Marymoor Trails HOA
Board of Directors Meeting
January 21, 2019

The meeting convened at 6:30PM at the residence of Van Chesnutt.  Attending were Tim Hollingshead, Morris Management; Michael Niksa, President; Josh Gibson, Treasurer; Van Chesnutt, Landscape; Linda O’Hara, Secretary.  No Homeowners Forum attendees.

Treasurer’s Report and Financials

The meeting opened with a year-end Treasurer’s financial review by Josh.  The year ended with $36,941.20 cash on hand in checking and $148,839.82 in reserves.

• Good news – the Association ended 2018 under budget for all of the foreseeable expenses:  utilities, maintenance, administrative and management.  In November 2018 we were up $62,000 over November 2017.
• Due to careful management and cost savings in insurance, landscaping and water, we were up almost $14,000 despite unexpected major expenses.  We only took out $108,000 from the replacement fund in 2018 rather than $123,000 as budgeted. 
• Bad news – we had $108,000 in unexpected big expenses in 2018 – decks, Bldg B engineering work.

Tim signed the Association’s engagement letter for the auditor, same auditor and terms as last year.  The Board approved a transfer from reserves for expenses from last year.

Maintenance Report

This is a quiet season for maintenance.  Soon we will draw up a new punch list for 2019.

• Residents may have seen Gene and his crew on roofs removing moss.  Blew leaves off the gutter tops and removed roof debris from decks and patios. 
• Gene’s crew did a fence repair on Bldg L.
• A resident reported water intrusion in the garage. Van visited several times to assess the situation, and no one has been home.  If they call Tim, they will be asked to schedule a time with Van.

Landscape

• Van reports a lot of mossy “green stuff” in front of buildings L-M-N and possibly G-H.  Pressure washing would remove it and remove a slipping hazard when frosty.  Van will have Premier Landscaping inspect all affected areas and pressure wash.
• Hedges between units will receive a major trimming in the next two or three months.  Note to residents:  When front walkway hedges get trimmed, they will be cut back to approximately waist level, to make walkways wider and more even.  After severe trimming they will look bad for a few months, but when they grow back they will look real nice.  Some entry ways are so overgrown, you cannot get furniture in and out the front.
• Landscapers will trim large overgrown bushes between buildings; remove scraggly bushes near the mailboxes; and replace an unsightly bush near L-M.
• Some sprinkler heads will be replaced with low-flow to further reduce water use.
• City of Redmond stormwater inspectors will come out, probably in March. This is mandated every other year.  There is no cost for the inspection, but if they identify drains that need to be cleaned out, that could be a cost.  Drains were pretty good two years ago.
• Van requests authorization for a major project this year — approx. $25,000 to complete drainage projects around I, J, and L. Primary concern is a new drainage channel between Bldgs I-J going down to Bldg L.  This project was identified last year and deferred to 2019 for cash flow.  Original builder’s drain simply ends underground at the rockery near Bldg L, resulting in accumulated wet, rusty goo.  Drainage pipe between Bldgs I-J needs to be extended and connect into drain pipe at Bldg L, with crushed and damaged pipe replaced.

Management Report

• Bldg G alarm “should” be done – Tim has gotten signoff from the city.  The alarm was reporting trouble multiple times a week because of a weak cell signal.  Tyco upgraded the cell antenna to a larger one in early January.  Tim thinks they finally have it fixed – no calls since January 4^th.  Tim will give it another couple of days, before signing off.
• Bldg B update:  Improcon monitoring Bldg B after last year’s work.  The next measurement and report to the Board should be in February or March.
• The Board strongly advocates getting on the schedule early for Casa Bonita to have our painting done in the dry season.  As we did last year, we will walk the property with Casa Bonita, inspect buildings, identify critical areas. 

Old Business

• Borrowing Amendment and Consent Form will be sent out to all homeowners.  This is unanimously approved by the Board and recommended for approval.  We need 60% approval to proceed. Owners may vote by filling out the owner consent form by mail, email or at Annual Meeting. 
• The Board is trying to be proactive, to have this in our pocket in case a large expense arises.  If something big happens, it gives homeowners some flexibility — an option besides a lump-sum special assessment. 
• The Board would like to note that the line “Common Expenses incurred by the association because of the loan shall be assessed against only those apartments and Owner benefitting from the loan” in the amendment consent form specifically refers to the flexibility in paying a lump sum or choosing payments over a term with interest. The “Common Expenses” are the financing expenses and interest accrued in the context of the loan over time and “assessed only against those…benefiting from the loan” is adding the interest costs to the payments only of the units who choose to pay back the loan over time instead of immediately in a lump sum. The Board asked for clarity on this point from Morris Management and our lawyer during the drafting of the amendment and wanted to ensure all Owners were aware of the clarified explanation for the legal description.

Next meeting is Annual Meeting:

• February 25, 2018 at 6:30PM
• Morris Management: 325 118^th AVE SE, Suite 204, Bellevue, WA.
• All Owners are invited to attend