Beaumont Park Townhome Owners Association, Inc.

Meeting Minutes

January 15, 2016

Present: Lisa Jackson, Bob Leggett, Viki Martorano, Martin Woodford

Minutes from Jan 3, 2016 meeting approved; copy will be sent to Michael Orsinelli, Andover Property Management

Community Liaison/Rep.Bob Price appointed liaison to other HOAs in Beaumont

Common Areas v. Areas of Common ResponsibilityHOA is responsible for common area: building structures, roofs, driveways, as well as certain improvements on areas of common responsibility. Fences are common responsibility which meanHOA must maintain, but Board can decide to relinquish control; Grass inside fence is common responsibility, but low cost and good will is support for HOA to maintain.

Insurance Review/Meeting Prep

  • Monday, Jan 11, walk-through neighborhood with a representative from Neace Lukens. They would like to submit a bid and will be gathering information to complete a bid for the submission process.
    Concerns and needs talked about; discussed options
  • Current 29M – too much
  • Need earthquake
  • Need D & O
  • Received a quote for D & O insurance from Neace Lukens Agency - documents loaded to Google Drive. $1000 free standing. Agent is
  • Commonwealth Insurance,an independent insurance agency in Louisville, expected to submit bid week of Jan 18. D & O $400 w/HOA policy
  • Bob Price contacted two people about insurance, both with Travelers
  • Lisa Jackson contacted Clint Conrad, State farm. He is a homeowner.

After bid in, Board will be able to get a start on budget

Reserve Study Cost is $5000 which HOA doesn’t have at the moment. Will wait until have Property Manager; Need to include in budget

Transition Update

  • Hopefully transition will be complete in a few weeks.
  • Martin talked to Robert Ryan, attorney of record, and all is good
  • Have received owner contact informationfrom Mike Orsinelli but it is incomplete. Martin will work on. Mike will send transitional email to homeowners
  • Homeowner email address will make it possible for Board to meet via email; Best practices document will be provided to homeowners with the email
  • Anticipatein-person quarterly meeting by spring?

Financial

  • Current budget can carry over;budget is calendar year so need new for 2016-17 ready by Oct; Everyone needs to review budget for discussion at next meeting
  • $1700 in checking
  • $9750 in reserve; basically this is used for delayed spending

Concern: flat roofs on original homes are reaching end of life cycle

Discussion: HOA assessment will need to be raised; but how much? Will need reserve study to help determine this

  • 85% homeowners pay monthly; 15% pay multi months
  • As year started in Jan, 15% folks have not been contacted about assessment, Mike Orsinelli will do soon
  • Financially, HOA is probably ok through Feb
  • Andover management is charging $600/month; they are still handling receipts of dues and paying of bills
  • Mike Orsinelli
  • will provide signature information to Martin; Bob Leggett recommend three Board Member with signatory rights
  • will be submitting corporate documents to state(?) for HOA
  • has all legal doc; will be submitting balance sheet, etc. to Martin monthly
  • HOA should have multi-year contracts with cap on next year rate (allow extenuating circumstances)

Property Management search committeeLisa, chair; Bob Leggett

  • CMA is property manager for Beaumont HOA. Lisa will contact them as well as Mike Orsinellifor proposals; Will ask for proposals from two other companies
  • Will make recommendation to Board at next meeting

Financial committeeMartin, chair; Bob Price

Insurance committeeViki

Landscape (ad hoc)committeeMartin

Snow removalnew contract for 2016; due to the cost, Bob Leggett will ask company to call him before they do removal

Next MeetingJan 31,4pm, at Martin’s