Reference: April 23 BOD Meeting Agenda
- A report on and action request regarding inadequate funding of reserves for the Common Area (68% level) and The Club at Town Center (50% level). This based on 2012 year end financial analysis.
- Questions/concerns on the basis for proposed modifications to the Country Club Lease Agreement (i.e., substitution of amenities).
- Need for additional security (patrols) given the increase of vandalism and thievery within Somersett.
- A refute of the premise that the $15/mo/unit assessments for the Country Club Lease Agreement is offset by savings in other areas. Rather, savings were not realized and actually cost the association $9.65/mo/unit. This based on 2012 yearend financial analysis.
- A request that a formal report on the status of the Transition Committee Recommendations to the Board be presented at the next open BOD Meeting.
Significant BOD Business Item Results:
- Approved modifications to SGCC Lease Agreement regarding provision of amenities. The 18 hole putt-putt course scheduled for June 30 delivery will be replaced by a 9 hole putt-putt course and a 60’ by 90’ multi-purpose court accommodating both Pickleball and Basketball. Approved extension of delivery from June 30 to July 31. Board president advised they were in preliminary discussions with the SGCC for acquisition of land on which the leased amenities are housed to provide permanent usage by association members. No discussion on any potential SOA financial impact.
- Soliciting bids for Canyon9 path upgrade for ADA Compliance. No current plans to purchase golf carts for use by disabled
- Submitted an offer for purchase of the lot adjacent to TCTC, which was topped by an outside party ($250,000). Stayed any further action (i.e., no counter offer). Will revisit if outside purchase falls through.
- Sale of the foreclosed on 37 VUE lots nearing completion. The due diligence period has expired with purchaser offer still in place. Once purchaser’s architectural plan is approved the sale is expected to close.
- The Groundskeeper was selected as the landscaping contractor for the Somersett entrance area. They will operate under the guide of an SOA Landscape Architect. Work expected to commence in the near future.
- Bids were opened for TCTC painting contract. They ranged from $21K to $41K. Proposals will be reviewed by SOA maintenance manager before awarding.
- No new status to report on SOA litigation issues or access provisions for “Northgate Owners”.
- Ombudsman investigation of homeowner intervention affidavit regarding the SDC Subsidy Agreement was closed in favor of the SOA with procedural recommendations. Intervention affidavit regarding the SGCC Lease Agreement is still open.
- BOD is consulting with the SOA Attorney on areas of potential monetary recovery from the Somersett Development Company (e.g., Reserve funding, TCTC repairs).
A draft of the complete and official BOD meeting minutes will be available on the SOA website (www.mysomersett.com) under the SOA/News and Documents tab. Member Log-in required.