Emerald Lake Condominium Association
Board of Directors Meeting Notes
Tuesday, December 2nd, 2014 @ 7 PM
Okemos Senior Center/ Chippewa Middle School
4000 Okemos Road, Okemos, MI 48864
The meeting was called to order by President Szur at 7:00 p.m.
BOARD MEMBERS PRESENT: Janice Szur, Harvey Zuckerberg, Ginny Reid, Cindy Hughey, and Michael Bobinski
MAPLEGROVE STAFF PRESENT: Keven Kiefer
CO-OWNERS PRESENT: See attached document for sign in sheet
President Report: Janice Szur
Introductions
President Szur thanked both the board and Maplegrove staff for their various efforts. Additionally, President Szur discussed forming committees and took volunteers to sit on said committees:
- Architectural Review Committee: Eldon Clark
- Lake Quality Committee: Marg Cook
- Road Committee: Robert Caltrider
- Marketing/Website Committee: Debby Starns
- Landscaping Committee: Lowell Spotts will sit on the committee, but will not chair the committee
Reserve Study Findings
In 2008 a Reserve Study was completed that gave recommendations for what the association should be collecting for dues. Due to the recommendation not being followed, the association is short in dues and will have to come up with a plan of action to remedy the situation. More information will be presented in the budget report.
Updates
New companies have been hired to replace current landscaping and snow removal vendors. Additionally siding issues are being addressed as we move forward in re-siding units.
Sump Pumps
There are only four sump pumps that are unaccounted for—the rest of the sump pumps were removed and nine more will be replaced. The four unaccounted for units are:
5267 E. Hidden Lake / 5271 E. Hidden Lake / 5249 E. Hidden Lake/ 5270 E. Hidden Lake
Budget Report: Cindy Hughey
Budget Presentation to Co-Owners-December 2, 2014
This board has inherited serious deferred maintenance issues coupled with a budget unable to meet its expenses. Current funding of dues plus the additional $100/mo assessment has only covered the annual operating expenses-not the income necessary to handle the scope of the maintenance projects. As a board we have reviewed every option and studied all the maintenance needs, listened to the requests of co-owners, and feel we have approved a budget and maintenance schedule that will bring our property back to the condition that will please everyone.
The 2015 budget reflects the same annual dues as last year and includes administrative, utility, and maintenance expenses similar to 2014 with no unusual increases expected.
The grounds category reflects the costs of our new landscape and snow removal contractors. We were able to secure pricing at roughly the same overall costs we have been paying for the last five years.
Taxes and Insurance costs again are estimated to be the same as in 2014.
Moving down to the Reserve Income and Expenses, our Association boards have been levying special assessments for at least the past ten years with no end in sight, since the escalation of needed repairs has outstripped preventive maintenance schedules.As a result, and based in part on our analysis of the Reserve Study prepared in 2008, we have developed a three-year plan to stop the hemorrhaging and restore a healthy condition to the Association’s properties and budget. The Board has approved an increase in the assessment to $160/month for the next 3 years to complete deferred maintenance projects and increase the reserve account to a healthier balance for future maintenance issues. According to our calculations, no assessment should be necessary after this 3 year period as all maintenance issues will be on a regular cycle again. Any surplus income from our 2014 and 2015 operating budgets will also be put in the reserve account.
The projects to be completed next year include 15 units to be remediated for wood rot, the street replacement of Emerald Lake Drive, 1 roof replacement on Sapphire Lane, tree canopy trimming and the removal of 55 dead trees.
As you can see in the 2016 budget we are planning to begin the driveway replacement cycle-doing 10 driveways per year, continuing wood remediation of 18 units. Golden Circle is the last street to be replaced and is scheduled in 2016. And finally, in 2016, we will be replacing 2 more roofs on Sapphire Lane with 10 left to be replaced through 2019.
Working with Maplegrove and their staff we have developed this proposed maintenance schedule for future projects:
Project / Began / To Be Completed / Next CycleWood Remediation / 2011 / 2018 / 2030
Street Replacement / 2012 / 2016 / 2042
Roofs / 2002 / 2019 / 2027-2049
Tree Canopy Trimming / 2015 / 2015 / 2019
Driveway Replacement / 2016 / 2030 / 2031
Painting Outside of Units / 2011 / Ongoing every 7 years / 2017
Co-Owner Comments
Wrapping It Up
There is still frustration over how work orders are communicated. The board will take this feedback and work with Maplegrove on continuing to improve upon the issue. Keven will follow up with co-owners who reported issues. Co-owner responsibilities will also be added to the website.
President Szur adjourned the meeting at 8:30 PM