Annual Meeting September 29, 2010 River Pines of Farmington Condominium Association.

Annual Meeting

September 29, 2010

River Pines of Farmington

Condominium Association

Welcome…… to the

River Pines

2010 Annual Meeting

River Pines of Farmington

Condominium Association

Agenda

Current Board of DirectorsNominations for 2010 – 2011

Board of DirectorsVotingFinancial statusSocial Committee reportUpdate of annual projects

Agenda (Cont’d)

Update of Reserve ProjectsSecurity camerasAssociation governing

documentsDeck standards now availableYour overgrown shrubberyQuestions

Current Board of Directors

Ed LeFevre PresidentDonna Jones Vice

PresidentTom Cornell TreasurerGene Kerwin SecretaryShirley Niesyto DirectorJoyce McFadden DirectorBob Eix Director

Directors Positions to be Voted

Donna Jones ResigningTom Cornell 3rd TermShirley Niesyto 2nd TermJoyce McFadden Resigning

Nominations for the Board

Janet HallPaul Pardee

Financial Status –

Operating Budget -Budget $1,128,523Spent (8/31/10) 711,760Committed 365,280Balance $ 54,553

Approximately 4.8% to be spent

Financial Status –

Reserve Fund -Planned $609,301Spent (8/31/10) 406,309Committed 173,096Balance $ 29,895

Approximately 4.9% to be spent

Social Committee Report

Sharon Hicks will bring you up to date with the activities of the Social Committee

Annual Projects Report

Each year our project planning and implementation is getting better.

Our Site Manager, Bob Goodman is following all our projects and his attention to details is one of main reasons for our success.


Our Administration and Finance Manager, Julian Yakimowich is participating in the planning and following the cost part of the projects making sure our costs are tracking our planning..


We are maintaining a “Commitment Ledger” for both the operating budget and the reserve plan. This effort keeps our attention on the budget and planned expenditures…… preventing surprises at the end of the year.


Work Orders –So far this year we have processed over 825 work ordersWe spend approx. $100,000 doing the repairs requested


Work Orders –The top 6 areas of expense – Windows Tree removal Gutters and downspouts Basement repairs Roof repairs Garage door repair


Painting – We spent a little more for painting this year because we applied (2) coats of stain to all units.We are finding that window sills are requiring touch up after (3) or (4) years.


Painting – Earlier this month, we checked and repainted 310 window sills on units that were painted in 2006 and 2007Of course this has increased our overall painting cost but we are trying to keep up the appearance of our units


Roof Replacement –


Roof Replacement – We have replaced (26) unit roofs this year plus the pump house roof and spent $167,481.Approx. $6,450 per unitAverage roof life = 14 yearsWe expect 20 to 25 years from our new roofs


Roof Replacement – Based on the (14) year roof life--

$40 of your dues goes to the reserve fund every month for roof replacement

We have (97) roofs remaining to finish the Phase I project


Window Repair & Replacement In 2009 we spent $102,237 repairing and replacing windows. So far we have spent and committed $43,248 and we expect to be $10K to $20K under our cost projection ($77,000).


Window Repair & Replacement We are replacing the lower window sash and sill with PVC materials that should never need replacing again.


Irrigation System - We have pumped a little over 9 million gallons of water through the month of August.

We expect to pump less than 10 million gallons …..a little less than last year.


Irrigation System - The pumping and well system has operated flawlessly all summer.

Our sprinkler system repair costs are down about 50% from 2009.

Reserve Projects

We have (45) specific line items or projects in our reserve plan. Garage doorsGarage lightsGrading around unitsGutters and downspoutsRoof replacement Phase I & IIBrick inspection and repairUnit painting

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Reserve Projects

Projects (Cont’d). Unit sidingWindow and door replacementDeck replacementDeck stainingAsphalt road repair and replacementConcrete driveway and sidewalk repair

and replacement

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Reserve Projects

Projects (Cont’d). Catch basin repair and replacementTennis court fence replacementTennis court surface painitingTennis court surface repair and replacementTree replacementMulching tree and shrub beds

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Reserve Projects

Projects (Cont’d). Chimney cap replacementReserve Study updatesConsolidated Master DeedSecurity cameras for entrances

All of these projects require time for planning, scheduling and implementation.

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Reserve Projects

Over the next 30 years we are planning projects that are estimated to cost over $25 million

The following chart shows our projected spending and the resulting reserve fund balance

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2010 Reserve Fund Update 5Spending vs Reserves Balance

December 2009

$0

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35Years

Fund Balance

Spending

2005 203020202010 2040

Reserve Projects

Our fund balance begins to climb upwards due to the completion of Phase I Roof Replacements and the Trim Board project.

Contributions to the reserve fund increase every year at a rate of 2.4%.

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Asphalt Paving Project

We inspected our asphalt roads again this year and find that we have very little repair work to do other than crack sealing

Aggressively going after deteriorating asphalt in previous years is paying dividends

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As we have maintained the road surfaces we have been paying attention to the appearance and the surface of our roads

Since River Ridge Trail is one of the oldest streets within the complex we considered resurfacing a portion this year

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The repaving consists of milling 2 inches off the existing asphalt…… then installing 2 ½ inches of new asphalt and then compacting it

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River Ridge Trail is about ¾ miles long and we have about 1,800 ft that has several patches and is somewhat rough and unsightly

We have repaved 1.000 ft this year at a cost of approximately $30,000

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In 2011 we plan to repave another 800 ft of River Ridge Trail

We will also consider paving approximately 800 ft of Blue Spruce in either 2011 or 2012 depending on the condition of the street

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Scheduling and the inconvenience to co-owners is always a concern but the end result seems to worth it

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Security Camera SurveillanceWe have experienced at least (3) break-ins so far this year

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All the break-ins have happened during the middle of the day

Security Camera Surveillance.

Although we cannot stop them we felt we could provide a deterrent

http://www.apexcctv.com/c-52-weatherproof-security-cameras.aspx

Security Camera SurveillanceWe recently installed security cameras and

put up signs indicating the site is under surveillance

We intend to record all incoming and outgoing traffic………… 24 hours a day

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Security Camera SurveillanceWe do not want to provide a lot of details

regarding how the system works for obvious reasons

If you lock your front door and put up a sign “Key is under the Mat” you will probably get unwanted visitors

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Security Camera Surveillance

Last week we discovered someone damaged the flower bed at the front entrance.

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We contacted the Farmington Hills Public Schools and talked with their Transportation Office.

The following day they advised the driver was a “new driver”

They agreed to cover the cost of the repairs

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We think the mere fact we have surveillance cameras may be enough to discourage the burglars

Time will tell…………

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Association Governing Documents

There are (3) governing documents in a condominium associationThe Master DeedCondominium BylawsBoard Rules and Regulations

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These documents define:The associationEstablish the responsibilities of the association and the

co-owner

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We have many new co-owners and others that have been members of the association for many years

Take the time to read these documents so you know what you can do and what you cannot do

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All co-owners must have a copy of these documentsYou were given a copy of these documents when you

purchased your unit

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Replacement documents can be obtained from our Web Site at:

www.riverpinescondominiums.com

You may also obtain a copy from McShane and Associations

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Living in a condominium is different that living in a private home

Many things you would do in a private home require approval of the Board of Directors when living in a condominium

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Approval by the Board of Directors is given in writing and getting an “OK” from a board member is not “board approval”

To be safe……..Submit a Modification Request and obtain board approval

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By the end of this year you will be receiving…………….

A Consolidated Master Deed with updated drawingsThe Amendment to the Bylaws regarding FHA

certification

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You have already received the Board updated Rules and Regulations

This information will also be on our web site as soon as it is available

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River Pines Web Site

www.riverpinescondominiums.com

Remember to check our web site.

This site is provided for your benefit and is a great source of information

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http://www.riverpinescondominiums.com/

Overgrown ShrubberyMany co-owners planted shrubs, bushes,

flowers, etc. when they moved in years agoIn most cases they are watered and tended to

with great careThey have grown over the years and in some

cases they are overgrown and unsightly.

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Overgrown Shrubbery

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Overgrown ShrubberyShrubs in this condition make it very difficult

to paint unitsVines climbing the brick wall attach to the

mortar and actually deteriorate the mortarIt takes time but eventually the mortar is

compromised.

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Overgrown ShrubberyWe ask that co-owners take care of their

plantingsIf you are a new co-owner and the plantings

were there when you purchased your unit…… these plantings are still yours

You can remove them if you do not want to maintain them

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Overgrown ShrubberyIf the association has to remove them the

cost will be billed to the co-owner

So, please help us and keep things trimmed and neat.

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Deck Contruction StandardsDeck construction stardards have been

developed and are available on the River Pines web site

These standards provide step by step instruction for constructing or modifying a deck

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Deck Contruction StandardsCall McShane Management for a copy of

the deck standards if you do not have access to the Internet.

McShane will provide both the Modification Request forms and the Deck Construction Standards upon request

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Deck Contruction StandardsAll deck construction and replacement of

deck boards require a building permit from the City of Farmington Hills Building Department

All deck construction and replacement of deck boards require a Modification Request and approval from the Board of Directors

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Questions

Hopefully we have provided all the answers to your questions…. but just in case we have not…. we will open the meeting now for your Questions--

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Meeting AdjournedWe trust this has been an

informative evening…………

Drive safely going home……..

Good Night

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Annual Meeting September 29, 2010 River Pines of Farmington Condominium Association.

Documents

Transcript of Annual Meeting September 29, 2010 River Pines of Farmington Condominium Association.