2005 River Station General Meeting Welcome to the 2005 River Station Community Association (RSCA) General Meeting! Please hold questions until the second half of the meeting – a Q&A will follow the presentation. This presentation will be available on the website shortly after the meeting.

Agenda for Today’s Meeting Approve changes to the by-laws by majority vote of the current members Review current status of the River Station Community Association Discuss several major community initiatives: New Clubhouse Community Services (“bulk buying”) Community Covenants

RSCA By-Laws Vote In March 2004 we approved changing the purpose and name of the RSST to a Community Association (RSCA). We also approved to create two levels of membership: Civic Members (access to all common grounds and social events with exception of Pool and Tennis Facilities) Full Members This vote is to accept the wording of the amended By-Laws

Current RSCA Status The condition of our facilities is negatively impacting home value growth in our neighborhood River Station ranks 13 th in Peachtree Corners for Average Home price in 2004 Other neighborhoods are appreciating quickly Major improvements are needed to keep pace with competitive neighborhoods To support these improvements, a increased membership is needed

Financials – 2004 Actuals & 2005 Projected

Current RSCA Committees Planning & Development:Doug Fisher Tennis: Lynn Yost & Steve Bain Pool:Doug Fisher Membership:Eric Portman Grounds:Mike Randolfi Social:Mike MacManus Community Services:David Wool Finance:Barry Adams Sunshine:Wendy Fee Covenants:Rich Dougherty Please signup to participate in one ore more committees – they can all use additional volunteers!

Committee Items Pool: 2004 added new furniture & shading 2005 Season Opening May 28 Tennis: New Windscreens, Drainage & Rules Grounds: 2005 focus on front entrance curb appeal & new play ground equipment Social: Great Easter Egg Hunt – 3/19 Cinco DeMayo Party (adult) – 5/7 Lots of other great events for 2005 planned All River Station Homeowners are Invited! Membership: 105 Members (15 more than 2003) New River Station Community Association Brochure

Major Community Initiatives New Clubhouse Community Services (“bulk buying”) Community Covenants

Clubhouse Initiative It would … Increase home values Be available for Full/Civic Members Offer Complete Functionality Complement existing facilities and site Be targeted for opening in 2007

Currently considering “bulk purchases” of services such as: Sanitation Lawn Maintenance Lawn Fertilization & Weed Control Natural Gas Community Services Initiative

Neighborhood Covenants Initiative Perhaps the Most Important Decision Our Neighborhood Will Ever Make It Is Everyone’s Obligation to Protect Our Investment

Covenants Committee Representation Included both Members as well as Non-Members Additional feedback and updates provided by other randomly selected homeowners Final Draft updates were made based upon Legal review

Now is the Time to Join Together and Protect the Value of Our Homes! “You should think twice about buying into a community with recreational or other facilities but only a voluntary association. If membership drops, the facilities can fall into disrepair and hurt everyone’s property values” Atlanta Journal-Constitution The original covenants expired Dec 2003 A key part in protecting the high standard of living Prices lag behind comparable subdivisions with no river access – a major contributor is because we don’t have covenants and mandatory membership Why do we need Covenants?

An Example for Success: Highland Park Why did Highland Park develop covenant and a mandatory association? Home appreciated at only 50% of the rate of comparable neighborhoods Common areas and facilities were not well maintained What did they do? Created community covenants with mandatory “civic membership phase-in” to transition all current homeowners to full membership Instituted a $3000 Initiation-Fee for future non-member property owners to encourage quick membership signup Results? 95% covenant acceptance and community membership Funding available to maintain the community grounds at an acceptable level

What have we done so far… Converted from Swim/Tennis to RSCA Created a committee dedicated to covenants Took previous covenants as the start point Edited them Brought them in line with current county regulations Solicited legal and realtor advice Multi-stage review process Board Review Test market within the Community Distribution to entire River Station

General protective covenants: Signage, vehicles, nuisance and unsightly conditions Basic Architectural standards Consistent with existing structures Membership Mandatory membership for current homeowners at either: Full Membership: $475 Civic Membership: $150 (access to club grounds and social events, excludes use of pool and tennis facilities) Future homeowners must be Full Members Major points of the draft covenants

What do we need to do next? Finalize Covenants Solicit input from the attendees of this meeting Take final advice on comments: legal, realtor, Board File with County Goal is to have residents sign up for a final version of the covenants beginning in June 2005

Summary: Goals for this year Our purpose is to increase the value of our homes Have all residents share responsibility for maintenance and upkeep of community common grounds Significantly grow membership enabling the construction of a new clubhouse and the revitalization of our front entrance

Q & A