Homeowner Annual Meeting

Saturday May 10, 2025                      9am MT via Zoom

Major Anderson Townhomes
Georgetown, Colorado

 Homeowners in attendance:
Carol Wright, Andrew /Lori Brown, Gary Haines , Mike /Gina Lattanzi, John /Ginger Kennedy , Alice Franks ,Kirstin & Bryn Hindman  ,Kim Mauthe ,Ron & Scarlett Horn, , Pamela McCoy, John /Catherine Buxton

 Proxy:
Jim & Bev Clark

Not Present/No Proxy: John Matisko, Amy & Bernard Friedman, Brian Bailia/Elaine Lukic, Gerard & Marlene Brushaber , Mark/Dianne Harvey , Paula Cox & Victor Hara, Pete O'Neal ,  Shelby Welch, Sheryl Bruton

 Agenda

I.       Call to order/confirm quorum- 9:03 am
Welcome to new homeowners; Thanks to Carol Wright for all her years of service and John K. for agreeing to move into the VP position.

 II.    Review financials and budgetary numbers for 2025 and 2026, including a vote to approve the budget
-Significant insurance increase; luckily with Farmers, secondary providers are even more expensive.  We were relieved that they didn’t drop us, as has happened in lots of mountain communities.
-Big expense last year- deck repair and painting, that line item will decrease 2026
-Legal fees, when we need to consult lawyer
-Trash removal costs likely to increase
-Dues 15%  increase, second of two planned 15% dues increases in order to keep up with reserves (30k) and insurance increases.  Last year we added 24k in reserves.  Per CW- last year used 43k for roof repairs in 2300, part of the reason we need reserves.   We have roof repairs in our future.
-Reserve allocation – had 2024 80k, added 24k, withdrew 21k for painting/repair and 43k 2300 roof,   Roof’s for most part original, repairing as needed, especially if damaged.  60-70% of roofs have been replaced.  It was too costly to repair all at once, as we were trying to avoid a special assessment.
Not a lot planned repair wise this year; we do need to address our dumpster enclosure, approx 5k.  Also gravel repair (general maintenace).
Revised budget (2025), as it is set so far in advance (May) and estimate increases the best we can.  Anticipate 15% increase in insurance.  *We have to be very careful re: claims, any claim could be dangerous.  Needs to be a catastrophic safety issue.*  Our attny is drafting a claims policy stating all need to go through the board.  We also changed our deductible to 10k, we wanted to increase to 25k, but limited by HOA declarations,  It is a big process to change declarations, requires approaval by all owners and mortgage holders (banks).   Would also have to bring up to date with CO statues.  The estimated costs, approx 10k.  Not sure if increasing deductible saves much, but approx. 1k.
Voting to approve 2025 budget = 15% dues increase effective July 1, 2025.  Not a separate vote.
2026 Budget – does not include a dues increase.  Full year benefit of dues increase
ML- approve budget 2025 and proposed 2026, CW second – no objections to either budget. 
All will receive a message from the bookkeeper re: current dues  and increased amount which begins July 1.
Your personal insurance loss assessment clause should cover 10k deductible.  This is if the HOA needs to do a special assessment due to loss due to damage.  Which is not a planned assessment to repair a roof/decks etc..

 III.    Summer Maintenance Projects

-trash enclosure to be repaired.
-driveway- gravel, fix ruts, approx. 3k.  Deciding between gravel and ABC
-Landscape, include loosening fake rock wall (GH)
Will tour complex re: needs to repair/replace facia rock.
-Garage door discussed perennial problem and options.  Perhaps replacing entire garage doors is most cost effective.  Board will need to discuss process, who pays (owners versus HOA), and any criteria re: appearance (colors, materials).  When investigated costs may be approx 3500-4500k.
-Front doors need to stay original wood stain color; AF asked for guidance re: storm door replacement

IV.  Filling board member positions
ML moves John Kennedy VP; CW seconds – no opposition. 
Treasurer – AB terms out next year (2026); need to plan and train incoming person; the bookkeeper manages most of the day to day tasks; role is primarily monitoring and reporting back at meetings.
Will solicit interest, goal to identify someone.

 At-Large – is a one year term; ML moves GH remains, CW seconds, no opposition.

 V.     Other business/adjourn
Discussed property valuation and appeal process and impact on property taxes.
Please share information with ML (president) re: appeal and he can share with homeowners.
Estimated 2025 taxes via the Clear Creek County Assessors site (assessor.co.clear-creek.co.us)

 Questions – trash Monday/Friday
 -Gutter repair needed at 2120
 -reviewed address for HOA dues 
 2100 Thanks to all for good care Ron Horn.

 Adjourned at 10:10am

Next Steps:
Board: Draft and communicate guidelines to owners regarding garage door replacements, front door colors, and storm door specifications
Alice: Research and potentially appeal property value assessment before June 8th deadline
Board: Proceed with road/driveway repair project to fix ruts and erosion
Board: Get quotes for dumpster enclosure repair/replacement
Courtney: Send notice to all owners about the new dues amount effective July 1st, 2025
Gary: Contact construction friend to get quotes for repairing loose fascia rock around the complex
Board: Investigate and get quotes for repairing Kirstin's broken downspout/gutter
Board: Solicit candidates for Treasurer position as Andy Brown will term out next year
Mike: Share with all owners any successful language/comps used in property value assessment appeals
Carol: Resend welcome letter with HOA dues information to Kirsten's correct email

Documents provided -
Budget 2025 and proposed 2026
Dues increase
Proxy form

The current HOA Board positions are as follows:
President   Mike Lattanzi
2nd year for 3 year term, Expires 05/2027, 1st Term, 2 Term Limit
Vice President  John Kennedy
1st year of 3 year term, Expires 5/2028  2 term limit
Treasurer  Andy Brown
3rd year of 3 year term, Expires 05/2026, 2nd Term, 2 Term Limit
Secretary  Rodney North
1st year of 2 year term, Expires 05/2026, 1st Term, 2 Term Limit
Member at Large  Gary Haines
1st year of 1 year term, Expires 05 2026, 2nd Term, 3 Term Limit