PRINCETON VILLAGE HOMEOWNER’S ASSOCIATION, INC.

Meeting MinutesDecember 4, 2011

Opening:

The regular meeting of the Princeton Village Homeowners Association, Inc. was called to order at 3:30PM on December 4, 2011 in Palmetto, GA by Robert Montgomery HOA President.

Present:

The following homeowners were in attendance: 16 homes + 2 proxy votes = 18 Total Votes

Charles & Jeannie Knox ~ 500 Princeton Dr // Gloria Real ~ 502 Princeton Dr. // Alfreda Ward ~ 504 Princeton Dr. // Ricky Williams ~ 506 Princeton Dr. // Latanya Carlos ~ 507 Princeton Dr. // Donna Cook ~ 509 Princeton Dr. // Henley Clarke ~ 512 Princeton Dr. // Marie Prosper ~ 501 Rugby Ct. // Eddison Edwards ~ 529 Walnut Way // Kenyatta Carter ~ 531 Walnut Way // Rhonda Levy ~ 516 Princeton Dr. // Kelvin Gilbert ~ 536 Walnut Way // Robert & Charlene Montgomery ~ 543 Walnut Way // Bismark Bhansa ~ 544 Walnut Way // Jacqueline Wadley ~ 545 Walnut Way // Timothy Haner ~ 548 Walnut Way

By proxy: Chakeyma Allen ~ 501 Princeton Dr // Bonnie Davis ~ 547 Walnut Way

HOA Agenda Topics:

Princeton Village HOA, CurrentState / 2012 Budget Planning & Activities
2011 Budget Status / HOA Amendments & Vote

Other:

Christmas Eve Mix & Mingle Festivities

PrincetonVillage Neighborhood Watch

A.Approval of Minutes

The minutes of the previous meeting held on August 7th, 2011 were unanimously approved as distributed.

B.Approval of Agenda

  • The agenda was unanimously approved as distributed by board of directors for this meeting.
  • Reviewed 2011 CurrentState:
  • PrincetonVillage has 29 of 31 homes either owner occupied or leased via an approved permit
  • Public safety issues were addressed within the community; i.e. speed limit and no-solicitation signs, also discussed was the signage posted on Princeton circle regarding unattended vehicles not authorized to park will be towed at owners expense
  • Reviewed Open Issues from last meeting held August 7th, 2011 which included:
  • Insurance for Common Areas –Closed; areas are ensured under a Nationwide policy
  • P.O. Box was established for all inbound communications; Closed
  • Association was successfully registered with the Secretary of State’s office
  • 2011 Budget Status; 2011 Performance Report & Financial Perspective reviewed:
  • HOA currently operating at 81% compliance for 2011 assessments; 6% accounts for 2 vacant homes, and the remaining 13% accounts for accounts in arrears
  • Anticipated Revenue for 2011 prorated fees amounted to $4032.00 of which we collected $3503.61 plus an additional $1278.90 which accounted for new home sales from September to December.
  • Reviewed areas where our self managed HOA provides an immediate relief to the previous management companies $6000 per year management fee
  • 2012 Budget Planning & Activities
  • HOA dues approved for 2012 in the August 7th meeting in the amount of $500 due in full on or before March 1, 2012
  • Anticipated Revenue for 2012 HOA dues amount to $ 13,500 with 100% participation (not inclusive of any new home sales)
  • Note: Late Fees will be incurred on any outstanding balances not received by March 1, 2012. You can expect to receive invoices by February 1, 2012.
  • HOA Amendments & Voting
  • 3 Items were on the ballot for voting during our meeting for amendments to the existing covenants:
  • Article 1 passed with a 15-2 vote

Limit the number of leasing permits from (50) homes to (25%).

  • Article 2 passed with a 15-2 vote

Change the limits for fencing for homes on corner lots.

  • Article 3 passed with a 17-0 vote

Formally agreed to change the name of the association to Princeton Village Homeowner’s Association, Inc.

C.Open Issues

  • Planned activities for 2012
  • Get pool repaired and operational for late Spring early Summer
  • Have utilities turned on in the HOA’s name for the Pool & Tennis court areas
  • Seek regular vendor maintenance contracts for Pool & Common Areas
  • Designate homes and participants for neighborhood watch
  • Turn in paperwork to City of Palmetto for neighborhood watch

D.New Business

  • Committees
  • Board of Directors made a determination to begin establishing committees within our HOA, of which 3 were initially designated for discussion in this meeting. The plan and purpose is to obtain volunteers from within our community who will spearhead activities associated with the given committee. All committee members will report to the Board of Directors. Serving on a committee established within our community is purely voluntary.
  • Initial Committees Established
  • Maintenance Committee: Volunteers: Eddison Edwards & Charles Knox
  • Pool Committee: Volunteers: Kenyatta Carter & Eddison Edwards
  • Fundraising Committee: Volunteers: Bettina Clarke, Gloria Real, Charlene Montgomery, and Kenyatta Carter
  • Other
  • According to the City of Palmetto, we need at a minimum 50% community participation in order to start a neighborhood watch; of those in attendance 100% were in agreement that we should start a neighborhood watch.
  • Received evidentiary proof via theform provided by the City of Palmetto Police Department of our community’s willingness to participate. Homeowners provided full name, address, and contact info which as requested.

E.Agenda for Next Meeting

  • Review any open issues or actions items from prior meetings
  • ReviewHOACurrentState
  • Review additional ad hoc topics as needed

Adjournment:

Meeting was adjourned at 5:30PM by Robert Montgomery. The next general meeting will be scheduled at a later date and disclosed once a formalized agenda has been established.

Minutes submitted by:Tanya Carlos

Approved by:Robert T Montgomery