2017 Reserve Study Additional Information

Good Evening Everyone,

The 2017 Timberidge HOA Annual Meeting on Sunday, February 26, 2017, ran very smoothly thanks to John Mackenzie of Secure Association Management. Thank you to the homeowners who attended. Your input during the 2017 Annual Meeting Presentation/2016 Year-in-Review by John Mackenzie and Robin Tercero Montgomery, THOA President, is truly appreciated.

Most of the meeting was dedicated to discussing the reserve study. As posted on November 27, 2016Criterium-Dotson Engineers (Criterium) conducted a reserve study for the THOA on July 12, 2016, 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 for the next thirty years. The Board met with Phillip Nieman, P.E., of Criterium on September 2, 2016, to discuss the first draft of the Reserve Study. Criterium originally recommended that we begin with a substantial special assessment in 2017, but they were unaware of the recent special assessments for the west retaining wall replacement. We requested revising funding options that still make it possible for the THOA to proceed with capital item replacements without any catastrophic failures of construction materials. The final reserve study was submitted to the THOA board on November 4, 2016.

We were not surprised that Criterium deemed the site in disrepair and immediate need of many replacements. We knew the cost over the years would be substantial as evidenced by the Reserve Study Itemized Worksheet provided by Criterium. Based on their Executive Summary “of the facility assets, conditions and finances, the current contribution level for capital reserves is NOT adequate to meet the either short-term or long-term needs of the community. Both an immediate increase together with increases over time will be required to meet future capital needs.” 

After Criterium reviewed how quickly reserve funds will be depleted if we remain at existing funding levels, three alternatives for reserve funding were presented to the Board. Please note that reserve funds do not include general operating budget items. Also, the Board specifically requested alternatives that show little to no increase in monthly assessments to illustrate the effects of that choice.

Based on the report, the funding alternatives presented by Criterium, and the capital improvements achieved after the reserve study was completed, the Board chose to focus on budgeting through 2020 to create a Board Recommended Option (see also 2017 Annual Meeting Presentation/2016 Year-In-Review). Please note that although the reserve study is a tool for capital replacement planning, funding levels will be adjusted to accommodate contingencies and is subject to revision as necessary. The Board may vote to increase the monthly assessments up to five percent (5%) annually as allowed by the Deed Restrictions (page 5, section 5 – vol. 1162, page 405).

Thank you for checking the website for updates. We will post the Minutes of the 2017 THOA Annual Meeting very soon. Consider signing up for notifications to receive Timberidge posts via email immediately by following the blog. Of course, you are welcome to attend the THOA Board of Directors meetings, and we hope you will consider joining the THOA Board of Directors to Be a Voice for Timberidge.”

Thank you – Timberidge HOA Board

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

Patio Fence Replacements for Units 1127-1165

Good Evening Everyone,

Owners of units 1127-1165 should have received a letter with the monthly dues statement explaining that Anderson Construction will begin replacing damaged HOA rear patio fences on the 1100 side of Timberidge. Work is estimated to begin on Friday, August 26, 2016. The contractor currently plans to start with unit #1127. We estimate the entire project will take 4 weeks to complete. The new fences will be replaced with 6 foot, red cedar fence (pre-satined dark brown, side by side). The contracted work will be paid for using current HOA funds.

To facilitate the fence construction, we ask that you move anything that might interfere with the work on your back fence to at least 6 feet away from the fence. Though we have worked with the contractor to minimize the time your patio is “open”, and they will be using temporary net fencing where needed, please consider moving anything of value out of sight during the project. Also, please secure pets and keep children away from the construction/work area during the project.

We appreciate your cooperation with this important matter. If you have any questions or concerns, please don’t hesitate to contact us through John Mackenzie of Secure Association Management. We look forward to working together as we strive to maintain our HOA common area landscape with a more uniform and attractive appearance.

Sincerely – Timberidge HOA Board

John Mackenzie, Managing Agent, 940-595-0584, John@Secure-MGMT.com

 

 

 

Be a Voice for Timberidge

Good Afternoon Everyone,

The THOA Board of Directors will meet Sunday, June 28, 2015, at 2 PM, Denton South Library, 3228 Teasley Lane, Denton, TX 76210. As usual, we are officially asking for volunteers for THOA Board positions. Please consider being a member of the Board at this crucial time of budgeting for more capital improvement projects. We would be delighted to meet you at the meeting, or contact Leisha of Acclaim Management if you are interested. She will forward the email to the Board.

Finally, thank you to everyone who replied to the retaining wall survey in time for the Board to accept the Orduno, Inc., proposal. A majority of owners agreed to obtain a loan to cover the cost of the retaining wall construction beyond what we already raised, so the Board accepted a private loan from a homeowner. In hindsight, because of the record rainfall we experienced this spring and because the retaining wall was beyond the life of its construction, finishing the structural portion of the project now instead of waiting until later this year or next year was definitely a wise decision.

Sincerely – Timberidge HOA

Phase 1 Retaining Wall Completed

Hello Everyone,

As of Saturday, May 9, 2015, the structural phase of the retaining wall was completed. Orduno, Inc., will be on the property this week to continue tiding up the site and to conduct soil nail tests to make sure design specifications are being met. We appreciate the care and consideration taken by Orduno, Inc., to minimize the impact of construction (including complete dismantling of the railroad ties and disposal, maintaining existing fences, minimal loss of foliage, and construction in close quarters at the entrance), and we are confident with the engineering plans and overall construction.

Thank you to the 33 homeowners who responded to the Phase 1 Retaining Wall Google survey, and thank you very much to the 22 homeowners who agreed to pay both the 2014 and 2015 Special Assessments in full by May 31. Your payments and pledges are making this project possible. We will post a full update concerning the financials soon.

Enjoy a few pictures of the new retaining wall!

Sincerely – Timberidge HOA

2015 (05) May – Dog Run Wall 2015 (05) May – West Wall

2015 (05) May – Entrance Wall

Complete Wall Construction Info: Begins Mon., 4/6 at 7 AM

Hello Everyone,

We apologize about the premature post. Here is the completed information!

The City of Denton granted issued the building permit to Oscar Orduno, Inc., on Thursday, April 2, so construction will begin tomorrow, April 6, 2015, at 7 AM. Here is an overview of the construction schedule:

  • Introduction of the Orduno Team: Among the key personnel, Cesar Gonzales (Foreman) will always be on site. Everado Garcia (Superintendent) and Vicente Yanez (V.P. of Operations) will be there very often, usually only half the time. Elizabeth Garcia (Field Engineer) will rarely on site, but she is integral to the administration of the project. Please see their short biographies at the end of this post.
  • Construction Schedule: Monday – Friday, 7 AM to 6 PM; Saturday, 7 AM to 2 PM. Construction is scheduled to be completed by Thursday, May 7, 2015.
  • Crew: The crew will be about 5-6 workers during the first week, then once the shotcrete process begins, the crew will expand to 11-12 members.

Thank you to every owner who has responded to the retaining wall survey. We are up to 30 responses, and many of you have paid the 2014-SA in full and will pay the 2015-SA by May 31.

Once again, thank you for your cooperation.

Sincerely – Timberidge HOA

Orduno Key Personnel

  1. Vicente Yanez (VP of Operations) – 25 years of experience with Earth Retention Systems as General Superintendent.
  2. Everardo Espinoza (Superintendent) – 15 years of experience with Earth Retention Systems as Superintendent and Foreman.
  3. Elizabeth Garcia (Field Engineer) – Masters in Construction Management. 8 years of construction experience and 1 year with Oscar Orduno, Inc.
  4. Cesar Gonzalez (Foreman) – 9 years of experience with Earth Retention Systems.

 

 

Retaining Wall Construction Begins Monday, April 6 at 7 AM

Good Afternoon Everyone,

The City of Denton granted issued the building permit to Oscar Orduno, Inc., on Thursday, April 2, so construction will begin tomorrow at 7 AM. Here is an overview of the construction schedule:

  • Introduction of the Orduno Team: Among the key personnel, Cesar Gonzales (Foreman) will always be on site. Everado Garcia (Superintendent) and Vicente Yanez (V.P. of Operations) will be there very often, usually only half the time. Elizabeth Garcia (Field Engineer) will rarely on site, but she is integral to the administration of the project. Please see their short biographies at the end of this post.
  • Construction Schedule: Monday – Friday, 7 AM to 6 PM; Saturday, 7 AM to 2 PM. Construction is scheduled to be completed by Thursday, May 7, 2015.
  • Crew: The crew will be about 5-6 workers during the first week, then once the shotcrete process begins, the crew will expand to 11-12 crew members.

 

THOA Dues Change Starting April 1, 2015

At the annual meeting in February, the Board proposed a 10% dues increase for 2015 ($192.50) due to the added expense of the retaining wall and other capital improvements planned for the next ten years. After a discussion of the economic impact on homeowners, several in attendance requested no rate increase in 2015 for those who can pay the 2014 and 2015 Special Assessment (SA) in full by May 31, 2015. With that in mind, we revised the dues plan starting April 1, 2015:

  1. $175.00/month for homeowners who pay the 2014 and 2015 Special Assessments by May 31, 2015.
  2. $183.75/month (5% higher) for those who pay the 2014 Special Assessment by May 31, 2015, but need a payment plan for the 2015 Special Assessment. The extra $8.75 per month through December 2015 will reduce the homeowner’s 2015-SA by $78.75; therefore, the first 2015-SA payment will be $121.35 due December 31, 2015.
  3. $201.25/month (15% higher) for those who need to maintain the current 2014 Special Assessment payment schedule and need a payment plan for 2015. The extra $26.25 a month through December 2015 will reduce the homeowner’s 2015-SA by $236.25; therefore, the first 2015-SA payment will be $263.75 due March 31, 2015.
  4. $201.25/month for those who have not responded to the retaining wall survey unless Leisha Shelton of Acclaim Management can verify which dues plan is assigned to your unit(s) before March 31, 2015. She will begin contacting homeowners directly starting Monday, March 16, 2015.

Below is the 2015 Special Assessment installment plan:

  • $1900.00 – 2015 Special Assessment installment payment due dates:
  • 2015 Special Assessment Payment Slips
    1. $200.00: December 31, 2015
    2. $300.00: March 31, 2016
    3. $300.00: June 30, 2016
    4. $300.00: September 30, 2016
    5. $300.00: December 31, 2016
    6. $300.00: March 31, 2017
    7. $200.00: June 30, 2017

The Board is working toward a revised budget that is more specific for the next three years. We anticipate that dues will increase more than 15% for all homeowners starting in 2016 to adequately save for upcoming projects. As soon as we can, we will post those ideas on this site.

As usual, we ask that you follow the THOA site via email. Though Leisha Shelton of Acclaim Management will gladly forward you THOA posts, you may not receive them the same day they go live, especially if the post is on a weekend. We are happy to have 20 followers now, but we would like full participation this year. Homeowners following the blog whose emails can be confirmed by Acclaim Management will not receive forwarded blog posts via Acclaim starting July 1, 2015.

Once again, we invite homeowners to become a member of the THOA Board of Directors. We would be delighted to meet you at future meetings, or contact Leisha of Acclaim Management if you are interested. She will forward the email to the Board.

Finally, we are up to 26 responses to the retaining wall survey, but we really need to hear from everyone. As explained earlier in this post, Leisha Shelton will contact you directly starting Monday, March 16, 2015, if we do not have a response from you at this time.

Thank you to those of you who have already responded, and we look forward to hearing from everyone else before the end of the month.

Sincerely – Timberidge HOA

Retaining Wall Bid Accepted & Follow THOA

The Board officially accepted the bid from Oscar Orduno, Inc., yesterday. Construction will begin once a project schedule, work plan, and logistics plan is submitted for review by Orduno, Inc. We anticipate hearing from them by the end of the week, so we should be able to post the exact start date and work details very soon.

Again, we thank everyone who responded before we accepted the bid. We now have 23 survey responses, but we need to hear from everyone. If you have not responded, please respond as soon as you can, so the Board knows you have received the important announcement about the retaining wall.

We are up to 19 following THOA, but we want to have full participation, so please follow us to receive notifications of new posts via email as soon as they go live. Leisha Shelton of Acclaim Management will forward the notification to you, but the Board would like everyone to get the information immediately.

Thank you! – Timberidge HOA