1. Meeting Call to Order & Approval of Minutes
• The minutes from the September 10th and September 26th meetings were reviewed.
• A discussion about abstaining from voting due to absence, but the minutes were ultimately approved.
2. Financial Report
• Reserve funds at Charles Schwab: CDs maturing in January will be evaluated for reinvestment.
• Interest rates are decreasing, so the board will seek the best return.
• The Treasurer emphasized that past investments in CDs instead of money markets have increased revenue.
• Financial reports were reviewed and approved.
• Delinquency report: No action required.
3. Committee Reports
Architectural Review Committee
• No major updates; no significant requests or actions.
Social Committee
• Planning the “Cocoa with Santa” event.
• Awaiting confirmation from the committee to finalize and send out a flyer.
4. 2025 Budget & Reserve Study
• Reserve study results:
• HOA reserves are at 83% funding, categorized as strong.
• However, the reserve study suggested increasing contributions to prevent a shortfall by 2030.
• Proposed dues increase:
• Original proposal: Increase by $9/month (to $209).
• Board decision: Smaller increase of $5/month (to $205) by offsetting the difference using interest earnings from CDs and bank accounts.
• The board approved this adjusted increase.
• Reserve study was formally accepted by the board.
5. Accessory Dwelling Units (ADU) Discussion
• No major updates; guidelines are still in the proposal stage.
• The ADU Committee declined to hold another community meeting after submitting its guidelines.
• Board debated whether the HOA must amend CC&Rs or simply add an addendum referencing state law.
• The HOA’s attorney will be consulted for clarity.
6. Member Correspondence: Street Sweeping
• A homeowner inquired about additional costs incurred for the extra street sweeping service during 2019.
• The Management Company representative clarified that it does not control or pay for street sweeping—it is handled by the garbage service provider (Republic Services).
• The board agreed to respond to the homeowner with this information.
7. Open Forum
• ADU Regulations:
• Homeowners asked if other HOAs in the area had ADU rules.
• The Management Company representative confirmed no other HOAs have implemented ADU regulations.
• General discussion, but no urgent concerns raised by members.
8. Annual Meeting Adjournment & Officer Elections
• The Annual Meeting adjourned, followed by the Organizational Meeting for electing officers.
• 2025 Board Positions:
• President: William Wesley
• Vice President & Treasurer: Janie Handley
• Secretary: Liz Grisham
• All positions were approved unanimously.
9. Adjournment
• Meeting concluded with well-wishes for Thanksgiving.
