Belcorte Homeowners Association Board of Directors Meeting Minutes Wednesday, January 11, 2012 at 7:00 p.m. Eastside City Hall

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1 Belcorte Homeowners Association Board of Directors Meeting Minutes Wednesday, January 11, 2012 at 7:00 p.m. Eastside City Hall Present: Board: X x X X X Staff: X X Jason Cook, Member Bruce Flanagan, Member Harold Gregorich, Treasurer Sandi Grimm, Secretary Alice Kichlu, President Carol Keyser, Managing Agent Donna Rainville, Meeting Minutes The meeting was called to order at 7:35 p.m. I. Elections II. III. The Board Members agreed to serve as follows: Ø Alice Kichlu as President Ø Jason Cook as Vice President Ø Harold Gregorich as Treasurer Ø Sandi Grimm as Secretary Ø Bruce Flanagan as Member Old Business Pool Repair Discussion ensued regarding the pool pump bids and pool service. A motion was made and seconded (Kichlu/Cook) to approve the Falcon Pools bid for the Whisper-Flow pump for $795 and the pool service at $235 per month with chemicals additional. Motion passes unanimously. The Board agreed to solicit bids on repairing the pool light. Financials Harold Gregorich noted that the website is missing financial reports since June. Donna Rainville agreed to check the website and forward the missing financial reports to Joe Grimm for posting to the website. Fence Carol agreed to call the handyman to repair the fence. Future Meetings Board meetings are held every three months on the second Tuesday of the month at the Eastside City Hall located at 7575 E. Speedway Blvd., Tucson, AZ The next meeting will be:

2 Ø March 13, 2012 at 7:00 p.m. Ø June 12, 2012 at 7:00 p.m. Ø September 11, 2012 at 7:00 p.m. Ø December 11, 2012 at 7:00 p.m. IV. Adjournment There being no further items of business, the Board adjourned the meeting at 8:20 p.m. Belcorte Board Members Phone Cell Jason Cook, Vice President Harold Gregorich, Treasurer Sandi Grimm, Secretary Bruce Flanagan, Member Alice Kichlu, President Carol Keyser, Management Agent

3 Belcorte Homeowner s Association (Mgmt Co: Pinehurst Properties P.O. Box 17052, Tucson, AZ Phone (520) Fax (520) ) Page 1 BOARD OF DIRECTOR S MEETING March 13,2012 Alice Kichlu, President, called the meeting to order at 7:10 p.m. at East Side City Hall. Other Board members present: Sandi Grimm,Harold Gregorich & Bruce Flanagan Residents: Carol Kerchenfaut Also present: Donna Wood from Pinehurst Properties. Minutes: December 14, 2010, Minutes: approved as presented. Minutes of the annual meeting on Jan. 11, 2011 were provisionally approved. Final approval will be proposed at the next annual meeting on Jan. 10, Financials: Reported by Treasurer Harold Gregorich Financials for February 2012: Assets: Liabilities & Capital Operating Cash: $ 5, Liabilities $ 0.00 Savings 22, Retained Earnings 20, CD 5, Beginning Balance 15, Money Market 5, Current Year Earn/Loss 2, Total Assets: $38, Total Capital $38, Motion made and approved to accept the Financial Reports for February STANDING COMMITTEE REPORTS: Pool Committee: Opening: Pool will open Sunday, April 1, Landscape Committee: Alice Kichlu reporting. Tree Maintenance: Trees will be trimmed of all dead branches. Water line run to new trees on Third Compliance Committee: Residents need to spray their yards to control the weeds. OLD BUSINESS: Belcorte Improvements: o Board has decided to do pool improvements first. That will involve: 1. Tile repair 2. Lights repaired or replaced as needed. 3. Board cancelled Reserve Study Analysis. NEW BUSINESS Grounds Improvement: Paint wall around perimeter of Belcorte. Reverse the paint on the wall: dark color on the wall, light color in the stripe. Replace the rocks around the same area; to give more color & will cut down on the dirt & dust. Plant blooming flowers at the pool area for color & enhancement of the area. Please me with comments /concerns to: sandigrimm@cox.net

4 Page 2 With no further business, the meeting was adjourned at 8:30 PM. THE NEXT MEETING WILL BE HELD TUESDAY, JULY 10, 2012, AT 7:00 P.M. AT EASTSIDE CITY HALL, 7575 E. SPEEDWAY. Respectfully submitted, Sandi Grimm, for Belcorte Homeowner s Association

5 Belcorte Homeowner s Association (Mgmt Co: Pinehurst Properties P.O. Box 17052, Tucson, AZ Phone (520) Fax (520) ) Page 1 BOARD OF DIRECTOR S MEETING July 10th,2012 Alice Kichlu, President, called the meeting to order at 7:10 p.m. at East Side City Hall. Other Board members present: Jason Cook, Sandi Grimm & Bruce Flanagan Also present: Carol Keyser from Pinehurst Properties. Minutes: March 13 th, 2012, Minutes: approved as presented. Financials: Reported by Treasurer Carol Keyser Financials for February 2012: Assets: Liabilities & Capital Operating Cash: $ 4, Liabilities $ 0.00 Savings 22, Retained Earnings 20, CD 5, Beginning Balance 15, Money Market 5, Current Year Earn/Loss 1, Total Assets: $37, Total Capital $ 37, Motion made and approved to accept the Financial Reports for June STANDING COMMITTEE REPORTS: Pool Committee: Life preserver was replaced. Landscape Committee: Alice Kichlu reporting. Two dead trees on third to be removed. Compliance Committee: Board to do a walk through before next meeting. OLD BUSINESS: Belcorte Improvements: 1. Replaced life preserver. 2. Shower heads replaced. NEW BUSINESS Replace the rocks around the same area; to give more color & will cut down on the dirt & dust. Homeowners will have a chance to select the color. Samples will be placed near the pool. A ballot will be sent around to all homeowners. Comments / concerns can be sent to me: sandigrimm@cox.net With no further business, the meeting was adjourned at 8:30 PM. THE NEXT MEETING WILL BE HELD TUESDAY, September 11th, 2012, AT 7:00 P.M. AT EASTSIDE CITY HALL, 7575 E. SPEEDWAY. Special meeting to discuss increasing association fees. Respectfully submitted, Sandi Grimm, for Belcorte Homeowner s Association

6 Belcorte Homeowner s Association Mgmt Co: Pinehurst Properties P.O. Box 17052, Tucson, AZ Phone (520) Fax (520) ) Page 1 BOARD OF DIRECTOR S MEETING September 11 th 2012 Alice Kichlu, President, called the meeting to order at 7:10 p.m. at East Side City Hall. Other Board members present: Jason Cook & Sandi Grimm Also present: Carol Keyser from Pinehurst Properties. Minutes: July 10th, 2012, Minutes: approved as presented. Financials: Reported by Carol Keyser Financials for August 2012: Assets: Liabilities & Capital Operating Cash: $ 3, Liabilities $ 0.00 Savings 22, Retained Earnings CD 5, Beginning Balance 15, Money Market 5, Current Year Earn/Loss 3, Total Assets: $36, Total Capital $ 36, Motion made and approved to accept the Financial Reports for August 2012 STANDING COMMITTEE REPORTS: Pool Committee: No Discussion Landscape Committee: Alice Kichlu reporting. No serious landscape issues. Compliance Committee: There are a few issues that will be addressed by the board. Architecture Review: Request for lot 38 carport roof expansion is an ongoing issue. OLD BUSINESS: Replacing the rocks around the area is still under discussion NEW BUSINESS The board decided to raise the monthly dues by 5% next year. A special meeting will be held in Dec in lieu of board mtg to vote on a special assessment to cover costs of capital expense improvements around Belcorte. A formal notice with an absentee ballot will be sent to all homeowners. Comments / concerns can be sent to me: sandigrimm@cox.net With no further business, the meeting was adjourned at 8:30 PM. THE NEXT SPECIAL MEETING WILL BE HELD TUESDAY, December 11th, 2012, AT 7:00 P.M. AT EASTSIDE CITY HALL, 7575 E. SPEEDWAY.

7 Respectfully submitted, Sandi Grimm, for Belcorte Homeowner s Association Page 2

8 From: Donna Wood Sent: Monday, November 19, :49 PM To: Cook, Jason ; gregorich, Harold ; Grimm, Sandy ; Kichlu, Alice Subject: December assessment meeting Just to let everyone know, the focus of the December meeting is to educate everyone on the proposed special assessment. The special assessment will be on the ballot for the Annual meeting. Virginia Schuman would like assist in talking to homeowners about the need for this special assessment. Thanks everyone Donna M. Wood Pinehurst Properties, Inc fax

9 Belcorte Homeowners Association AGENDA Belcorte HOA Board Meeting Tuesday, December 11, :00 PM Opening Remarks Approval of Minutes for Sept 11, 2012 Financial Reports o Current Financials o Dues for 2013 o Special Assessment Proposal o Audience Participation Belcorte Homeowners Association, Inc. Business Office: 7301 E. 22nd Street, Tucson, AZ Telephone: Facsimile: info@pinehurstproperties.net Website:

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12 Belcorte Homeowners Association November 14, 2012 In preparation for our December Board Meeting on December 11 th (At Eastside City Hall), we as the board want each and every homeowner to receive as much information as possible so we can all make informed decisions. If you have questions about any issues regarding this information, there are homeowners who are prepared to answer your questions. The Bigger Economic Picture: Our current deflated home values are not the results of Belcorte s overall fiscal and financial health, but the result of current U.S. economic conditions caused by several conditions in the banking and political arenas. There is an upside and a downside to the situation. The upside, our taxes are lower. The downside our property values took a huge hit. This situation has left our residents that purchased when the market was at peak, underwater with loans and has subsequently caused a number of foreclosures. Here at the Belcorte Community: We are tasked to stretch every HOA dollar ; to be the wise steward of funds and how they are utilized in maintaining our community. We are committed to maintaining the facilities and realizing its importance for every homeowner s property values. This property was constructed between 1982 and Our 30 year old property requires continual maintenance and periodic major upgrades to maintain values. We are happy to supply you with monthly financials, but we wanted to summarize pertinent data. Here is an example: 79 homes monthly dues $60.50 = about $4779/per month. December 2011 transferred $4, to your money market account. o Big dollar monthly items Insurance Landscaping & irrigation repairs Pool maintenance & repairs Management Fee A current balance sheet is included in this document set. Belcorte Homeowners Association, Inc. Business Office: 7301 E. 22nd Street, Tucson, AZ Telephone: Facsimile: info@pinehurstproperties.net Website:

13 Belcorte Homeowners Association Your monthly dues pay enough for the month to month operations and routine maintenance. However, we have major maintenance and repairs to the Belcorte amenities that can no longer be deferred. There are four critical issues that need immediate attention. We identify these issues, because they directly affect each one s property values. By addressing these amenities, we feel it will help stabilize Belcorte s property values: Decking patch and paint 1, Patch pool perimeter edges Swimming Pool Plastering and Tile Repair 12, Tennis Court Resurfacing 4, Enhance existing landscape rock* 12, Concrete Grinding to even sidewalks Total: 33, This summer we polled all homeowners on the color of Landscape rock. To completely change out the landscape rock with new rock would cost around $19, We ask that all homeowners reconsider the less expensive option we noted above (to enhance our existing landscape rock for half the cost). This also included completely replacing the rock at the pool as well as the two islands near the Pantano entrance. Due to the number of insurance claims this year, the insurance premium has risen over 30% this year alone! We have included a notice about making some changes to our insurance and the deductibles. If each homeowner was assessed $400 in 2013 (homeowners can opt to make one payment of $200 in March and the remaining payment of $200 in June). $400 x 79= $31, would allow us to make the necessary repairs to our amenities. This still leaves approximately $1642 in projects to complete where we can possibly utilize operating funds. There are other areas we feel need to be addressed, but would like you to answer the attached survey to put them in an order of priority. From this survey, we would like to develop a 2-4 year plan to address the issues listed on the survey into a long range plan. Please feel free to call our board members or two other community volunteers who will be happy to answer your questions. Belcorte Homeowners Association, Inc. Business Office: 7301 E. 22nd Street, Tucson, AZ Telephone: Facsimile: info@pinehurstproperties.net Website:

14 Belcorte Homeowners Association November 2012 All Belcorte Homeowners Re: Belcorte HOA Insurance We feel it is important to update everyone on what has happened recently with our HOA insurance. Over the last two years the claims submitted to our insurance company have increased substantially. As a result, our insurance premiums went from $9533 per year to $12,455 per year; an increase of 30.6% in one year! We are in jeopardy of not being insurable. We have examined various ways to try to keep our costs down as well as keep our coverage. We will be instituting a $ deductible, becoming effective with our premium renewal next month (December 2012). By having a $5000 deductible, it will allow us to reduce the HOA premium by almost $1500. What does that mean for the homeowner? We recommend all homeowners obtain an HO3 policy (which is similar to a homeowners policy) to cover any personal losses not covered by the $5000 deductible. If you have any questions, please feel free to call Kathy Taylor at DM Lovitt Insurance at Belcorte Homeowners Association, Inc. Business Office: 7301 E. 22nd Street, Tucson, AZ Telephone: Facsimile: info@pinehurstproperties.net Website: