Rosewood Estates Annual Community Meeting

6.30 P.M. Monday November 28, 2022 

* Current quorum requirement is 62.5% of occupied homes in attendance or voting by proxy through a HOA Board member.

Key Decisions/Discussion:

Topic 1: Call Meeting to Order

• Noted that we have quorum to proceed.  

Topic 2: Officer Reports

• Approved minutes from last meeting.

• Reviewed current financial statements. Waiting for final transition of funds from Navigate (prior manager) to MyHOA run accounts.

Topic 3: Old Business

• Discussed initial research on the addition of a security gate for community entrance. We agreed that we should wait to vote until the last lot was occupied.
• Discussed addition of a streetlight at the T-intersection between Lot 1 and Lot 3 for added visibility for drivers and walkers at night. Agreed to revisit this later.
• Discussed need for maintenance of unsightly wild grass along storm pond fence line and entrance to community. Agreed to see how this looks after summer growth and revisit approach to maintaining.

Topic 4: New Business

• Jeff and Manager introduced Reserve Study purpose and timing. There were a few questions on whether it was needed, but we agreed that as it was our first time, we should conduct the study to find out what it would uncover. There is also a legal requirement given our budget under WA state law.
• We discussed the budget for 2023. There were questions about whether we needed to allocate as much to the Reserve or whether we should keep it in the operating budget. Manager explained that the Board can pull funds from Reserve to Operating if required, but that the Reserve is important to build up for new communities with unknown future expenses (at least until we complete Reserve study). We voted to ratify the budget.

• Given the size of our community, we voted to waive an audit for this year.

• We discussed that our current CC&Rs specify that officers are elected for one-year terms. Given our community is new, we agreed to stagger terms initially so that we can maintain continuity and build up institutional knowledge (otherwise we would have 100% turnover of Board). Every year, one officer would step down and be replaced with a new community member. For this year, Moz Thomas (Secretary) will step down.
• Bijoy Paul volunteered to replace Moz as Secretary. We unanimously voted to approve this election, with term officially immediately after the Community Meeting (November 28, 2022).

• We discussed catch basin maintenance and storm pond responsibility. King County is responsible for basin, and does inspections on an multi annual basis.  The chain fence is King County, the wooden fence belongs to the HOA.  We will also be taking ownership of the wetland surrounding the pond once Terrene’s performance bond has expired.

Meeting concluded at 8.30pm.