Stafford Oaks Homeowners Association Annual Meeting November 4

Stafford Oaks Homeowners Association Annual Meeting November 4, 2018 1

Agenda • Welcome and Board Greetings • Problems within Stafford Oaks • Financial Status • Rose Pantazis, Attorney at Law • Wrap-up, Comments and Questions 2

Introductions of your Board of Directors • Ken Austin, President • Simon Baldwin, Vice-President • Santana Ascencio, Treasurer/Secretary • Ken Austin, ACC Chairman • Jeff Harrold, ACC Board • Linda Lipscomb, Web Designer/Consultant 3

Problems within the neighborhood • Homeowners/Tenants putting furniture out on street • Littering in the neighborhood • Vehicles speeding/passing stopped school buses • Vehicles, i. e. expired tags, no tags, working on vehicles • Not picking up after you dogs 4

ACC Inspections • The ACC Board will be walking around an conducting inspections on townhomes. If you receive a violation, you will have 30 days to make any necessary repairs. You will be given a date to meet with the Board should you not be able to comply with your repairs. If you do not attend the mandatory meeting, fines can be assessed against your property. 5

Financial Status • As of Nov 3, 2018, we have $51, 156 in the bank accounts • $39, 255 in our Checking • $11, 901 in our Capital Reserve Fund (emergency funds) • Still Owed to HOA $9, 178 6

New Trash Service • Shiffletts Trash • P/U 3 times per week, 2 Trash, 1 Recycle • 13. 25 per month per home • $159. 00 per year per residence • Monthly cost: $1, 802 per month • Yearly Cost: $21, 624 • Cost with County Waste: $20, 244. 00 per year ($12. 40 per mo) • Differences: ……. 7

2018 Projected Expenses for Stafford Oaks HOA • • • • Expenditures: Bank Fees, Quickbook, Gateway $913. 00 Dominion Power $4, 200. 00 County Waste $19, 000. 00 HOA Insurance $1, 800. 00 National Night Out $1, 000. 00 Lawn Maintenance $10, 000. 00 Banquet Hall for Meetings $200. 00 Website Maintenance $500. 00 HOA Supplies $500. 00 Christmas Decorations Winners $175. 00 Attorney Fees $2, 500. 00 Snow Removal $7, 500. 00 Total $48, 288. 00 8

Rose Pantazis, Attorney at Law • The Board will no longer handle any financial or legal matters that cannot be resolved in a “timely” manner • Attorney was officially hired to handle all remaining delinquent accounts and other legal matters for the Association. • Attorney will first serve a “Demand Letter” for collection of unpaid balances in full within 30 days • If not paid, will pursue Stafford County General District Court for Judgments, Garnishments, and Liens on homes • The Board will attend all court proceedings at a rate of $25 per hour, as the legal representation of the Association (Board Resolution 2014 -03) 9

General Discussion by the President and HOA Attorney To Officially State: • The overarching baseline authority of this Homeowners Association shall be the latest version of the Code of Virginia, Title 55, Property and Conveyances, and Chapter 26, Property Owners’ Association Act. • Any conflicts or discrepancies located within the Rules and Regulations against the Code of Virginia, the Code of Virginia shall have precedence. However, the Association may initiate more stringent Rules and Regulations for and upon the Association. • These Codes will be contained within the Association of the Rules and Regulations 10

Wrap-up, Comments and Questions Thank you for your attendance and involvement in today’s meeting as the Board of Directors strive to make our community a better place to live and call home. Comments or Questions? ? ? 11