The 4th Quarter Board Meeting was held 24 Oct 2023, at 6:30PM at 23540 Stablewood Circle.
The meeting was called to order at 6:30PM, with Mark Jenner, Davin Rieke, Terry Johnson, Rod Jenkins, Bobby Lambert and Sarah Diodene representing Magnolia Mgt.
The SPOA Financials were reviewed and 3rd Quarter 2023 meeting minutes approved. The financial status was reviewed and 4 properties have made no attempt to pay dues and have not responded to attempted contacts. Magnolia Management has contacted an attorney and pursuing legal measures.
The SPOA’s insurance carrier is no longer writing General Liability and D&O policies. Magnolia Management is soliciting bids and anticipates coverage and cost to remain comparable.
The board discussed current building projects, drive-thru reports and violations in the neighborhood.
Magnolia presented a proposed budget for CY/FY 2024 that was discussed, reviewed and unanimously adopted by the Board. The annual dues assessment to meet this budget was reviewed and discussed. The Board approved the dues assessment and it will remain $400.00 per year.
The Annual SPOA meeting is scheduled for Dec 7 at 6:30PM at the Oaks Clubhouse. Magnolia Management will also host this meeting virtually A meeting notice with last year’s meeting minutes, the annual Board Repot, the Association budget and proxy forms will be included and mailed in mid-November 2023. Please review these documents and come prepared for the meeting or have an informed proxy represent your views. At least 1 member will vacate the Board this year and we are past time to add new members. The current board has been serving at least 3 years and some for 10 years.
The meeting adjourned at 7:14PM
Stablewood Property Owners Association 