Community Building and Pool Meeting Minutes

Hi All-

Last night we met and provided an update on the building out of Block 3 which will contain a pool and a community building. Please see the attached meeting minutes which are also copied below.

Pool Meeting 3.2.17.docx

Thanks,

Michael

 

Master HOA meeting
3.2.17
Attendees:

Diane Soucheray President DRV Master Association
Michael McGuirk DRV Master Association
Jackie Jones Pool Committee Member

Owners from the neighborhood

Call to order – 6:30 pm

Project Scope

  • Estimated timeline of the construction
    • Infrastructure projected to start around the end of March
    • Once finished Building A and the community building will start construction. When the Community building is roughly ¾ complete construction will begin on the pool.
    • Building B will start sometime in the future, most likely dependent on the timeline for Building A and Sales.
    • Pool expected to be mostly completed towards the end of 2017 with a grand opening in the spring of 2018.
  • Estimated Financing
    • Projected Pool Costs around $745,000
    • Master HOA has roughly $200,000 to put towards the project
    • Master HOA will apply for a $700,000 loan expecting not to use the entire line of credit
  • How will this affect my HOA dues
    • Non Affordable Units annual dues would increase roughly $21/month
    • Affordable Units dues would increase roughly $6/month
    • Current Affordable units would not be subject to an increase due to the pool. They would only have an increase due to the property maintenance and costs for the community building.
    • Any Affordable Unit properties sold and purchased by new owners after May 1, 2017 would not have a reduced MHOA dues.
    • We do not anticipate dues increasing until 2018. Interest for the loan in 2017 will be taken out of the reserves.
  • Other thoughts on the dues and increasing the reserve
    • Future residents would have a sort of buy in for the reserves of around $800 when they move into the neighborhood.

Discussions

  • A few people were concerned with where construction people and trucks would be parking
  • They would like to make sure Markel follows the time frame for noise ordinances.
  • What will the rules be for the pool?
    • This will be developed with the help of the neighborhood at a later date
    • A questions arose as to how many quests could be brought to the pool. Again, this would be discussed at a later date.
  • What are the hours of the community building
    • Roughly 8am-9pm
    • The building will not stay open but will be able to be used by both community members and non-community members by renting the space. The rental charge would be less for residents.

 

There was a vote taken as to whether people were 1. Ok with the dues increase and 2. Ok with moving forward on the project. We had a unanimous yes.
If people would like to go to the city web site to look at plans for the site the link is:

https://bouldercolorado.gov/plan-develop/planning-development-and-zoning-maps

Meeting ended at 8:00 pm

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