July 7, 2010 Meeting Minutes


Meeting was called to order at 5:18 p.m. by Dan Hunt. Fran Hamilton, Ron Mason, John Doub, and Jim Blaylock were present. Dick and Vicki Garvey of North Beach Resort Management were also present.

Dan moved that the amended minutes from the 08 Apr 10 meeting be approved. Unanimous approval vote by the BoD.

Next BoD meeting was scheduled for 20 Aug 2010 at 5:15pm.

Vicki discussed inputs for 2011 budget planning:
• Handouts were distributed that describe the variances in 2010 budget
• BoD-approved additional expenditures amounted to $19,350 for lake stocking, sand fence installation, and SWTF.
• The Capital Reserves balance has been holding at approx $300K, with no addition to it for 2010. $98K is allotted for reserves each year from POA fees, but these monies may also be spent on capital projects.
• All agreed to make a commitment to have a new Reserve Study spreadsheet so that we know exactly where we’re at prior to 2012 budgeting or any discussion of raising POA dues.
• Initial look at 2011 budget indicates similar revenue and operating expenses. A reduced level of spending on capital projects is planned, with the balance of the monies to be added to the capital reserve fund.
• Caveats for the remainder of 2010 spending are a possibility of legal fees over the budgeted amount (have spent $8K of the budgeted $10K), and also a possible $5K-$7K expense for irrigation system repairs.

Dick discussed a comprehensive handout regarding Capital budget estimated and actual spending for 2010:
• 17 possible Capital projects were discussed and prioritized by the BoD and management team, with the goal of limiting spending on capital projects at the $73K level to allow $25K to be added to the reserve fund. The projects that will tentatively be planned (along with estimated cost figures) are:
• Concrete flatwork for culdesacs ($1K)
• RR tie replacement/upgrade ($15K)
• Seal oceanfront parking lot and Stillwind Ct ($5K)
• Homeport Ct stormwater control ($15K)
• Sports court ($18K)
• Completion of mid-Sandcastle ($2K)
• Oceanfront pool building roof replacement ($3K)
• Lakeside pool building siding ($4.5K)
• Oceanside pool concrete ($3.5K)

Vicki discussed a variety of topics:
• Status of assessment collections – far better than expected
• Starting to plan agenda for fall meeting – will we have a guest speaker, perhaps someone to discuss the bridge project
• Fall meeting date will be Saturday, 10/9/10
• Sharkey’s revenue up a minimal amount; Fitness Center revenue is up 7%

Dick discussed a variety of topics:
• Areas completed by the SWTF fared very well during the recent torrential downpour. A few portions of the project still need finishing touches.
• EC violations are essentially completed, and the new EC committee is working very well together.
• A homeowner’s roof deck was completed on the opposite end of the home than what the approved plans called for. Required the builder (Olin Finch) to resubmit the corrected plans, along with an additional $250 fee for re-approval. The $500 deposit will also be retained by VOH. An addition to the deck which would’ve raised it above the roofline was disapproved.

Dan discussed a variety of topics:
• Reports of trespassing into OH1 need to be referred to the police.
• Golf cart rules need continued input and massaging
• Fran will write a letter thanking the County for the work on the multi-use pathway
• Still considering whether speed bumps or rumble strips are needed for the path, now that the County has affixed signage.

General discussion about the possible implementation of user fees for vacation rental homes, somewhat similar to Corolla Light’s fee structure:
• For use of Fitness Center and other amenities
• Vicki will run the numbers to attempt to determine what level of a user fee would be needed to offset the loss of walk-in and RAP revenue.

Meeting adjourned at 8:10pm.

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