Meeting Minutes

Minutes of the September 27, 2021

Board of Directors Meeting 5:30pm @ River Woods Office

Townhouse Villages at River Woods HOA

Members Present: Marilyn Jenkins, President; April Bowen, Vice-President; Valerie Impagliazzo, David Wahlstrom Anna Goyette, Treasurer, Orbe Walther, and Don Picard, Secretary

Members Absent: Kevin Kresh and Jodi Deneen

Others: Kimberly G. (GM-Office)

Call to order: President Marilyn called meeting to order at 5:30 pm at the River Woods office.

Agenda: Motion April, Dave seconded to approve Agenda for tonight’s meeting as submitted. Approved

Minutes: Motion Anna, Don seconded to approve Minutes for 8/10/20 meeting as submitted. Approved

Business from the floor:

#26 email communication: It is the sense of the Board that the communication about insurance payments past due was professional and direct. Communication to the office is imperative prior to any late payment. The office is happy to work with owners on issues if they know in advance.

Maintenance:

· Pool Closing – The pool has been closed by Horizon & Loren on 9/22/21.

Financials: 2020/2021 Fiscal Year Plan Finalized

· Budgeting review and fee increase - Discussion on the projections for 2021/2022 budget. The replacement for the blacktopping has had to take place 3 years early. The project was scheduled to be completed after roof completion. Roofing project on schedule, completing in 2023. Every part of materials and work has significantly increased in pricing. Paint costs went up 60% and was difficult to even get the product. Motion Don, April seconded to approve final budget as submitted.

· Fee Increase – Motion Anna, Val seconded to increase the association fees from $320.00 a month to $330.00 a month, a 3% increase. Approved

· September and YTD financials – Financials were reviewed. Motion Val, Orbe seconded to approve YTD financials as presented. Approved

Other Business:

· Insurance review –

In 2020 at this time….

Billed to owners $224,899.94 Paid to date $177,567.99 Remaining Due $47,331.95 Balances were due 9/15/20. Late notices went out on 9/16/20. Sarah is sending emails to owners this week who have not made payment.

Current as of 9/27/2021…..

Billed to owners $221,465 Paid to date $152,176 Remaining Due $69,288 Balances were due 9/15/21. Late notices went out on 9/16/21. Sarah sent emails to owners last week that have not made payment. A $25 late fee was added 9/16/2021 and another $25 will be added on 9/30/21.

Next Board Meeting Date: October 26, 2021, at 5:30 at the office

Legal: Late and Legal fee updates reviewed by the Board

Adjourn:

Motion Dave, April seconded to adjourn meeting at 6:24 pm. Approved

Minutes respectfully submitted by Kimberly G. HOA GM

________________________________________________________________________________________________________________________

Minutes of the 8/10/2021

Board of Directors Meeting 8:00 am @ River Woods Office

Townhouse Villages at River Woods HOA

Members Present: Marilyn Jenkins, President; Anna Goyette, Treasurer; Don Picard, Secretary; April Bowen Vice-President, Orbe and Valerie Impagliazzo

Members Absent: Kevin Kresh, Dave Wahlstrom and Jody Deenen

Others: Kimberly G. (GM-Office), Dan Kampf and Julie Ertz KA Insurance via Zoom

Call to order: President Marilyn called meeting to order at 8:00 am at the River Woods Office.

Agenda: Motion Don, Anna seconded to approve Agenda meeting. Approved

Insurance:

Dan from KA insurance covered details of renewal.

· Values were increased on your homes by 3%; constructions costs and material have gone way up.

· $25,000 deductible for all perils, letter will go out to all owners to ensure proper coverage moving forward, it will be sent with September Villager email.

· Unanimous Motion to accept Illinois Union (Chub) Homeland Ins. Comp., Lloyd London cover property

Cincinnati Ins Comp (equip liability and auto and umbrella and work comp), Continental casualty (crime), Hartford Steam Boiler (pool), United states Liability Ins (Directors and officers) – all rated A to A++. Approved

· Invoices will go out by the 16th, and Due date is 9/15/21.

· Tourism – Motion Marilyn, Anna seconded to decline tourism coverage. Approved

· Deductible Motion Anna, Val seconded to make deductibles all at one level of $25,000. Approved

· Am Fam, State farm and Farmers all rejected bids for HOA, too big, too old and too condensed. Open market companies that considered pricing policy….