Finance & Legal minutes: 2012-11-12

Minutes:

Attending: Becky, Mary, Adi

- placing liens on households behind over $1000

we are awaiting some details but it looks like we might only have to
update the amount on the one existing lien as there are likely going to
be payment plans in place for other households in arrears

- reserve fund spending and investment policy -- prepare for
presentation for 11/19 Community meeting -- the key question for the
community is whether collectively we prefer possibly large jumps every
3-5 years when we do reserve updates or a fixed per year increase

we will bring an informational item about the reserve (spending so far,
planned for the next year etc.) to this upcoming committee meeting as a
beginning of the conversation

- discussion of any items after Len's presentation on Saturday

need a discussion about rebates within F&L and based on that write a
proposal to the community about why to or not to provide rebates in the
following year (vs. the 2nd following year, or use it differently --
FWIW Sunward contributes HOA due excess to reserves)

- we will decide on preassignments etc. at the next F&L meeting for next
season's jobs

END

On Sun, Nov 11, 2012 at 09:55:38AM -0500, R.P. Aditya wrote:
> All are welcome to the F&L meeting in the GO CH sitting room tomorrow at
> 7:30pm.
>
> Tentative agenda:
>
> - placing liens on households behind over $1000
>
> - reserve fund spending and investment policy -- prepare for
> presentation for 11/19 Community meeting -- the key question for the
> community is whether collectively we prefer possibly large jumps every
> 3-5 years when we do reserve updates or a fixed per year increase
>
> - discussion of any items after Len's presentation on Saturday
>
> postpone Master Deed update discussion to when Aaron can be present,
> likely in the new year after his leave
>
> Adi
>
> On Mon, Oct 08, 2012 at 08:50:39PM -0400, R.P. Aditya wrote:
> > - bookkeeper's report on arrears etc.
> > -- HOA arrears collection from owing households
> >
> > 2 households are pushing against the $1000 threshold and Becky will warn
> > both households that a lien will be placed unless they pay
> >
> > 1 household who owes $9K+ has fallen behind again in their monthly
> > payments; plus the one CH office rented by their household is also
> > behind by 2 months rent -- at the next F&L meeting we will set a
> > timeline with concrete steps to address the case
> >
> > - placing a lien on the one unit under foreclosure currently
> >
> > GOCA has received a notice of foreclosure on one unit; that unit will
> > cross the $1000 threshold in November if they do not pay their HOA dues
> > any longer -- do we add the "CH assessment" amount to the lien? we will
> > bring that discussion to the community
> >
> > - any new information from CPA about how many years of GOCA federal
> > taxes we have to amend?
> >
> > we are going to arrange a face to face meeting with the CPA to get our
> > questions answered
> >
> > - possibly 2013 operating Budget matters?
> >
> > Becky will communicate with Mary to update the tax arrears payment out
> > of rollovers proposal to say that the insurance deductible rollover be
> > the last to be taken from and the first to be replenished in case of
> > money left over since we don't have any other clear mechanism to add
> > money to that rollover in 2013. If there is no money left over, we will
> > use the 2014 budget to collect money for the insurance deductible
> > rollover.
> >
> > - we need to notify the community that money that renters owe to GOCA
> > (guest room or truck fees typically) or meals, will go on the owner's
> > association statement if the renter leaves without paying. The
> > relevant section from our Bylaws:
> >
> > http://gocoho.org/boa/?id=agreement&num=70
> >
> > ARTICLE IX
> > LEASES
> >
> > 1. Notice of Leases. Any co-owner, including the developer, who desires
> > to rent or lease a condominium unit shall inform the association in
> > writing at least 10 days before presenting a lease form to a
> > prospective tenant and, at the same time, shall give the association
> > a copy of the exact lease form for its review for compliance with the
> > condominium documents. If the developer proposes to rent condominium
> > units before the transitional control date, it shall notify either
> > the advisory committee or each co-owner in writing.
> >
> > 2. Terms of Leases. Tenants and non-co-owner occupants shall comply with
> > the provisions of the condominium documents of the project, and all
> > lease and rental agreements shall state this condition.
> >
> > 3. Remedies. If the association determines that any tenant or
> > non-co-owner occupant has failed to comply with the provisions of the
> > condominium documents, the association may take the following
> > actions:
> >
> > a. The association shall notify the co-owner by certified mail addressed
> > to the co-owner at the co-owner's last known residence of the alleged
> > violation by the tenant
> > b. The co-owner shall have 15 days after receiving the notice to
> > investigate and correct the alleged breach by the tenant or to advise
> > the association that a violation has not occurred.
> > c. If, after 15 days, the association believes that the alleged breach
> > has not been cured or might be repeated, it may institute an action for
> > eviction against the tenant or non-co-owner occupant and a simultaneous
> > action for money damages (in the same or another action) against the
> > co-owner and the tenant or non-co-owner occupant for breach of the
> > provisions of the condominium documents. The relief stated in this
> > provision may be by summary proceeding. The association may hold both
> > the tenant and the co-owner liable for any damages to the general common
> > elements caused by the co-owner or the tenant.
> >
> > End.
>
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