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Arlington Trace HOA 2019 - Special Meeting Petition

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Purpose: To call a special meeting in an effort to review the Association's current and future financial situation, plans justifying the significant increase in ownership dues and options to mitigate costs. According to section 3 & 4, we required signatures from at least 20% of the total lots which is approximately 15 households.

Audience: Qualified members of the Arlington Trace Home Owners Associate who are current on 2019 dues.

When/Where: TBD after securing enough signatures

How: Each household interested in calling a Special Meeting, please create an account, sign the petition and place your street number and name in the comments for easy reconciliation.

Topics of the Special Meeting

  1. Current financial status:
    1. Budget review of both capital and operational: from closing of 2018 to current month (summary of expenses vs. budget).
    2. Highlight of key expenses in 2019 causing immediate erosion of capital reserves.
    3. Notate any changes in service providers hired to perform standard maintenance.
  2. 2020 ($775) & 2021+ ($550) budget review (5 year plan)
    1. Compare 2020 planned expenses vs. original budget of $375/lot.
    2. Identify & discuss the purpose and intent of additional funds required. I.e. new expenses (known or anticipated)
    3. Review of all competitive bids for additional work/repairs to be performed
    4. Understand how the increased budget was approved. (I.e. who determined the amounts needed, documentation/meeting minutes of a Quorum, results of the vote)
    5. Determine whether 2020 budget increase qualify as a "Special Assessment, subject to approval per Article VII, Section 3.
    6. Impact of higher HOA fees to property resale value in comparison to surrounding neighborhoods.
  3. Options
    1. Discuss the option of a HOA Loan to perform immediate improvements to the walking trail
      1. Would establish a set payback/assessment period budget.
    2. Explore the possibility of alternative revenue streams - open up access to second addition for a fee
    3. Community involvement - Identify planned expenses which could be offset partially or completely through community involvement (i.e. beautification days, clean-up)

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