2011 Financial Meadow Creek Condos

2011 Financial

Income
Association Dues --$ 8,720.00
Transfer to Savings
Interest ---------------$ 0.34
Total Income-- $ 8,720.34

Expenses
Residence
Insurance---------$ 2,198.75
Utilities/Maintenance
Alarm Service---- $ 1,520.77
Electricity-------- $ 2,152.13
Lawn Care -------active now
Snow Removal--- $ 1,102.35
Phone Line (for fire)$ 950.77
RPZ/Backflow Testing$ ---0
Trash------------ $ 1,273.01
Water --------------$ 761.16
Fix Parking Lot-- $ 1,938.00
Miscellaneous Exp.
Office Supplies $
Order Checks $
Bank Fees----------- $ 6.00
Postage $
Total Exp.---$ 11,902.94

Net Income $ (3,182.60)

Meeting Outside of Building 1960 on 09/07/10 at 6:30 p.m.
Attended meeting is : Randy Crawford, Ginger O'Banion, Austin Coon , Joe Roman, Brad Tebockhorst, and Sue Person.

Randy got quotes on getting parking lot resurfaced. Got quotes from : Gee Asphalt , A& E Asphalt, Tikorblack, Inc. , and Pate Asphalt. First we need to fix a hole by drain hole in the end of parking lot near building 1960. Randy feels the asphalt companies can not do anything to fix the dip down places in the lot.

Randy wrote a letter that can be delivered to everyone in the condominiums to notify them when the asphalt will be done and where to park. We hope to decide on a company soon.



Sue Person - Secretary

Association Officer meeting

Meadow Creek Association Yearly Owners Meeting

August 9th at 7PM in the Parking lot of 1960 bldg

Agenda:

Election of Officers

August 2010- June 2011 officers

President Randy Crawford

Vice President Ginger O'Banion

Treasurer Austin Coon

Secretary Sue Person

Director Brad Tebockhorst

Director Joe Roman

Finance update

• 3 condos are currently not paying dues. The owner of 2 of these filed bankruptcy and the other belongs to the estate of a deceased owner. Austin is looking into the process of placing a lien on the two in bankruptcy.



• 2010 Financial for Meadow Creek Condo



• Income



• Association Dues---------$39,318.49



• Transfer to Escrow-------$-----0.00



• Interest------------------$-----10.31



• Total Income---------$39,328.80
  



• Expenses



• Residence Insurance-----$8,787.13



• Utilities Maintenance



• Alarm Service------------$3,465.50



• Electricity----------------$4,878.58



• Lawn Care--------------- $6,962.24



• Snow Removal----------- $7,392.10



• Phone Line (for fire)------$2,091.77



• RPZ/Backflow testing---- $----0.00



• Trash-------------------- $2,523.04



• Water-------------------- $1,101.87



• Light Bulbs/tools--------- $---49.10



• Hoses & Sprinklers------- $--133.03



• Fix Roof Vents----------- $-200.00



• Fix Parking Lot-----------$5,298.73



• Miscellaneous Expenses



• Office Supplies------------$---46.40



• Postage-------------------$---88.00



• Bank Fees---------------- $---24.00



• Total Expenses-------$43,038.54



• NET INCOME---------$-3,709.74

• Account Summaries



• Checking Balance at Year End--$3,277.88



• Escrow Balance at Year End---- $5,190.62



• 
  
  TOTAL-----------------------------$8,468.50

Building Maintenance

• 
  
  
  Roof Vents: Currently the vents are plastic (not aluminum). When they were installed the shingles went put against these and have broken a few. If anyone has issues with their roof leaking please inform Austin and he will see that new vents are installed.




• 
  
  
  Garbage issues: Garbage is picked up on Monday/Wednesday/Friday each week. Door to the garbage area continuously is broken. We had two garbage bins but removed one in 2008 and added an additional day of pick up. The bins tend to freeze to the ground in the winter and with two it was more difficult for the garbage man to empty these. We looked at getting a larger bin but don't have the room for the truck to come in to empty this size.




• 
  
  
  Landscaping: Bushes need to be trimmed more frequent. Due to the large amount of rain this summer we have seen the weeds and bushes take over more than normal. The board has asked those who can to help in trimming the bushes and pulling weeds. We pay pro lawn by the hour and the more we can chip in as homeowner the longer we can keep dues at the current rate. Suggestion was made to hire a maintenance man who leaves in the association and reduce his dues to help with things around our grounds. No one volunteered for this position at this current time.




• 
  
  
  Qwest line along the property line between 1960 and 1940 still needs to be buried.




• 
  
  
  Parking spots for building 1940 need to be numbered. Currently other owners are parking in these spots and shouldn't be unless they reside in this building.




• 
  
  
  1940 is still under the builder warranty. Please make sure to resolve all current issues with the builder to prevent additional expenses after the fact. (ex. ice damming, leaking roofs, etc.)

Outdoor Garage Lights

• 
  
  
  Several of the garage lights are not working properly. They will turn on if you hit them. The association will look into how to repair these.




• 
  
  
  Other outdoor lights are set on a timer. These are manually adjusted with daylight savings time. We currently do not have any lights that turn on when it is dark due to weather. This is definitely something the board plans to look into changing in the next few years.

Driveway Concerns

• 
  
  
  Parking in front of 1900 building: Parking in front of the building is still an issue. This is a fire lane and in case of an emergency if the trucks had to get through any damage to those vehicles in the way will be the owners responsibility. We have looked into marking it as a fire lane and will do this in the future.




• 
  
  
  The parking lot/driveways will be resealed and painted hopefully yet this year. We need to have the cost requoted. When this is scheduled all owners will be notified prior to the driveway being blocked off to all vehicles. This is slated to only take approx. 2 days to complete.

Open Discussion

• 
  
  
  Reminder: Please pick up after your animals so that we all can enjoy the property.




• 
  
  
  Tree on the west side of mailboxes is dead




• 
  
  
  New alliant energy towers have been put up along 18th st.




• 
  
  
  1940 owners need copies of the bi-laws. Association will distribute




• 
  
  
  Question brought up on size of dog allowed. Original bi-laws state nothing larger than 35 lbs. This was amended later to allow more interest in owners to buy condos here.




• 
  
  
  Extra garage: Due to the 8th unit not being built on 1940 there is a extra garage that Jerry's homes own but do not pay dues for. They told the association we could buy the garage for $10,000 which at this time is not an option. The owners present at the meeting thought it was only fair to assess a due to the builder since we are losing out in the dues of a full unit.




• 
  
  
  Tax assessments were received by home owners in April. Several owners appealed theirs since the amount was much greater than what their units were worth. The due date to appeal was May 15th. This is something every owner should pay attention to each year.

Annual Owners Meeting 2009

To: All Homeowners
Annual Homeowners Meeting
6/24/09 7:00pm

Six Directors were present.
Fourteen Homeowners were present.

Barb Rogen presented the Annual Financials Report. See attached document.

Election of New Board Member:

Joe Roman was appointed to the role of Director. This is a three year term.
Barb Rogen’s Treasurer term has been completed.

Reassignment of current Director roles occurred post meeting. The reassignment is as follows:
Jay Nunemaker – President
Ginger O’Banion – Vice President
Brandon Petschow – Secretary
Austin Coon – Treasurer
Robin Rassmussen – Director
Joe Roman – Director

Effective immediately please drop Association Due’s to 1960 building unit 46 or mail to: 1960 Rockford RD SW Unit 46, Cedar Rapids, IA 52404

Pavement resealing was discussed. We’ve received an estimate from Gee Asphalt in Cedar Rapids for approximately $7400.00. We are seeking other bids from other companies. The parking lot has not been resealed since it was completed. It is recommended to reseal a lot with our type of traffic every three years. We have tentative plans to accomplish this in the spring of 2010.

Concerns regarding garbage removal from the dumpster site were brought up. We will be working with A-1 Disposal to ensure this is happening as scheduled.

Lawn care and maintenance were discussed. We are working on a plan to trim the tree that over hangs our drive entrance.

Repairs to the garages in between the 1900 and 1920 buildings were discussed. The Board will be working to repair the damaged corner and replace missing shingles as soon as possible.

Jerry’s Homes has informed us of tentative plans to start construction on the 1940 building in the fall.

New Business:

Vandalism in the area has been reported. If you are victim to vandalism, please file a police report with the city. If we have enough reports, the city police department will periodically drive through the area.

Compensation for Board Members was discussed. Currently, a Director position is on a volunteer basis. If we were to hire an outside Property Management Firm, we would pay 20% of the total monthly income to the Management Firm. It was decided by majority vote to compensate the Treasurer and Secretary positions by waiving the monthly HOA dues for these two positions. Eventually, all Board positions will be compensated. This will be enacted beginning January 1st, 2010.

Tentative Plans to paint and place signage for the fire lane in front of the 1900 building, and the mailboxes. If any vehicle is parked in this area, the Fire Department can remove the vehicle by force if necessary to get to the site of the fire. (Ram the vehicle out of the way with the fire truck to move it. Damages to your vehicle and to the fire truck are the responsibility of the vehicle owner if this step were necessary.) Please do not park here.

Meeting Adjourned

Reminders not in relation to the Annual Meeting:
Guest parking is available along the end of parking lot adjacent to the 1960 building. Also, curbside on 18th ST and Rockford RD is available. We may also utilize the parking in front of 1940 site until these units are built and sold.

Power is not to be drawn from electrical outlets owned by the Association for more than a 24 hour period, outside the normal scope of use (vacuuming out a car in the garage, use of a power tool/lawn tool, etc.)
This does not include the power outlet on your patio or deck. This outlet is owned by the homeowner.
Outlets owned by the Association are all garage outlets, exterior building outlets such as in the breeze ways and on the ends of the buildings.
If you would like to draw power from these outlets, you may do so by notifying the President, Vice President, Secretary or Treasurer.
The Association will be assessing a power fee of $5.00 per 24 hour period or $80.00 per month if you would like to draw on it for this amount of time. This will be assessed as per above guidelines for any vehicle (recreational or other) utilizing power owned by the Association.
These fees must be paid in advance to the treasurer. No prorated amounts or refunds will be made for unused days/time. You may pay this fee with your Association Due’s. This fee structure will be enforced beginning July 10st, 2009
The Power Fee will also apply to any appliances such as refrigerators or deep freezes in your garage at a rate of $80.00 per month.

As per the Association Bylaws no boat, trailer, motor home, or recreational vehicle may be parked upon the limited or general common elements including but not limited to the driveways for more than 48 hours during any 14 consecutive day period. This can be found in Page 6. Article X – Conditions of and restrictions on ownership, use and enjoyment – Paragraph F of the Covenants, Restrictions and Bylaws.
Special accommodations for additional time will be considered if you contact the President, Vice President, Secretary or Treasurer. A parking space rental fee equaling $20.00 per day after the initial 48 hour period will be assessed to the homeowner.
No more than a 7 day accommodation will be made.

Association Dues
All dues must be paid to Meadow Creek Homeowners Association on or before the 5th of every month.
$25.00 late fee is assessed if not received by the 5th, or is returned to the Association as non-payment/non-sufficient funds.
In addition to the Late fee, any fees assessed by our bank will be charged for non-payment/non-sufficient funds on each check returned to the Association.
Effective immediately, all dues need to be dropped off or mailed to: 1960 Rockford RD SW Unit 46, Cedar Rapids, IA 52404.
Contact the treasurer for more information on auto-pay option that is available if you are interested.

Masture Insurance Policy

Homeowners,

If your mortgage company requires updated copies of the complexes Master Insurance Policy, please e-mail your requests to:

meadowcreekassociation@gmail.com

We will need the following:

• Your banks name
• Your contact person's name, phone, fax and e-mail address
• The file is in PDF version and will be e-mailed to your contact unless other wise requested.
• Faxing will occur upon request M-F only, within 24-48 hours of request.

Thanks

Treasurer's Report as of 12/31/08

Meadow Creek Homeowners AssociationTreasurer’s Report
As of December 31, 2008
Income
Association Dues$37,500.00
Late Fees$225.00
Transfer to Escrow($1,640.00)
Interest$5.53
Total Income$36,090.53

Expenses
Residence
Insurance$6,353.92
Utilities/Maintenance
Alarm Service$2,203.77
Electricity$2,689.62
Lawn Care$5,217.42
Snow Removal$8,683.07
Phone Line (for fire)$1,800.37
RPZ/Backflow Testing$278.73
Trash$3,250.57
Water$398.18
Electrical Work$50.95
Rekeying Locks$200.62
Garage Door Repair $424.00
Light Bulbs/Tools $59.15
Pipe/Drywall Repair $500.00
Loans
Loan Repayment$4,200.00
Miscellaneous Expense
Office Supplies$40.68
Postage$58.40
Meeting Space$30.00
Attorney Fees$0.00
Total Expenses$36,439.45

Net Income($348.92)

Checking Account Balance $205.75
Escrow Account Balance $1,640.00