Williamsburg of Birmingham Association Board of Directors Meeting Monday, August 24, 2010

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1 Williamsburg of Birmingham Association Board of Directors Meeting Monday, August 24, Call to Order and Roll Call President Weston called the meeting to order at 7:00 p.m. at Graefield Court. Present were Directors Baxter, Bickelman, Caldwell (Treasurer), Mistor (Vice President), and Neely. Director Grimm was not present. Mr. Chaundy, Ms. McWhirter, and Ms. Tetreau represented Herriman & Associates. 2. Verification of Quorum Mr. Chaundy verified there were sixty-one (61) co-owners present or represented by proxy, which was a sufficient number to constitute a quorum. 3. Verification of Notices Mr. Chaundy verified two notices were mailed to all co-owners via U.S. Mail at least thirty days prior to the meeting. 4. Approval of Minutes Ms. Kadoura moved and Ms. Wobb seconded to approve the Minutes from the last annual Association meeting as submitted and authorize Management to destroy the ballots from the last annual election. The motion was unanimously approved. 5. President s Report President Weston said she is proud of the way the community is run, it looks good with projects being completed, and focus on saving for future projects, including two major projects to be completed in phases to avoid additional assessments. Extensive studies were performed and specifications prepared to professionally and properly replace the roofs that will cost approximately One Million Dollars. There was a fire in a unit, insurance covered the portion that was affected, and the Association replaced the remainder of the roof. Some vents were removed that were not needed and to eliminate ice dams. Painting the buildings will cost approximately One Million Dollars. Brick and mortar studies were obtained. 6. Treasurer s Report Director Caldwell reported at the end of 2009, cash totaled $98,000, representing a decrease from $141,000. Contributing factors were the cost of replacing the roof of the building that had the fire at a cost of $31,000 and rebuilding asphalt behind Building I at an approximate cost of $71,000. Both were unexpected projects and were funded from Reserves as well as purchasing a new site vehicle at the cost of $17,000 because the previous one was over 15 years old and continually required repairs. The monthly assessment has not increased since 2002 and focus is being placed on building Reserves. As of July 31, cash totaled approximately $165,000 and included $100,000 in a certificate of deposit at Bank of Birmingham. Savings will continue for future projects, including the roofs at an approximate cost of $6,000 per unit.

2 August 24, 2010 Page Two Expenses totaled $354,000 (decreased from $408,000), equaling $168 per unit per month from the assessment. Reserve expenditures totaled $181,000. Other expenses included $12,000 for entry doors and $21,000 for sewer replacements. Sewers and fresh water lines need to be replaced immediately when they fail. There are six sewer lines remaining to be replaced at a cost of approximately $15,000 each. Williamsburg directly competes for sales with Graefield Village. With the current economy, there are lots of delinquent accounts and foreclosures and increasing the monthly assessment would adversely affect sales. Questions A co-owner asked the cause of the fire. Director Caldwell advised the co-owner s son occupied the unit and fell asleep while burning incense. Ms. Cherry asked how Reserves could be built if the monthly assessment is not increased, which should have been done a few years ago because they can t have funds in Reserves to maintain and replace common elements in accordance with the Bylaws. Director Caldwell advised the Board is really watching spending and completing projects in phases. Increasing the assessment would negatively affect property values and co-owners facing foreclosure, possibly pushing them over. Director Baxter added new roofs and painting are long-term projects and potential purchasers will see a positive cash flow. Painting is primarily cosmetic and not necessary at this time, especially with the current economy and they are trying to plan ahead for replacing the roofs that were rated worst to best condition in the study. While the Board strives to pay cash, there are different ways to finance major projects. -Some co-owners said they wouldn t want the monthly assessment to be increased, want to build funds for future projects, and don t want to complete cosmetic projects that could wait. Ms. Bruni inquired about delinquent accounts. Mr. Chaundy advised there are approximately 9 units owing for more than 60 days and 4 mortgage foreclosures or in the process, representing approximately 2% of the Association. Director Caldwell added accounts receivable totaled approximately $25,000 at the end of 2009 and over $36,000 currently. The same units are delinquent with the balances increasing. -Directors Bickelman stated finances would be a lot better if 100% of the assessments were received and replacing the roofs and painting the building would equal an additional $225 per month per unit that would result in not being able to sell units. Mr. Simpson said painting was discussed while he served on the Board because of the poor quality of the brick and the largest expenses were snow removal and grass cutting. A plan is needed to continue reducing expenses. Director Caldwell said unfortunately, expenses and costs increase over time, so the Board is watching spending and projects and reducing expenses as much as possible. Mr. Simpson said they should only replace the entry doors that are failing.

3 August 24, 2010 Page Three Mr. Arnold asked why aggressively saving was not implemented 10 years ago. President Weston advised there was a different board. Director Bickelman advised the Board is being proactive and watching the Association s money. Director Caldwell added the best way to secure financing is cash and if there was a real emergency, the Association has money in the Bank. Mr. Fridman suggested not spending money on the tent and cookies for the annual meeting. 7. Election There were four positions open for election. Directors Grimm, Mistor, Neely, and Weston s terms were expiring and they were seeking re-election. Other candidates included Ms. Desmond, Ms. Morad, Ms. Muller, and Mr. Rowley. Ms. Desmond is a collections recruiter with banking background and was raised in a family with customer service. The Board should be happy other co-owners want to be involved and new opinions are good. She is disappointed with Management s service, had some issues that were finally resolved, but took a long time. She plans to live at Williamsburg for a long time and wants the Association to be successful. Director Grimm President Weston advised he was very upset he could not be present. He voluntarily commits many hours of his time working on the grounds with Mr. Dillon and the gardener, usually hours per week, and he is owed lots of credit for how great the grounds look. Director Mistor enjoys serving on the Board, believes they are going in the right direction, and acknowledged improvements are needed. Ms. Morad Ms. Morad could not be present. Ms. Desmond advised she is an event planner for Children s Miracle Network and wants to be more active. Ms. Muller lived at Williamsburg six years, produces events for the automotive industry, and placed a flyer in every door of the buildings she did. She requested to attend a Board meeting that was canceled and was not notified. She is very frustrated with Management, wants a better understanding of services they provide, and better response time. Some gigantic infrastructure projects need to be done and at the current rate of saving, funds won t be available. Director Neely was appointed by the Board to fill a vacancy. She is a property manager for a huge company in the area and manages over 2,000,000 square feet and budget of over Fifty Million Dollars. She understands the concerns, especially financially, has the co-owner s best interest, and Williamsburg is an awesome community. Mr. Rowley served as president of an association in East Lansing and grew up in a construction management family for over 30 years. He is well versed with condominium problems, including funding, and is the Director of Operations of Jamison State Bank in Flint. He believes there is lack of transparency and communication, it is very difficult to attend Board meetings, and has requested copies of Minutes and not received. Director Bickelman said regarding transparency, proxies were only delivered to co-owners who weren t Board Members. Co-owners need to reciprocate and communication works two ways. Meetings were moved to Birmingham, with a separate room for privacy, to make it easier for co-owners to attend as well supporting Birmingham.

4 August 24, 2010 Page Four President Weston advised Mr. Rowley previously served on the Board. He only attended two meetings, would not respond, including letters, and had to be removed by the Board. In addition, information is available to co-owners upon request. Mr. Simpson said he served on the Board at that time and was disgusted because Mr. Rowley could not give the time to at least respond. President Weston lived at Williamsburg for 26 years and has thoroughly enjoyed serving as President for five years. The Board is happy dealing with Management, they are pro-active with maintenance issues, internal controls have been implemented for Reserve accounts, and she would like to continue working on projects that the Board started. 8. Inspectors Election Mr. Arnold and Ms. Whiting volunteered to serve as Inspectors of the Election. 9. Door Prizes Thanks were extended to Herriman & Associates and Slade s Plumbing for donating door prizes. Recipients of doors prizes were Ms. Howe (449997), Mr. Trehard proxy (449982), Ms. Sacho proxy (450024), Ms. Kanefsky - proxy (450029), Ms. Herr proxy (449987). Mr. Fridman said co-owners should need to be present to win. President Weston said it is an incentive for co-owners to give proxies. 10. Open Discussion Ms. Sutherland said in defense of Management, she hasn t had lots of requests, but they have been pleasant to work with and provided good response. Mr. Fridman and other co-owners agreed. Ms. Howe had a problem on Christmas Eve and Mr. Herriman responded. President Weston advised the City has a new Police Chief who offered to meet with co-owners to discuss concerns and answer questions. Many co-owners agreed. A co-owner inquired about crime. Director Baxter advised a few vehicles have been vandalized, including a hood ornament, drug dealing issues, and identity theft. -Director Bickelman advised drug dogs were brought to suspicious units and one person no longer lives in the community. -President Weston added co-owners need to be vigilant and report anything suspicious. Mr. Arnold said the City places stickers on doors when the water is turned off, but Slade s doesn t, and he was horrified when he turned the water on. A co-owner inquired about sales prices. Director Mistor advised a unit sold for $44,000. Mr. Chaundy added Management tracks sales information. A co-owner said they appealed their property taxes and were cut in half. Ms. Desmond advised the City is looking at Williamsburg as a whole because the property taxes are so far off. Ms. Muller said Reserve Advisors projected replacement costs in 2006, costs change every year, and are they updated. Mr. Chaundy advised the Reserves Study was originally prepared in 2001, should be updated every few years and is updated as the Board approves, but not every year; however, an independent C.P.A.

5 August 24, 2010 Page Five of Five reviews the Association s records every year. Director Caldwell added roof, brick, and mortar studies were obtained. A co-owner inquired why there haven t been any chipmunks or squirrels. Director Neely advised a hawk may have got them. Ms. Desmond added there was a fox a few years ago. President Weston advised all co-owners should have received the updated community handbook. 11. Election Results Directors Grimm, Mistor, Neely, and Weston were re-elected to serve on the Board of Directors. 12. Adjournment Director Neely moved and Director Baxter seconded to adjourn the meeting. There being no further business, President Weston adjourned the meeting at 8:04 p.m. REVIEWED AND ACCEPTED: President, Board of Directors Secretary, Board of Directors

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