HOA MINUTES
Minutes
Emergency Board Meeting
Walnut Hill Homeowners Association
DATE May 29, 2025
TIME 6:30 PM
MEETING CALLED TO ORDER BY Daniel Tweedy
_______________________________________________________________________
In Attendance
Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman
Not In Attendance
Rob Roth
Welcome To The Board
Welcome Ashley and Shantel to the board. Thank you for joining. We appreciate it. All the minds and help we can get are appreciated.
HOA Financial Landscape
Looked at bank statements and information generated from quick books and tried to come up with a standard operating budget for the HOA. The goal is a solid financial plan. The graph reflects the different expenditures for the year and future forecast to Fiscal Year 2030. This year you can see the pool expense is a driver for the bigger cost increase because there are things we need for the pool. We need pool cover and some other big expenses to protect the investment we have. As of the 26th of May we had $30,3111 in our account. We still have 51 homeowners with outstanding dues for 2025 totaling $17850.00. Projected FY25 not including the 29 homeowners who prepaid their 2025 dues in 2024 is $48,161.67.
The covenants were amended in 2017 stating each homeowner should bare its fair share of swimming pool responsibilities. The projected budget divided by 202 homeowners equals $183.68. This is the amount we believe each homeowner is responsible for.
We acquired a $40,000.00 loan from North Salem Bank in 2024 to cover the pool renovations. This is due July 2025.
The bottom line shows the bank account balance, homeowners with outstanding dues, proposed grandfathered membership dues (this will need to be voted on), operating expenses, variable expenses and loans that are due we are at a -$30,903.34.
Reason For the Emergency Meeting
We have discovered there is a pipe that runs from the clean out point to the bathrooms that was originally installed improperly, and overtime has sagged. We have had this scope twice, and the pipe is beyond repair. It has gotten worse over winter and is sagging. The pipe has to be replaced, and we are looking at a $20,000 cost to repair it. The pipe works but when used to flush toilet paper they back up. It is currently clear. You can wash your hands. We have a portable bathroom for a temporary solution. This has been approved by the Board of Health, but this is only temporary. This is not a permanent solution.
Options
We went to North Salem Bank to see what our options are. They proposed we do a five-year term loan and told us to get quotes for the things we want or need done.
Areas of Desperate Need and Repair
We got quotes for the following repair items; landscaping, fencing, pool house exterior, paving of parking lot, tree trimming and plumbing repairs. The parking lot has a hole that has been filled but the hole keeps returning. The trees need to be removed, lots of waste is coming into the pools, birds nesting in the trees resulting in a lot of bird droppings all over the pool deck. Squirrels are entering the building. The top bar of the fences need extended up because they are no longer at the top. The chain link is the original chain link, and it is old and sagging. The pool quotes received are to make the bathrooms operational. Many of the items that are in desperate repair haven’t been replaced since installation. They are in dire need of repairs.
Option A
Loan amount through North Salem bank for $126,490.25 with a rate of 7.75 (3 ARM – with 2% +/- cap). Term will be 20 years with monthly payment of $1038.42 and annual cost of $12461.04. The loan will address the following needed repairs; fix landscaping, electrical, exterior pool house rehab, fencing, tree trimming, parking lot, plumbing, carry over $20,000 loan balance from 2024 and invoice from Certified Electric for work performed in 2024. We have the income to pay this loan off in five years and there aren’t any prepayment penalties.
Option B
Twenty-year term loan for $240,000 to fix landscaping, electrical, exterior pool house rehab, fencing, tree trimming, parking lot, plumbing, carry over $20,000 loan balance from 2024 and invoice from Certified Electric for work performed in 2024, build a 40 X 60 Pole Barn – Community Center, tennis and basketball court rehab. A community center would create a space for us to hold events all year round as well as rent the facility to homeowners and outsiders for income. It would include a conference room, open area, kitchen and two bathrooms.
Follow-on Actions and topics for discussions
1. Non-Resident Membership $420
2. Replacement card fee costs $15
3. Grandfathered homeowner pool membership fee $183.68
4. Make barn guidelines non-restrictive, eliminating fees, and applications. They would abide by Town of Plainfield restrictions.
- Establish an HOA financial Handbook
6. Pay Certified Electric for work performed in fiscal year 2024 with a loan received for fiscal year 2025.
7. Increase pool membership usage. Currently set at 200 memberships
Time frame for loan
Expected time frame for loan is three weeks. A new appraisal is not required. Underwriting will review the loan.
Motions
1. Tracy Boggs moved to remove guidelines for mini barns. This passed unanimously. (Voting yes: Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman)
- Tracy Boggs moved to make non-resident pool membership $420.00. This passed unanimously. (Voting yes: Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman)
- Tracy Boggs moved to charge replacement pool membership card $15.00 after the initial two each homeowner receives. This passed unanimously. (Voting yes: Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman)
- Theresa Gomez moved starting fiscal year 2026, we will take the operating costs for the HOA and divide by 202 homes, and this amount the grandfathered homes will be charged for pool membership fee to coincide with the 2017 amendment. This passed unanimously. (Voting yes: Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman)
- Tracy Boggs moved to pay Certified Electric for their work from 2024 of $6500 pending our loan approval. This passed unanimously. (Voting yes: Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman)
- Tracy Boggs moved to increase the bylaws to 250 pool memberships with the pool committee outlining the guidelines and application process for members that do not live in Walnut Hill. This passed unanimously. (Voting yes: Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman)
Loan Vote
Walnut Hill Homeowner Association Board voted unanimously to apply for a loan with North Salem bank for Option A. Option A passed unanimously. (Voting Yes to Option A: Gary Boggs Tracy Boggs, Daniel Tweedy, Theresa Gomez, Adam Meeks, Amanda Plunkett, Billy Plunkett, Kristie Heinrichs Eggers, Ashley Abbott, Shantel Anderson, Christopher Denman)
Other topics for discussion
HOA phone number established via google voice.
We need to use Google calendar to track deliverables / projects / Tasks assigned – someone needs to assist with project management and deadline deliverables.
Forms need created in google doc. We need help with this.
Review of committees and budgets need established for each committee.
Meeting adjourned at 8:04 PM