Christmas LakeVillage

Board of Directors

Monthly Meeting

7/9/20

Pending Approval at August 13, 2020 Meeting

The meeting was called to order by President Bill Conrad andnoted that a quorum was present.

Directors present were Bill Conrad, Rick Humerickhouse, MarkEvans, Larry Ball, Jason Terry, Don Vogel, Matthew Benningfield, JonathanKincaid & Larry Loucka.

There were (19) AssociationMembers in attendance.

Santa Claus Town Council – No representativein attendance.  In the future, a CLV BoardMember will attend the Town monthly meeting and a member of the Santa ClausTown Council will attend the CLV monthly meeting.

MEMBER’S FORUM

Jim Kulbeth – 337 SBalthazar Drive – Addressed the issue of Advanced Disposal, trash pickup and terminatingthe contract.  President Bill Conradexplained that CLV does have a termination clause in the contract.  We have 60 days prior to the end of thecontract to terminate the contract.

READING OF MINUTES

Rick Humerickhouse made a motion to approve the May MonthlyMeeting Minutes.

The motion was seconded by Don Vogel. 

Vote in Favor 7 to 0.

TREASURER’S REPORT– May 2020

Mark Evans reviewed the Treasurer’s report for the month endingMay 2020:

May 2020

Current YTD Income:             $  807,919        

YTD Expenses:                       $   276,222

Current Net Income:               $   531,697

Monies on Hand:                    $374,359.05

Dock Account:                        $  17,795.17

Rec Ctr Account:                    $    8,992.75

Storage Account:                    $  13,452.83               

Capital Improvement:             $  11,002.71

Investment Update:

April Reserves                         $496,594.01

May Reserves                          $512,081.47

The Reserve account saw a gain of$ 15,487.46 from April to May 2020.

Don Vogel made a motion to accept the May Treasurer’s Report. 

Rick Humerickhouse seconded the motion.

Vote in Favor 8 to 0.

TREASURER’S REPORT– June 2020

Mark Evans reviewed the Treasurer’s report for the month endingJune 2020:

June 2020

Current YTD Income:             $  833,346         

YTD Expenses:                       $   345,033

Current Net Income:               $   488,313

Monies on Hand:                    $328,910.43

Dock Account:                        $  19,045.92

Rec Ctr Account:                    $  10,278.15

Storage Account:                    $  13,553.38               

Capital Improvement:             $  11,003.16

Investment Update:

May Reserves                          $512,081.47

June Reserves                          $517,024.43

The Reserve account saw a gain of$ 4,942.96 from May to June 2020.

Don Vogel made a motion to accept the June Treasurer’s Report. 

Jonathan Kincaid seconded the motion.

Vote in Favor 8 to 0.

DELINQUENCY REPORT

Chris Ambs, Property Manager, reported on Assessmentscollected for May & June 2020.

PRIOR YEAR

Prior year assessments collected:

May & June - $ 4,816.21

Total Collected for 2020 - $ 11,267.00

Budgeted Assumption for 2020 - $ 9,060.00

MANAGER’S REPORT

• Real Estate Report – May & June:   9 existing homes & 24 vacant lots changed hands (CLV sold 3 of vacant lots)
• There are approximately 10 homes for sale in CLV 
• There are 20 open construction permits
• Continuing efforts to remove old docks
• Lake treatment results
• Concrete parking pad poured at G Dock; Dock pad to be poured soon
• No fish stocking this year – fish survey scheduled for fall
• Exploring options for storage area expansion on old Hanning property
• Accepting 2021 Budget input

ACTION ITEMS

           

Yard Sale/Halloween Bash/Festival of Lights – The Board decided to goahead with the 2020 Yard sale as planned.  If the State of Indiana changes guidelines, wewill address the Yard Sale again at the August Board Meeting.  Halloween and the Festival of Lights will be decidedon at a future meeting.

OLD BUSINESS

N/A

NEW BUSINESS

• Review “Committee Posture” Rule – Effective date 10/9/2014 – Our Committees are not organized according to our By-Laws.  They are named differently, and some are redundant.  We have come to an agreement on the following Committees:

1.      Rules & Regulations

2.      General Advisory

3.      Budget & Assessment

4.      Executive

5.      By-Laws Additions/Revisions

6.      Nominating & Election Supervisory

7.      Architectural Review Board

Don Vogel made amotion to follow the By-Laws and use these Committees as the standingCommittees

Mark Evans secondedthe motion

All in Favor 8 to 0.

• Board would like to have an Events Committee which can focus solely on Events for our community instead of using the Parks & Recreation Committee as an umbrella.

Don Vogel made amotion to create the Events Committee

Rick Humerickhouseseconded the motion

All in Favor 8 to 0.

• Ryan Oberhausen – Fifth Third Securities – Ryan gave all in attendance an update on our Reserves account.  Ryan has been working with CLV since early 2014.

Don Vogel made a motion to follow the 55/45 model of the investmentportfolio

Larry Ball seconded the motion.

All in Favor 8 to 0.

• Ryan went on to discuss the fixed rate annuity that matures in March 25, 2021.

There is $13,725 cash available right now.  If we do nothing, it will get rolled backinto the investment.  It is availablewithout penalty.  The Board discussedusing these funds to start clearing the Hanning Property for the additionalstorage area.

Larry Ball made a motion to use the funds available ($13,725), do notreinvest it, but we retain it for the development of the storage area

Jason Terry seconded the motion

All in Favor 8 to 0.

• Don Vogel addressed the Board about the upcoming County Tax Sale on October 7, 2020.  We will be holding a meeting on August 6 at the Rec Center that is open to the public.  We currently have a building boom in Christmas Lake Village.  There is more construction going on in CLV than anywhere else in Spencer County.  Joe Edwards, with SRI, will be here to talk to everyone about the tax sale process.  He will answer questions on how CLV can get the lots away from the county tax sale and into a certificate or sheriff sale.  We will also discuss the county property taxes and if they could be forgiven on the lot.  If the lot would be sold, CLV and the county would then get the property into a profitable status for both CLV and Spencer County.

COMMITTEE REPORTS:

• Business Planning – Mark Evans – no report
• Rules & Regulations – Larry Ball/Rick Humerickhouse – no report
• Parks & Rec – Larry Loucka – no report
• Nominating/Election – Don Vogel – no report
• By-Laws & C & R’s – N/A - no report

Mark Evans made a motion to adjourn

Rick Humerickhouse seconded the motion

All in Favor 8 to 0.

Meeting adjourned at 7:01 PM

Respectfully submitted

Julie Benningfield

Assistant Property Manager

Christmas Lake Properties