Lake Arbor Homeowners Association Inc 2021 Annual Homeowners

Lake Arbor Homeowners Association, Inc. 2021 Annual Homeowners Meeting

Welcome! � Because of COVID, there is no in-person LAHAO Annual Meeting in January 2021 � This presentation contains most information that Lake Arbor homeowners want to know about the HOA � More information can be found on the 2021 Annual Meeting Resource Page on the website www. lakearborhoa. org � To keep the HOA viable, please pay your 2021 dues using one of the methods described below � We miss you and hope to see you in person at the January 2022 Annual Meeting!

2021 LAHOA Dues � Dues pay for essential HOA functions and, since we cannot collect dues at our usual January meeting, it is very important that you pay your dues as soon as possible � Dues are $35 for the entire year. Paid members receive a discount card for bargains at local businesses; savings can easily offset the cost of dues � Please pay your 2021 dues in one of the following ways: � Paypal – On the website www. lakearborhoa. org, click on the Pay Membership tab. This is the easiest and fastest � By Mail – Fill out the membership form found on the 2021 Annual Meeting Resource Page on the website and mail with a check for $35 to: LAHOA, PO Box 745942, Arvada CO 80006

Arvada City Briefings � City officials have recorded their presentations especially for Lake Arbor homeowners. See the 2021 Annual Meeting Resource Page at www. lakearborhoa. org � For more city information on city activities, contact Arvada officials: � District 1 City Council member Nancy Ford nford@arvada. org � Other officials: see the Department Directory at www. arvada. org � For more information on single-hauler waste hauling: � City: search for waste hauling at www. arvada. org � Lake Arbor HOA: read our position at www. lakearborhoa. org

Approval of 2020 Annual Meeting Minutes � The draft 2020 minutes have been posted on the website www. lakearborhoa. org since January 2020 for review and comment by homeowners � In the absence of any corrections – and per the inability for the membership to approve in person due to COVID - the 2020 Annual Meeting minutes were approved by the Board

The 2020 Lake Arbor HOA Board President – Craig “Bubba” Campbell Vice President- Vacant (looking for a volunteer!) Secretary – Gary Osburn Treasurer – Don Lemek Covenants / ACC Chair – Dinky Leigh District One – Bev Rutten District Two – Phil Goodman (assisting ACC chair) District Three – Steve and Rebecca Weatherton District Four – Jenny Felice District Five – Mike Klein Membership Chair – Steve Shellenberger Communications / Website Chair – Pete Galvin Title Compliance Chair – Lori Brown Bookkeeper – Dinky Leigh The board thanks Jack Tillman for his service as president the last 3 years!

Board Responsibilities � All LAHOA officers and board members are volunteer Lake Arbor homeowners. We do not have a paid management company. � Most board positions are self-explanatory from their title � Title Compliance Chair: � Monitors real estate listings for accurate data relating to Lake Arbor � Contacts Realtors to correct inaccurate MLS information � Works with Realtors & title companies to ensure buyers know about the HOA and the mandatory Covenants � Collects dues from new homeowners via closing companies � Sellers should alert their agent of the existence of LAHOA and existence/mandatory nature of the Covenants

District Representatives �District Representatives are key to HOA success and are greatly appreciated!! �DRs work with the Covenants chair to identify Covenant violations and take enforcement actions �DRs also work with the Architectural Control Committee chair to review and approve architectural change applications from homeowners �Please contact covenants@lakearborhoa. org if you wish to volunteer as a district rep

Lake Arbor HOA Districts

Review of 2020 Activities �Covenants Enforcement and Architectural Review �Had to cancel the annual Easter egg hunt and pool party due to COVID �Continued work with City of Arvada and APD on traffic, thefts, and city code violations in Lake Arbor �Sponsored 4 cleanups of Discovery Trail in Lake Arbor �Won 4 th place in the Arvada 2020 Neighborhood of the Year competition Award (Lake Arbor won 3 rd place in 2019)

Review of 2020 Activities �Restored neighborhood sign on Chase Dr. near the bike path �Endorsed a homeowner’s proposal to build a bike park at the Pomona Parcel. Plan may expand to include a dog park and community garden. �Conducted the annual holiday lights contest (results below) �Maintained and improved the website www. lakearborhoa. org, including an expanded FAQ section and sent out many informative emails

Covenants Enforcement & ACC Summary � Over 200 violation notices were sent & 52 “beautiful home” thank-you cards � Approximately 14 Architectural Applications were reviewed � Most common covenant violations: � � • Trailers stored in driveway RVs and boats stored in driveway Debris stored in front/side of house/fencing Trash cans stored in front of fence. Most common City Code violations: • • • Inoperable cars parked or stored in street view Weeds of excessive height Street parking of trailers and RVs By law, compliance with the Covenants is mandatory for all homeowners, whether or not HOA members

2020 Holiday Lights Winners � 1 st Place - Sandra & Raymond Koons ($50) � 2 nd Place – Nora & Edwin Herring ($45) � 3 rd Place - Emily Brawner & Stephanie Allen ($35) Honorable mention: Theodore & Barbara Groves, Michael Kochevar, Michael & Marcy Granner If paid HOA members, winners receive the cash amount listed. If not a paid member, winner receives an HOA membership ($35 value) and the remainder in cash. Winners are ineligible the following year to give more people a chance to win.

Lake Arbor 2020 Real Estate Report January 1, 2020 through December 31, 2020 � 47 homes sold and closed in 2020 compared to 51 homes sold and closed in 2019, an 8% decrease in sold homes mostly due to a low inventory of available homes. Median sold price in 2020 was $470, 000 compared to a median sold price of $412, 500 in 2019, a 14% increase of the median price Average closed price in 2020 was $465, 951 compared to the average of $427, 384 in 2019, an increase of 9% in average price sold Average price per total square foot for 2020 sold homes was $208 and $182 for 2019, an increase of 14% Average price per square foot above ground for 2020 sold homes was $272 and $250 for 2019, an increase of 8. 8% Average price per finished square foot for 2020 sold homes was $221 and $199 for 2019, an increase of 11% Average days in market for 2020 was only 13 days compared to 23 days in market for 2019, a 43% decrease for days in market Homeowners planning to sell their homes should ensure their agent indicates there is an HOA in Lake Arbor and that there are covenants and restrictions. Not disclosing this information to buyers can be a violation of disclosure responsibilities. Real estate information is provided by Lori of Lorin Properties Inc. , a Lake Arbor based real estate company, using REColorado data. All data is deemed reliable, not guaranteed.

Statement of Financial Position As of September 30, 2020 Assets: Liabilities: Total Liabilities & Net Assets: $ 15, 146. 57 $0 $ 15, 146. 57 For complete financial info, go to www. lakearborhoa. org and click Documents / Financials. 2020 Year-End financials will be posted by 1/31/21

2021 Forecast Activities • Continue Covenant Compliance / ACC efforts • Continue to work with the City • Annual Easter egg hunt at Lake Arbor park (we hope!) • July pool party and expand it to include a car show • Continue Discovery Trail clean-ups • Continue to provide important and useful information via the website www. lakearborhoa. org

Budget for 2021 �About 1/5 of homeowners pay dues even though HOA efforts benefit all homeowners �Annual revenue from dues is about $7, 000 �Major expenses are: �Insurance - $1, 800 �Covenants and Legal expenses $2, 500 �Please pay your Dues as it helps us all ! �A Merchant Discount Card is provided to dues paying members. Savings can easily offset the cost of dues

Approved 2021 Budget �Total Revenue $ 9700. 00 �Total Covenants �Total Membership Services �Total Supporting Services �Total Expenditures $ 4895. 50 $ 540. 00 $ 2589. 60 $ 8025. 10 �Net Income $ 1674. 90

Election of Officers �There are four officer positions up for election each year (President, Vice President, Secretary, Treasurer) �Officers are elected by the paid membership at the Annual Meeting, in normal years �Because an in-person meeting & election is not possible in January 2021, the Board has extended the terms of 2020 officers into 2021, until a new election can take place �The remaining Board positions are not elected, and volunteers are always welcome!

2021 Officers (Terms extended from 2020) �President – Craig “Bubba” Campbell �Vice President – Open (Looking for a volunteer!) �Secretary - Gary Osburn �Treasurer - Don Lemek If you wish to serve as Vice President, please contact secretary@lakearborhoa. org to volunteer. The Board will consider and fill the position on an interim basis until an election can take place.

Feedback �We want to hear from you! �Even though we cannot have an in-person discussion this year, we encourage you to send your questions and respectful comments to secretary@lakearborhoa. org. We’ll try to answer these in a timely manner. �Also see the improved FAQ section on the website www. lakearborhoa. org

Thank You! �We and your neighbors truly appreciate your continuing efforts to make Lake Arbor a great place to live! �Thanks for considering to volunteer for a LAHOA board position �Thanks for paying your 2021 dues �See you next year in person – we hope – at the 2022 Annual Meeting