Inspiration Metropolitan District - Board Historic ... · The Inspiration Metropolitan District...
Transcript of Inspiration Metropolitan District - Board Historic ... · The Inspiration Metropolitan District...
Inspiration Metropolitan District - Board Historic Timeline
Executive SummaryMilestones/Events
1) Governance 2015 2016 2017 2018 2019Board Composition
Newland Board Members 0 5 4 2 2Previous Developer Board Members 5 0 0 0 0Resident Board Members 0 0 1 3 3
# BOD Meetings Held (Scheduled & Special Meetings) 5 7 6 12 Estimated 8
2) Resident/Builder Metrics 2015 2016 2017 2018(Budget Estimate)
2019
INSPIRATION COMMUNITY HOMES
# of Annual Closed Resident Homes 35 17 135 198 149Previous Year Annual Cummulative Resident Homes 217 252 269 404 602Total Inspiration Resident Homes Sold 252 269 404 602 751
(30% built out) (40% built out)
Note: # of Annual Resales 14 11 12 15 17Note: Closed Hilltop 55 Resident Homes 0 48 108 225 320
# Builders - All Ages 3 4 5 6 6# Builders - Hilltop 55 1 1 1 1 2
3) Developers of Inspiration (formally known as Rockinghorse) 2015 2016 2017 2018 2019Newland (NASH Inspiration, LLC) Summer of 2015 Present Present Present PresentWheelock Street Capital (January 2014-Summer of 2015)
Lennar (2008-2015)
4) Operational Metrics 2015 2016 2017 2018 2019Pathfinder Park 1 1 1 1 1
# Building Facilities Own/Maintain - Inspiration Club and Hops Garden (see attachement) 0 1 2 2 2
Neighborhood Activity Center (NAC) 0 0 0 0 1
5) Growth in Lifestyle Events & Communiation 2015 2016 2017 2018 2019
Lifestyle Events 4 8 19 105 151
Welcome Letters N/A N/A At Closing At Closing At Closing
Emails Periodic Periodic Periodic Bi-monthly Weekly
Mailed Newsletters Quarterly Quarterly Quarterly Quarterly Quarterly
District Community Informational Meetings N/A N/A N/A 1 4/year
6) Key External Professionals 2015 2016 2017 2018 2019
District Management Company CCMC CCMC CCMC CCMC CCMC
Accounting Firm Simmons & Wheeler Simmons & Wheeler CliftonLarsonAllen CliftonLarsonAllen CliftonLarsonAllen
Audit Firm Yanari,Watson, McGaughey Watson Coon Haynie & Co. Haynie & Co. Haynie & Co.
Legal White Bear White Bear White Bear White Bear White Bear
7) Management Company - CCMC 2015 2016 2017 2018 2019
Porfolio Manager 8 hrs./week - offsite 8 hrs./week - offsite
District Manager
Starting in Nov of 2016: 24
hrs./week - onsite24 hrs./week - onsite 24 hrs./week - onsite 40 hrs./week - onsite
Lifestyle Director Est. 520 hrs./year - onsite Est. 520 hrs./year - onsite Est. 520 hrs./year - onsite 500 hrs./year - offsite
Mainteance Tech 10 hrs./week 24 hrs./week
as of 5/20/2019 Page 1
Inspiration Metropolitan District - Board Historic Timeline
Executive Summary8) Major Contractors 2015 2016 2017 2018 2019
Common Area Landscaping Cox Landscaping Cox Landscaping BrightView Landscaping BrightView Landscaping BrightView Landscaping
Common Area Sidewalk Snow Removal Cox Landscaping Cox Landscaping BrightView Landscaping BrightView Landscaping BrightView Landscaping
Pool Maintenance N/A Perfect Pools Perfect Pools Perfect Pools Perfect Pools
9) Formally Established Resident Committees 2015 2016 2017 2018 2019
Social Committee X X X X X
Common Area and Landscaping Committee X X X
Residential Improvement Committee X
Finance Committee X
10) Resident Annual Operating Fees 2015 2016 2017 2018 2019
Annual $ Operating Fees Inspiration Metropolitan District $576 $576 $1,008 $1,008 $1,152
Annual $ Assesment Inspiration Community Association - Hilltop 55 Residents Only No Homes 792 $792 $840 $864
11) Financial Metrics (Source - CCMC & Annual Audit) 2015 Audited 2016 Audited 2017 Audited 2018 Unaudited 2019 Budget
Annual Total Operating Revenue $289.2 Thousand $511.6 Thousand $767.8 Thousand $1,258.3 Thousand $1,533.9 Thousand
Excess Revenue or Expenditure Surplus/(Deficit) $8.5 Thousand ($1.8) Thousand $44.0 Thousand $276.2 Thousand $89.2 Thousand
Developer Annual Advances $8.4 Thousand $45.6 Thousand 0 0 0
Reserves 0 0 0 0 TBD
Total Long Term Debt Oustanding Year End $48.9 Million $49.8 Million $62.2 Million $64.9 Million TBD
District Mil Levy
Debt 50 50 50 55.288 55.277
Operations 10 10 10 11.055 11.055
ARI 1 1 1 1.105 1.105
Additional Information Available
See Attached Exhibit 1 for Additional Information
The Inspiration Metropolitan District Board Historic Timeline Executive Summary (the “Summary”) is presented for informational purposes only. All numbers and figures are approximate and based on the most recent information as of May 3, 2019. The Summary does not present
any binding obligations or promises on the part of the Board of Directors of Inspiration Metropolitan District, any consultants or contractors, the developer, any homebuilders, or anyone else associated with the Inspiration development.
as of 5/20/2019 Page 2
Exhibit 1
The Inspiration Metropolitan District Board Historic Timeline Executive Summary (the “Summary”) is presented for informationa l purposes only. All numbers and figures are
approximate and based on the most recent information as of May 3, 2019. The Summary does not present any binding obligations or promises on the part of the Board
of Directors of Inspiration Metropolitan District, any consultants or contractors, the developer, any homebuilders, or anyone else associated with the Inspiration
development.
Page 3
Governance
Newland Board Members
Sandi Thomas, President January 19, 2016 – May 2022
Lindsey Linkow, Secretary July 26, 2016 – May 2022
Resident Board Members
Aaron Curtiss, Vice President/Assistant Secretary July 25, 2017 – May 2020
Dennis Colwell, Assistant Secretary February 7, 2018 – May 2020
Holly Svetz, Treasurer August 27, 2018 – May 2020
Resident/Builder Metrics
Builders – All Ages
CalAtlantic
David Weekley
Dream Finders
Lennar
Meritage
Richmond
Builders – Hilltop 55
Toll Brothers
2nd builder will be announced in 2019
Operational Metrics
# Building Facilities Own/Maintain
Pathfinder Park
o Includes: Playground, 2 Tennis Courts, In-line Skating Rink/Basketball Courts, Soccer Field
Inspiration Club (Opened in June 2016)
o Includes: Pool, Playground, Pavilion with Fire pit and Grill, and Event Lawn
Hops Garden (Opened in September 2017)
o Includes: Pavilion, Fire pit, Community Area with Tables, and Ping Pong Table
Lifestyle Event Summary
Event Type 2018 2019 Projected
Signature Events 4 4
Special Events 5 7
Community Connection 94 136
Common Area Committee (CAC) Events 2 4