LAKESHORE WOODS ASSOCIATION, INC.
Minutes of the 16^th ANNUAL MEETING
May 28, 2005
Location: The Pavilion
 

The Association President, Jim Hogan, formally opened the meeting at 11:15 A.M. and welcomed new and returning members.  It was determined that there was a quorum of Members necessary as specified in the By-Laws of the Association.   The following lots were represented at the meeting:  1, 2, 8, 9, 10, 12, 15, 17, 19, 26, 27, 28, 30, 43, 45, 46, 47 & 53.

Minutes of 2004 Annual Meeting had been posted on the website and copies were made available at this meeting.  A motion was made, properly seconded, and unanimously affirmed to approve the prior year’s meeting minutes.

Treasurer’s Report

The Treasurer’s report showed a Balance of Funds of $38,404, as of May 28, 2005.  We have accounts receivable of approximately $3,491 from annual dues and late fees from Lot 44 which has been accruing for several years now.  In addition, there was approximately $577 of accrued, but unpaid, CD interest.  A Statement of Revenues & Expenses (Year-to-Date), Budget Status Year-to-Date, Balance Sheet, and 10-Year Financial History (1995-2004) were distributed.   

President Hogan noted to the group that the Association maintains separate reserves for Operations, Common Areas, and Roads, to which any budget surpluses are funded at the end of each fiscal year.

The Treasurer reported the recently completed landscaping work around the pavilion area was a decision made after the 2005 Budget was approved and will be funded from the Common Area Reserve Fund.   There are currently no needs or plans to change the annual dues.

There was a question of the coverage provided by our insurance policy, specifically Directors and Officers Liability (which we have) and property damage coverage for the common area structures (which we also have).  We also have General Liability insurance for the Association.

Election of New Directors

President Hogan reported that there were 4 open director positions; 3 positions were turning over on a normal cycle, and one additional position to fulfill the remaining term of a departed member.  Since 2 of the board members whose terms were expiring had agreed to serve again, and there were only 2 other Members who had formally expressed interest in serving on the Board, a nominee was made, properly seconded, and unanimously affirmed to name incumbents; Guy Siebold and David Weisman, and new members; Lorie McMillen and Jerry Perkins, to the 2005-2006 Board of Directors.

President Hogan acknowledged the many contributions of departing board member, Jerry Daughtry, who was currently in the process of selling his Lakeshore Woods home and with plans of moving to South Carolina.

Report of the Environment Control Committee

Jay Youngquist, as a member of the ECC, reported on behalf of ECC Chairman Frank Dietrich.  He distributed an information sheet showing the current activity in lot sales, ownership, and construction.

Jay indicated that there has generally been good compliance to the Covenants and there had only been a few instances that we have had to enforce.

He outlined the various accomplishments over the past year, which included; paving, mowing contract, port-a-potty installation, picnic tables and umbrellas, landscaping and curbing.  Near-term needs include some decking board maintenance and re-treatment of the decks and pavilion.  There was a general feeling expressed to leave the “island” area near the pavilion as a parking area.

Michael Organ distributed a drawing prepared by NOVA EZ Dock depicting a plan for a replacement right-hand pier with 23 boat slips and 5 PWA slips.  The Common Area Task Force that Michael had been chairing has been considering ways to relieve some of the ever-expanding space and access problems in the slip area.  The plan provided for longer fingers dividing the boat slips and more width for each slip.  It would require a larger footprint which would need the approval of Dominion Resources.  The price was $65,150, which did not include the demolition of the existing structure, but was assumed to include the installation costs of the new structure.  The plan looked to have considerable merit will be reviewed in more detail by the Board, along with other related issues such as funding, approvals, and slip re-allocation.    

New Business

Since there have been several recent requests by Members to reserve the Pavilion for their private functions.  There was a discussion about whether the area should remain available to all Members at all times, or whether we should develop a mechanism to do these reservations (.e.g., thru the website).  Several divergent opinions were expressed.  President Hogan said that the issue will be further discussed by the Board and will be reported back.     

There was a discussion of Lot 11, which by the plat drawings is a lot having waterfront footage very similar to Lot 23 (and there is now a dock on Lot 11).  The issue is that Lot 11 is not designated as “waterfront” in the existing Lakeshore Woods Association Declaration of Protective Restrictions and Covenants (ref.  Article II-D.1) apparently due to an error related to a change to the plat drawings and/or Covenants that was not recorded.  They are currently not consistent.  A motion was made, properly seconded, and unanimously affirmed by the Members in attendance to amend the Covenants by adding Lot 11 to the list of “WATERFRONT LOTS” listed in the above referenced Covenant.  There not being a majority of owners of the lots in attendance at the meeting.  The Secretary-Treasurer was directed to issue a ballot to remaining lot owners to poll their responses.  The Covenants require approval by the owners of a majority of the lots in the Lakeshore Woods Subdivision (ref. Article IX-G) to be amended.

The next Annual Meeting will be held on Saturday, May 27, 2006.

There being no further business, the meeting was adjourned at 12:20 P.M.

Respectfully submitted,

James A. Youngquist
Secretary-Treasurer
Lakeshore Woods Association, Inc.