NEWSLETTER FOR MEETING OF OCTOBER 21, 2015

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1 "A self-managed and -run community, composed of a volunteer board that works to keep costs low while striving to enhance property values and provide efficient leadership through open and honest communication." P.O. Box 1195, Hockessin, DE NEWSLETTER FOR MEETING OF OCTOBER 21, 2015 Board Attendees: Jim Coll President...jcoll@birchpointe.net Monica Rieder Treasurer...mrieder@birchpointe.net BJ Reazor MAL t/b/a/..... Cheryl McDonaugh MAL.. cmcdonaugh@birchpointe.net The meeting, held at the unit of new board member Cheryl McDonaugh, was called to order at 6:35 PM / adjourned at 8:05 PM. Board Changes: In light of an upcoming move, it is with sadness that we report the resignation of long time Board member Sal Pauciulo. As president for over eight years, Sal has been instrumental in negotiating with the state and numerous contractors, and seeing many major projects completed during his tenure including extensive road and building improvements. Because of his diligence and devotion to the community, he has been at the forefront in the growth of Birch Pointe and making it a desirable place to live. We truly wish him (and Jane!) all the best in their new home and new life once they do leave. The reins have since been turned over to Jim Coll but Sal has kindly agreed to work with the Board in a quasi-consulting capacity during the transition and to help out as needed. In addition, Carol Winkler Birch Pointe s flowerplanting guru has also tendered her resignation as she and her husband, too, are soon moving away. Over her four years on the Board, Carol has spearheaded several community beautification efforts, often through the reuse and recycling of holiday or seasonal blooms. All those daffodils at the head of Birch Circle will be a warm reminder of how a little volunteerism can go a long way. Thank you to both Sal and Carol for their dedication. Because of these resulting vacant positions on the Board, an appeal was sent out for additional owners to fill the seats. We have been fortunate to have a few willing to offer a bit of their time and enthusiasm to serve. To that end, the Board would like to welcome new member-at-large BJ Reazor; another possible candidate will be sitting in at the next meeting. Assignment of new offices and duties will be firmed up in the coming months. Thank you for coming on board we look forward to the input new members offer! Real Estate Status: Sal and Monica researched a variety of online sites to determine the latest status of the Birch Pointe real estate market. Using resources such as Realtor.com, Trulia, and Zillow, the details for October can be found on our website, The most recent information indicated that there were ten units in the community up for regular sale: two each on Haley Circle and Claremont Court, and three each on Diana Drive and Birch Circle. Two of these had price drops. A short sale unit also remains available on Birch. As for sales, two properties changed ownership in September and a unit sold at a sheriff s auction mid-october. The latter, unfortunately, was for a very low bid. Two condominiums on Haley and on Birch are also under contract with sales still pending. In general, Birch Pointe is seeing more showings and slowly increasing prices. Please inform a member of the Board if you aware of a new listing in Birch Pointe, or if YOU are moving and planning to sell your own condo. Eric is acting as the liaison to provide many of the essential real estate documents, forms, and certifications needed for property transfer. Also, we are happy to report that after a somewhat lengthy recertification and approval process, potential buyers at Birch Pointe may continue to obtain FHA/HUD insured mortgages if needed.

2 Real Estate Status (cont d): As is mentioned in every recent newsletter, it is important to remember and to disclose to potential buyers, either directly by the seller or by his/her realtor that Birch Pointe has a policy regarding investors, a measure designed to protect the interests of ALL owners. If the number of investment owned properties increases, the community can approach an unfavorable rental ratio and future recertification may no longer be possible. The document outlining this policy established in 2013 is clearly outlined on our website. Don t forget that a census form should be completed by ALL owners and/or renters to provide contact information in case of an on-site emergency. Please get in touch with a Board member if one has not been submitted. Collections Report: Collections for September were good, totaling just shy of $93,800. Dues remitted to date in October are $71,000, somewhat low for the latter part of a month. All owners must remember that the HOA dues are the only source of revenue for Birch Pointe and the sole means by which all services, maintenance and utilities are paid. It is vital that delinquent owners address overdue accounts. There were a few sizeable payments made during the month. Most notable was the receipt of $2310 for the back dues still owed from the settlement of a property on Haley. Other larger deposits made in September: one at $1650, another at $1500, two of around $1000, and nine between $650 and $750. As can be seen, owners ARE trying to clear up past balances, several actually now with accounts at zero. Keep up the great work, everyone! Remember, owing HOA fees can have a detrimental effect on the sale of Birch Pointe units. Unfortunately, there still DO remain quite a few accounts which carry significant overdue balances (you know who you are!). Action will be taken if these owners fail to make some effort at a consistent payment plan or schedule. Contact a Board member to discuss your situation. As incentive, a $15 credit is still available to owners new or long-time to enroll in the Birch Pointe ACH program. Consider signing up for this automatic and convenient way to pay monthly dues no more missed checks! Contact Monica for more info at mrieder@birchpointe.net or see our website to download the necessary form. It is every owner s responsibility to pay monthly HOA fees! your due$ = your services Treasurer s Report: The monthly financial report can be found on the final page of this newsletter. As shown, total operating costs for September were $84,000, well within normal parameters. However, the month did have a few unexpected expenditures above the usual budgeted amounts. A total of $13,750 was incurred for contractors on two larger repair projects. These included (1) five sewer drain inlet rebuilds by ProTech ($9,320) and (2) fixing of a water line leak on Birch ($4,430). In addition, two landscaping installments (to Paoli) were paid out during the month as well as one for tree removal (from Moore s). No capital improvements, specifically balcony repairs, were charged in September. ProTech will be back on-site to continue with the remaining work, having been diverted with the drain issues. October and November will witness the arrival of several large invoices including the above mentioned capital expenses as well as the seal coating of Claremont and the paving replacement on Diana. Lastly, current figures for the remaining Birch Pointe accounts, i.e. the Reserve and the Operational Reserve Funds, stand at $254,200 and $55,290, respectively, and are also outlined on the financial summary. Board Discussions: The Board next reviewed details relating to new Birch Pointe capital improvement expenditures. At previous meetings, it was approved for additional funds to be allocated in 2015 for two large scale projects: (1) the replacement of our aging intercom systems in five buildings (by Advanced Security) and (2) the installation of five crank vent windows in building entryways for odor and humidity control (by Price Builders). Both of these undertakings are already well underway.

3 Board Discussions (cont d): Following this, discussion turned to the 2016 landscaping contract. It was agreed by all that Paoli did a substandard job this year and that the quality of the mowing, weeding, trim-ming and general clean-up work was poor. Many complaints were received from owners regarding this. Sal, again, did the legwork investigating several other firms and presented their proposals to the Board. After evaluating some of the specifics and comparing costs, all seemed in favor of giving More for Your Money LLC a try. Their lower bid allowed for the possibility of additional services to be included. On the flip side of this coin is the more pressing snow removal contract. Pricing for the manual shoveling (of the bridges and walkways) proved to be relatively consistent across the estimates received. Plowing, however, varied considerably. All were of the opinion that we again should try More for Your Money and perhaps have the landscaping contract for which there is still ample time for decision contingent on our satisfaction with their winter performance. The mid-size Delaware company seemed eager to please and both Jim and Sal were impressed when speaking with the owner. It is also vital for the upcoming winter that we make arrangements early for our salt delivery. Late delivery last season, compounded with an out-of-commission spreader and maintenance buggy, limited the amount of our treatment Dennis and Eric were able to provide and contributed to a very pricey It is hoped this situation will not be repeated. Finally, a lively dialogue about Birch Pointe parking problems ensued, specifically those encountered on Haley and Claremont. No quick and easy solution is available but the implementation of resident permits will be explored further. Such a program could free up more spaces for residents and limit visitor/guest access to prime areas. We will keep you informed! Things to Note Pet Policies Pick up after your pet! Failure to clean up waste will result in a $50 fine. There has been significant non-compliance seen on Claremont Court, an unpleasant situation for ALL residents. Pets must also be leashed at all times when being walked. Handicapped Parking Observe the handicapped parking spots located throughout the community! They are to be used only by vehicles with the appropriate state handicapped license plates or hang-tags. Birch Pointe reserves the right to remove vehicles not in com-pliance at the vehicle owner s expense. Smoking Policies Smoking is prohibited in all building common areas including hallways and staircases; light up only once outside. Community Traffic Please SLOW DOWN and mind the stop signs! They are put there for a reason. Cars backing out, owners walking pets, people picking up mail all may be difficult to see, especially at night. Be responsible and considerate: obey the speed limit. Avoid having numerous guests park in front of buildings with limited spaces. Remember, also, there are elderly residents living in Birch Pointe.

4 Inquiries concerning Birch Pointe should be directed as indicated below: General Property Management Questions Eric Kennedy phone: (302) ; Jim Coll (Birch Pointe Board President) - jcoll@birchpointe.net Maintenance Issues and Questions Maintenance staff (Dennis, Eric) maintenance@birchpointe.net Account Statements Sal Pauciulo spauciulo@birchpointe.net Monica Rieder mrieder@birchpointe.net Condo Fee Questions / ACH Payment Sign-Up Monica Rieder mrieder@birchpointe.net Birch Pointe Maintenance Emergencies phone: ; maintenance@birchpointe.net

5 September 2015 Financials Operating Account Beginning Balance: $ 78, Inflow Operating Income: $ 93, Inflow One-time Transfers (from ORA*): $ 0.00 Outflow Operating Expenditure: $ 0.00 Outflow Capital Expenditure: $ 84, Outflow to Operational Reserve*: $ 0.00 Ending Balance: $ 88, Target Ending Balance: $ 50, Surplus / Deficit: $ 38, Operational Reserve Account Beginning Balance: $ 55, Inflow Periodic Transfers: $ 0.00 Inflow Interest: $ 3.63 Outflow Periodic Transfers*: $ 0.00 Ending Balance: $ 55, * monies are transferred into/out of Operational Reserve Account (ORA) as needed to cover expenditures, maximizing earned interest Reserve Account Beginning Balance: $ 254, Inflow Periodic Transfers: $ 0.00 Inflow Interest: $ Outflow Periodic Transfers: $ 0.00 Outflow One-time Transfers: $ 0.00 Ending Balance: $ 254, Target Ending Balance: $ 250, Surplus / Deficit: $ 4,200.43