NorthPoint II - Annual Association Meeting 2014

North Point II Annual MeetingMonday, March 10, 2014

Please check in and pick up handout materials

Quorum

Except as otherwise provided in these By-Laws, the presence in person or by proxy of unit owners having 33-1/3% of the total authorized votes of all unit owners shall constitute a quorum at all meetings of the unit owners.

AgendaRegistration / Quorum Call to Order Welcome and Introductions Approval of 2013 Minutes President’s Report Budget Election Other business Adjourn

NPII - Your BoardMichael Murphy - President (Term ending)

Kathleen Allison - Vice President

Kristi Meyer - Treasurer

Cheryl Sykora - Secretary (Term ending)

Suzanne Krolnik

Rick Straka (appointed mid-year - replaced Josh)

Trisch Pauers (appointed mid-year - replaced Linda)

Welcome New Owners

Kevin K- W14698 Fairfield Ct.

Vicki B. - W14619 Fairfield Ct.

Bob S - W14662 Northpoint Dr.

2013 Annual Meeting Minutes*North Point II Condominiums

Annual Association Meeting Minutes March 11, 2013

The meeting was called to order at 7:00 p.m. by President, Michael Murphy. Total units represented were 27 (either

by proxy or in person). Board Members Present: Michael Murphy, Kathy Allison, Linda Rocke, Kristi Meyer, John Kerslake, and Cheryl

Sykora. Sue Krolnik was absent. Jo-Ann Wordell was in attendance representing Prospect Management. Approval of the 2012 Annual Meeting Minutes: A motion was made by Patricia Pauers (14696) to approve the

minutes from the annual meeting that took place on March 12, 2012. It was seconded by Kathy Heyderhoff (14572) and unanimously approved by the Association.

President’s Report: Projects completed this past year: • 2 patio repairs completed • Pool - VGBA additional certification by state • Pool – leak fixed • Several patio gates and fences repaired • The sinkhole on fairfield court entrance was repaired last year Planned Projects for upcoming year: • Sink hole on Fairfield Court entrance will be fixed • Roof attic venting. • Mailbox replacement – there are 11 more to be replaced then that project is complete. Mike discussed the following items: • Chimneys – reminder to inspect and clean on a regular basis • 8 unit buildings had the fire alarms tested this summer. • Carbon monoxide detectors as well as smoke detectors are required in all units and should be tested monthly and

batteries replaced annually. • Dryer vent cleaning is the owners responsibility • Units with attached garages have doors into the unit that are fire rated, and need to stay that way. • The association commissioned a report that has some energy efficiency recommendations for your attics: o Air sealing measures – air seal the following areas in the attic with 2-part high expansion foam to reduce heat/air

infiltration into the attic space – interior top plates, fireplace chimney, vent water heater chimney, bath exhaust fans, soil and vent stacks, accessible drop bat soffits, ceiling fans, wire penetrations, and other attic penetrations.

o Insulate open joist area to a R-50 value (in additional to existing insulation) with blown cellulose insulation. o Replace bath fan ductwork.

NPII Annual Meeting Minutes March 11, 2013

Page 2

o Install insulated pull down stair cover. • Spring branch pickup is planned for May after we have our landscape company trim trees. Please pick up any

fallen branches near your unit and haul them to the curb. • Bush replacement (arborvitae) by the pool is planned as a community project and volunteers are needed. • A former homeowner sued NPII Association in small claims court. The claim was that the attic and roof were the

Association’s responsibility and any repairs needed should have been paid by the Association. The ruling was in favor of the former homeowner for the amount of $6,927.93 for the expenses incurred. The Board voted not to appeal due to the legal costs already incurred. It was settled at $6,000 and paid through March 2013.

Financial Report/Budget Approval: Kristi Meyer presented and discussed the proposed budget for 2013-2014. A fee increase of 1% was proposed.

Kristi made a motion to accept the budget to include a 1% increase in fees and no capital improvement projects or special assessments planned for the upcoming year. Ron Gately (14687) seconded the motion. The budget was approved by the association unanimously. The quarterly fee is now $594.00.

Election: An official ballot was presented to the Association with 2 nominees for open positions. The 2 nominees are Kathy

Allison and Josh Kerslake. By unanimous vote the association approved this ballot. These board members are to be appointed at the next Association Board meeting which takes place directly after this annual Association meeting.

Other Business Discussed: • 14696 brought up a problem with dog droppings and to remind everyone to pick up after their dog. However it

has also been observed that people who don’t live in our complex are not picking up after their dogs. • 14696 thanked the board for their hard work and dedication. • Check out http://www.pmcwi.com/. On this website you can submit online maintenance requests, set up

electronic payments, or pay fees online. Meeting adjourned at 8:20 p.m. Respectfully submitted, Linda Rocke Secretary

* this is a summary - Mailed and Printed copy are what we are approving

Board AppointmentsVacancies in the Board of Directors caused by any other reason other than the removal of a member thereof by a votes of the unit owners, shall be filled by vote of a majority of the remaining members at a special meeting of the Board of Directors held for that purpose promptly after the occurrence of any such vacancy even thought the members present at such meeting may constitute a quorum, and each person so elected shall be a member of the Board of Directors for the remainder of the term so removed and until a successor shall be elected at the next annual meeting of the unit owners.

Trisch Pauers

Rick Straka

President’s ReportReview 2013-14 Projects

Introduce 2014-15 Capital Improvements / Planned Projects

Snow Contractor

Cross Connect Inspection

2013 Maintenance review

Community Projects

Capitol Reserve Study

Parking, Garage Doors, Pool, Pets - rule reminders

Capital Improvements / Planned Projects

!

2013-14 Projects

Roof venting/repairs

2014-15 Capital Improvements / Projects

Pool resurfacing

2 patio replacements / Sidewalk re-location

Soffit vent chutes / 9 attic remediations / air sealing

Roof Vents / repairs (2013)

Multiple contractors and expert recommendations reviewed

Decision made to remove ridge vents at peak because they are not as effective for our condo design

Re-install mushroom vents minimum of 4 per unit

Warped and buckling decking replaced/repaired

Project costs were $8500 paid out of operating budget

Pool Re-Surfacing (2014)In the past we have been able to just re-paint the pool but the paint is no longer adhering for more than two seasons

Re-surfacing will last 7-9 years

More expensive but is more cost effective in the long term (painting costs $3000 and only lasts 1-2 years)

Project will cost $6000.00

Note: we received bids for adding cement steps to the pool - the cost for this was about $15,000 - the board does not recommend proceeding with a pool steps project at this time.

Patio Repair (2014)Re - survey patios across complex in spring

2 replacements planned for 2014. Will continue to replace patios in future years

1 Sidewalk will be relocated to improve drainage away from building

vs

Attic (2014)Multiple contractors and expert recommendations sought to determine solution to our attic/roof issues - What are the issues:

Warm moist air from inside our units is getting into the attic space (through bath fans/lights/tops of walls/chimney/attic stairs)

Warm moist air condenses and creates wetness on the underside of the roof

this can cause the roof deck to warp (warping can cause leaks)

possibly the growth of mold

Soffit vents could be clogged or the vent chutes collapsed not allowing for adequate circulation of air from the soffits

Large ice dams and icicles

Attic (2014)The association is responsible for repairs to the Attics based on our by-laws (this was reinforced as part of the lawsuit last year)

What are doing to correct the problem:

Mold remediation for 10 units

Air sealing for 44 units*

this includes a cover for the attic pull down stairs*

Soffit vent chutes replacement/installation/clearing for 44 units

*We will note any units that have had any of this work done previously

Required Attic Costs Air Sealing Measures: Air seal the following areas in the attic with 2-part high expansion foam to reduce heat/air infiltration into the attic space - Interior top plates, fireplace chimney, vent water heater chimney, bath exhaust fans, soil and vent stacks, accessible drop bath soffits, ceiling fans, wire penetrations, other attic penetrations. Approx cost $400 per unit

Install insulated pull down stair cover. Approx cost $90 per unit

Air Chutes replacement / installation / clear. Approx cost $21 per unit

Mold Remediation for 10 units. Approx cost $42,055

* For units that one or both of the first 2 items above are not needed to be done, those units will be reimbursed at the end of the project

We will be voting on a budget to fund this required work later in the meeting

Optional Attic CostsThe contractor that will be performing the Air sealing can also add insulation at the same time. We are not requiring that this be done but we do recommend that you do this. Here are the benefits of doing so:

Reduced heating costs in the winter from using the furnace less

Reduced electricity costs in the summer from running the Air conditioning less

2nd floor is consistent temperature compared with main level

Brings insulation up to current recommended levels for new construction

Lower utility bill year round

Could pay for itself in about 3 years if you save $10 per month on your bill

Insulate open joist area to an R-50 value (in addition to existing insulation) with blown cellulose insulation. Approx cost $400 - this will be paid by the unit owner directly to the contractor

Snow ContractorNew contractor for snow this season

After a very bad start to the season we met with the contractor two different times to address the following key issues:

Timely response after a snow event

Quality of the plowing and shoveling

Snow placement (roadways and driveways not plowed wide enough)

Amended our contract with them to have a clause that if they did not meet the time frames and quality that they would be penalized

Cross Connect Inspection

Letter from Independent Inspections, Ltd

NPII is considered commercial/business

Inspection is initially exterior but may need interior access

Time will be set up with the homeowner by Independent Inspections if interior access is needed

Please report any problems found from the inspection to Prospect Management

2013 MaintenanceMudjacking Potholes Grading Several patio fences repaired Mailbox replacements completed Light bulbs for street lamps Down spout re-directions Punch list updated for upcoming years

Community ProjectsSpring 2014

Branch Cleanup from tree trimming (May)

Mulch replacement work day

Water repaired grass

Painting work days (garage door trim and some fence enclosures)

Spring 2013

Branch Cleanup

Thanks for your support

Capital Reserve Study 2014

To gain a better understanding of our Capital Reserve needs

Long term replacement planning

Improve budgeting process

Avoid special assessments in the future

May result in fees adjustments in the future

General Rules RemindersA unit owner shall not place any furniture, packages or objects in common or limited common elements, except that unit owners may place portable lawn chairs or lounge chairs in and about the pool area provided that they are removed when the unit owner and their guests leaves the pool area. A unit owner may place furniture, packages or objects in the patio or garage of their unit.

Garage doors must be kept closed unless the resident is leaving for a short period of time.

Glass, cans, & plastic should be placed in the marked recycling bin. Newspapers and cardboard should be placed in the appropriate marked recycling bins. Other garbage/trash should be placed in the dumpster.

Outside parking stalls are not assigned to units.

General Rules - Quiet Hours

Quiet hours will be in effect during the following periods: Sunday evening through Thursday evening: 10:00 PM to 7:00 AM Friday & Saturday evenings and the evening before a holiday: Midnight to 8:00 AM

All occupants shall exercise extreme care about making noises and in the use of musical instruments, radios, stereos, & televisions that may disturb other occupants.

During quiet hours there shall be no noise audible outside one's unit.

In the parking areas; excessive noise, talking, slamming of doors, racing of engines, loud use of horns shall be avoided.

Pool RulesReplacement of a lost key will cost $35.00 Restrictions:

NO JUMPING AND NO DIVING INTO THE POOL NO RUNNING IN THE POOL AREA NO “CHICKEN FIGHTS” OR HORSEPLAY Smoking is not permitted in the pool or pool area. No glass containers of any kind are permitted in the pool area. Children in diapers or not toilet trained are not permitted in the pool. Pets are not permitted in the pool or pool area. Persons with open sores of any kind are prohibited from entering the pool. No loud music is permitted in the pool area. No food is permitted in the pool area. No diaper changing allowed on deck. Each pool user is responsible for their actions and should act accordingly. Be courteous of other pool users and residents.

Pet RulesNo animals, livestock or poultry of any kind shall be raised, bred or kept on the property, except that each unit owner may keep one dog or cat per unit and other small household pets (such as fish, canaries or parakeets) provided that they are not kept, bred or maintained for any commercial purposes. !No pet shall be permitted which causes an unreasonable disturbance. !The owner of the unit in which the pet resides shall remove any pet excrement in common elements immediately. !Dogs and cats may not be kept in the common elements and must be kept either in the unit, or patio, or garage assigned to the unit. !All pets should be maintained on a leash while outside of your unit.

Budget Overview2013-2014 we were on budget with minor reductions

- delinquent dues/foreclosures still a problem

- legal fees

- Attic repairs

+ no reserve spending

+ recouped some back dues

Three planned capital projects this year

NPII Balance Sheet March 201403/10/2014 NP01 North Point Townhouses II Page: 1 9:47 AM Balance Sheet

03/10/2014

c/o PMC Prospect Management Company5645 N Green Bay Ave 5645 N. Green Bay Ave.Glendale WI 53209 Glendale WI 53209

March 2013 Actual

ASSETSCash

1110-0000 Operating Cash - CAB 7,601.06 1150-0000 Savings Cash 4 73,472.51

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯Total Assets 81,073.57

Total Assets 81,073.57

LIABILITIES & CAPITAL

Total Liabilities 0.00

CAPITAL3810-0000 Prior Year Retained Earnings 62,447.02

NET INCOME +/- 18,626.55 ¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯

Total Capital 81,073.57

¯ ¯ ¯ ¯ ¯ ¯ ¯ ¯Total Liabilities and Capital 81,073.57

NorthPoint II Dues Historically On an annual basis, members of the Association currently pay $2,352 for Association Dues. This computes to approximately $6.44/day. For that, you get the following services:

• Sidewalks shoveled and salted • Driveways plowed and salted • Lawn care, including seeding, fertilizing, and mowing • Tree care (pesticide and maintenance) • Pool operation and maintenance. • Maintenance/repairs on the exterior of the building • Management and bookkeeping services for the Association • Insurance • Maintenance of common areas (lighting - sidewalks - roads) • Buildup of funds for Major Repairs or Replacements !!!

Additionally, from a historical perspective, the condo dues were as follows:

Fiscal years Fees per quarter 92-93 $270 93-96 $300 97-98 $345 98-99 $375 99-01 $405 01-02 $450 02-04 $480 04-07 $495 07-08 $545 09-12 $560 12-13 $588 13-14 $598 Increases have ranged from $15/quarter to $45/quarter; some increases have been greater than 10% of the previous dues.

Most of the increases have occurred at a 1 or 2 year interval, only one other increase happened at a 3 year interval.

Attic special assessmentSummary of the two options: Either the reserve fund will end the fiscal year with the same amount in it as when we started the fiscal year and the special assessment will be less or we can put $20K in the reserve fund this fiscal year and the special assessment will be higher.

Budget A: Special assessment of $42,940 ($975.90 per unit) that uses this year’s reserve of $20,000 to help fund the cost.

Budget B: Special assessment of $62,940 ($1430.45 per unit) that does not use reserves to fund the cost.

The special assessment can be paid in installments and will need to be paid in full by December 31, 2014.

The last special assessment was in 2010 of $450 for radon abatement

Budget Budget Budget Forecast Budget A Budget BGL Account # Description 2011-2012 2012-2013 2013-2014 2013-2014 2014-2015 2014-2015

Revenue4500-0000 Association Fees 98,560.00$ 103,488.00$ 104,544.00$ 100,430.66$ 104,544.00$ 104,544.00$ No fee change for 14-15

Special Assessment -$ -$ -$ -$ 42,940.00$ 62,940.00$ Remediation*/*Air*Sealing5050-0000 Late Fee -$ -$ -$ 310.00$ -$ -$ 50555-0000 Returned check fee -$ 70.00$ -$ -$ 6240-0000 Fines -$ 50.00$ -$ -$ 5245-0000 Legal Fees -$ -$ -$ 94.11$ -$ -$ 5285-0000 Capital Contribution 1,680.00$ 1,176.00$ 1,176.00$ 2,964.00$ -$ 1,176.00$ assume two units selling5755-0000 Interest on Bank Accounts 160.00$ 200.00$ 200.00$ 275.68$ 250.00$ 250.00$

Total Revenue 100,400.00$ 104,864.00$ 105,920.00$ 104,194.45$ 148,910.00$ 168,910.00$

Expenses6310-0000 Electric Common Area 2,690.00$ 2,690.00$ 2,770.00$ 2,807.45$ 2,770.00$ 2,770.00$ 6320-0000 Gas Common Area 1,230.00$ 625.00$ 600.00$ 495.54$ 600.00$ 600.00$ 6340-0000 Water & Sewer 1,200.00$ 1,275.00$ 1,290.00$ 1,261.55$ 1,290.00$ 1,290.00$ 6410-0055 Attic Repairs 4,000.00$ 23,956.00$ 43,956.00$ $3500*to*reserves*+*Remediation6410-0180 Gutter Cleaning 1,000.00$ 1,320.00$ 1,320.00$ 1,570.00$ 1,500.00$ 1,500.00$ 6410-0200 Gutter Repairs -$ -$ 30.00$ -$ -$ -$ 6410-0700 Roof Repairs 8,500.00$ 8,500.00$ -$ -$ 6420-0320 Electrical 500.00$ 500.00$ 500.00$ -$ 500.00$ 500.00$ 6420-0415 Fences/Gates 500.00$ 500.00$ -$ -$ -$ 6420-0660 Maintenance - General 7,000.00$ 7,000.00$ 7,500.00$ 5,256.07$ 7,500.00$ 7,500.00$ 6420-0725 Patios & Walks -$ -$ -$ -$ 600.00$ 600.00$ Mudjacking6420-0740 Plumbing -$ -$ 300.00$ -$ -$ -$ 6420-0850 Sewer Drain Clean Out 2,400.00$ 2,400.00$ 2,400.00$ 340.00$ 1,000.00$ 1,000.00$ 6420-0860 Snow Removal 21,200.00$ 21,200.00$ 16,775.00$ 16,262.50$ 9,806.00$ 9,806.00$ Full year with new Contractor6460-0050 Landscape Improvements 800.00$ 800.00$ 800.00$ 1,263.61$ 5,000.00$ 5,000.00$ Mulch / Tree trimming / grading6460-0300 Landscaping Contract 11,555.00$ 12,100.00$ 12,100.00$ 12,267.00$ 8,500.00$ 8,500.00$ New Contractor6460-0400 Landscaping Supplies 1,000.00$ 1,000.00$ 1,056.00$ -$ -$ -$ 6470-0400 Pool Maintenance 8,400.00$ 7,000.00$ 7,000.00$ 5,964.51$ 7,000.00$ 7,000.00$ 6470-0415 Drainage Tile Repair 4,000.00$ 7,120.00$ -$ -$ -$ -$ 6480-0200 Alarms & Monitoring -$ 500.00$ -$ -$ 500.00$ 500.00$ Every other year6520-0100 Accounting Services 150.00$ 175.00$ 175.00$ 180.00$ 180.00$ 180.00$ 6520-0220 Banking Fees -$ -$ 20.00$ 10.00$ 20.00$ 20.00$ 6520-0280 Consulting Fees -$ -$ -$ 1,000.00$ 1,000.00$ Reserve Study6520-0480 Reimbursable Legal Fees 500.00$ 500.00$ 2,000.00$ 1,779.92$ 1,500.00$ 1,500.00$ Fewer foreclosures6520-0560 Legal Counsel Fees -$ -$ -$ -$ -$ -$ 6520-0580 Licenses, Fees & Permits 10.00$ -$ -$ -$ -$ -$ 6520-0620 Meeting/Appointment -$ 45.00$ 45.00$ -$ 45.00$ 45.00$ 6520-0680 Office Services 1,400.00$ 1,200.00$ 700.00$ 514.33$ 700.00$ 700.00$ 6520-0770 Sump Pump Refund 600.00$ 330.00$ 330.00$ 330.00$ 330.00$ 330.00$ 6520-0780 Telephone 220.00$ 400.00$ 480.00$ 354.96$ 400.00$ 400.00$ 6520-0786 Radon Fan Refunds -$ 975.00$ 975.00$ 975.00$ 975.00$ 975.00$ 6530-0100 Management Fee 9,600.00$ 9,600.00$ 9,900.00$ 9,900.00$ 9,900.00$ 9,900.00$ 6610-0000 Property Insurance 7,610.00$ 7,610.00$ 7,854.00$ 7,995.80$ 7,854.00$ 7,854.00$ 8500-0100 Reserve 1 Payable 14,045.00$ 18,000.00$ 20,000.00$ 16,500.00$ 55,484.00$ 55,484.00$ Reimburse*Cap*Imprv*(Rsv*20k*@*B)8500-9999 Reserve Transfer Do not Enter Do Not Enter Do Not Enter Do Not Enter Do Not Enter Do Not Enter

Capital Improvements8100-2050 Patio Replacement -$ 4,000.00$ -$ 7,000.00$ 7,000.00$ Sidewalk and 2 Patios8100-2055 Attic Improvements -$ -$ -$ -$ 42,484.00$ 22,484.00$ Air*Sealing/(20K*for*Remediation*@*A)8100-2150 Pool Improvements -$ 1,750.00$ 500.00$ 6,000.00$ 6,000.00$ Pool resurfacing and painting

Total Expenses 100,400.00$ 110,615.00$ 105,920.00$ 98,528.24$ 148,910.00$ 168,910.00$

Net Operating Income -$ (5,751.00)$ -$ 5,666.21$ -$ -$

Continued on next page…




Total Revenue 100,400.00$ 104,864.00$ 105,920.00$ 104,194.45$ 148,910.00$ 168,910.00$



Total Expenses 100,400.00$ 110,615.00$ 105,920.00$ 98,528.24$ 148,910.00$ 168,910.00$





Total Revenue 100,400.00$ 104,864.00$ 105,920.00$ 104,194.45$ 148,910.00$ 168,910.00$



Total Expenses 100,400.00$ 110,615.00$ 105,920.00$ 98,528.24$ 148,910.00$ 168,910.00$


Reserve Cash Flow Analysis2004-05 Actual

2005-06 Actual

2006-07 Actual

2007-08 Actual

2008-09 Actual

2009-10 Actual

2010-11 Actual

2011-12 Actual

2012-13 Actual

2013-14 YTD

2014-15 A

Proposed

2014-15 B

Proposed

Contribution - Special

Assessment - Capital

Contribution - Transfers

$219,606 $43,007 $0 $0 $0 $9,245 $32,292 $14,045 $18,000 $16,500 $58984 $58984

Expenditures $130,365 $181,852 $0 $0 $15,824 $5,300 $27,074 $5,750 $6350 $0 $55484 $35484

Net (negative)

$89,241 $ (138,845) $0 $0 $ (15,824) $3,945 $5,218 $8,295 $11650 $16500 $3500 $23500

Balance 2/28/13 $55,503

Balance 3/10/14 $73,472

Approve Budget

No increase in Dues for 2014-2015 fiscal year

$594 per quarter or $198 per month

Why: Operating costs have gone down Increased need for funding capitol improvement projects We are at the median fee amount based on condo’s in Waukesha county currently for sale under $200,000.

Approving the budget will also approve the special assessment

Budget VoteThe NorthPoint II Board presents for your approval the proposed budget for 2014-2015 that includes three capital improvement projects, no increase in dues, and one planned special assessment.

Budget A: Includes a special assessment of $42,940 ($975.90 per unit) that uses this year’s reserve of $20,000 to help fund the cost.

Budget B: Includes a special assessment of $62,940 ($1430.45 per unit) that does not use reserves to fund the cost.

Board Elections

Cheryl Sykora

Nominations from the floor

Other Business

Questions

Please state name and address

Prospect Management

Reminder - For maintenance and payment issues please contact: Prospect Management

http://www.pmcwi.com/

Submit online maintenance requests

Electronic Payment Agreement for HOA Dues

Or pay online/view statements

(414) 540-0004 - Office [email protected] - Email

http://www.prospectmanagementco.com

mailto:[email protected]

Thank You for Attending!

Mold RemediationN76W14717 Fairfield

N76W14666 Northpoint

N76W14572 NorthPoint


N76W14600 Fairfield

N76W14577 Fairfield

N76W14609 Fairfield

N76W14602 Fairfield



Real Estate

NorthPoint II - Annual Association Meeting 2014