THE RESERVE AT KNOLLWOOD PUBLIC MEETING MAY 17, 2017

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1 THE RESERVE AT KNOLLWOOD PUBLIC MEETING MAY 17, 2017

2 AGENDA 1. President s Report Kelly 2. Anyone wishing to speak to the board (3 minutes per person) 3. Presentation by the Board on the Roads 4. Treasurer s report Brian 5. Gate Committee Report -- Dane 6. Architectural Control Committee report Jason 7. Adjournment

3 PRESIDENT S REPORT 1 New Board Member Andrew Gorsch 2 Many thanks to the Road Committee 3 It s Springtime and people are out and about Please remember the speed limit in the neighborhood is 25 MPH. Everyone should stop at Stop Signs Please watch for children, parents and pet walking in the neighborhood For Pet Owners, please pick up after your pets 4 It s Springtime and many people are thinking about home projects Please remember projects need to be approved by the ACC 5 The board has extended the Contract with Foegley for 2 additional years at a price increase of 1% (total).

4 ROAD DISCUSSION 1 Road Committee Richard Wolfe (Chairman) Andrew Gorsch Dave Waczak Dave Horein Brian Davis Kelly Sweeney 2 Road Committee had several meetings, provided some significant analysis and made a recommendation to the board to replace all of the Roads in the neighborhood. 3 The board took this recommendation and began an in depth analysis to discuss the feasibility of replacing all roads

5 DECISION FOR REPLACEMENT ARS road repairs are holding nicely ARS road repairs are not holding (we have a warranty) 3 Winter Freeze/Thaw was worst in season 4 Roads are continuing to deteriorate 5 Oil and road materials are at all time lows 6 Interest Rates are still at low levels 7 March 2016 Survey stated 68% of respondents would be willing to pay to have the roads improved. 8 Number 1 Complaint from Residents 9 If roads are done it will increase the perceived value of the neighborhood.

6 REPLACEMENT COSTS 1 All Roads except 3 Culdesac s on Old Post to be resurfaced 2 3 Culdesac s on Old Post will be seal coated 3 Total Cost $520, Cost includes 3 years of Crack Seal 5 Borrowing $275, from First Source 6 May 2017 Special Assessment of $ May 2018 Special Assessment of $ May 2019 Special Assessment of $500.00

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8 BAILEY ASHPALT 1 Based in Niles Michigan 2 Will have a Performance Bond 3 Has Commercial Liability, Commercial Umbrella, Workman s Comp and Commercial Auto Liability. 4 Will mill and pave at a depth of 2 inches 5 Sweep entire Road after Milling 6 Liquid Tack will be applied just before paving 7 2 inch layer of asphalt over milled with HMA 36A mix 8 Bid includes 3 years of crack seal. 9 Year 4-5 surface should be sealed: 10 With maintenance road should last 15 years

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10 ROADS TIMELINE (SUBJECT TO WEATHER) 1 1 Road Milling will take 3-5 business days July Roads can be driven on after milling 2 Paving will take business days-starting July 20 3 Sections will be paved at one time. Schedule is being devised currently This will require sections of roads will be closed daily This is important to have a hot seam between the 2 sides of the road Once new asphalt has been laid the road will need to be closed for hours. The longer cars stay off the road the longer the road will last. 1-2 entrances will be open at all times. No Paving done on weekends

11 ROADS TIMELINE (SUBJECT TO WEATHER) 2 1 Residents may need to park cars on streets overnight Local Law enforcement will be notified and ask to watch the area. Kelly is looking into paying off duty police officers to watch the neighborhood 2 Communication updates will be via Facebook, the website and Street Leaders. Street Leaders are needed to help spread updates via mailboxes etc. 3 Patience is asked during this process

12 SHARED RESPONSIBILITY 1 Need to Alert Fire, Police and Ambulance Check/Notification of any Shut ins Notify Fedex, Post Office and UPS Notify Landscapers and workers Sprinkler systems need to be shut off. Road closures will be marked (Day and night) 2 Paving 5 days Starting July 20 3 Roads can be driven on after milling 4 Entire Roads will be paved on a given day 5 Once new asphalt has been laid roads will be closed for hours with no car allowed on the road

13 Knollwood Reserve Inc. Balance Sheet As of April 30, 2017 ASSETS Current Assets Bank Accounts Total Fifth Third #0848 Bus. Checking 168, Fifth Third #0855 Bus. Money Market 110, Total Bank Accounts $ 279, Accounts Receivable Accounts Receivable 37, Total Accounts Receivable $ 37, Total Current Assets $ 317, TOTAL ASSETS $ 317, LIABILITIES AND EQUITY Liabilities Total Liabilities Equity Board Restricted Funds 122, Unrestricted Net Assets 39, Villa and Lake Operating Funds 3, Net Income 151, Total Equity $ 317, TOTAL LIABILITIES AND EQUITY $ 317,298.96

14 Knollwood Reserve Inc. Profit and Loss January - April, 2017 Total Income Assessments - General 119, Assessments - Lake 5, Assessments - Villas 66, Investment Income Total Income $ 191, Gross Profit $ 191, Expenses Administrative Expenses General Insurance 2, Legal and Accounting Fees Supplies, Misc. Fees Telephone - Gate entry Utilities - Gates, Road lights 2, Total Administrative Expenses $ 5, Landscape Maintenance Maintenance - General 1, Maintenance - Lake 1, Maintenance - Villas 16, Snow removal 15, Total Landscape Maintenance $ 34, Repair & Maintenance Gate Repair Total Repair & Maintenance $ Total Expenses $ 40, Net Income $ 151,175.75

15 GATE COMMITTEE REPORT

16 ARCHITECTURAL CONTROL COMMITTEE REPORT 1 2 Pool Projects have been approved and being installed (in the Villas) 2 1 Addition has been approved and being installed (Cayugha) 3 1 Pool Projects are in the final stages of approval and will be installed shortly (Cayugha)

17 ADJOURNMENT