LSV Homeowners concerns March 2012

Lakeside Village Homeowners concerns March 5, 2012

To the Board and Board Advisers:

Following owners would like the board and board advisers to review our compiled comments and issues as well as possible solutions to issues at lakeside village.

Not all of the folks that commented are listed we are a growing number of concerned homeowners.

Oliveri, representing 13 owners not on this list
Anthony
Debellis
Chapman
Sneddon
Allison
Lindsay
Connard
Foster
Burton
Reed
D.Bartos
R. Bartos
Zinser
Grout
Christensen
Ochsenbein
We total 31 units to date.

Please post our thoughts to our website.
Thank you,
Concerned Lakeside Village homeowners

Lakeside Village Homeowners concerns March 5, 2012

Concerns of homeowners

1) There are homeowners that have paid for windows replacements and others being paid through HOA. Some owners feel this expense is not an HOA expense and owners will be ok with paying for their owner windows that are actually leaking. There needs to be a clear definition of HOA paid expenses.

2) We want an audit completed and available for review by all homeowners as required by CCRs. Firm should not be connected to our board or homeowners. Should be no conflict of interest. This audit should cover 2010 and 2011.

CCRs section 6.6 Accounting Records

The treasurer shall keep detailed records of all receipts and expenditures, including expenditures affecting the common areas and facilities, specifying and itemizing the maintenance, repair and replacement expenses of the common areas and facilities and any other expenses incurred. In accordance with the actions of the Management committee assessing common expenses against the units and unit owner, the treasurer shall keep an accurate record of such assessments and of the payments thereof by each unit owner the books and accounts of the Association shall be kept in accordance with generally accepted accounting procedures under the direction of the treasurer. At the close of each fiscal year, the books and records of the Association shall be audited and an audit statement prepared within 90 days by a certified public accountant retained by the Association. The books and accounts of the Association and copies of the annual audited statement shall be available for inspection at the office of the Association by any unit owner, his authorized representative or a First Mortgage holder on any unit during regular business hours and copies of all such books, records and audited statement will be supplied by the Association upon written request.

3) HOA – Needs to come up with a schedule of repairs in order of importance and a regular maintenance schedule. This should include and work within our reserve study.

4) HOA - Needs to show financial accountability for funds already spent for maintenance including deficiency repairs and how we manage and account financially going forward.

5) The second Vote. What is the rush for a vote on the deficiency list? The annual meeting was supposed to answer questions from the last failed vote. The resolution of many questions during the meeting has not been posted and no minutes have been posted. We did not even have the results of who was our board before we were asked to vote again.

About the second vote proposed for deficiency list:

We have been asked to vote on raising special assessment funds to do maintenance.
The most recent request from “the board” has a list of items for funding.

From that list there are only 3 items that appear to be related to a possible special assessment:

Item 1) Finish the windows on building 2
Item 2) Stucco repairs from window replacements buildings’ 1-3
Item 13) sewer backup prevention

These items require bids and if needed the owners can vote for a special assessment to fix these items.

To do these items the owners need to have these questions resolved:

• How will we financially track the special assessment $s?

• How are we managing the work?

• Who is doing the work (bids to be posted for owners to see the process)?

• What is the schedule for completion?

A) Comments from a homeowner concerning items listed in the vote packet:

Comments Regarding Cost of Repairs
For discussion and consideration purposes:

Disclaimer: My comments are simply my opinion with respect to the cost of repairs. In some cases, costs seem excessive. In other cases, It seems to me that some burden of payments rests with the homeowner, though I realize if a deficiency were with my unit, naturally I would want the other owners to share the cost. In our unit, while under warranty (First Year), I went through great pains to get several repairs done, which included shoddy dry wall job, leaking upstairs shower drain, and weathered siding. (On the siding, I was told to leave it, and under warranty, several other units will repaired also. Why did this not happen. Did someone drop the ball??? I know that the builder was still on site when I initially reported the weathered siding by our hot tub. I regret that I did not pursue it on my own. How many other cases are there like that? I don’t fully understand the leaking windows problem, but could damage have been prevented with caulking or mortar to have prevented water damage??? If it’s the windows losing their seal and allowing air to come into the sealed area, that’s a different story. That’s why some of my comments may seem a bit callous. SOME REPAIRS NEED TO BE BORNE BY THE OWNERS.

1. Window repairs: I am reluctant to fund 100 percent of these repairs at cost of the ASSOC.

2. Siding: Will new pieces match the weathered pieces? If not, what is next step. Once this gets started, it needs to be finished, and the cost could easily double or triple estimated prices. Has anyone seriously persued idea of finding someone who could economically repair them. There are some pretty clever maint. Folks out there.

3. Why is stone work and curbing in several different sections. As I quickly go through the list, I see:

16K, and then the 3options on top of that?? That’s a lot of money for stonework.

4. Item 8: Stone veneer work on chimneys. Cost is listed as 5,000. Does this include labor. Is this cosmetic work on some units? No one asked me about my chimney. Is this the chimney area surrounding the decks, or visible from the front? Couldn’t much of this work be done by a maint. Man on site?

5. Page 8: labor contract: Why are dates from Aug 2011 to Sep 2011? Certainly we did not pay 85K for one month. If date is supposed to be Sep 2012, we are now 8 months into the contract. I THINK I WOULD HAVE CARDIAC ARREST IF WE HAVE PAID 80 PERCENT OF A CONTRACT WITH NO WORK DONE. SOMEONE PLEASE TELL ME THIS HAS NOT HAPPENED. I CAN LIVE WITH THE OTHER ITEMS.

6. I concur that sewer problems need to be fixed, and responsibility of all owners. P.S. And, I don’t think I am affected, but that is a must to be done.

7. Many, Many, of other repairs, but not all, seems to me, could be done and thereafter repaired by an on-site maint. Man, or perhaps even a summer team from the area. Times are hard, people need work, and this could be an ideal time to reach out to community workers. We help them with a job, they help us get our repairs done at a reasonable cost.

8. Lastly, thanks to the board for tackling a much needed project. But, let’s all be reasonable. 500 K is not reasonable.

How do we as a community proceed?'

A) As per a homeowners letter:
Dominic in charge of Lakeside Village Facility as an interim solution starting March 31 until we have CAREFULLY selected a new facilities management company.
Dominic-Oversee that schedules are on track. i.e.: regular maintenance is being done. Needed facility repairs are being done, etc.
Cody-contractor/worker who arranges and does actual maintenance and repairs.
Dominic and Cody should be able to help the community prioritize the items and setup schedules (Dominic knows how successful HOAs’ work and are run. Cody understands what needs to be done, when to can be done, and can save us money with his contacts.)

B) As per many homeowners input:
There is a strong sentiment to pool some funds to an hire attorney to allow homeowners to stop the hoa from any spending. Attorney to setup a sort of protection of our assets.
These assets are existing accounts - general fund, reserve fund and money market accounts.
In addition we would escrow:
Funds of hoa payments
Funds of special assessment (if a vote to assess passes)
The spending would freeze until we have:
*A new vote for board members that is legally and correctly completed
*Audit completed and available for review by all homeowners. Firm should not be connected to our board or homeowners. Should be no conflict of interest.

6.6 Accounting Records

The treasurer shall keep detailed records of all receipts and expenditures, including expenditures affecting the common areas and facilities, specifying and itemizing the maintenance, repair and replacement expenses of the common areas and facilities and any other expenses incurred. In accordance with the actions of the Management committee assessing common expenses against the units and unit owner, the treasurer shall keep an accurate record of such assessments and of the payments thereof by each unit owner the books and accounts of the Association shall be kept in accordance with generally accepted accounting procedures under the direction of the treasurer. At the close of each fiscal year, the books and records of the Association shall be audited and an audit statement prepared within 90 days by a certified public accountant retained by the Association. The books and accounts of the Association and copies of the annual audited statement shall be available for inspection at the office of the Association by any unit owner, his authorized representative or a First Mortgage holder on any unit during regular business hours and copies of all such books, records and audited statement will be supplied by the Association upon written request

*Reserve study in place and available for review by all homeowners
*Management company or person in place (all bids available for review)
*Schedule of maintenance, available for review by all homeowners
*Method of accounting for special assessment $s in place and available for review by all homeowners.
*Have an Attorney draft an updated ccr’s to establish a workable set of conditions on how current and future problems will be fixed by the Assoc.