The 4th Quarter Board Meeting was held 16 October 2024, at 6:30PM at 23540 Stablewood Circle.
The meeting was called to order at 6:36PM, with Mark Jenner, Davin Rieke, Terry Johnson, Bobby Lambert and Marcelle Clement representing Magnolia Management.
After the agenda was approved the 3rd Quarter meeting minutes were reviewed and approved. The SPOA financials were reviewed along with the 2024 dues collection status. A discussion followed about dues collection and the lien status on 1 delinquent account. We also discussed the current spending rate with unbudgeted legal costs in addition to increased landscaping, maintenance and utility costs that are exceeding our current budget. We have mitigated the majority of legal fees by recovering those in the lien process but both labor and material costs have increased. The Board approved a $29,000 operating budget for CY/FY 2025. The Board also approved a 10% dues increase to keep pace with inflation. The annual dues starting January 2025 will be $440.00. This is the first dues increase in 11 years. The dues in 2013 were $650.00 a year and since time we have lowered dues twice and even had a dues holiday but current fiscal requirements are dictating a change.
The board discussed current building projects, drive-thru reports and violations in the neighborhood. Currently there are 3 homes under construction and plans that have obtained final approval with construction planned this year. We still have concerns with yard signs, people not cleaning up after pets and speed limits.
The SPOA Annual Meeting is scheduled for 5 December 2024 at 6:30 PM in the Oaks Club House. As before the meeting will be accessible virtually. Information packages will be mailed out in November, please take the time to read these before the meeting, establish proxies if unable to attend and consider serving a term on the board.
The meeting adjourned at 7:40PM
Stablewood Property Owners Association 