OAK CREEK
HOMEOWNERS ASSOCIATION INC.
Minutes of the
Minutes of the Annual
meeting:
Election of two members to the governing board: Two opening on the board were up for election. Both of the current members: Jim Lee and Tom Hytry volunteered to run again. Since there was no other candidates they were reelected unanimously.
Adam Sarauskas reported that the Oak Creek Homeowners Association ended the year with
$54,396 in reserve (up from $53,275 at this time last year).
Monthly
assessments remain at $75 per month. –
See notice of special assessment below.
After the association annual meeting the board held it first meeting.
Present were all five board members: Ned Hurley, Eric Paetzel, Adam Sarauskas, Jim Lee and Tom Hytry.
Election of board
officers
The following are the new board officers
President: Ned Hurley
Treasurer: Adam Sarauskas
Secretary: Tom Hytry
Club House: The attic in the clubhouse was insulated.
Committee Reports: There were no other committee reports. In your homeowners monthly mailing there will be a form for volunteering for this years committees. The committees do most of the work and make the association what it is. Please help your neighborhood by volunteering.
Special Assessment: Since there was a larger then normal turnout of homeowners (this being the annual meeting) the meeting turned to a general discussion on the direction of the subdivision. The following handout was passed out at the meeting:
Infrastructure Projects
The
Due to the number of individual
projects and the cost of their completion, the Board of Directors has elected
to address these projects in two phases.
The first phase is to include expanding the pool deck on the Winding Creek road side
and installing a new side walk on that side of the pool, replacing the chain
link fencing around the pool, drilling a new
well, repairing several windows, and replacing some of the
exterior doors with good insulated doors ( This in addition to insulating the
attic will significantly reduce our excessive heating and cooling costs.).
The estimated cost for the
completion of phase I is $40,400 . This cost is to be
covered by a special assessment of $450.00 to be assessed in March of 2007.
The second phase to be initiated
in early 2008 will consist of resurfacing the tennis courts and replacing the
existing chain link fencing, resurfacing the parking areas, and repairing the
playground equipment.
The estimated cost of phase II is
$64,000. This cost would again be covered by an assessment of $450.00 to be
assessed in early 2008, along with the use of approximately $30,000.00 from the
current reserves.
Since the dues structure is only sufficient to meet ordinary maintenance and operating needs, the above described assessments are the only means available to deal with major problems associated with infrastructure failure.
After much discussion the board voted 5 to 0 to set a special assessment of $450 for March 1. Most of the funds from this special assessment will go to a new well for the clubhouse/pool. Estimates for the new well are about ~20K. The current well is only 180 feet down and predates the subdivision.
Next Board meeting will be at