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Post date: Apr 23, 2018 4:25:35 PM
DEVONSHIRE HOMEOWNERS ASSOCIATION of WAKE COUNTY, INC
2015 ANNUAL MEETING MINUTES
DECEMBER 13, 2014
STONY HILL FIRE & EMS STATION, 7045 Stony Hill Road, Wake Forest, NC
All Board Members were present
Dennis Brennan, President; Dale Lyon, Vice President; Elisa Price, Treasurer; Todd Mower, Secretary; Jose Pietri, Asst. Secretary/Asst. Treasurer
Members present are recorded on the Sign-in Sheets
Of 45 lots, 21 lot owners signed in. 1 proxy was received.
Kohn-Ell Management in attendance was Mike Ellis
Meeting was CALLED to ORDER by President, Dennis Brennan, @ 10:05 AM.
QUORUM was established from the Homeowners present.
Mr. Brennan welcomed everyone, reviewed meeting procedures & agenda
Motion made to approve MEETING AGENDA/ 2nd/ Approved
The minutes of last December’s 2014 Annual Meeting were reviewed by all in attendance.
Motion made to approve 2014 Annual Meeting Minutes as-documented/ 2nd/ Approved
Mr. Brennan presented the President’s Report, highlighting wins for our community and significant board accomplishments throughout 2014
- As of 11/6/14, Devonshire roads have been taken over by NCDOT!
- Thanks to Blanchard and Ilardi families who agreed to easement on their properties in lieu of having Chadwell cul-de-sac relocated. Saved our HOA $44K of road repair expense.
- Significant portion of Capital Reserve has now been funded. Reserve study to be conducted in 2015.
- Devonshire welcomed four new families in 2014. Three new pre-sale homes in process for mid-2015 completion
- Landscape lighting installed by Huntscapes at front entrance in December
- The foundation on Phase I Lot 30 has been cleared and the lot is for sale
Mrs. Price presented the Treasurer’s Report for year-to-date 2014 expenditures and year-end projections vs. 2014 budget.
- $17,851 dues collected in 2014
- Full Year 2014 expenses forecasted to be $1,266 better than budget. Underruns in snow removal & attorney fees
2015 Annual Budget was presented, reviewed, and discussed.
- History of dues was discussed. Dues originally set by developer did not cover operating expenses. Fixed expenses are 83% of HOA budget, with remaining 17% allocated to reserve contributions. Fixed expenses have increased, on average, 4.4% each year since 2009.
- HOA Board does full review each year to determine best dues level for following year to minimize over/under collecting.
- Dues remain unchanged for 2015. For lots with houses that have certificates of occupancy, dues are $450/year. For lots without houses, dues are $225/year.
- Landscaping fees increasing $55/month, but have been flat for 3 years. Snow removal removed from budget due to NCDOT road takeover. $2,000 budgeted for 2015 Capital Reserves.
- Motion made to ratify fiscal 2015 budget as presented/ 2nd/ Approved
Mrs. Price presented a Road Takeover Review and Review
- Road takeover includes Westerfield Rd., Chadwell St., Kalworth Rd., Massimo Dr. and Edinshire St. (up to Kalworth intersection)
-Edinshire stub can be taken over once 2 more houses are constructed on Edinshire. Funds held aside in Capital Reserve for any needed repairs.
- Snow plowing, road maintenance & paving are now the financial responsibility of the NCDOT
- Devonshire was first subdivision in Wake County to successfully call developer road bonds in default and then to have the abandoned roads taken over.
- Reminder that right-of-way (approximately 15’ from road edge) is not owned by HOA members. NCDOT can require that anything installed on the ROW be removed.
Mrs. Price presented a Review of Excess Repair Funds
- Total funding collected for project was $158K. $125K collected in Special Assessment. $32K from defaulted developer bonds. $1K from late fees/interest.
- Total road takeover expenses were $91K, $60K better than budget. ($44K savings due to easement in lieu of Chadwell cul-de-sac relocation, and 10% contingency not being needed)
- Of the $60K under-run, $35K will be refunded to HOA members and remaining $25K to be used to build our Capital Reserves.
§ Refund of $770 per lot, split into two forms. 2015 dues will be automatically paid by HOA and all lot owners as of 11/30/14 will receive cash refund.
· Lots with houses: $770 refund = $450 dues paid + $320 cash refund
· Lots without houses: $770 refund = $225 dues paid + $545 cash refund
§ After refunds, remaining Capital Reserve will contain $5K for future Edinshire St. road takeover expense + $10K for lawsuit preparedness + $15K for common area repairs + $5K for minor improvements
Mr. Lyon, Mrs. Price & Mr. Mower led a General Discussion, focusing on Neighborhood Reminders & Updates.
- Trailer parking request forms can be found on Devonshire HOA website. Parking locations considered so long as they don’t block the flow of traffic and are not within the NCDOT right-of-way.
- Reminder to submit Architectural Review before beginning any project. Must be submitted for any exterior improvement, even if your improvement is in the back yard and/or not visible from road
- Reminder to be considerate of your neighbors and pick up after your dog, even on vacant lots.
- Waste Industries Devonshire 30% Discount: $17/mo for trash + $5/mo for recycling. Rolling recycle cart included. Contact 919-662-7100 and request Devonshire community rate.
- Reflective Address Signs for mailbox have been approved by Architectural Committee for anyone interested. Stony Hill Fire Department strongly recommends these signs to assist emergency responders. Cost = $16. HOA has approved vertical black signs with white letters for installation consistency. Order form & additional details can be found at http://stonyhillfire.org/content/view/55/70/
- Neighborhood Watch mailbox signs available for $15. Contact Elisa Price if interested.
- “Nextdoor.com” neighborhood bulletin board established for Devonshire. Allows neighbors to post general questions, lost/found animals, suspicious activity, items for sale, etc. and enables communication with nearby subdivisions https://devonshirewake.nextdoor.com
- Reminder about our Devonshire HOA website. https://sites.google.com/site/devonshirewakeforest/
- Aqua has scheduled well flush for Phase I utility customers 12/15-12/19
Further General Discussion moderated by Mr. Brennan, President
- Mr. Jay Robbins and Mrs. Kimberly Wall reminded neighbors to watch speed and to stop at the newly installed stop signs as several near-accidents have occurred
- Mr. Robert Moroni highlighted benefit of disseminating utility contact information for new residents
- Mrs. Kimberly Wall initiated discussion of possibility of increasing Devonshire quorum from 10% to 25%. Mr. Mike Ellis confirmed that 10% is the quorum minimum as per NC State Law, and that Quorum dictates what % of HOA members must be present in person or by proxy in order for business to be conducted. The higher the quorum, the more difficult it would be for the HOA to conduct business. Motion made to hold vote on investigating increasing Devonshire quorum from 10% to 25%/ 2nd/ Approved. Vote held. Not Approved. (3 in favor, 19 opposed) Quorum will remain at 10%.
Nominations opened to fill two open seats for 3-year term to HOA Board of Directors. The terms for Mrs. Price and Mr. Mower end 12/31/14. Mrs. Price running for re-election. Mr. Mower stepping down at end of term.
- Nomination from Mr. Kenneth Ramsauer was received in writing by HOA Board Secretary, Mr. Todd Mower, on 12/12/14 indicating Mr. Ramsauer was running for open board position.
- No nominations were received from the floor
- Motion made to accept both nominees by acclimation/ 2nd/ Approved Unanimously by the body present
- Mrs. Price was re-elected. Mr. Ramsauer was elected to the Board.
Motion made to adjourn meeting/ 2nd/ Approved @ 11:40 AM
Minutes respectfully submitted by Elisa Price, Treasurer, as reviewed by the Board of Directors
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