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May 09, 2007
May Newsletter
THE WOODS MAY NEWSLETTER 2007
service@woodsresort.net 802-422-3100
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Annual Meeting
The Woods Owners Association 2007 Annual Meeting was held on Saturday, May 5. Twenty-two units were represented in person and forty-seven units were represented by proxy. The annual budget as presented at the meeting was approved and a resolution to re-finance our existing Factory Point Bank loan with a TD Banknorth loan and an additional line of credit passed.
A review of the past year’s operations and financials and a review of the new budget and operating goals was presented. It was suggested and agreed that in the future we provide a detailed breakdown of the reserve funds from year to year. Discussion focused on the need to have a restaurant or utilize the restaurant space in some capacity; and on a request to create limited secure storage for owners in our maintenance building (there would be a nominal charge to owners using the space).
Bob Fers and Ed Martins where elected to two year terms on the Board of Directors and Paul DiGeronimo was elected to fill the remaining position open from last year for a one year term. The new Board met immediately after the Owners Meeting adjourned and elected the following officers for this coming year:
President Heidi Bomengen Unit F-2
Vice President Richard Mandel Home 2
Treasurer Ed Martins Unit V-14
Secretary Paul DiGeronimo Unit E-12
At Large Bob Fers Units V-9 and F-7
Capital Projects
Work has already begun on the Cluster Roof Project. The few remaining roofs in B through E cluster will be completed and the entire roof in G Cluster will then be replaced. Work will hopefully begin soon to replace the culverts in the road between the TM and E Cluster. For everyone’s convenience, we are trying to schedule this before we have a lot of summer renters and owners on site. Walkway paving will not occur until later in the summer. Prior to that our grounds crew will be repairing walkway steps and installing railings where needed.
Maintenance/Grounds
Due to April snows and cold weather, spring clean up got off to a late start. Fresh mulch is being spread, roads and parking lots will soon be swept, and flower beds are scheduled to be planted in late May. Our water system holding tanks are scheduled to be inspected this month. Under state guidelines, potable water system tanks must be professionally inspected every five years and cleaned as necessary. We have no record of any previous inspections and hope to find no problems. Unrelated to the tank inspections, we are replacing two flow pumps which create water pressure for some units and Woods homes. We apologize to anyone who has had low pressure. We are addressing the problem as quickly as possible. New hard wired combination CO/smoke detectors purchased last month have been installed in most units bringing us in to compliance with the new state codes effective October of this year.
In-unit servicing continues to grow. Surveys returned from owners who have used our in-unit service overwhelmingly indicate a high degree of satisfaction with the service. Please call or e-mail us with any questions or requests.
May Statements
The May Owner Statements are just going out now because we do not produce them until after we have an approved budget at the Annual Meeting. We apologize for any inconvenience this causes.
Owner Survey
Enclosed with this newsletter and your May statement is a “Woods Homeowners Survey”. Please take a moment and complete it. This is your Association and we need your comments regarding The Woods. The survey will be used as a guide to focus future direction and efforts by the staff and Board of Directors. We need your thoughts on the TM restaurant space and on creating storage units for rental to owners at a nominal fee. Please return the survey with your May dues payment.
The Spa
The Spa finished its year above budget. Service revenues were up by over thirty-three thousand dollars (13%) from last year. Some of this was due to a slight price increase; however, most of it was the result of turning the hair salon into an additional massage room and putting on more part time therapists to cover evening appointments.
Memberships are also up due to increased membership of local residents and the recent closing of the Pico Sports Center pool.
We continue to search for more ways to increase business as we grow our reputation as the “spa to go to” in Killington.
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