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Regal Manor HOMEOWNERS ASSOCIATION 2014 Annual Meeting.

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Presentation on theme: "Regal Manor HOMEOWNERS ASSOCIATION 2014 Annual Meeting."— Presentation transcript:

1 Regal Manor HOMEOWNERS ASSOCIATION 2014 Annual Meeting

2 WELCOME Establishment of Quorum Call to order Introductions Andre Barrett Kuester Property Management Board of Directors Housekeeping Refreshments Restrooms Web attendees Questions

3 WHAT IS REGAL MANOR HOA? Non-profit corporation Incorporated on May 5 th, 2006 by Coulston Enterprises [Earl Coulston] Deed-restricted community 10 Developments Governing documents Regal Manor Homeowner’s Association Covenants Conditions & Restrictions (CCRs) Bylaws ARC Guidelines (adopted by Board of Directors 2008) Governing bodies Board of Directors Management company ARC Committee Nominating Committee Amenities Clubhouse 3 Pools Playground Picnic area Common, Natural, and Open spaces Nation Ford Greenway/Carolina Thread Trail Not affiliated with Regent Park Initially part of “Emerald Lakes” development plan

4 REGAL MANOR HOA CONTINUED Approximately 845 occupied homes 734 Single-family homes 114 Townhomes Over 60 acres of common/natural areas Developments Baden Village Balmoral Fallbrook Phase I/II Phase III Regal Manor Stanton Heights (Builder/developer: Soni Construction) * Wellsley Ford Stafford Oaks Bexley Adler Grove Summerlake Townhomes (Builder/developer: True Homes)* *Still in development

5 VOTING PROCEDURES Nominating Committee Article V, Section 1. Nomination. Other than the initial Board of Directors which will be appointed by the Declarant as provided in Section 1 of Article IV hereof, nomination for election to the Board of Directors shall be made by a Nominating Committee. Nominations may also be made from the floor at the annual meeting. The initial Nominating Committee shall be composed of two of the initial members of the Board. Thereafter, the Nominating Committee shall consist of a Chairman, who shall be a member of the Board of Directors, and two or more members of the Association. At the first annual meeting of the members and prior to each annual meeting of the members thereafter the Nominating Committee shall be appointed by the Board of Directors to serve from the close of such annual meeting until the close of the next annual meeting and such appointment shall be announced at each annual meeting. The Nominating Committee shall make as many nominations for election to the Board of Directors as it shall in its discretion determine, but not less than the number of vacancies that are to be filled. Such nominations may be made from among members or non-members. Nominating Committee 2013-2014 Brandon Vancise, Board of Directors Jemel Hatcher, Association member Jo Winkler, Association member Stacia Henney, Association member Mark Keenen, Association member Richard Sweezer, Association member 2014-2015 TBD, Board of Directors Jemel Hatcher, Association member Jo Winkler, Association member Stacia Henney, Association member Mark Keenen, Association member Richard Sweezer, Association member

6 VOTING PROCEDURES Board of Directors David Yerty—Elected 2013, expires 2016. (2018…) Scott Rossi—Elected 2013, expires 2015. (2017…) Carl Irish—Elected 2013, expires 2014. (2016, 2018…) Brandon Vancise—Elected 2013, expires 2015. (2017…) Dean Gaskins—Elected 2013, expires 2014. (2016, 2018…) Starting in 2015, odd years will elect two members, and even years will elect three members. Terms will be for two years. Nominees (2 x Two-year terms) Carl Irish* Dean Gaskins* Nominations from the floor: Anu Devasia Eric Koppenhofer Jim Lieb *Vetted and recommended by the Nominating Committee

7 COMMUNITY GROWTH We grew 16% from last year, adding 114 homes. We have reached 92% of the completion target.

8 ACCOUNTS RECEIVABLE Assessments are due quarterly: January 1, April 1, July 1, October 1 Average $55,823 (last 12 months) January had 227 delinquent account with a balance of $76,344.47. As of September 30 th, there were 83 delinquent accounts with a balance of $31,464.30 For 2014, we’ve written off $15,165.65 in bad debt. Amounts include delinquent assessment(s), late interest, and legal fees (lien, foreclosure) The Association currently owns 3 properties

9 2014 CASH ACCOUNTS OPERATING CASH$64,919.58 PETTY CASH$6,445.77 RESERVE CASH$7,425.00 TOTAL CASH$219,655.55 RECEIVABLE BALANCE $67,859.84 *As of October 31, 2014

10 2015 OPERATING BUDGET ASSOCIATION ASSESSMENTS $566,440 ASSESSMENTS TO RESERVES -98,348 LATE INTEREST INCOME 1,800 LEGAL FEES INCOME 6,000 AMENITY RENTAL INCOME 12,000 TOTAL INCOME$487,892 Administrative$173,820 Building and Grounds 166,622 Community Amenities 55,550 Utilities 91,900 Total$487,892

11 FINANCIAL SUMMARY *As of September 30, 2014 **Budgeted

12 2014 IN REVIEW Full downloadable list will be available at www.RegalManorHOA.com All common property now owned by the Association Resurfaced clubhouse parking lot Added grills to the picnic area Installed water/power at several monuments Landscaping improvements Updated collection policy New vendor partners: Landscaping: Providence Landscaping Group Pool: Swim Club Management Group Management: The Cusick Company Replaced clubhouse carpet with laminate floor Removal of builder signage Updated clubhouse rental policy Replaced pool deck drains and patched deck Started the “Helping Hands” initiative Established RFP documentation and process

13 2014 CHALLENGES Accounts Receivable/Foreclosures Transition Clubhouse lot/taxes Contract performance Landscaping Pool Volunteers Compliance

14 2015 GOALS Complete HOA Transition Common area improvements Clubhouse Parking Entrance Monuments Infrastructure Irrigation Lighting Standardize Pool Expanded deck Picnic area Refurbishment Adding amenities Heritage Lake New amenity center Sidewalks A.O. Jones Starlight Regent Parkway Farmhouse Security Electronic access CCTV expansion

15 AMENDMENTS Proposed changes/amendments: Changing assessment collection from yearly to quarterly Clarifying collection procedures for fines and fees Lowering the percentages required to meet quorum Online voting

16 HOW CAN I BE INVOLVED? Volunteer Time Services Expertise Goods/equipment Inform others Stay alert Communication Open session Website Facebook Email us Management company

17 COMMITTEES Regal Manor HOA Board of Directors Regal Manor HOA Board of Directors Social Committee Pool Committee ARC Committee Grounds/Maintenance Committee Rules & Regulations Committee Communications Committee Sidewalk Committee Security/Preparedness Committee Management company

18 CONTACT INFORMATION Kuester Property Management www.kuester.com Andre Barrett (803)802-0004 (888)600-5044 24 hour hotline support@kuester.com **Effective December 1, 2014** The Cusick Company www.cusickcompany.com Brian Peterson/Rita Barrett (704)544-7779 Regal Manor HOA website: www.RegalManorHOA.comwww.RegalManorHOA.com Facebook: www.facebook.com/groups/regalmanor2/www.facebook.com/groups/regalmanor2/

19 REMINDERS Christmas dumpster Decorations (30 days) No roadside leaf pick-up service Social Committee events January assessment changes No Board meeting in November/December

20 VOTING PROCEDURES Voting Results Carl Irish* 197 Dean Gaskins* 196 Anu Devasia 45 Eric Koppenhofer 18 Jim Lieb 22 *Elected to two-year terms

21 QUESTIONS

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