West Market At Reston Town Center Annual Meeting West Market Community Association October 18, 2012

West Market

At Reston Town Center

Annual MeetingWest Market Community Association

October 18, 2012

West Market


Confirmation of Quorum

West Market


Message from President• Apologies for recorded

presentation, out of town on business trip not able to dial in

• Feel free to ask board members present any questions or email me:

[email protected]

West Market


Meeting Agenda

• Review Organizational Structure

• Recognizing Volunteers/Management

• Annual Report: State of West Market

• Election of New Board Members

• Approval of the 2011 Minutes

• Open Forum

West Market


Organizational Structure

• West Market is NOT a member of Reston Association• RTCA – Reston Town Center Association

– Overall governing body WMCA pays them annual dues– They own and maintain the pond– They run the Design Review Board

• West Market Community Association– The group holding this meeting– All residents are members (Only owners can vote)– Maintains overall community infrastructure – all streets

• Condominium Associations– Lincoln Park, Madison Park– Have their own board of directors and assessments– Maintain their buildings and associated footprints

West Market


Community Volunteersand Management

West Market


2012 Board of Directors

• David Wiseman, President

• Nancy Truax, VP Administration

• Frank Ritzenberg, VP Operations

• Scott Buttrick, Director

• Hugh Rodell, Treasurer

• Mary Hagan, Secretary

• Bob Etheredge, Director

West Market

At Reston Town Center West Market Committees/Organizations

Committees/OrganizationActivities

BudgetCommunity Clean Up

LandscapingSpeed Abatement

PetRTCAARCH

WATCH

ChairCarol Welsh;

Grace YakubisinAmanda Sutton

Hugh RodellDavid AdamuskoFrank Ritzenberg

Scott ButrickAlyson Rod

Robert GoudieRobert Goudie

All are members

West Market


Clubs

• Bike Club (Tom Raezer, Chair)

• Garden Club (Peg O’Brien, Chair)

• Kids Club (Amanda Sutton, Chair)

• Yoga Club (Sunny Ho, Chair)

• Movie Club (Linda Graziano, Chair)

West Market


Service First Management

• Michelle Hawkins, Property Manager• Karen Fegani, On-Site Manager• Work at the direction of the Board– Handle community accounting, invoice

processing, and on-site management– Contact for renting club house and

addressing community concerns– Primary liaison with vendors– Gatekeeper on covenants enforcement

West Market


Annual Report:

State of West Market

West Market


Overview of 2012

• Overall quiet year– No major projects started– Some pool worker issues, modified contract to address these

• Continued strong focus on good repair covenants– Critical as community ages

• Continued the Clubhouse 24/7 policy– Good success/use– Clubhouse holding up fine

– Grills have been very popular

• One CIR project – speed limit and children playing signs

West Market


Community Events

• Continue themed events:– Spring/Fall yard sales – Children’s Spring egg hunt– Summer Party– 2nd Il Fornaio appreciation night (open to others)– 4th Doggie Pool Party– Oktoberfest– Children’s Halloween Party – Children’s Holiday Party – Adult Holiday Party ( adding paid help )– Super Bowl Party ( adding paid help )

West Market


Pond/Drilling/Hospital• RTCA took over pond last year

– Regular maintenance by RTCA– Added new “No Fishing” signs

• Water main expansion project– WM easement granted for $5K– Original contractor went bankrupt = delay– Expected to last 2 more years

• Hospital planning major expansion– New stoplight at New Dominion and Town Center Drive– Working with Hospital on an easement – compensation– Considering potential traffic mitigation approaches

West Market


FY 2013 Budget• $3 assessment increase: $113/month

– $139/month for Park Place (landscaping fee +$1)– Condo fees separate– Driven by contractual increases in services and scheduled R&R increases

• Legal – Reduced by $5000

• Trees– Established a new $10K per year reserve line item for trees– Paid for by reducing annual landscape non contract budget

• 2012 Operational Surplus ~$26,000 – Goes Into Reserves– Very low snow removal costs (budget $20K including road cleaning )– Lower than expected legal fees– This surplus excludes previous bad debt writedown collections (~$7000 in additional surplus also

goes into reserves but this just offsets similar deficit from writedown period)

• Bad Debt Update– Policy on collection unchanged - liens and wage attachment – Very successful this year collecting previous accounting writedowns

• Other operational and reserve items essentially unchanged; no reduction in service levels

West Market


’12-’13 Reserves

• Operating Reserve: no change– $72K aligns with auditor recommendation

• CIR: every year to date funded w/o assessment increase– Projected balance of +/- $50K– This is a bit higher than we desire but held off on any significant

new projects pending tree plan

• Repair and Replacement Reserve– Increased tree maintenance line item by $10K for FY13– Balance remains above independent study recommendation– Next independent reserve study FY15, last anticipated before

major road repaving is undertaken

West Market


Budget Going Forward

• Expense line streamlined– Material, future operational savings unlikely– Contact renewals upcoming

• Built-in 3-5% annual increase in contribution to R&R– Original plan was this would be covered by increasing interest

income but low rates have actually driven down interest income from ~$44K to about $24K even though balances are much higher

– Has been and should remain a top Board priority– Discipline: Equity cannot subsidize operations

• So future assessment increases likely

West Market


Other Future Items• New neighborhood signage – more attractive & consolidate• Possibly add electronic speed warning signs• Streetlight pole appearance – possible painting or other change• Consider shoveling of sidewalk areas near entrances for safety• Possibly new entrance medians near Hospital and Verasign (**)• Possibly a children’s playground (**)• Possibly a permanent grill

• Tree plan (**)– Remove/Replace/Crowning some trees; growth inhibitor; – Build into new reserve line item

• Private lot landscaping program (**)– Condos: LP resolved; MP unresolved– PP landscaping service levels some interest in increasing– Trafalgar/Christopher maintenance

** Community meetings would be part of decision making process

West Market


Appeal for E-mail Addresses

• Management keeps strictly confidential– Neither Board members nor outsiders get access

• Important communication tool– Newsletter only quarterly

• Use e-mail for:– Snow removal updates; clear street parking– Augment newsletter (e.g., parking stickers, garage sales,

reminders on calendared events, street cleaning, etc.)– WATCH and other community notices – Emergencies

West Market


State of West Market

• Financial house in order–Management, auditor, and engineer (reserve

study) all in agreement

• Poised to handle capital needs in our future with strong reserves

• Big focus this year on trees and possible community improvements

West Market


Thanks Back to Live Meeting• Once again feel free to ask board

members present any questions or email me:

[email protected]

West Market


Approval of the 2011 Minutes

West Market


Election of New Board Members

West Market


Three Open Seats

• Wiseman, Truax and Ritzenberg up• Two-year terms• If more than 3 candidates:

– All candidates allowed to make brief remarks– Then we’ll vote for up to 3 people– Any ballot with more than 3 names checked or written will be

invalid – SFMC will count; two residents to monitor/help with the count

• If 3 or less, move by acclamation– Board will appoint any vacancies

West Market


Candidates

• Announced candidates:

•Candace Petersen•David Wiseman – On Business Travel

•Greg Davis

• Samuel Wilson

• Any other nominations from floor?

West Market

At Reston Town Center Candidates:Vote For Up To 3

Candace Petersen

David Wiseman

Greg Davis

Samuel Wilson

West Market


Open Forum

West Market


Thank you for coming

Annual MeetingWest Market Community Association

October 18, 2012

Documents

West Market At Reston Town Center Annual Meeting West Market Community Association October 18, 2012