TWIN CREEKS VILLAS HOMEOWNERS ASSOCIATION

Annual Meeting

January 17, 2012

President Jim Colgan called the meeting to order at 6:30 P.M. in the Maple Room at the Hardesty Library. There were nineteen homes represented.

A motion made by Bill Gagle approved the minutes of the 2010 meeting.

Treasurer Bill Rush stated that there was approximately $16,000 in reserves. See attached financial report.

President Jim Colgan reported that the nominating committee, headed by Dave Miller, had nominated two new members to serve on the board: Mrs. Jan Rusher and Mark Davis. There were no nominations from the floor. Both candidates were elected by acclamation. The 2012 Board of Directors are: Kevin Johnson, Mike Bennett, Bill Rush, George Grisaffe, Larry Johnson, Dave Miller, Jan Rusher, Mark Davis and Jim Colgan.

President Jim Colgan thanked the current board members for serving this last year. President Colgan stated that there had been great attendance and participation by the board. He thanked Ron Wadley, who is going off the board, for serving for the past five years.

President Colgan thanked Larry Johnson for reviewing the current restrictive covenants pertaining to roofing material. The shingles referred to in the covenants are no longer being made and the Architectural Committee may wave this requirement so long as it is done in writing, dated and signed. The board believes this technical “glitch” needs to be corrected and during the coming year we will address this issue.

President Colgan reviewed activities for the year 2011:

· Mike Bennett developed a web site for TCV. It is TwinCreeksVillas.info and the user name is TCV and the password is 35Homes. Included you will find copies of the Restrictive Covenants, minutes of the annual meetings, minutes of the Board of Directors meetings, information of interest for the community, and links to the postal service if you want to have your mail held, etc.

· Painted the front gate and the crash gate.

· Corrected drainage along Mingo (Thanks to Tim Smith money was saved.

· Removed a Crape Myrtle that had overgrown the area by the gate—Thanks to Mike & Laurie.

· Power washed the fence along Mingo – Thanks to Mike, Larry J., Kevin J., Neal Banks, & Bill Rush. Subsequently the fence was painted.

· Snow removal was required twice and arrangements have been made for 2012 if needed.

· Curb repair

· Sealed some cracks in the street at the entry (thanks again to Tim Smith for his help).

· Explored change in trash service. The majority of the owners wanted to keep their own service.

· Christmas decorations were put up by Mike, Laurie, Mark, Ron and Jim. Many thanks to Mike for a great job and storing the decorations for next year.

· Thanks to Karen Gagle for her help with the landscaping of the entry.

· Cost of the mowing will stay the same for 2012.

President Colgan reminded us that when making changes to the exterior of your home or property that Architectural Committee approval is required. A copy of the form needed can be found on the website. Also the need for approval includes any work being done between homes where the flow of water would be impacted or where there are to be plantings where the roots might impact the neighbor, or anything that could effect your neighbor’s ability to maintain their home.

President Colgan reminded us that the perimeter fence is the responsibility of the Homeowners Association and funds for repair need to be included in the budget each year. Board member Bill Rush was concerned that we are not budgeting enough reserves to cover the replacement cost, as the estimate for total replacement is $31,000 to $33,000. President Colgan suggested that the 2012 Board allocate $8000 out of current reserves towards the fence and the balance of the cost amortized over the remaining estimated eight-year life of the fence.

Being no further business, the meeting was adjourned at 7:30 P.M. followed by cookies and coffee.

Ron Wadley, Secretary