1. Decora Park Home Owners Association
May 3, 2017
Annual Meeting
Welcome!

2. Verification of Quorum
Do we have quorum?
If not we need a motion from the floor to continue the meeting without quorum

3. call meeting to order

4. Introduction of Board Members & Managing Agent
Kyle Kapa – President
Kevin Karasinski – Vice President
Current Term: 2015 to 2017
Board member since 2013
Andrea Lombardo – Treasurer
Brian Meissen – Secretary
Board member since 2015
Theresa Kincaid – Member at Large
Lori Almasy – Community Manager, Kramer Triad
Current Term:
Board member since 2016

5. Association report

6. Approval of 2016 Annual Meeting Minutes
Please take a moment to review minutes from last year’s Annual Meeting
Need a motion from the floor to approve

7. 2016 Landscaping/Grounds Community
Continued trail maintenance
Repaired numerous lighting problems
Excavated and mulched park trees
Fresh mulch at entrance and park
2016
Association
Accomplishments
Community
Hosted several community events with good turn outs
Facilitated change of management companies
New website –
Maintained positive balance sheet and continued to improve grounds despite continued delinquencies

8. THANK YOU if you’ve helped lead any projects or events!
Side walk replacements around park
Paint front entrance fence
Flag pole at front entrance
Trail maintenance
Path Repair
Brush and Debris Cleanup
On going maintenance plan
Neighborhood social events
Continue with the following events
End of summer party in the park (Sept)
Tree-lighting w/cocoa at gazebo (Dec)
Need volunteers to help plan events
Let us know if you have ideas for other social events
2017
Possible Projects
THANK YOU if you’ve helped lead any projects or events!
Please contact any BoD member or Kramer Triad if you are interested in helping with any of these projects or have other project ideas.

9. Lombardo Construction Updates
Spec home construction started on lots 183 and 185.
4 lots Sold (153, 182, 224 and 225)
Average selling price $199,000
Two additional lots reserved pending purchase agreement.
Decora park “high traffic sight” for Lombardo. Lots of prospects, and exceeding expectation.
Lombardo Construction Updates

10. The better the sub looks, the better chances people will buy!
Maintenance is extremely important with all the new home buyers driving through the subdivision
The better the sub looks, the better chances people will buy!
A well maintained subdivision increases appraisal values
Board also focusing on general maintenance of common elements, especially front entrance
2017 Maintenance
Peeling paint
Rotting trim
Yard maintenance

11. Proposal for flag pole at front entrance
Board would like to propose the purchase/installation of a flag pole at the 26 Mile entrance of the subdivision
Proposal:
30 foot aluminum flag pole
Brushed satin finish (‘natural finish’)
5’ x 8’ flag
Total, including installation - $1,500
Thoughts?
Proposal for flag pole at front entrance

12. Complaints and Bylaw Adherence
The BoD receives numerous complaints and addresses them on a case-by-case basis
The BoD only addresses complaints pertaining to bylaw noncompliance.
Complaints must be made formally to KT, via to board or on Decora Park website in order for the BoD to address them.
Persistent bylaw noncompliance can result in fees, collections proceedings and even foreclosure
Process = 1) formal complaint made in writing, 2) violation warning letter sent, 3) continued violation letters sent with fees assessed if issue not resolved, 4) unpaid fees go to collections
Please contact KT regarding bylaw questions or complaints By-Laws can be accessed online at decorapark.org!

13. Financial Report

14. Dues Payments & Collections
A quarterly system for paying dues was established in January 2017
Improved cash flow for both homeowners and Association
Gives homeowners the ability to spread out payments
If homeowners do not want to pay quarterly, they can also pay in full Jan 1
Association appointed Makower Abbate Guerra Wegner Vollmer PLLC as its legal counsel for pursuit of Accounts Receivable
Makower Abbate Guerra bills Association for collection services on a fee basis,, which are then charged to account of delinquent owner
Delinquent accounts are sent to the Attorney after balance exceeds $360.
Notices of unpaid balances are sent to delinquent owners with an opportunity to bring account current or propose alternative payment plan before Association transfers account to Attorney for collection.
Makower collected over $23k from delinquent accounts in 2016!

15. Be Proactive
The BoD is always willing to work with homeowners struggling to meet Association payments, past dues and/or late fees.
Please be proactive and remember to contact Kramer Triad in order to have an alternative plan approved by the BoD!
Once accounts go to collections, it is out of our hands.

16. Delinquency Rate Trends
Delinquency rate trending positive!
April 2017 – 23%
April 2016 – 35%
April 2015 – 36%
April 2014 – 32%
April 2013 – 38%
The Association’s goal for delinquency is less than 15% of accounts past due

17. Importance of Collecting Dues and Reducing our Delinquency Rate
Our Association is considered “at risk” when delinquencies exceed 15%
Being “at risk” makes it more difficult for home buyers to obtain conventional mortgages for property in our neighborhood
Healthy receipt of annual dues with proper cash flow is essential to maintaining a positive balance sheet, gives us the ability to properly maintain and repair common grounds and draws good neighbors into our community
The primary goal of the BoD/our Association is to collect dues
If we do not successfully collect dues we cannot do anything else

18. SUMMARY Collections & Delinquencies
Bad debt write-offs
$8,579 written off in 2013
$4,864 written off in 2014
$3,724 written off in 2015
$1,798 written off in 2016
$1,000 budgeted for 2017
There are currently 42 delinquent accounts totaling $12,941.82
In April 2016, Association had 63 delinquent accounts totaling $16,286.
The Association needs to achieve a delinquency rate below 15% and continue to recoup past due amounts in order for the BoD to consider lowering annual dues in the future
SUMMARY Collections & Delinquencies
There are a total of 181 homes in our Association

19. 2017 Budget $64,800 m 181 homes x $360

20. Any Other Business?
Up to this point there has been much discussion regarding topics of old and new business. Is there anything else that homeowners would like to bring up for discussion prior to moving on to elections?

21. Your Time & Talents Are Needed
BoD members are volunteers with busy lives just like everyone else. We do the best we can with the time, talent and resources available to us. Our Association has become much stronger with more defined processes in recent years, however there is still more work to be done. Additional BoD member candidates willing to commit to a constructive, team effort are needed to continue the path of productivity.
Please consider running for one of the open BoD seats!

22. Nominations, Introduction of Candidates & Election of Directors

23. Decora Park Association
May 3, 2017
Meeting adjourned
Thank you!