Kings Park West Community Association
March 12, 2008 Meeting
In attendance: Joe Meyer, Larry Velte, Jim Messinger, Virginia Scattergood, Dina Gorrell, Mary Hovland
Meeting called to order at 7:37pm.
Approval of February Meeting Minutes: The February 13th minutes were distributed and reviewed. Jim motioned to approve; Virginia seconded. Approved 6-0.
Treasurer’s Report: Jim informed the board that the current balance is $18,870.86 in cash, with 4 CD’s in the amount of $5,000 each that have a locked in rate of 5%. The reserve CD has $5335.59. The cash reserve is $1,002.21. This brings the grand total to: $45,208.66.
See the attached budget chart and information for the latest budget vs. actual. The forecast predicts what the Association will end up paying at the end of the fiscal year. Nine months into the year, the Association has spent about half of the yearly budget.
Jim motioned to move the $2,100 out of the Association’s cash account into the reserve account. Approved 6-0.
Assessment Response: Total stands at 11 outstanding payments owed for 2008 assessments only; with 8 more households owing 2008 and prior year assessments. Several certified “Final Notice” letters were not deliverable; some were bad addresses, others were not picked up. Larry will obtain the originals to determine which ones have good addresses. Total amount of assessments owed is $2,182.00 (including prior year amounts).
Disclosure packets: So far this year 12 packets have been requested, all have been paid except for one.
Special commendation went to the treasurer from the Board for the thorough and accurate reports.
Liens: Eight properties have liens in force for nonpayment of assessments.
Expiring Liens: Three liens are about to expire on households having multiple liens. The earliest liens (filed in 2005) will expire in July, but liens filed in 2006 and 2007 will still be in effect on these households. The legal fees to take foreclosure action in court for each of these three cases could potentially run up to $10,000 to recover approximately $350. Even if the lien has expired, the owner could still be liable for the money and the interest, but as a personal debt.
Mary will investigate what other Associations do to see what the best options are for the Association’s next steps in this process.
Jim motioned to waive approximately $3.60 in late fees on households that paid 2008 assessments in February resulting from the certified mailings. Approved 6-0.
CPAN availability: Rod notified us that most legal firms working with homeowners associations subscribe to this; it links the address to the mortgage holder. The Association would send courtesy copies of the memoranda of liens to the mortgage companies for their records. The mortgage companies would presumably have an interest in clearing the liens and at least provide us with the owners’ true addresses. . Jim and Larry will ask the Association’s attorney, Bob Segan whether he subscribes to CPAN and if it could be used for the purpose described above.
Neighborhood watch report: Nothing new to report.
Parking on Grass: Joe sent the letter mentioned at last month’s meeting, and the car has been moved.
Herald article: The material needs to be adjusted slightly and will run in the early May edition.
Annual Meeting: The nominating committee is working on obtaining nominations for two Board members to serve for three years. Dina Gorrell has declined to serve again; Virginia Scattergood’s one year term is up, and she has agreed to run for another term.
Larry asked RCS Management for the latest address list in order to mail annual meeting post cards but has not received it yet; once Larry receives it, the postcards will be printed and mailed.
Tree Survey/Trash Pickup: There is some debris on the common areas. Members will clean it up before some of the spring growth starts.
Communications from Members: No communications from members have been received.
Hearing no new business, Joe motioned to adjourn; Mary seconded. Approved 6-0 at 8:45 pm.