1 / 20

2012 Annual Ownership Meeting

2012 Annual Ownership Meeting. 2012 Board Members. Bill Palmer Tom O’Connell Greg Henderson Judd White Mark Holmes. * Management Team * Geo-Management Gayle and Ed Geoghegan. Linville Gardens Condominium Assoc. Financials. Linville Gardens Condominium Assoc. Budget. LINVILLE GARDENS

ken
Download Presentation

2012 Annual Ownership Meeting

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. 2012 Annual Ownership Meeting

  2. 2012Board Members • Bill Palmer • Tom O’Connell • Greg Henderson • Judd White • Mark Holmes • * Management Team * • Geo-Management • Gayle and Ed Geoghegan

  3. Linville Gardens Condominium Assoc. Financials

  4. Linville Gardens Condominium Assoc. Budget

  5. LINVILLE GARDENS FINANCIAL SUMMARY OF PAVING/CURBING PROJECT 10/31/2012 Cost of Project: Total cost of project: $ 321,327.75 (Barnhill paving & curbs: $ 283,314.00; Support contractors $ 38,013.75) Financial Analysis: Assessment Billed: $ 346,694.00 Early pay discounts: $ 26,894.00 $ 319,800.00 Minus 2 doubtful accts $ 4,636.00 Available funds $ 315,164.00 Line of Credit Summary: ($300,000.00 Line) Amount Used $283,314.00 Balance On Note $ 49,522.09 Interest paid to date: $ 8,056.39 31 owners have elected to pay over 36 months for a total of $75,168.00 to be collected Beginning October, our fixed payment for 36 months is $ 1,539.00. Expected monthly receipts are $2,088.00.

  6. Grounds • Late this past summer we replaced the landscape team. The new crew, Victory Sportsturf, has made remarkable progress with the overall appearance of the grounds. • Multiple applications of chemicals have been applied to accelerate the weed control that had overpowered the turf. Appropriate fertilization for the fall has been applied as well as lime. • We will continue not to over seed so the Bermuda grass can strengthen and also to provide more opportunity to treat for weeds. Areas where the turf was damaged permanently will be addressed in the spring now that the weeds are being controlled. • The shrubs are being maintained at the proper height by seasonal pruning • The beds around the buildings and walkways have been properly edged. Pine straw mulch has been applied throughout the property, front & back. • Irrigation system has been checked out thoroughly, damaged heads replaced or repaired. The system will be routinely monitored by the landscape team. • Crepe myrtles that were added continue to thrive. • Seasonal flowers are being planted in strategic locations.

  7. 2012 Facility Enhancement • Rotten building siding, stairs & trim continue to be replaced • Rotten wood on decks replaced • Painting continues-on track to be completed Spring of 2013 • Crumbling concrete landings replaced as needed • Roofs inspected & cleaned • Repairs & replacements of roofs – on going maintenance throughout the year • Paving & new curbs for parking lot complete • Laundry Rooms 2 & 3 have been painted. 4 dryers and 2 washers will be installed, completing the renovation of all laundry rooms.

  8. Manager Comments • Each owner should have their plumbing checked annually for leaky faucets and/or toilets to reduce water consumption and prevent unnecessary damage. This is extremely important. We have had situations where slow leaks have caused serious damage. • We strongly advise all owners, especially those occupying the second floor units, to turn off the service to their water if they are going to be away for a period of time without anyone checking on their unit. There have been a couple of instances where a leak has occurred and gone undetected, causing severe loss to the owners. The water valves are located in the blue boxes adjacent to the landings. • We strongly advise all owners to review their homeowners policy to ensure they have adequate coverage. A 100% replacement of ALL contents (walls in) policy is recommended. The Association carries 100% replacement of damages walls out policy. • Each owner should have an annual service contract with a local HVAC company. This prevents unnecessary water damage caused by blocked condensation lines. Most companies come out twice a year under such a contract. • Please provide management with a key to your unit. We have had several serious water issues where immediate access was critical. You will be notified if access is required.

  9. Manager Comments Continued.. • Aberdeen Exterminating provides our quarterly service as well as our annual termite inspection. If you are having issues with bugs in your condo, call Aberdeen. You are entitled to one interior treatment per year. • Please advise your tenants that all trash must be bagged. The city will not pick up ANY trash that is not bagged. This is a continual problem and expense to the Association to have the trash closets cleaned out from misuse. Trash is picked up on Tuesday and recycle on Friday. This is not working well for the rental properties. I am working with the City to find a better solution. • Do not feed feral animals on the property. This issue was under control for a while but the feral cat population has one again exploded. • Owners and their guests are reminded to pick up after their pets. • This presentation will be posted on the web site: www.linvillegardenshoa.org

  10. Election of Administrators for 2013 • Gregory Henderson • Mark Holmes • Thomas O’Connell • William Palmer • Judd White

  11. 2012 Meeting Adjourned Thank you!

More Related