2017 Reserve Study General Report

Hello Everyone,

For many years, the Board requested assistance adopting a financial strategy for long term maintenance of the property from our previous management companies. Though management requested and received bids for many improvements such as roofs and paving, they could not find contractors to design and construct new retaining walls within the necessary parameters due to safety and strength requirements. Luckily, a former Board member knew a qualified engineer able to design the retaining walls and find a contractor for construction. Phase 1 of the Retaining Wall was completed in May 2015.

In June 2015, the Board was anxious to start new projects and wanted to plan for future repairs and maintenance more efficiently. After much consideration, the Board decided to hire Secure Association Management (Secure). Among the management companies we selected to interview, only John Mackenzie of Secure immediately suggested a reserve study to tackle the capital improvement conundrum. Finally, we were on the road to a comprehensive maintenance plan for Timberidge.

On July 12, 2016, Criterium-Dotson Engineers (Criterium) conducted a reserve study for the THOA by evaluating the overall condition of the building components and systems that are the responsibility of the Association to determine the allocation requirements into the reserve fund to meet anticipated capital expenditures for the THOA. The Board met with Phillip Nieman, P.E., of Criterium on September 2, 2016, to discuss the first draft of the Reserve Study. We were not surprised that Criterium deemed the site in immediate need of many repairs and replacements, and we were aware the cost over the years would be substantial (see the Documents page for details). However, several projects were completed after the Reserve Study inspection was conducted, so we are off to a fantastic start. Plus, we have an excellent template for future planning which, to our knowledge, Timberidge has not had since construction was completed in the early 1980s.

The Board discussed the completed Reserve Study submitted on November 4, 2016, at the meeting on Sunday, November 20, 2016. After discussing the three funding alternatives in the Reserve Study, the Board decided to present the alternatives to the membership at the 2017 THOA Annual Meeting scheduled for Sunday, February 28, 2017, at 1:30 PM, rather than choose a plan at this time. We are working hard to adapt the recommendations to our needs with the help of Secure, and we look forward to seeing you all in February.

Thank you – Timberidge HOA Board

Timberidge Annual Meeting – Sunday, February 26, 2017 at 1:30 PM

Good Afternoon Everyone,

The Timberidge Townhomes Homeowners’ Association Annual Meeting is scheduled for Sunday, February 26, 2017, at 1:30 PM, South Denton Branch Library, 3228 Teasley Lane, Denton, TX 76210. The Agenda will include:

  • 2016 Year-in-Review
  • 2017 Operating Budget – Approved by the Board 11/20/16
  • 2016 Reserve Study Discussion
  • 5 year Maintenance and Capital Improvement Plans
  • Reserve Fund Levels to achieve Improvement Plans
  • Election of new Board Members
  • Schedule Future Board Meetings

Please consider being a member of the Board. Your input and participation would be greatly appreciated. Please contact John Mackenzie of Secure Association Management if you are interested. He will forward the email to the Board.

Thank you for checking the website for updates. Consider signing up for notifications to receive Timberidge posts immediately via email by following the blog.

Thank you – Timberidge HOA Board

2017 Monthly Dues Increase: January 1, 2017

Hello Everyone,

The THOA Board had a very productive meeting last Sunday, November 20, 2016. John Mackenzie of Secure Association Management (Secure) gave a detailed report of ordinary maintenance and capital improvements. Then, we reviewed the Reserve Study by Criterium-Dotson Engineers, discussed upcoming capital improvements, and approved the 2017 Budget. The Board thanked John Mackenzie for dramatically improving financial reports and collecting on many delinquent accounts bringing the balance from $11,992.00 when our Acclaim Management contract ended on March 31, 2016, to $5,888.75 on October 31, 2016. In seven months, Secure collected $6,103.25 for the THOA. Needless to say, the Board is very pleased.

Because of the many anticipated capital improvements in 2017, the Board voted to increase the monthly assessment by five percent (5%) as allowed by the Deed Restrictions (page 5, section 5 – vol. 1162, page 405). Dues will increase to $210.00/month per home starting January 1, 2017. This increase will facilitate capital improvements necessary to maintain the new insurance policy and begin the list of improvements outlined by the Reserve Study.

Thank you for following the blog. We encourage you to share this information with your lessees, especially when the posts focus on Timberidge Community matters.

Sincerely – Timberidge HOA Board

Timberidge Board Meeting: Sunday, November 20, 2016 at 1:30 PM – South Branch Library

Hello Everyone,

The Timberidge HOA Board of Directors will meet on Sunday, November 20, 2016, 1:30 PM, at the South Branch Library, 3228 Teasley Lane, Denton, TX 76210. We have open positions, so please consider becoming a member of the Board. We would be delighted to see you at the meeting, or contact John Mackenzie of Secure Association Management if you are interested. He will forward the email to the Board.

Thank you – Timberidge HOA Board.