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Old Mill Village Homeowners Associations, Inc.

Old Mill Village Homeowners Associations, Inc. Annual Meeting – June 1, 2013. What is an HOA?.

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Old Mill Village Homeowners Associations, Inc.

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  1. Old Mill Village Homeowners Associations, Inc. Annual Meeting – June 1, 2013

  2. What is an HOA? • In order to efficiently manage and to preserve the value and appearance of the community, it is necessary and desirable to create a nonprofit corporation(not a charity) to maintain real property adjacent to or within the Project and owned by such association. • To collect assessments and disburse funds; and to perform such other acts as shall generally benefit the community and the Homeowners. • Membership in the Association is mandatory and shall be appurtenant to the Lot in which the Owner has the necessary interest. • The affairs of the Association shall be conducted by the Board of Trustees.

  3. How does the Board make decisions? • (In order of authority) • The Community Association Act (Utah State Law, Title 57-8a) • The Nonprofit Corporation Act (Utah State Law, Title 16-6a) • The CC&Rs (declaration or ‘covenants, conditions, and restrictions’) • The Articles of Incorporation • Bylaws • Rules established by the Board • How closely do they need to be followed? • Absolutely and to the word • Some Homeowners don’t appreciate the weight that should be given to what the governing documents say. They tend to think you are able to pick and choose what you adhere to, or that if they simply aren’t aware of what’s in the documents, then there’s no need to comply with them. • Virtually nothing that is contained in governing documents is optional. They must be adhered to strictly and literally.

  4. What has the Board done during the last 12 months? • Legally transitioned from Declarant control to Homeowner control. • Established transparency & communication: www.oldmillvillagehoa.com • Corrected ownership records (262 Lots) and past invoicing errors. • Invoiced owners for current assessments of $65,500and $63,084 in prior year errors. • Collected all but $6,325of amounts invoiced (25 of 262 or 9.5% sent to collections; granted concessions by waiving late fees and interest penalties). • Filed past due tax returns for 8 years (2005 through 2012). • Expanded the Board from 3 members to 5 members. • Attended 23Board meetings lasting 2 or 3 hours (minutes on the website). • Responded to 135 emails (board@oldmillvillagehoa.com)

  5. What has the Board done during the last 12 months? • Identified the 12 power boxes and underground cables owned by the HOA. • Repaired 2 damaged underground cables and registered the cables with Kaysville City. • Repaired a power box destroyed by a car accident (paid for by insurance). • Published financial reports and established a budget and reserve analysis. • Removed 2 poorly maintained berms and installed 2 French drains. • Fixed all the fences owned by the HOA or damaged by prior HOA vendors. • All the dead trees were removed, new trees have been planted with 3 new flower beds • 7 new park benches are on order to be installed by the park equipment and swings.

  6. Homeowners Have the Right to: Have the Responsibility to: • Read and comply with the governing documents (CC&Rs). • Pay association assessments and charges on time. • Provide current contact information to the HOA Board to ensure they receive information. • Treat the HOA Board with honesty and respect and ask questions if there is a mis-understanding. • A responsive and competent HOA Board. • Participate in governing the community by attending meetings and standing for election. • Access appropriate association books and records. • Live in a community where the property is maintained according to established standards.

  7. Board Members Have the Right to: Have the Responsibility to: • Fulfill their fiduciary duties and exercise discretion in a manner they reasonably believe to be in the best interest of the community . • Balance the needs and obligations of the community as a whole with those of individual homeowners. • Conduct business in a transparent manner when feasible and appropriate. • Expect homeowners to fulfill their responsibilities to the association. • Respectful and honest treatment from homeowners. • Receive constructive input from homeowners. • Personal privacy in their home and during leisure/religious time in the community.

  8. Question and Answer

  9. Board Member Nominees – Vote for 5 • Joanne Tyson • Chad LaDow • Joseph Roylance • (placeholder) • (placeholder) • (placeholder) • (placeholder) • (placeholder)

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