Installed new asphalt.
Saturday, August 30, 2008
Thursday, August 28, 2008
Tuesday, August 26, 2008
Asphalt maintenance to occur
Asphalt resurfacing will occur at the southeast shared driveway area on Wednesday, August 27, 2008. This includes the area which lies east and west between 108th Avenue SE & 106th Avenue SE. Every car must be removed from this road. Before 8:00AM on Wednesday. Any car that is not moved from the road will be towed at the owner’s expense. No exceptions. The road will be closed to thru traffic while this work is in progress so an alternate entrance to the property must be used. [Maintenance of these items is considered a shared expense under the Joint Access and Easement Agreement of 1976 signed by both Kenthill Townhomes and Easthill Apts. If you have any questions regarding this notice or the project, please contact the Easthill Apts. Office at 253-854-1820, as they will be the contact persons for the project. Thank you in advance for your cooperation in this matter].
Thursday, August 07, 2008
Questions
There have been some questions about the July Newsletter. This is what the Executive Summary from the Reserve Study says:
"Based on this starting point, Your anticipated future expenses, and your historical Reserve contribution rate, we are forced to recommend a (multi-year) Special Assessment of $205,000 in 2006 and a Special Assessment of $225,000 in 2007.
"Additionally, our recommendation is to increase your monthly Reserve contributions [now at $2778 per month] to $4,830 [per month]. with annual inflation offsetting increases thereafter [every year, this figure would also increase, to keep pace with inflation]".
This is the first sentences from the letter to the homeowners about the Reserve Study dated September 7, 2006, that was included in the July Newsletter:
"As you may know, the yearly budget is composed of two parts. The first part is the “Operating Account”, in which funds are placed to address monthly billings, utilities, etc., as well as maintenance issues such as lights, landscaping, etc. The second part is the “Replacement Reserves” Account."
So the $2,778 is what we were putting away over in our Reserve Account each month, saving it up, for things like a roof, etc., after we paid off all our monthly bills, like garbage, sewer and water, insurance, etc., out of our Operating Account. The writers of the Reserve Study were saying that's not enough money to be setting aside and saving up each month, and recommended that it be increased by 75%.
"Based on this starting point, Your anticipated future expenses, and your historical Reserve contribution rate, we are forced to recommend a (multi-year) Special Assessment of $205,000 in 2006 and a Special Assessment of $225,000 in 2007.
"Additionally, our recommendation is to increase your monthly Reserve contributions [now at $2778 per month] to $4,830 [per month]. with annual inflation offsetting increases thereafter [every year, this figure would also increase, to keep pace with inflation]".
This is the first sentences from the letter to the homeowners about the Reserve Study dated September 7, 2006, that was included in the July Newsletter:
"As you may know, the yearly budget is composed of two parts. The first part is the “Operating Account”, in which funds are placed to address monthly billings, utilities, etc., as well as maintenance issues such as lights, landscaping, etc. The second part is the “Replacement Reserves” Account."
So the $2,778 is what we were putting away over in our Reserve Account each month, saving it up, for things like a roof, etc., after we paid off all our monthly bills, like garbage, sewer and water, insurance, etc., out of our Operating Account. The writers of the Reserve Study were saying that's not enough money to be setting aside and saving up each month, and recommended that it be increased by 75%.
Reflection
The following is an excerpt from the letter written to homeowners dated November 4, 2006:
We have also included in the 2007 Budget the estimated cost to continue the inspection/repair of dry rot project, the estimated cost to continue the replacement of entry doors/screen doors project, and the continued commitment to have two roofs installed each year (until all 15 building are completed). In September of 2006, homeowners received a copy of the Executive Summary of the Reserve Study for Kenthill Townhomes that included a listing of 29 major line items which the writers of the study deemed as those which the Association should consider beginning funding. It should be noted that with the exception of the continuing repairs to the wood siding and the ongoing commitment to replace two roofs every year, no monies are presently being set aside to fund these listed items. The Net To Reserves line on the 2007 Budget (bottom of page), the line from which these major expense items are typically taken [and not normal monthly maintenance expenses (the Operating Budget)] only rises by $420.In order to address these needs and meet the above stated objectives, the 2007 Budget includes an approximate 10% increase, effective January 1, 2007. The coupons are included in this mailing – please start using the new coupons as of January 1, 2007.
Sincerely,
The Kenthill Board of Directors
The following is an excerpt from the letter written to homeowners dated November 4, 2007:
We have included in the 2008 Budget the continued commitment to have two roofs installed each year (until all 15 buildings are completed) as well as the installation of gutters & downspouts at these buildings. As covered at the 2007 Annual Meeting, the Board has discussed plans to begin the replacement of all the windows in all the buildings (some already have been replaced by individual unit owners in past years), one building a year, until all 15 buildings are completed, at the conclusion of the Roofing Project. However, these plans have been put on hold, as significant dry rot discoveries and their related repairs have taken precedence.
In 2006, homeowners received a copy of the Executive Summary of the Reserve Study for Kenthill Townhomes that included a listing of 29 major line items that the writers of the study deemed as those which the Association should consider beginning funding. It should be noted that with the exception of the continuing repairs to the wood siding and the ongoing commitment to replace two roofs every year, no monies are presently being set aside to fund these listed items. The Net To Reserves line on the 2008 Budget, the line from which these major expense items are typically taken [and not normal monthly maintenance expenses (the Operating Budget)] must at some point begin to increase to meet these other challenges. In the coming years the Association will have to begin to enlarge the amount on this line in order to set aside monies for the funding of major projects (one of which will be the next painting project).
In order to address these needs and meet the above stated objectives, the 2008 Budget includes an approximate 10% increase, effective January 1, 2008. Coupons and envelopes will be mailed out at a later date. Please begin using the new coupons as of January 1, 2008.
Sincerely,
The Kenthill Board of Directors
We have also included in the 2007 Budget the estimated cost to continue the inspection/repair of dry rot project, the estimated cost to continue the replacement of entry doors/screen doors project, and the continued commitment to have two roofs installed each year (until all 15 building are completed). In September of 2006, homeowners received a copy of the Executive Summary of the Reserve Study for Kenthill Townhomes that included a listing of 29 major line items which the writers of the study deemed as those which the Association should consider beginning funding. It should be noted that with the exception of the continuing repairs to the wood siding and the ongoing commitment to replace two roofs every year, no monies are presently being set aside to fund these listed items. The Net To Reserves line on the 2007 Budget (bottom of page), the line from which these major expense items are typically taken [and not normal monthly maintenance expenses (the Operating Budget)] only rises by $420.In order to address these needs and meet the above stated objectives, the 2007 Budget includes an approximate 10% increase, effective January 1, 2007. The coupons are included in this mailing – please start using the new coupons as of January 1, 2007.
Sincerely,
The Kenthill Board of Directors
The following is an excerpt from the letter written to homeowners dated November 4, 2007:
We have included in the 2008 Budget the continued commitment to have two roofs installed each year (until all 15 buildings are completed) as well as the installation of gutters & downspouts at these buildings. As covered at the 2007 Annual Meeting, the Board has discussed plans to begin the replacement of all the windows in all the buildings (some already have been replaced by individual unit owners in past years), one building a year, until all 15 buildings are completed, at the conclusion of the Roofing Project. However, these plans have been put on hold, as significant dry rot discoveries and their related repairs have taken precedence.
In 2006, homeowners received a copy of the Executive Summary of the Reserve Study for Kenthill Townhomes that included a listing of 29 major line items that the writers of the study deemed as those which the Association should consider beginning funding. It should be noted that with the exception of the continuing repairs to the wood siding and the ongoing commitment to replace two roofs every year, no monies are presently being set aside to fund these listed items. The Net To Reserves line on the 2008 Budget, the line from which these major expense items are typically taken [and not normal monthly maintenance expenses (the Operating Budget)] must at some point begin to increase to meet these other challenges. In the coming years the Association will have to begin to enlarge the amount on this line in order to set aside monies for the funding of major projects (one of which will be the next painting project).
In order to address these needs and meet the above stated objectives, the 2008 Budget includes an approximate 10% increase, effective January 1, 2008. Coupons and envelopes will be mailed out at a later date. Please begin using the new coupons as of January 1, 2008.
Sincerely,
The Kenthill Board of Directors