your current monthly fee is being drafted the new monthly fee will begin being drafted on May 1st but we will not draft the $200.00 fee until you have given us permission to do so. Please read the minutes for a detailed discussion of why the $200.00 fee is necessary.

Please also pay attention to some changes regarding landscaping that are discussed in the board meeting minutes.  The board is working on policies regarding the type and cost of landscaping that the association is replacing. If a tree in your yard dies and you would like it replaced it will be replaced with a tree similar to what was originally provided when the homes were new. If that was originally a Crepe Myrtle and you would like a Japanese Maple, that is acceptable with the Board as long as you pay the difference in the cost.

Finally, the vast majority of Reston Place Homeowners pay their fees in a timely manner.  Unfortunately; some do not. The association documents call for 1.5% interest per month to be charged on the late association fees which the association has been charging. In addition the association has the right to charge late fees.  The Board has approved a late fee of $25.00 per month be charged on fees 30 days past due. If you read the minutes you will see that cash flow is an important issue for the operation of the association.  Homeowner’s running 30 or more days past due on their accounts cause cash flow issues for the association and it is only fair to those who pay on time that there be penalties for those who do not.