Capital reserve Highlights.
This past year began looking more clearly at the long-term capital requirements of the property and the cost to maintain them.
Northwood Hills Has 10 condominium buildings, plus a clubhouse and carports, all of which will need new roofs in the next 8-10 years. The estimate to tear off and reroof one building is $30,000.
We have 30 entrance ways with laundry rooms and hot water heaters. The cost to purchase and install a 100 gallon hot water heater is $5,000.
Landscape is older and will need replacement plants & trees.
Milling the parking lot and entirely resurfacing will be in excess of $200.00.
Storm Damage- We retrieved $80,000 from our insurance company and spent over $20,000 on tree removal and planting that were not covered.
Swimming Pool & Hot Tub.
The pool and hot tub
The pool and hot tub are ready to open. We are awaiting an inspection from the Kent County Health Department.
Apparently, there is a backlog of inspection dates. We are stuck waiting for our turn. Weather permitting, we will consider leaving teh pool open after Labor Day to compensate for lost time at the pool.
The Kent County Health Department and Egle (Environmental Great Lakes & Energy) has required Northwood Hills to add both a men’s and women’s rest room with outside access into the clubhouse. The cost will be around $60,000 plus a building expansion to the pool/hot tub building to store the items currently in the garage area of the clubhouse at a cost of $20,000. In addition, we needed to add an outdoor shower with tempered warm water.
Because of the cost and the previous outlay of cash for storm damage, Northwood was granted permission to phase in those facilities over 2 1/2 years The restrooms need to be completed by the next pool season.
Funding
The members of the Association chose to increase the monthly dues from $265.00 to $300.00 versus imposing a one time special assessment of $1,000.00 to each owner. From the$300, 15% will be saved in the capital reserve account for the items previously stated.
Maintenance
Northwood Hills will no longer be providing individual interior maintenance services to owners. Plumbing, heating, electrical, and HVAC contractors will be at your choosing and expense. Any contractors must provide the office with a current and valid license. In addition, Northwood will have to be named as additional insured in their insurance policy.
Exceptions will be for HVAC cleaning of cottonwood seeds each spring/summer. Some minor maintenance may be provided at management’s discretion. Cost is $30/hour by the 1/2 hour.
Monthly Board Meetings
Monthly Board Meetings are held on the 3rd Thursday of each month beginning at 6:00 p.m. until 7:30 p.m. The first 1/2 hour of each meeting is open to association members for discussion. The meeting is then closed to allow the board to proceed with the business portion of the agenda.
Minutes/Budget Reports
The day after each meeting, both the minutes and the budget reports are available at the office upon request.
Parking
During the summer months it is easy to park at the curb. Northwood Hills has 2 1/2 parking spaces for each condominium. If residents move their cars/trucks to the curb, it leaves little to no parking for visitors.
Cottonwood Trees
Each year in the spring and early summer we experience a significant amount of cottonwood seeds floating in the air. They often times get inhaled and then stuck in the grates and water tubes of the furnaces and air conditioning. Both components may burn out your AC unit and may leak down into the neighbor below. Northwood Hills will clean your unit for a charge of $30.00, at which time you can also buy a new filter for $6.00 additional.
In the event you neglect to have this taken care of and your AC unit overflows into the neighbor below, you could be liable for any damage or repairs to their condo.
Don’t pass this up. It is an inexpensive remedy and your AC and Heating system will work more efficiently and last longer.
2024 Board Meeting
January 18, 2024
March 21, 2024
May 16, 2024
July 18, 2024
September 19, 2024
November 11, 2024