bridgewater hoa annual meeting

1. Bridgewater HOAAnnual Meeting August 2007

3. Special Thanks Kevin Colleton � 2 years of service Lisa Schiller � 2 years of service Monty Livingston � 1 year of service

4. The �Business� of Bridgewater 47 homes at $650 annual dues = $30,500 in �revenue� yearly 96% of budget in 4 areas: Electric Grounds Management Fees Insurance

5. The �People� of Bridgewater

6. The �People� of Bridgewater

7. Accomplishments since our last meeting Kept dues the same for the 4th straight year. Signed new all-inclusive grounds contract to limit risk and guarantee expenses Began earnings in electricity rebate program. Reduced speed limits and had Raleigh post signs Increased communications Created website (http://www.raleighbridgewater.com) Created quarterly newsletter via email Social Party in September 2006; plan to do again this year Volunteers?

8. The Retention Ponds Two ponds Fenn Brook Road cul-de-sac (�dry� pond) Riverview Drive and Sunridge (�bio retention pond�) Where we are: As of July 2007, Centex has completed work Awaiting city of Raleigh certification to turn over responsibility for maintenance to HOA. City of Raleigh can do this test normally in a week, however has agreed to a 3 month term to actually see the ponds work in action before releasing Centex�s funds. We are in the process of hiring an independent Bridgewater-paid engineer to inspect.

9. FAQ about the ponds Are the ponds supposed to hold water? Ironically, only the �dry� pond on Fenn Brook. Under ideal circumstances, the Riverview should hold no water for more than 24-48 hours. How does the ponds actually work? In laymans terms, the pond at Riverview works as a sponge. The pond in Fenn Brook works like a holding tank. Where does the water go? The water in the Fenn Brook pond goes into the Raleigh stormwater. By design, the overflow for the Riverview pond follows the same path as before Bridgewater was built (overflow goes to Breeland Park). Why didn�t this happen sooner? Good question. In reality, the bulk of the work involved in this didn�t start until 2006. The city of Raleigh holds money of Centex�s in escrow until they are certified.

10. The Future and Open Discussion Milestones Ponds� maintenance turned over to Bridgewater HOA. Two board seats up for election Issues for Debate What are the dues likely to be next year? More than likely, next year will require a raise in dues. This is due to normal inflation, and the fact that we�ve already optimized the largest categories of spending. How can we build more of a community, rather than a collection of houses? Do we increase our budget for things such as the grounds maintenance (i.e. �nicer� flowers)

11. Other Announcements Book Club Forming Contact Amanda McCullough if interested --- amanda@erikandamanda.com