Presentation on theme: "Annual Meeting September 29, 2010 River Pines of Farmington Condominium Association."— Presentation transcript:
Annual Meeting September 29, 2010 River Pines of Farmington Condominium Association
Welcome…… to the River Pines 2010 Annual Meeting River Pines of Farmington Condominium Association
Agenda Current Board of Directors Nominations for 2010 – 2011 Board of Directors Voting Financial status Social Committee report Update of annual projects
Agenda (Cont’d) Update of Reserve Projects Security cameras Association governing documents Deck standards now available Your overgrown shrubbery Questions State of the Association - –Roof Replaceme nts –Unit painting –Deck staining –Concrete replaceme nt –Changes for 2010
Current Board of Directors Ed LeFevrePresident Donna JonesVice President Tom CornellTreasurer Gene KerwinSecretary Shirley Niesyto Director Joyce McFaddenDirector Bob EixDirector State of the Association - –Roof Replaceme nts –Unit painting –Deck staining –Concrete replaceme nt –Changes for 2010
Directors Positions to be Voted Donna JonesResigning Tom Cornell3 rd Term Shirley Niesyto 2 nd Term Joyce McFaddenResigning
Nominations for the Board Janet Hall Paul Pardee
Financial Status – Operating Budget - Budget $1,128,523 Spent (8/31/10) 711,760 Committed365,280 Balance $ 54,553 Approximately 4.8% to be spent
Financial Status – Reserve Fund - Planned $609,301 Spent (8/31/10) 406,309 Committed173,096 Balance $ 29,895 Approximately 4.9% to be spent
Social Committee Report Sharon Hicks will bring you up to date with the activities of the Social Committee
Annual Projects Report Each year our project planning and implementation is getting better. Our Site Manager, Bob Goodman is following all our projects and his attention to details is one of main reasons for our success.
Annual Projects Report Our Administration and Finance Manager, Julian Yakimowich is participating in the planning and following the cost part of the projects making sure our costs are tracking our planning..
Annual Projects Report We are maintaining a “Commitment Ledger” for both the operating budget and the reserve plan. This effort keeps our attention on the budget and planned expenditures…… preventing surprises at the end of the year.
Annual Projects Report Work Orders – So far this year we have processed over 825 work orders We spend approx. $100,000 doing the repairs requested
Annual Projects Report Work Orders – The top 6 areas of expense – Windows Tree removal Gutters and downspouts Basement repairs Roof repairs Garage door repair
Annual Projects Report Painting – We spent a little more for painting this year because we applied (2) coats of stain to all units. We are finding that window sills are requiring touch up after (3) or (4) years.
Annual Projects Report Painting – Earlier this month, we checked and repainted 310 window sills on units that were painted in 2006 and 2007 Of course this has increased our overall painting cost but we are trying to keep up the appearance of our units
Annual Projects Report Roof Replacement – We have replaced (26) unit roofs this year plus the pump house roof and spent $167,481. Approx. $6,450 per unit Average roof life = 14 years We expect 20 to 25 years from our new roofs
Annual Projects Report Roof Replacement – Based on the (14) year roof life-- $40 of your dues goes to the reserve fund every month for roof replacement We have (97) roofs remaining to finish the Phase I project
Annual Projects Report Window Repair & Replacement In 2009 we spent $102,237 repairing and replacing windows. So far we have spent and committed $43,248 and we expect to be $10K to $20K under our cost projection ($77,000).
Annual Projects Report Window Repair & Replacement We are replacing the lower window sash and sill with PVC materials that should never need replacing again.
Annual Projects Report Irrigation System - We have pumped a little over 9 million gallons of water through the month of August. We expect to pump less than 10 million gallons …..a little less than last year.
Annual Projects Report Irrigation System - The pumping and well system has operated flawlessly all summer. Our sprinkler system repair costs are down about 50% from 2009.
Reserve Projects We have (45) specific line items or projects in our reserve plan. Garage doors Garage lights Grading around units Gutters and downspouts Roof replacement Phase I & II Brick inspection and repair Unit painting.
Reserve Projects Projects (Cont’d). Unit siding Window and door replacement Deck replacement Deck staining Asphalt road repair and replacement Concrete driveway and sidewalk repair and replacement.
Reserve Projects Projects (Cont’d). Catch basin repair and replacement Tennis court fence replacement Tennis court surface painiting Tennis court surface repair and replacement Tree replacement Mulching tree and shrub beds.
Reserve Projects Projects (Cont’d). Chimney cap replacement Reserve Study updates Consolidated Master Deed Security cameras for entrances All of these projects require time for planning, scheduling and implementation..
Reserve Projects Over the next 30 years we are planning projects that are estimated to cost over $25 million The following chart shows our projected spending and the resulting reserve fund balance.
Reserve Projects Our fund balance begins to climb upwards due to the completion of Phase I Roof Replacements and the Trim Board project. Contributions to the reserve fund increase every year at a rate of 2.4%..
Asphalt Paving Project We inspected our asphalt roads again this year and find that we have very little repair work to do other than crack sealing Aggressively going after deteriorating asphalt in previous years is paying dividends.
Asphalt Paving Project As we have maintained the road surfaces we have been paying attention to the appearance and the surface of our roads Since River Ridge Trail is one of the oldest streets within the complex we considered resurfacing a portion this year.
Asphalt Paving Project The repaving consists of milling 2 inches off the existing asphalt…… then installing 2 ½ inches of new asphalt and then compacting it.
Asphalt Paving Project River Ridge Trail is about ¾ miles long and we have about 1,800 ft that has several patches and is somewhat rough and unsightly We have repaved 1.000 ft this year at a cost of approximately $30,000.
Asphalt Paving Project In 2011 we plan to repave another 800 ft of River Ridge Trail We will also consider paving approximately 800 ft of Blue Spruce in either 2011 or 2012 depending on the condition of the street.
Asphalt Paving Project Scheduling and the inconvenience to co-owners is always a concern but the end result seems to worth it.
Security Camera Surveillance We have experienced at least (3) break-ins so far this year. All the break-ins have happened during the middle of the day
Security Camera Surveillance. Although we cannot stop them we felt we could provide a deterrent
Security Camera Surveillance We recently installed security cameras and put up signs indicating the site is under surveillance We intend to record all incoming and outgoing traffic………… 24 hours a day.
Security Camera Surveillance We do not want to provide a lot of details regarding how the system works for obvious reasons If you lock your front door and put up a sign “Key is under the Mat” you will probably get unwanted visitors.
Security Camera Surveillance Last week we discovered someone damaged the flower bed at the front entrance..
Security Camera Surveillance We contacted the Farmington Hills Public Schools and talked with their Transportation Office. The following day they advised the driver was a “new driver” They agreed to cover the cost of the repairs.
Security Camera Surveillance We think the mere fact we have surveillance cameras may be enough to discourage the burglars Time will tell………….
Association Governing Documents There are (3) governing documents in a condominium association The Master Deed Condominium Bylaws Board Rules and Regulations.
Association Governing Documents These documents define: The association Establish the responsibilities of the association and the co- owner.
Association Governing Documents We have many new co-owners and others that have been members of the association for many years Take the time to read these documents so you know what you can do and what you cannot do.
Association Governing Documents All co-owners must have a copy of these documents You were given a copy of these documents when you purchased your unit.
Association Governing Documents Replacement documents can be obtained from our Web Site at: www.riverpinescondominiums.com You may also obtain a copy from McShane and Associations.
Association Governing Documents Living in a condominium is different that living in a private home Many things you would do in a private home require approval of the Board of Directors when living in a condominium.
Association Governing Documents Approval by the Board of Directors is given in writing and getting an “OK” from a board member is not “board approval” To be safe……..Submit a Modification Request and obtain board approval.
Association Governing Documents By the end of this year you will be receiving……………. A Consolidated Master Deed with updated drawings The Amendment to the Bylaws regarding FHA certification.
Association Governing Documents You have already received the Board updated Rules and Regulations This information will also be on our web site as soon as it is available.
River Pines Web Site www.riverpinescondominiums.com Remember to check our web site. This site is provided for your benefit and is a great source of information.
Overgrown Shrubbery Many co-owners planted shrubs, bushes, flowers, etc. when they moved in years ago In most cases they are watered and tended to with great care They have grown over the years and in some cases they are overgrown and unsightly..
Shrubs in this condition make it very difficult to paint units Vines climbing the brick wall attach to the mortar and actually deteriorate the mortar It takes time but eventually the mortar is compromised..
Overgrown Shrubbery We ask that co-owners take care of their plantings If you are a new co-owner and the plantings were there when you purchased your unit…… these plantings are still yours You can remove them if you do not want to maintain them.
Overgrown Shrubbery If the association has to remove them the cost will be billed to the co-owner So, please help us and keep things trimmed and neat..
Deck Contruction Standards Deck construction stardards have been developed and are available on the River Pines web site These standards provide step by step instruction for constructing or modifying a deck.
Deck Contruction Standards Call McShane Management for a copy of the deck standards if you do not have access to the Internet. McShane will provide both the Modification Request forms and the Deck Construction Standards upon request.
Deck Contruction Standards All deck construction and replacement of deck boards require a building permit from the City of Farmington Hills Building Department All deck construction and replacement of deck boards require a Modification Request and approval from the Board of Directors.
Questions Hopefully we have provided all the answers to your questions…. but just in case we have not…. we will open the meeting now for your Questions--.
Meeting Adjourned We trust this has been an informative evening………… Drive safely going home…….. Good Night.