SUMMIT PARK ESTATES HOMEOWNERS ASSOCIATION

Annual Meeting

August 23, 2014

Grace Lutheran Church, Boone, NC

 

The meeting was called to order by President Bob Keen at 10:09 am.  He announced that this would be his last meeting as president and summarized major accomplishments realized during his term of office. He expressed special thanks for the service of Marshall and Betty Womack in the office of treasurer for the HOA in serving as board members and to Charlie and Susie Wilson for their service on the board of the HOA. 

Keen then turned over the meeting to Ed Marsh as facilitator and thanked him for his service on the board.

Marsh asked to Secretary Huntley to certify that a quorum was present.  Secretary Huntley certified that a quorum was present.

 

Marsh introduced the current board members, the nominating committee, and the road committee.

 

Marsh announced three items for action at this meeting: approval of the 2013 annual meeting minutes, approval of the proposed 2014-2015 budget, and the election of officers and directors for the HOA.

 

It was moved and seconded to approve the 2013 annual meeting minutes.  The motion carried.

 

Marsh reported that the reserve fund for roads has reached a total of $100,000.00 and indicated that Michelle Joyce, if elected, has offered to work to establish a goal for the reserve fund to be presented by the new board at the 2015 annual meeting.  Marshall Womack then presented the report of the road committee.  The members of the committee are Wes Starnes, Gary Long, and Marshall Womack.  The committee does not have authority to expend funds which have not been approved by the board of directors.  The committee makes recommendations to the board.  The committee conducted research on snow removal services and recommended no changes to present practices regarding snow removal.  Emergency repairs were investigated and recommended at the intersection of Summit Creek Trail.  The total project was a little over $13,000.00 and was approved by the board as recommended and funded by the 2013-2014 budgeted funds.  The committee has also reviewed present road conditions and made recommendations on four minor items that will be completed after the 2014-2015 budget is approved.  There are major repairs needed at the entrance to the subdivision on Grandview Drive.  The committee has two quotes for this work.  The proposed budget includes $15,000.00 for this work.  The intent is to complete this work by late September 2014. 

 

Janet Gaskins presented the report of the treasurer and the proposed budget for 2014-2015.  She reported that the HOA spent $10,200.00 this past year on snow removal.  This figure includes trimming.  After spending funds on emergency repairs, the HOA put over $24,000.00 into the reserve road fund.  That fund has now been transferred to a certificate of deposit for greater earnings.  Expected income for 2014-2015 is $57,150.00 with estimated expenses of $43,150.00.  That will generate an additional estimated $14,000.00 for the reserve fund.

 

It was moved and seconded to approve the 2014-2015 proposed budget.  The motion carried.

 

Marsh recognized Bob Keen’s service as president of the HOA and the significant improvements that have occurred during his tenure on the board.  The associatlon expressed its appreciation for his leadership with a round of enthusiastic applause.

 

Kileen Kaufman then presented the report of the nominating committee.  The following persons were nominated to serve until the 2015 annual meeting:

 

President and Director – Michelle Joyce – 8608 Bell Grove Way, Raleigh, NC 27615 – (919)870-8402; 300 Summit Park Circle, Boone, NC 28607

 

Vice President and Director – Janet Gaskins – 3201 Old Chapel Lane, Charlotte, NC 28210 – (704) 733-8138; 122 Cloud Nine Drive, Boone, NC 28607

 

Secretary and Director – Harvey Huntley – 1270 Grandview Drive Ext., Boone, NC 28607; (803) 361-1430

 

Treasurer and Director – Ben Collins – 2700 Belvedere Ave., Charlotte, NC 28205 – (704) 622-9139; 1391 Grandview Drive, Boone, NC 28607

 

Director at Large – Joe Rowe – P.O. Box 2610, Hickory, NC 28603; (828) 638-4000; 216 Summit Park Circle, Boone, NC 28607

 

There were no other nominations from the floor.  It was moved and seconded to approve the nominations by acclamation.  The motion carried.

 

Marsh then turned the meeting over to Michelle Joyce for any other items of business.  She expressed appreciation again to Bob Keen for his service as president and a member of the board.  She invited members to shard any new issues that need to come before the association. 

 

Jack Caracuzzo expressed a strong interest in having the power lines buried in the subdivision. 

 

Tom OBrien asked about a membership list and its availability.  Janet Gaskins reported that she has an updated list she wants to confirm for accuracy of information.  She promised that the list will be sent by email to all the members. 

 

A question was raised about participation in the association dues.  Gaskins reported that there is 100% participation.  There was brief discussion about the necessity of limiting the reserve fund.  Michelle Joyce indicated the board will study this matter carefully.

 

A question was raised about putting a sign at the entrance to the subdivision concerning icy roads and the liability of the HOA for injuries due to icy conditions.  The HOA has a $2 million insurance policy.

 

Ben Collins stated that the HOA financial assets add to the value of all properties in the subdivision.

 

There was some discussion regarding the appropriate level of the road fund.  The clear sentiment expressed by members who shared opinions on the matter was to continue adding to the road fund by means of current HOA dues rather than face a special assessment in the event significant future road repairs are required.  Michelle Joyce reiterated the intent of the new Board of Directors to research the matter and make recommendations at the 2015 annual meeting.

 

Marshall Womack raised a question about the continuation of the road committee.  Michelle responded by asking the committee members to continue serving for another year.  She will ask the board of directors to make that appointment.

 

Michelle also requested a meeting of the new board with outgoing members.

 

There being no further business, the meeting was adjourned at 10:58 am.

 

Respectfully submitted,

Harvey Huntley, Secretary