Laurel Lakes Association, Inc. FY-2018 Community Vision, Mission and Business Plan

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1 Laurel Lakes Association, Inc. FY-2018 Community Vision, Mission and Business Plan

2 Vision Statement The HOA BOD s Vision is to maintain and improve our community and allow Laurel Lakes to be one of the most sought after living areas within Sarasota.

3 MISSION STATEMENT The Mission of the HOA -Laurel Lakes Association is to provide our Members and Residents with a safe, secure, fiscally sound, and aesthetically superior community to enhance our overall quality of life and increase our property values. Our GOAL, is to achieve this mission through open communications, effective and proactive management of our funding resources, people and common areas; enforcement of our rules and covenants; and fiscally responsible solutions associated with present and future projects. VALUE STATEMENT We will strive to meet our mission and goals through honesty, fairness, integrity, listening, common sense, participation, respect, cooperation and transparency in all our actions. Our code of conduct will provide the framework which will enable us to adhere to these values at all times. STRATEGIC OPERATING PILLARS Financial Stability, Safety/Security and Best in Class Amenities

4 Action Items Completed Since January 1, 2018 (1) Completed 3 half day Board workgroup sessions addressing the following: Detailed review of the FY 2018 Budget, Projections, Assessments and Reserve Funding (ongoing). Change BOD Meeting Dates and Times Allowing membership to attend in the evenings. Review and understand all CC&R s: Recommendations for Changes to the current Rules and Regulations (ongoing), Recommendation to Change the Violations Policy to a standard 30, 60, 90 Day Process with a clear identification to events and fines, Ongoing detail review of all current and future projects including: Community Security Lakes Restoration

5 Continued: Action Items Completed Since January 1, 2018 (2) Review and Approval of 2018 Insurances. Develop and improve all communications throughout the membership allowing for a transparent process of information. Developed Committees and descriptions Develop a Business Plan (presentation) explaining changes Discussed Town Hall Meetings and how to ingrate this into the BOD meetings and/or have a separate meetings.

6 Implementation of the Vision/Mission Communications (1) Improve Communications between the Board and the Membership. 1. Current Venus Direct USPS MAIL Laurel Lakes Website ( Membership 2. Under Construction Blog Page Facebook Lakes SRQ) 3. Town Hall Meetings Membership Meetings for presentation of Association information and open dialogue for discussions.

7 Implementation of the Vision/Mission Fiduciary Goals (3) 1. To accurately allocate monies to specific line item accounts, including the Reserve Fund, for all current and future maintenance projects. 2. The budget process will have a detailed budget of the current year and the projected year top line outlook. This will include: The allocation of funds to the Mandatory Reserve Budget each year, pursuant to (Fl. Statute (6).2 e-h), All other income lines will contribute to Surplus, and self funded value added projects. Over the next year we will carry forward any surplus, allocating between Contingency, Amenity and Reserve accounts as financials dictate, We will commit to fiscally conservative ideals without compromise to quality and services.

8 Implementation of the Vision/Mission Fiduciary Goals (4) Continued; 3. All projects will have a budget, timeline and project plan associated with it. These project plans will be evaluated at various checkpoints during the life of the project to track progress and spending. In addition, projects will be evaluated with standard practices and documentation presenting a Return on Investment (ROI) based on longevity replacement periods, if applicable. 4. Place checks and balances in place on all projects, to control costs and timeframes to meet HOA Income Line with Mandatory operating expenses making sure funds are available for any project and the budget stays in balance. 5. A Reserve Study will be completed this year, February, to help us determine costs and the longevity of Common Property maintenance.

9 Implementation of the Vision/Mission Community Safety & Security (3) 1. The Board shall maintain the security of our community at all times by maintaining our gates, cameras, and community center security systems allowing for safe and secure use of the Common Property, 2. Upon membership notification, any identified safety issues will be dealt with expeditiously, by Board or Property Management Company, 3. The Board will continue the process of evaluating the Community Security and upgrade it as necessary, per our Declarations under the Covenants, 4. Any discussion on a large security projects will be in an open forum Town Hall Meeting allowing for an understanding of any changes that will be made to the Community Safety & Security which has a direct impact to the membership.

10 Implementation of the Vision/Mission Community Common Property (4) 1. All Common Property is governed under the Covenants of the Association and hence, the Board will enforce all Rules and Regulations which are posted on our website. (CC&R s) 2. Architectural Standards Review and modify the current Architectural Standards Document, if necessary to meet the current needs of the community, Review the current Violation, Notices and Fines Process and implement any changes as necessary. This includes clarify the written policy and procedure associated with these violations. 3. Whenever possible, we will implement environmental solutions as we strive to be a sustainable/green community, which includes "xeriscape dry-scape (low maintenance) implementation which allows for using less water for irrigation and lower costs for maintenance. 4. We will obtain the best service providers (over best costs if necessary), leveraging preferred supplier principles.

11 Implementation of the Vision/Mission Community Common Property (5) Continued: 5. We will strive to provide aesthetically pleasing grounds and lakes demonstrating best in class amenities for the clubhouse facility, pool, gym and tennis courts, emphasizing healthy lifestyles and activities for all ages. 6. We will assess our amenities and ensure that investments are important to the community, financially feasible, and contributes to increasing property values. 7.. All lakes will be maintained as defined in our Covenants and meet the SWFWMD regulations. 8. Access to all lakes is allowed by any Association Member, their family members and guest accompanied with the owner per our Covenants under Section 7.08 LAKES. There is a 15 ft. private (Laurel Lakes) easement surrounding all lake property allowing for this access. There is a private easement to all property between homes allowing for access as shown on our Community Drawings and plats (see detailed info on next screen).

12 Implementation of the Vision/Mission Community Common Property (6) Lake Access: Florida Statue HOA (1) identifies that all Common Property must be accessible to all owners for use. HOA Covenants Section 7.08 Lakes - States that Owners of Lots, their family members, their tenants, guests and invitees have access meeting State Law. Drawings are identified in Florida Statues HOA (4)(a) that they are Official Records and part of the Declarations. The Covenants define a public easement right-of-way surrounding each lake of 15 feet and confirmed on all drawings. Drawings also demonstrate a public easement right-of-way between each home to the lakes. No Association can create a rule that supersedes the Covenants and the State Laws.

13 2018 Current Projects Entry Gate Paver Project Contractor: Paradise Pavers Engineer: Ardaman & Associates, Inc. Start Date: January 29, 2018 Estimated Completion Date: March 5, 2018 Community Drainage Project (BF & Grazeland) Contractor: CAS Asset Management LLC Start Date: January 29, 2018 Estimated Completion Date: February, 9, 2018 Street Island Project Moved to Under Review

14 Projects Under Review Community Lakes Restoration & Maintenance Project Proposed Contactor: American Shoreline Restoration - Erosion Repair Services, (ASR) Estimated Start Date: FY 2019, Estimated Completion Date: FY 2025, Concerns: Limited funding in the Reserve Funds Under Review, Develop a Project Plan with dates, timelines cost and assessments analysis, Presentation (Town Hall Meetings) to the Membership on decisions and discussions. Community Security Project Contractor: NONE Review the past accrued information by the previous committee, Create or redefine a set of requirements, Develop an RFP for a Competitive Bid, if necessary, Determine cost analysis for Assessment and ROI, Presentation (Town Hall Meeting) to the Membership on decisions and discussions, Create a Project Plan with dates, timelines and cost analysis. Street Island Restoration Review current project and determine if this is cost beneficial, Determine if islands should be xeriscaped to save water and maintenance.

15 Conclusion OPEN FORUM QUESTIONS & ANSWER SESSION