Richland Home Owners’ Association, LLC Annual Member’s Meeting February 6, 2016 *Please be sure to sign in when you arrive

Introductions Governing Board President – Meaghan Barton Vice President – Scott Gee Treasurer – Janice Barrilleaux Secretary: - Robert Broussard Architectural Board: - Chris Betz, Tommy Unglesby, Hayden Hilling Volunteer Board:

Meeting Format The board will present updated information for business conducted in 2016 and proposed objectives for the coming year. The board will ask for objections to proposals. If there are no objections, an unanimous decision will be recorded. Otherwise, the discussion will be tabled and a vote will be held following the presentation. There will be an opportunity for questions and answers following the presentation.

Topics Collections Summary Financial Summary Accomplishments Maintenance Proposed 2017 Projects Dues Board Nominations Q&A

Collections Summary 2016 Dues received 70 of 70 (100%) Liens recorded Liens cancelled Liens still on the books 2

Collections Summary 2017 Dues Collections 33 of 70 collected so far – 47% Outstanding Dues: Please turn in dues no later than February 15, 2017

Financial Summary Current Cash Assets $30,952.32 2016 Income (excludes 2017 dues already deposited. As of 12.31.17) 2016 Income $19,270.00 - Dues Received $43.22 – Bank Interest (Also includes liens received) 2016 Expenses $19,109.18 2016 Net Savings $204.04

Accomplishments Yearly lawn contract expired in March 2016. We solicited bids from 3-4 companies and selected Tiger Green. Pressure washed the Richland entrance (Jan 2017)

Maintenance What does the HOA maintain? Frontage Drainage servitudes Front fence, signage, ditch, etc. Boulevard Irrigation lighting Cul-de-sac Drainage servitudes

Proposed 2017 Projects 2017 Projects Proposed Fence in the front of the neighborhood either needs to be replaced, resurfaced or just repaired.

Dues Board recommends maintaining dues at $300/yr. This rate should sustain smaller projects similar to those completed in the past, and allow for enough reserves to cover unforeseen legal expenses, repairs, etc.

Dues Notices Restrictions Annual Meeting Property subject at closing Available at Clerk of Court Posted on HOA website Annual Meeting Notice posted on Website 1st Statement Mailing in December 2nd Statement Mailing in February Demand Letter Lien

Dues: Timeline Timeline for Dues (as stated in the By-Laws) 1st Statement Mailed December 15 Payable February 1st Late after February 15th 2nd Statement mailed in late February with $25 late fee Collections process begins in March Demand Letters go out in April Liens Filed in May

Dues: Fees explained Fees Interest Demand letter Liens 10% per annum $75 Attorney fee, plus postage May require multiple letters Liens $75 – Attorney fee for lien $65 – Lien recording fee $65 – Lien cancellation fee $75 – Attorney fee for lien cancellation $280 total, plus postage

Collections Process 1st Demand sent to Home Owner of record. Will begin requesting address correction to increase success of future demands. Historically has a 65-70% success rate. Prior to filing lien, will perform “mini-abstract” to ensure accurate Home Owner information. Send 2nd Demand if necessary, otherwise file lien. Follow up at 5yr mark to renew lien if necessary.

Board Nominations Requirements Must attend monthly board meetings (typically 11 per year). Absence for two or more meetings forfeits board membership. Must be willing to serve and represent home owners in any public matter or public hearing affecting the subdivision.

New Business Q&A

Thanks! Slides available at http://www.richlandsubdivision.org Information also available at our Facebook page: Richland Homeowners Association Neighborhood Email Group richland-subdivision@googlegroups.com