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July 26th Board of Directors Meeting

The Somersett Owners Association (SOA) Board of Directors (BOD) open meeting is scheduled for Wednesday, July 26th at 5:30 PM in the Canyon View Room at The Club at Town Center (TCTC). The BOD meeting agenda may be accessed by clicking the following link:

July 26th BOD Meeting Agenda

The “Board Meeting Packet”, which contains additional information on agenda topics is not yet available on the http://www.mysomersett.com website. Packet should be available prior to July 26th Meeting date. Owners may access this Packet by logging on to your http://www.mysommersett.com account and clicking on the “SOA/Committees & Meetings” link. This website will also provide an update when the Packet becomes available.

One of the more interesting agenda items is “Acceptance of Resignation’ and “Appointment of Treasurer”. It has been reported that Joe Fadrowsky is resigning as Board Director and SOA Treasurer effective with the July 26th Board Meeting. In this regard, the SOA recently sent out email notices to Association members soliciting candidates to fill the vacancy. The intent being to appoint a replacement after candidate reviews and to announce the new Director at the July 26th Board Meeting. However, this process was scrapped when it became evident that (per the SOA By-Laws) a Board vacancy can only be filled by Association member vote, either in a special election or in conjunction with the annual member elections generally held in October.

The Board has not yet announced how they will proceed with filling the vacancy. However, given the time requirements to conduct Association member elections, it will most likely be conducted in conjunction with the annual October Board elections, the results of which are announced at the November owner meeting with elected Directors taking office at that time. This being the case, the Board will function with only four members until November of this year, placing an unfortunate burden on the remaining Directors. Perhaps future Directors considering resignation can give sufficient notice to allow an election to take place without the Board having to operate with reduced membership for an extended period.

 

The Greens at Town Center

The following obtained courtesy of the “REreno – Hardcore Real Estate News” website:

Town Center TH, LLC (2290 Painted River Trail, Somersett – Mike Pollock, Manager), has submitted an application to the City of Reno’s Community Development Department for construction of “The Greens at Town Center”, a project to be comprised of ten townhouses on ten parcels plus a common area. Site location is the empty 34,900 sq.ft. lot adjacent to The Club at Town Center and the Canyon9 Golf course.

A more detailed description of the proposed project can be obtained by visiting the REreno website post “The Greens at Town Center” at www.rereno2.wordpress.com and downloading Developer application documents. The REreno post also contains additional Somersett Developer information.

The Town Center TH, LLC application references a set of CC&R’s to govern the development.  One might wonder how these will fit in with the SOA having been established as the “Approving Owner” for the Town Center properties with the right to approve building and landscape plans related thereto. That is, does the proposed “The Greens at Town Center” site fall within the SOA jurisdiction?

Somersett Golf Club 2016 Financials

The following table represents a summary of the Somersett Golf Club’s (SGC) revenue and expense data for the years 2010 through 2016 (i.e., as extracted from their required IRS Form 990 submittals). Given the Somersett Owners Association’s (SOA) investment and liabilities associated with the Real Property Purchase Agreement (i.e., as entered into between the SOA and SGC in late 2014), the SGC’s financial health may be of interest to many Association members.

Year SGC Equity Members SGC Total Revenue SGC Total Expenses Revenue Less Expenses SOA Revenue Contribution Notes
2010 188 1,990,652 2,550,940 -560,288 0 1
2011 152 2,087,950 2,715,815 -627,865 0 2
2012 129 2,645,620 2,613,692 +31,928 435,000 3, 4
2013 115 2,918,754 2,815,109 +103,645 440,000 4
2014 194 2,729,114 2,695,062 +34,052 360,000 4
2015 220 995,670 2,581,250 -1,585,580 2,750,000 5,6
2016 241 2,611,329 2,664,450 -53,121 0  

 

Notes:

  1. Year in which the Somersett Development Company accomplished early turnover of the SGC to its Equity Members.
  2. First year in which the SGC was run entirely by Equity Members.
  3. In late 2011, the Developer SOA Board voted to divert $15/month of homeowner assessments to the SGC via a “Lease Agreement” in exchange for some SGC access amenities. Agreement was to run for three years starting in January 2012 with optional 3 and 4 year renewal periods. Purpose being to offset SGC operating losses.
  4. SOA Revenue Contribution column represents the approximate revenue the SGC received in 2012,2013 and 2014 from the SOA under the Lease Agreement described in Note 3 above. 2014 was the last year under this agreement after being declared improper by the Nevada Real Estate Division.
  5. In late 2014, a SGC Real Property Purchase Agreement was approved by SOA owner majority vote. Under this agreement, the SOA purchased the SGC land and water rights for $2,750,000 with a subsequent leaseback of the land and water rights to the SGC at a base rate of $1000/year (subject to escalation) plus a fixed rent amount of $1200/year. Lease term is for 50 years with two SGC optional 20 year renewal periods
  6. The SGC 2015 negative revenue less expense amount primarily due to the $2,750.000 sale price income (see Note 5) minus a reported sales expense (asset loss) of $4,294,781.

For those who may wish to delve into the revenue and expense financial details (e.g., memberships, golf operations, food & beverage, employees, etc) as well as assets and liabilities, a copy of the SGC’s IRS Form 990 may be accessed via the following link:

SGC 2016 Form 990

Wildfire Fuel Assessment & Community Wildfire Protection Plan

The Somersett and Sierra Canyon Owners Associations had retained Resource Concepts, Inc (RCI) of Carson City to evaluate existing fuel hazards within the Somersett Community and to provide recommendations and priorities for fuel reduction treatments to reduce the threat of wildfire.  The result being preparation of the subject report, “Wildfire Fuel Assessment & Community Wildfire Protection Plan (CWPP)”, which has subsequently been approved by the Associations.

This report should be of upmost interest to Somersett residents, especially those in close proximity to open areas.  To read the RCI report it its entirety, one may click on the following link:

Wildfire Fuels Assessment & CWPP Plan

Table 2 within the RCI report identifies priorities and recommended treatments for specific Somersett neighborhoods. A map of the referenced neighborhoods may be viewed by clicking on the following link:

CWPP Map

June 28th BOD Meeting Summary

Somersett United

Following is a recap of some of the more significant issues discussed and or approved at the June 28th Somersett Owners Association (SOA) Board of Directors (BOD) Meeting. See previous posts for a full list of agenda items.

 FirstService Residential (FSR) SOA Staff

Tracy Carter was introduced as the new FSR General Manager for the SOA. Tracy has been on board for about two weeks and can be reached via email at:  tracy.carter@fsresidential.com. The Board reported that all FSR staff positions are now filled.

 Homeowner Comments

Back Nine Trail residents objected to the construction of new homes in the neighborhood whose design did not fit in with the existing neighborhood design environment. Questioned who made up the SOA Aesthetic Guidelines Committee and what could be done about it.  The BOD was not able to provide a definitive response to the later.

 Note: For those interested, suggest accessing the “Somersett Aesthetic Guidelines” document via the following link:  Somersett Aesthetic Guidelines

 Concerns were expressed over the  lack of supervision in the swimming pool area regarding: 1) inappropriate and repeated behavior of children who are not adequately disciplined by pool staff. Suggested banning repeat offenders from pool use for an appropriate period of time, 2) contamination incidents regarding small children who “poop” in the pool resulting in its closure to sanitize.  Suggested that repeat offenders who do not properly cloth their children to prevent this occurrence be assessed the cost for sanitation.

 Note: Subsequent to the BOD Meeting, a “Somersett Happenings” email was sent to residents with the following statement; “Children wearing diapers must have vinyl pants over the diaper and under the bathing suit. The Club reserves the right to ask a child be removed from the water if he or she is not wearing vinyl pants”.

 A lack of response to a  homeowner letter was noted, letter complained about lots adjacent to his property with dense foliage constituting a fire danger and why nothing has been done to correct the situation. BOD responded that his letter was being addressed, but that Nevada law prevented the SOA from publicly revealing any actions being taken by the SOA against owners for non-compliant situations.

 Due to the predicted large expense facing the SOA for hillside and rock wall repairs resulting from winter storms, a resident questioned what the SOA total liability may be, and how this expense would be covered (e.g., from reserves, special assessments, etc.). Also, as to what liability the Country Club had in this regard given that a large portion of the projected cost is on land leased to the Country Club by the SOA.   The BOD said all these issues were under discussion and action, but to early to report on.

 Association Business

There was no update on legal issues facing the Association.

The Somersett  “Fuel Assessment  Report” (fire suppression) from RCI was accepted and approved by the Board.  Project priorities are being established.  Ryan Dominguez is the FSR Project Manager for this activity.  Ryan can be reached via email at:  ryan.dominguez@fsresidential.com.

Seth Pandovan (SOA Consulting Engineer) provided an update on hillside and rockery wall repair projects.  The Board commented that rockery wall failures on owner property were not the responsibility of the Association to assess.

The Board accepted the Ad Hoc Traffic Study Report, and advised they were also considering some additional signage not addressed by the report. No schedule was given for implementations.

 The Board approved ~$140K for refurbishment of the TCTC Great Room, Canyon View Room and Media Room along with some window blind replacements.

 The Board approved a $14K proposal to survey, map and document (digital format)  all rockery walls within the SOA Common area.

 The Board approved a request from Developers to produce a Somersett aerial and TCTC 3D tour video for marketing purposes.

 The Board referred to the Communication Committee a request by the Country Club to provide some sort of homeowner survey.

 Common area ditch repair and maintenance as well as the Canyon9 pond cleaning was deferred pending additional information.

June 28th BOD Meeting Agenda Additions

Somersett United

The Somersett Owners Association (SOA) Board of Directors (BOD) open meeting scheduled for Wednesday, June 28th has had an agenda change from that published in the previous post.  That is, the following agenda items have been added:

  •  Ditch Repair & Maintenance (Sealed Bids)
  • Overall Rockery Wall Survey Proposal
  • NCE Army Core Permit Proposal
  • SOME Golf and Country Club Survey Request

 Since the SOA did not publish a “Board Meeting Packet” this month for the June 28th Meeting, details associated with agenda topics were not available for member viewing.  This is unfortunate as these Board Meeting Packets are helpful in assisting the development of homeowner comments on agenda items, which can be presented at the onset of the meeting prior to formal discussions and/or approvals by the Board.

 

June 28th SOA Board of Directors Meeting

Somersett United

The Somersett Owners Association (SOA) Board of Directors (BOD) open meeting is scheduled for Wednesday, June 28th at 5:30 PM in the Canyon View Room at The Club at Town Center (TCTC). The BOD meeting agenda may be accessed by clicking the following link:

June 28th BOD Meeting Agenda

A “Board Meeting Packet”, which contains additional information on agenda topics is not yet available on the www.mysomersett.com website.  Packet should be available prior to June 28th Meeting date. Owners may access this packet by logging on to your www.mysomersett.com account and clicking on the “SOA/Committees & Meetings” link.

D’Andrea Golf Course Redevelopment

Somersett United

The AtrowCreek 411 website recently posted an article on development plans for the defunct D’Andrea Golf Course property.  Plans include a nine hole golf course, a practice facility, an events center and single family residential units. To read the article in its entirety, click on the following link:

Redevelopment of D’Andrea Golf Course in Sparks is Moving Forward

A detailed description of the project may also be accessed on the Developer’s (D’Andrea Rising) website at:

www.dandrea-rising.com.

Interesting concept, perhaps facets of which the SOA should keep in mind should a similar unfortunate fate befall the Somersett Country Club.

Saving Energy In Somersett

The following submitted by Geoffrey Brooks – Somersett Association Member:

The Sun can Shine on Dove Mountain Ct in Reno – Cheap at the Price!

NV Energy are offering free energy inspections of your house. I had my house inspected – and – perhaps not to my surprise, it was well built and had “extra” insulation in the attic. (About 16″)

In the basement the stub walls were protected with vapor barrier and insulation. Even the heating vents were insulated.

Areas of concern were the windows, especially our west facing upper windows, where the seals have failed – letting in air – and when we have rain, water as well…a more frequent occurrence this year, possibly due to La Niña (cool central Pacific water) not being so cool! Consequently the rainy/snowy weather typical for the NW States (WA and OR) in the winter, came South to Reno and the Sierra.  Le Nino (hot central Pacific water) again in August?

They also will install a free programmable thermostat, to maximize the efficiency of the HVAC systems.

Our house has a 41KWH Solar array, which since NV Energy have been crediting us 8 c/KWH, means that our total gas and electric bill was zero for 9 months in 2016. We still have to pay a $20/month access/ hook-up/maintenance to the electric grid.

Most folks don’t think that this is a good financial investment, especially as government tax credits means that many are unfairly subsidizing the few (NV energy and the NVPUC believe this – shame on them, as this absolute nonsense!)… so lets see how the economics really work.

The cost of the array was $41,000.   (A penny a watt)

Over three years we have generated 42KWH/day winter/summer- rain/shine – clouds/cloudless!

That is $1,765 worth of electricity at 11.5 cents per KWH (the published rate). NV Energy would pay me if I “used none” $1,270. This is a return on my investment of 4.3% – pretty good – assuming market value for my power.  (At my net purchase price this is a 3.1% return)

However, I had a 30% subsidy from the US taxpayer ($12,300), so my array only cost $29,000. Based on generating $1,765 electrical value, my return is 6.1% – even better. Granted it will take me 16.5 years to “re-capture” my investment. Note, electricity in CA sells for 20.0c/KWH in SF.

NV Energy should be facilitating (through leasing) the installation of roof top solar arrays throughout Reno/Sparks/Washoe County.

There are nearly 200K housing units according to the US Census bureau. If 10% of these had 30KWH solar arrays installed on their roofs, that would be 20K units x 30KWH/day = 600MWH.

North Valmy a coal fired plant (which loses money each time it runs) can only generate 522KWH.

The new Tonapah Crescent Dunes Solar thermal – 110MWH cost $1 Billion to build – it does also have a 1+GWH storage capability as well, so unlike PV panels can run 24/7.

20,000 installations would cost $600,000,000, provide many well paying jobs in NNV and generate electricity into the existing grid. No transmission losses (as can be expected from the Tonopah Crescent Dunes operation). With the largest battery factory (powered by solar) on this planet under construction in TRIC…NV Energy should be able to strike a deal for battery energy storage !!

As a point of comparison, building a Natural Gas Plant with Zero Carbon emissions (CCS) would cost $2.095/watt – so a 600MWH  facility costs $1.2 Billion. If one uses clean coal the cost would be $5.227/watt – so a 600MWH facility costs $3.16 Billion.  

NV Energy by investing in building on Washoe Rooftops should be able to get back $200,000,000 from the Federal government – if they start NOW.                                                                                           

The really good news the electricity from roof-top solar is “free”. If one burns natural gas you still have to pay 2.5cents/KWH.

References: US EIA March 2016, Crescent Dunes Power Station, Valmy N Power Plant                                                                                                                                              

May 24th BOD Meeting Summary 

Somersett United

Following is a recap of some of the more significant issues discussed and or approved at the May 24th Somersett Owners Association (SOA) Board of Directors (BOD) Meeting. A slightly revised agenda from that previously posted was used.

FirstService Residential (FSR) Management Introductions

Tracy Carter (not present) was introduced as the new FSR General Manager for the SOA and will be on board shortly. (Note that“General Manager” replaces the previous “Community Manager” title).  Bernadette Rodas was introduced as the new Assistant General Manager.

Old Business

The anticipated Somersett Fire Suppression Report from RCI was not discussed as this report has apparently not yet been finalized. It will also be removed from the Town Hall Meeting Agenda.

Seth Pandovan (SOA Consulting Engineer) provided an update on the SOA common area rock wall and hillside damage projects resulting from the winter storms.  Bottom line, significant repair work will be required, which will be very costly to the SOA.  No total liability estimates were presented.

New Business

Some minor hillside repair work off of Saddle Tree Trail was approved. Total cost ~$5K.

Repair and maintenance work on various Somersett drainage ditches continue.  The BOD approved an additional $14K for this work.

Discussion on the the Canyon9 Hole Pond Dredging Project was tabled until next month to allow time for additional assessments on how to proceed.

The Club at Town Center (TCTC) Canyon View Room Loft Glass Enclosure project was approved.  Total cost ~$10K.

TCTC Conference Room, Craft Room, and Game Room modifications (e.g., conference table, chairs, cabinets, counter tops) were approved.  Total cost ~$17K.

TCTC Spin Bike and Stairmaster purchases were approved.  Total cost ~$21K

Homeowner Comments

A Somersett resident questioned the ability of the Somersett Country Club to offer memberships to TCTC (i.e., for those Country Club members who are not Somersett residents).  It was pointed out that the Somersett CC&R’s (Article VII, Section 8)  have always permitted such memberships, which also include access to the Canyon9 golf course.  The BOD establishes the fee payable to the SOA for such membership, currently $90/mo.  If the Country Club collects any additional fees, it was not known. These members (approximately 20-25 in number) are subject to the same rules and regulations as regular Association members.