Provide Provide

RBGC Club House7:00 PM14 Nov 2012

RBOA INC Special Meeting

RBOA INCRBOA INC

Welcome -- thanks for coming Welcome -- thanks for coming

Your participation in conduct of RBOA Your participation in conduct of RBOA is is greatly appreciatedgreatly appreciated

402 members strong402 members strong Board of Directors, Committees Board of Directors, Committees

All VolunteersAll Volunteers

AGENDAAGENDA

CALL TO ORDERCALL TO ORDER QUORUM VALIDATIONQUORUM VALIDATION PRESENTATION ON SPECIAL PRESENTATION ON SPECIAL

ASSESSMENTASSESSMENT DISCUSSION OF MEMBERSDISCUSSION OF MEMBERS VOTE -- RESULTS VOTE -- RESULTS

BOARD OF DIRECTORSBOARD OF DIRECTORS PRESIDENT PAUL MARYESKIPRESIDENT PAUL MARYESKI VICE PRES AL HABERBUSCHVICE PRES AL HABERBUSCH TREAS/SEC LlNDA BLYTHETREAS/SEC LlNDA BLYTHE ENVIRONMENT BILL PATRICK ENVIRONMENT BILL PATRICK ARCHITECTURE AL HABERBUSCH ARCHITECTURE AL HABERBUSCH COMPLIANCE FRANK STRASBURGERCOMPLIANCE FRANK STRASBURGER MAINTENANCE PAUL MARYESKI* MAINTENANCE PAUL MARYESKI*

*acting*acting

PURPOSE AND POWER OF THE PURPOSE AND POWER OF THE ASSOCIATIONASSOCIATION

““This Association is non-profit, does not This Association is non-profit, does not contemplate pecuniary gain or profit to contemplate pecuniary gain or profit to the members thereof. The specific the members thereof. The specific purposes for which it is formed are to purposes for which it is formed are to provide for maintenance, preservation and provide for maintenance, preservation and architectural control of the residential architectural control of the residential properties and to promote the health, properties and to promote the health, safety and welfare of the residents of said safety and welfare of the residents of said properties.” (Article III of the By Laws)properties.” (Article III of the By Laws)

RBOA INCRBOA INC

QUORUM VALIDATION QUORUM VALIDATION 26% of 402 = 10526% of 402 = 105

SPECIAL ASSESSMENT -- REQUIREMENTSSPECIAL ASSESSMENT -- REQUIREMENTS 20 DAY MEETING NOTICE TO MEMBERS20 DAY MEETING NOTICE TO MEMBERS

President Ltr with proxy mailed on/about 19 Oct 12President Ltr with proxy mailed on/about 19 Oct 12 2/3 RDS OF MEMBERS PRESENT BY PROXY OR 2/3 RDS OF MEMBERS PRESENT BY PROXY OR

IN PERSON NEEDED TO APPROVE IN PERSON NEEDED TO APPROVE

TREASURER’S REPORTTREASURER’S REPORT

$44K Annual Program$44K Annual Program 402 mbrs x $110402 mbrs x $110

Money Mkt: $4,430 Money Mkt: $4,430 Checking: $11,147Checking: $11,147 Dam Fund: $5,425Dam Fund: $5,425

____________

$21,002*$21,002*

*as of 30 Oct 2012 *as of 30 Oct 2012

RBOA INCRBOA INC

Major annual expensesMajor annual expenses Ground keepingGround keeping $8,000 $8,000 InsuranceInsurance $6,000 $6,000 LandscapingLandscaping $6,500 $6,500 LegalLegal $6,000 $6,000 Utilities: power/water $5,500Utilities: power/water $5,500

____________

$32,000$32,000

LAKE AMICK/PHELPS DAMLAKE AMICK/PHELPS DAM

FAILED/FIXED IN 2010/paid $11kFAILED/FIXED IN 2010/paid $11k Contract with Utility Solutions GroupContract with Utility Solutions Group

FAILED AGAIN IN LATE 2011FAILED AGAIN IN LATE 2011 Different section of outflow pipeDifferent section of outflow pipe Contract with Construction Service Contract with Construction Service

CompanyCompany Decision to replace entire outflow structureDecision to replace entire outflow structure

Fixed in early 2012/paid $21kFixed in early 2012/paid $21k

SPECIAL ASSESSMENTSPECIAL ASSESSMENT

PURPOSEPURPOSE: : TO RECOUP $$ SPENT ONTO RECOUP $$ SPENT ON

LAKE AMICK/PHELPS DAM REPAIRSLAKE AMICK/PHELPS DAM REPAIRS $31,960 total for both fixes$31,960 total for both fixes

Sept 2010 and Jan 201Sept 2010 and Jan 201 402 x $75 = $30,150402 x $75 = $30,150

Will “restore” reserve accountWill “restore” reserve account Carried approx $40k over past several yearsCarried approx $40k over past several years Safety net to cover emergency expensesSafety net to cover emergency expenses

Lake infrastructure and/or legal fees Lake infrastructure and/or legal fees

Special AssessmentSpecial Assessment

ConsiderationsConsiderations Lakes are a major RBOA expense itemLakes are a major RBOA expense item

Lake Amick/Phelps in 1994Lake Amick/Phelps in 1994 Lake Henderson in 2005: $150,000Lake Henderson in 2005: $150,000

$94 assessment for all members$94 assessment for all members 49 of 56 Lake Henderson property members49 of 56 Lake Henderson property members

contributed additional $2,000contributed additional $2,000 By Laws do not allow varying assessment levelsBy Laws do not allow varying assessment levels

BOD considering amendment to By LawsBOD considering amendment to By Laws Members must approve any proposed assessmentMembers must approve any proposed assessment

CONSIDERATIONSCONSIDERATIONS Lake Amick is in Unit 2 of RBCCELake Amick is in Unit 2 of RBCCE

There are 19 lakefront propertiesThere are 19 lakefront properties 11 are RBOA members, 8 are not 11 are RBOA members, 8 are not

Lake Werk in Unit 1 is similar Lake Werk in Unit 1 is similar RBOA owns the lakes: 5 totalRBOA owns the lakes: 5 total

Deeded to RBOA from Ruckel PropertiesDeeded to RBOA from Ruckel Properties Lake Henderson is the largest: 14.5 acresLake Henderson is the largest: 14.5 acres MOA with RBCC: outlines responsibilitiesMOA with RBCC: outlines responsibilities

Signed in Sep 1994Signed in Sep 1994

COVENANT AMENDMENTSCOVENANT AMENDMENTS

UNIT 1 COVENANTS EXPIRE UNIT 1 COVENANTS EXPIRE DEC 2013DEC 2013 FOREST ROAD, SHARON, MARION, GOLF FOREST ROAD, SHARON, MARION, GOLF

COURSE COURSE UNIT 2 COVENANTS EXPIRE UNIT 2 COVENANTS EXPIRE SEPT 2013SEPT 2013

FOREST ROAD, COLLEGE BLVD, DIANE, FOREST ROAD, COLLEGE BLVD, DIANE,

IRENE CT, CARR, JASON, LAKE AMICKIRENE CT, CARR, JASON, LAKE AMICK FINAL BOD TRY in Mid 2013FINAL BOD TRY in Mid 2013

If Fails: several unknown unknowns!!If Fails: several unknown unknowns!!

Open Discussion/ResultsOpen Discussion/Results Quorum ReachedQuorum Reached

Total properties represented: 154Total properties represented: 154 105 needed for quorum105 needed for quorum

Assessment approvedAssessment approved Votes in favor: 121Votes in favor: 121 Votes not in favor: 33Votes not in favor: 33 2/3 properties represented needed for 2/3 properties represented needed for

approval: 121/154 = 79% > 66%approval: 121/154 = 79% > 66%

THANK YOU FOR COMINGTHANK YOU FOR COMING

HAVE A GOOD WEEK!!HAVE A GOOD WEEK!!