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Provide. RBGC Club House 7:00 PM 14 Nov 2012. RBOA INC Special Meeting. RBOA INC. Welcome -- thanks for coming Your participation in conduct of RBOA is greatly appreciated 402 members strong Board of Directors, Committees All Volunteers. AGENDA. CALL TO ORDER QUORUM VALIDATION

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  1. Provide RBGC Club House 7:00 PM 14 Nov 2012 RBOA INC Special Meeting

  2. RBOA INC Welcome -- thanks for coming Your participation in conduct of RBOA is greatly appreciated 402 members strong Board of Directors, Committees All Volunteers

  3. AGENDA • CALL TO ORDER • QUORUM VALIDATION • PRESENTATION ON SPECIAL ASSESSMENT • DISCUSSION OF MEMBERS • VOTE -- RESULTS

  4. BOARD OF DIRECTORS • PRESIDENT PAUL MARYESKI • VICE PRES AL HABERBUSCH • TREAS/SEC LlNDA BLYTHE • ENVIRONMENT BILL PATRICK • ARCHITECTURE AL HABERBUSCH • COMPLIANCE FRANK STRASBURGER • MAINTENANCE PAUL MARYESKI* *acting

  5. PURPOSE AND POWER OF THE ASSOCIATION • “This Association is non-profit, does not contemplate pecuniary gain or profit to the members thereof. The specific purposes for which it is formed are to provide for maintenance, preservation and architectural control of the residential properties and to promote the health, safety and welfare of the residents of said properties.” (Article III of the By Laws)

  6. RBOA INC • QUORUM VALIDATION • 26% of 402 = 105 • SPECIAL ASSESSMENT -- REQUIREMENTS • 20 DAY MEETING NOTICE TO MEMBERS • President Ltr with proxy mailed on/about 19 Oct 12 • 2/3 RDS OF MEMBERS PRESENT BY PROXY OR IN PERSON NEEDED TO APPROVE

  7. TREASURER’S REPORT $44K Annual Program 402 mbrs x $110 Money Mkt: $4,430 Checking: $11,147 Dam Fund: $5,425 ______ $21,002* *as of 30 Oct 2012

  8. RBOA INC • Major annual expenses • Ground keeping $8,000 • Insurance $6,000 • Landscaping $6,500 • Legal $6,000 • Utilities: power/water $5,500 ______ $32,000

  9. LAKE AMICK/PHELPS DAM • FAILED/FIXED IN 2010/paid $11k • Contract with Utility Solutions Group • FAILED AGAIN IN LATE 2011 • Different section of outflow pipe • Contract with Construction Service Company • Decision to replace entire outflow structure • Fixed in early 2012/paid $21k

  10. SPECIAL ASSESSMENT • PURPOSE: TO RECOUP $$ SPENT ON LAKE AMICK/PHELPS DAM REPAIRS • $31,960 total for both fixes • Sept 2010 and Jan 201 • 402 x $75 = $30,150 • Will “restore” reserve account • Carried approx $40k over past several years • Safety net to cover emergency expenses • Lake infrastructure and/or legal fees

  11. Special Assessment • Considerations • Lakes are a major RBOA expense item • Lake Amick/Phelps in 1994 • Lake Henderson in 2005: $150,000 • $94 assessment for all members • 49 of 56 Lake Henderson property members contributed additional $2,000 • By Laws do not allow varying assessment levels • BOD considering amendment to By Laws • Members must approve any proposed assessment

  12. CONSIDERATIONS • Lake Amick is in Unit 2 of RBCCE • There are 19 lakefront properties • 11 are RBOA members, 8 are not • Lake Werk in Unit 1 is similar • RBOA owns the lakes: 5 total • Deeded to RBOA from Ruckel Properties • Lake Henderson is the largest: 14.5 acres • MOA with RBCC: outlines responsibilities • Signed in Sep 1994

  13. COVENANT AMENDMENTS • UNIT 1 COVENANTS EXPIRE DEC 2013 • FOREST ROAD, SHARON, MARION, GOLF COURSE • UNIT 2 COVENANTS EXPIRE SEPT 2013 • FOREST ROAD, COLLEGE BLVD, DIANE, IRENE CT, CARR, JASON, LAKE AMICK • FINAL BOD TRY in Mid 2013 • If Fails: several unknown unknowns!!

  14. Open Discussion/Results • Quorum Reached • Total properties represented: 154 • 105 needed for quorum • Assessment approved • Votes in favor: 121 • Votes not in favor: 33 • 2/3 properties represented needed for approval: 121/154 = 79% > 66%

  15. THANK YOU FOR COMING HAVE A GOOD WEEK!!

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