Provide RBOA INC Special Meeting RBGC Club House 7:00 PM 14 Nov 2012 RBOA INC Welcome -- thanks for coming Your participation in conduct of RBOA is greatly appreciated 402 members strong Board of Directors, Committees All Volunteers AGENDA CALL TO ORDER QUORUM VALIDATION PRESENTATION ON SPECIAL ASSESSMENT DISCUSSION OF MEMBERS VOTE -- RESULTS BOARD OF DIRECTORS PRESIDENT VICE PRES TREAS/SEC ENVIRONMENT ARCHITECTURE COMPLIANCE MAINTENANCE PAUL MARYESKI AL HABERBUSCH LlNDA BLYTHE BILL PATRICK AL HABERBUSCH FRANK STRASBURGER PAUL MARYESKI* *acting PURPOSE AND POWER OF THE ASSOCIATION “This Association is non-profit, does not contemplate pecuniary gain or profit to the members thereof. The specific purposes for which it is formed are to provide for maintenance, preservation and architectural control of the residential properties and to promote the health, safety and welfare of the residents of said properties.” (Article III of the By Laws) RBOA INC QUORUM VALIDATION 26% of 402 = 105 SPECIAL ASSESSMENT -- REQUIREMENTS 20 DAY MEETING NOTICE TO MEMBERS President Ltr with proxy mailed on/about 19 Oct 12 2/3 RDS OF MEMBERS PRESENT BY PROXY OR IN PERSON NEEDED TO APPROVE TREASURER’S REPORT $44K Annual Program 402 mbrs x $110 Money Mkt: $4,430 Checking: $11,147 Dam Fund: $5,425 ______ $21,002* *as of 30 Oct 2012 RBOA INC Major annual expenses Ground keeping Insurance Landscaping Legal Utilities: power/water $8,000 $6,000 $6,500 $6,000 $5,500 ______ $32,000 LAKE AMICK/PHELPS DAM FAILED/FIXED IN 2010/paid $11k Contract with Utility Solutions Group FAILED AGAIN IN LATE 2011 Different section of outflow pipe Contract with Construction Service Company Decision to replace entire outflow structure Fixed in early 2012/paid $21k SPECIAL ASSESSMENT PURPOSE: TO RECOUP $$ SPENT ON LAKE AMICK/PHELPS DAM REPAIRS $31,960 total for both fixes Sept 2010 and Jan 201 402 x $75 = $30,150 Will “restore” reserve account Carried approx $40k over past several years Safety net to cover emergency expenses Lake infrastructure and/or legal fees Special Assessment Considerations Lakes are a major RBOA expense item Lake Amick/Phelps in 1994 Lake Henderson in 2005: $150,000 $94 assessment for all members 49 of 56 Lake Henderson property members contributed additional $2,000 By Laws do not allow varying assessment levels BOD considering amendment to By Laws Members must approve any proposed assessment CONSIDERATIONS Lake Amick is in Unit 2 of RBCCE There are 19 lakefront properties 11 are RBOA members, 8 are not Lake Werk in Unit 1 is similar RBOA owns the lakes: 5 total Deeded to RBOA from Ruckel Properties Lake Henderson is the largest: 14.5 acres MOA with RBCC: outlines responsibilities Signed in Sep 1994 COVENANT AMENDMENTS UNIT 1 COVENANTS EXPIRE DEC 2013 UNIT 2 COVENANTS EXPIRE SEPT 2013 FOREST ROAD, SHARON, MARION, GOLF COURSE FOREST ROAD, COLLEGE BLVD, DIANE, IRENE CT, CARR, JASON, LAKE AMICK FINAL BOD TRY in Mid 2013 If Fails: several unknown unknowns!! Open Discussion/Results Quorum Reached Total properties represented: 154 105 needed for quorum Assessment approved Votes in favor: 121 Votes not in favor: 33 2/3 properties represented needed for approval: 121/154 = 79% > 66% THANK YOU FOR COMING HAVE A GOOD WEEK!!