HOA Annual Meeting 2012 April 19 2012

1. HOA Annual Meeting 2012 April 19 2012

2. Finances • Current Budget • Current Financial Status • Dead Trees & Pond Fencing • Communication • Landscaping • Bids • Entranceway Beautification • Curbing • By-Law Changes • Other Topics • Questions and Answers

3. 2012 Budget Go to http://groups.yahoo.com/group/valleyhighestates/files/Meetings/ Select VHE_2012_AnnualComplete.ppt to see complete charts with Financial information • Several thoughts about how to fund upcoming exciting projects

4. 2011 Financials Go to http://groups.yahoo.com/group/valleyhighestates/files/Meetings/ Select VHE_2012_AnnualComplete.ppt to see complete charts with Financial information

5. 2012 Financials Go to http://groups.yahoo.com/group/valleyhighestates/files/Meetings/ Select VHE_2012_AnnualComplete.ppt to see complete charts with Financial information

6. New Budget Item: Replace 5 dead trees per year • Approximate cost per year: $1,000 • Board has already spent time in identifying all the dead trees through out the HOA. 5 trees have already been replaced. • Priority for replacement of dead trees • Hi-Vue road takes priority • Inside streets will be next • Dead trees behind houses will be replaced after that • Board may even replace bad looking trees with better ones (especially near the entrance)

7. 3 different paths • Tough to get to from any paths • Dangerous terrain surrounding pond, including a steep dropoff inland as well

11. Township Letter states Fence not required • Fencing the pond is a complex project • Discussed our options with Attorney • Recommendation – Signs

12. Website: www.valleyhighestates.org • Yahoo group: http://groups.yahoo.com/group/valleyhighestates/ • Encourage residents to Join the group • Seasonal Newsletter

13. Previous proposals and expenditure • Entranceway Beautification Project • Moyer Buffer • More than half dead trees • Board has assigned lowest priority for replacement of those dead trees • Dead trees did not carry sufficient warranty • Look into other Landscapers based on community request

14. HOA Board came up with a check list of Items • Invited many Landscapers for the bids • Walked them around the community • Stayed with them for hours while they measured so as to ensure that they don’t take anything from backyards • Called their references • Visited the sites they maintain

15. Narrowed to 5 Landscapers • 1 Landscaper out of that backed out stating we are not fair to outside vendors • 3 Bids came in less than Turning Leaf • Discussed options with Turning Leaf • Cancel current contract • Negotiate a new price • Turning Leaf has serious concerns about the ability of these vendors to maintain our neighborhood well at these prices • Unable to get out of the 3 year contract

16. Unable to realize savings from landscaping maintenance for beautification • Scaled down the entranceway beautification project • Clean up existing signs • Power wash and paint • Big impact with less cost: Change some plant, trees and shrubs • Curbs

17. Working with Township for past 8 months • Limited Curbs at both entranceways – Township Approved permits • Curbs through out the community – One step closer • Waiting on Solicitor’s letter • Several options available. Can be done over several years. • Entranceways • Corners of Hi-Vue • Corners of all the streets in the community • Main streets starting from Hi-Vue

18. Curbs at Entranceways

19. Proposed Changes • Any new business deal that is greater than $3000 and is not in the budget will need 67% approval and an open and fair bidding process. Board must not disclose the bidder names or bids to anyone until deal is finalized. • All deals must contain a cancelation/out clause. • Any new business deal that is greater than $5000 and is with a Valley High Estates homeowner needs 67% approval. This includes items that are in the budget. • Changes of 10% or more to any budget item that is greater than $3000 must be communicated to the residents • Any changes to Board members must be communicated to the residents

20. Proposed Changes – Contd.. • The Board must get 67% approval before charging any special assessment • The Board must provide at least a 2 week input period from the community before making any changes to the Declaration, By-laws, and Rules and Regulations. • The approval process shall be that the Board allows 30 days for the community to vote. Once 67% approval or 34% disapproval has been reached, the decision is made. If neither approval or disapproval has been reached after 30 days, the Board makes the decision.

21. HOA has limited amount of money. Currently spending almost as much as we take in • Future HOA Dues: • Current fiscal path requires increase in HOA dues or use of money from savings • Financing for new projects: • Could use some from savings • Could charge a special assessment • Wait until we can reduce our Landscaping costs

22. By-Law Changes • Scaled down Entranceway Beautification • Entranceway Curbs • Limited Neighborhood Curbs • Pond signs PS: We are operating on a very limited budget

23. Snow Removal • Cul-De-Sac Parking • Community Day

24. Questions