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Autumn Heights COA. Annual Meeting January, 2007. Agenda. Overview of Autumn Heights COA 2007 Budget Goals – Short and Long Term Misc. Items to be discussed Election Conclusion. Autumn Heights COA Overview. Collectively we, all homeowners, own it -- above ground and underground:
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Autumn Heights COA Annual Meeting January, 2007
Agenda • Overview of Autumn Heights COA • 2007 Budget • Goals – Short and Long Term • Misc. Items to be discussed • Election • Conclusion
Autumn Heights COA Overview • Collectively we, all homeowners, own it -- above ground and underground: • We all need to protect it • We all need to take care of it • We all need to maintain it • We all pay for it
Autumn Heights Overview • 26 Buildings with 140 Units • 22 years old and in good shape for its age • Clubhouse with amenities • Pool and Hot Tub • Approx. 10-12 Acres of grounds • 64 sprinkler zones
Autumn Heights Overview • 16,780 ft² of concrete • 3,125 linear ft of wood fence • 4280 ft² of wood retaining walls • 210 waste & vent lines, water and sewer laterals • 95,921 ft² asphalt pavement • 22,760 linear ft of gutters and downspouts • Over 300 trees and 200 bushes
Autumn Heights Overview • The AHCOA Reserve Account permits us to address the financial consequences of most unforeseeable damages, repairs, replacement of these assets. • Undesirable alternative to reserve accounts are special assessments.
AHCOA Organization AHCOA Homeowners AHCOA Board of Directors Var. Contractors Z&R Property Mgmt.
AHCOA Organization • AHCOA Management and Supervision • Administration • Bookkeeping, Banking and Financial • Insurance • Legal • Vendor/Contractor Qualification • Enforcement of Covenants
Z&R Property Mgmt. • Company 25 years in business • Company administers 45 properties in Colorado Springs – some larger and some smaller than AHCOA • Company employs 6 property mangers, each handling several properties • Company president has MBA etc.
2007 Budget Overview • Budget $317,600 (53,760 increase) • $70K Loan • $42K Lawn, trees & landscaping • $71K Utilities & Trash • $31K Insurance • $24K Management • $36K Misc • $105KReserve
2007 Objectives – Short Term • Live within current budget • Continue to retire roof loan • Build up depleted Reserve Acct. • Focus discretionary spending on “curb appeal” items • Advertise our strengths with local realtors
Long Term Goals • Continue to manage for long-term financial stability • Continued increase in property value • Maintain Autumn Heights as a place where people want to live • Continue rigorous enforcement of covenants
Misc. Discussion Items: Grounds • Lawn turf thinning • Weed removal • Flower bed maintenance • Sign posts bent by mowers • Down spouts broken by mowers • Fall clean-up and trimming wasdisappointing
Misc. Discussion Items: Outdoor Lights • Outdoor lights come on at erratic hours (early afternoon through morning)
Misc. Discussion Items: Pool Issues • Use by others than AHCOA owners/renters • Lack of control of pool access – key duplications etc. • Use by unaccompanied children • No smoking sign needed • Pool use information to all owners/residents with AHCOA rules
Misc. Discussion Items: Traffic • High volume and speed of traffic • Larger signs • Reduce speed • Speed bumps
Misc. Discussion Items: Z&R • Better treatment of homeowners • Better customer service overall
Election • Nominations • Comments by nominees • Voting • Results • Announcement
