December 27, 2008
December Newsletter
THE WOODS DECEMBER NEWSLETTER 2008
service@woodsresort.net 802-422-3100
________________________________________________________________________________________________________________________________________________
Happy Holidays
We hope everyone has had a happy holiday season. Our sincere thanks to those who have sent cards, called, or stopped by to extend their best wishes and express their appreciation to the Woods staff.
Kohl / Madowitz Lawsuit
The Rutland Superior Court has forwarded our Motion for Interlocutory Appeal regarding the “10 year limitation” to the Vermont Supreme Court with the recommendation that it be heard by that body. We are now waiting to see if the Vermont Supreme Court will hear the Motion. If the Motion is denied or results in an adverse ruling, the case will proceed forward through discovery and to trial.
Restaurant
Isabella’s Restaurant opened for dinner on Friday, December 19 with excellent reviews from those who dined. The menu features a wide selection of entrees and nightly specials with your choice from a number of accompanying sauce selections to compliment each dish. A limited children’s menu is also available this year. If you would like to continue to have a quality restaurant operating in the Terra Median building please make every effort to support its presence through your patronage and by spreading the word to your guests and friends. Isabella’s offers a quality dining experience in a refined atmosphere without the noise and crowding often found at other area restaurants.
Maintenance/Grounds
December brought several significant snow and rain events keeping our crew busy plowing, shoveling, sanding, and salting. Over three feet of snow fell from December 17th through the 21st. In addition to plowing the roads, we shovel or snow-blow 80 walkways, 24 fire hydrants, propane tanks for every unit, and make sure trash closet doors are clear and there is clear access to all electric meters not located in an entry closet. After all of that, we had to make sure all of the sewer gas vent pipes were open and unfortunately we still have several areas where roofs need some attention to prevent serious ice damming and leaks into the units.
We apologize to anyone who was here over the weekend of December 5th and found the hot tub in the TM not up to temperature. The electronic igniter for the hot tub heater failed that Friday and our service company could not get the replacement part until the following Monday.
The winter’s influx of rental guests has resulted in multiple calls, several after hours, to our staff for issues such as guests being locked out, no hot water, not being able to use the internet, etc. If you do rent, please ask your rental agent to be sure there is adequate information regarding their services and what to expect when the guest arrives in your unit. We will always try to respond and assist as possible but in fairness to all of our owners we do charge for in-unit service and after hours calls start $60.
Spa
On a positive note, after a soft foliage season, November finished with the number of Spa treatments equal to last year. Unfortunately memberships were slightly behind and we continue to fall behind our revenue goals. Our staff is making every effort possible to trim expenses in response to the revenue short fall. We also continue to look for ways to improve the services we offer and recently added a deluxe pedicure chair which we were able to purchase slightly used at a fraction of the cost of a new one. We are confident the purchase will pay for it self in a short time and will help maintain our position as the premier Spa in the Killington area.
Please welcome Ethan Doss who has joined our staff as an evening Spa / pool attendant. Ethan has a Bachelor of Science degree in recreational management and a family history of being in the hospitality business. His addition completes our Spa staffing for the winter season.
Financial Update through November
|
INCOME |
Fiscal YTD |
Budget |
Last year |
|
Operating Income (less Spa) |
$484,318.19 |
$488,369.17 |
$459,728.61 |
|
Non-operating Income (interest & dividends) |
$3,864.39 |
$4,025.00 |
$7,476.72 |
|
Spa Income |
$79,302.91 |
$92,510.00 |
$100,180.04 |
|
Net In-Unit Service Income |
$4,203.49 |
$4,340.00 |
$3,889.19 |
|
Total Income |
$571,688.98 |
$589,244.17 |
$571,274.56 |
|
EXPENSE |
|||
|
Spa Expense |
$115,476.01 |
$124,350.00 |
$124,228.89 |
|
Terra Median Expense |
$111,041.16 |
$104,227.18 |
$112,214.46 |
|
Maintenance/Grounds Expense |
$111,366.44 |
$132,569.30 |
$137,067.05 |
|
General & Administrative Expense |
$176,977.28 |
$201,047.91 |
$209,485.88 |
|
Non-operating Expense |
$43,364.64 |
$29,416.65 |
$15,584.28 |
|
Total Expense |
$558,225.53 |
$591,611.04 |
$598,580.56 |
|
Net Income |
$13,463.45 |
($2,366.87) |
($27,306.00) |
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December 03, 2008
THE WOODS NOVEMBER NEWSLETTER 2008
THE WOODS NOVEMBER NEWSLETTER 2008
service@woodsresort.net 802-422-3100
________________________________________________________________________________________________________________________________________________
Fall Homeowners Meeting
The Woods Fall Homeowners Meeting was held on Saturday, November 22, 2008. Twenty seven owners attended representing twenty two Woods condominium units. The agenda and year to date operations review will be posted on our web site www.WoodsResort.net. A year to date profit and loss summary through October follows at the end of this newsletter. If you would like a copy of the profit and loss detail or the reserve account balances reviewed at the meeting please call the Woods Homeowners Association office at 802-422-3100 or e-mail us at service@woodsresort.net. Our Annual Meeting is scheduled for Saturday, May 2, 2009.
Kohl / Madowitz Lawsuit
We are waiting for the Court’s response to our Motion for Interlocutory Appeal of the Court’s decision regarding the “10 year limitation” found in the Woods deeds. If the Motion is denied, the case will proceed forward through discovery and to trial, with the possibility of an appeal on this issue if an adverse result is reached at trial.
Gramp’s Shuttle
We have again contracted with Gramp’s Shuttle to provide shuttle service from the Woods to Killington and back. Scheduled service, procedures, and reservation phone number are the same as last year. Schedules will be placed in all Woods condominium units and have been distributed to the primary short term rental agents used by Woods Homeowners.
Restaurant
Isabella’s Restaurant will again be operating out of the Terra Median building this winter. Chef/owner, Nigel Noble, is on site and plans to open in early December. Isabella’s will be opening at 2:30 pm for bar and tavern service with full service at 5:00 pm. Nigel does plan on offering a limited children’s menu this year, however he will not be offering breakfast or lunch. We encourage all owners to support his efforts to operate a successful restaurant at The Woods.
Propane Pricing
We chose not to lock in a fixed price with AmeriGas this year because the lock in contract prices were extremely high. Our pricing will float at thirty eight cents over AmeriGas’s cost and currently should be right around $2.00 per gallon or less. With the recent decline in fuel prices this appears to have been the correct decision.
Maintenance/Grounds
Fall clean up is complete although with the recent snowfall which arrived in time for the Thanksgiving Holidays one cannot tell. Our plow trucks are ready for winter and have already been in service. Firewood is on site and our first loads of sand and salt have been delivered and put to use.
Water System
The State of Vermont performed a routine Sanitary Survey of our water system at the end of October. They identified several needed upgrades to our system which we had anticipated and budgeted for this year and we are working with the State and Harrington Engineering to complete the upgrades in the most cost effective way possible. Our water quality is excellent but we do need to improve access to our underground holding tanks and we do need to install additional water level probes and low level alarms in those tanks.
In the process of working with the State and Harrington Engineering it came to light that the hydrants throughout The Woods were installed as a means to flush the system and were never intended to be a primary source of fire protection because the water mains supplying them do not have the capacity to be connected to a fire truck without causing damage to the mains. The system was originally permitted with the understanding that the hydrants could only be used with gravity flow and could not be connected directly to a fire truck. Our primary source of water for fire fighting is the two fire ponds located by A and B Clusters. We have discussed this with the local fire chief and he is working to maintain our current insurance rating regarding fire protection.
Spa
Financial Update through October
|
INCOME |
Fiscal YTD |
Budget |
Last year |
|
Operating Income (less Spa) |
$415,109.11 |
$415,387.86 |
$390,877.33 |
|
Non-operating Income (interest & dividends) |
$3,814.22 |
$3,450.00 |
$6,612.11 |
|
Spa Income |
$60,594.61 |
$71,540.00 |
$77,970.04 |
|
Net In-Unit Service Income |
$3766.36 |
$3720.00 |
$3,322.88 |
|
Total Income |
$483,284.30 |
$494,097.86 |
$478,782.36 |
|
EXPENSE |
|||
|
Spa Expense |
$95,500.00 |
$101,325.00 |
$101,731.26 |
|
Terra Median Expense |
$97,303.90 |
$85,340.44 |
$92,456.49 |
|
Maintenance/Grounds Expense |
$96,526.66 |
$112,545.84 |
$115,685.48 |
|
General & Administrative Expense |
$153,979.51 |
$173,035.42 |
$180,352.54 |
|
Non-operating Expense |
$33,347.96 |
$25,249.98 |
$13,332.00 |
|
Total Expense |
$476,658.03 |
$497,496.68 |
$503,557.77 |
|
Net Income |
$6,626.27 |
($3,398.82) |
($24,775.41) |
Several Woods Owners are 60 days behind in paying their monthly assessments. Please note that after 30 days finance charges will apply and after ninety days our written policy is to begin legal collection proceedings. The Board of Directors believes we need to be consistent and follow our policy as written. Please contact us if for any reason you cannot or do not pay your assessments when due.
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Fall 2008 Homeowner Meeting
The Woods Homeowners Association
Fall Meeting
November 22, 2008
Agenda
3:30 pm Welcome and Introductions
3:35pm Financial Review
· Operations
· Capital Reserve Balances
3:50 pm General Updates
· Shuttle
· Restaurant
· AmeriGas Pricing
· Kohl – Madowitz Lawsuit
4:15 pm Operations Recap
· Spa operations
· Capital Projects
· Water system
· TM Repairs
· Grounds Maintenance Projects
4:45 pm Future Projects
· Cluster
· Village
· TM
· Common
5:00 pm Questions and Open Discussion
5:30 pm Adjourn for Social Hour
Operations Recap for May through October of 2008
Capital Projects
Cluster Units – Completed Sto (stucco) siding repairs and painted the white stucco and grey trim and siding in E and F Clusters. Painted the grey cedar trim and siding on the fronts of the units in A, B, C, and G clusters. Completed front roof repairs on units A-5, A-6, and A-7.
Village Units – Replaced living room glass sliding doors in units V-22, V-24, and V-37. Eleven replacement windows have been ordered for installation in V12, V-13, V-32, and V-36. The windows are back ordered. We are scheduled to get the worst of them installed in early December. Several may need to wait until spring.
Common – We are working with Harrington Engineering and the State of Vermont Water Supply division to finalize required upgrades to our water system. These upgrades include improving access to our underground storage tanks and installing storage level controls and alarms on tanks which do not currently have them in place.
TM – Replaced two hot water storage tanks. We will also be replacing one hot air furnace which heats the men’s locker area and treatment rooms on that side of the Spa. That furnace failed this week and replacement should be completed before Thanksgiving.
Sue Burgess is shopping for some furniture upgrades for the women’s lounge area in the Spa.
Water System Repairs
- Replaced the one inch water line from the curb stop to the furnace room for unit B-7.
- Installed secondary containment barrels for our two chlorination systems.
TM Repairs
- Replaced a small section of standing seam metal roofing on the gable over the north side emergency exit from the pool area.
- Cleaned the surface and repainted the pool and hot tub.
TM repairs cont.
- Painted the stucco around the greenhouse window by the main entry to the TM and completed minor repairs to the ceiling above the porte cochere.
- Replaced/upgraded emergency lights and exit signs throughout the building.
Grounds / Maintenance Projects
- Resurfaced the gravel paths inside the Village Circle.
- Re-pointed the mortar in the chinking for the Village furnace room chimneys.
- Corrected drainage behind V-22.
- Repaired the intake around the culvert under Woods Lane across from C cluster.
- Cleared space for owner storage in the maintenance garage.
- Removed dead trees and limbs throughout the property.
- Changed batteries in all smoke detectors.
- Inspected and re-charged fire extinguishers in all units.
- Replaced the last two maroon directional signs with new signs in gold on black.
- Replaced kitchen outlets in all units with new “GFI” outlets.
- Painted all walkway railing posts and light posts throughout the property.
- Added over 100 perennials to the grounds –mostly in front of the TM building
Future Projects to Consider for the Short and Long Term
Cluster Siding
Continue with years two and three of a three year project to repair and paint the exterior siding throughout the Cluster units.
Decks
Pressure wash and paint all Cluster decks and Village decks as needed.
Replace Village ground level concrete patios.
TM HVAC
Continue to seek viable economic alternatives for replacement to the TM HVAC systems.
Village Roofs
We have one estimate to re-roof the Village units with architectural asphalt shingles.
Village Windows and Sliders
Continue with the replacement of windows and sliders as needed.
Walkway Lighting
The wiring and posts for much of the exterior walkway lights are in poor condition and need replacing
Replace the drains and overflows on the fire ponds.
The drains are galvanized metal culvert which is now 20 years old and rusting out.
Paving
Repair and repave sections of the Village Circle, Woods Road from the TM to G cluster and the Homes, and some parking areas. These areas are in poor shape but not a priority.
Add one more layer of asphalt paving to the main road coming in. Two different paving contractors have told us that the road could use one more layer of asphalt. The contractor who rebuilt and paved the road several years ago said budget constraints at the time did not allow another coat.
Landscaping
Continue to improve the grounds and add some shrubbery and perennials to areas with limited landscaping. This should be an ongoing project with improvements made each year out of the operating budget. Little to no landscaping was done around E, F, and G Clusters and the Village units could use some landscaping around many of the entries.
Roadway Lighting
Add roadway lighting on the main road. This has been a known need from the owner surveys sent out. The issue is that there is not a power source along the road side to use for lighting therefore the project is more involved than simply adding more light poles.
Salt, Sand, and Firewood Storage
This is a request from the grounds crew. Proper storage would keep firewood drier, allow bulk purchase of salt for winter use, and prevent any environmental issues with sand and salt storage.
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