1 / 13

Bethesda Place

Bethesda Place. Meeting on Special Assessment. Board Of Directors. Dino Avarino Fran Darby Roberta Fromstein Matt Hirt Andrew Notarian Helene Shapiro Dave Weinstein Sara Brodie – Community Manager. Agenda. Bylaws that effect special assessments Common Area Inventory

makaio
Download Presentation

Bethesda Place

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bethesda Place Meeting on Special Assessment

  2. Board Of Directors • Dino Avarino • Fran Darby • Roberta Fromstein • Matt Hirt • Andrew Notarian • Helene Shapiro • Dave Weinstein • Sara Brodie – Community Manager

  3. Agenda • Bylaws that effect special assessments • Common Area Inventory • Overview of 2010 Budget • Effects of the recent storms • Recent environmental expenses • Unfunded improvements • Impact on Reserve Fund • Allocation of special assessment • Next steps by Bethesda Place Board • Q&A

  4. Board of Directors approved the following with a vote of 7-0 A Special Assessment of $500 per family payable over a 2 year period

  5. Our Bylaws • Bethesda Place owners: 123 • May Meeting • Quorum • 75% of owners with proxy or in attendance (93) • Approve assessment • 75% of those present (70 votes if 93 present) • June Meeting if no quorum in May • Quorum • 50% of May quorum (47) • Approve Assessment • 75% of those present (36 votes if 47 present)

  6. Bethesda Place Inventory

  7. $70,700

  8. Environmental Expenses

  9. Unfunded Improvements (Estimate) • Fix area drainage • Repair retaining wall • Stump removal • Replace trees • Total • $ 14,000 • $ 1,000 • $ 1,500 • $ 5,000 • $ 21,500

  10. Impact on Our Reserves • January 2006 - $132,000 • January 2010 - $106,500 • Reduction of 19% • Recent storms will reduce reserves by approximately 35%

  11. Allocation of Special Assessment

  12. Next Steps By Board • Assessment Passes • Review all expenditures and decide when to allocate funds (could be over multiple years) • Assessment Fails • Review major expenditures for possible cuts or reduction (71% of budget) • $23,000 Landscape Maintenance • $17,402 Management Fee • $9,835 Emergency Capital Expense

More Related