Suwanee Station Master HOA 2016 Annual Meeting 5 December 2016

Introductions Laura Lazar, Parkside Management 678-313-0156, laura.lazar@parksidemgt.com Barbara Allen, Master HOA President Ryan Neilan, Master HOA Vice President Anne Marie Scrudato, Secretary Roger Luque, Master HOA Treasurer John Maison, HOA at Large

More introductions Brian Robinson, Townhome President Sally Ann Quesinberry, Townhome at Large Michael Philips, Cove President Kerri Rucker – Dog Stations, Thank you!!

Who are we 410 Total Units Retired and Empty Nesters Singles Familys 297 Townhomes 112 Single Family Homes 1 Commercial Property Retired and Empty Nesters Singles Familys Lots of kids

Communications 2 Annual Mailings Suwanee Station HOA Website Facebook Suwaneestationhoa.com Neighborhood Wide Eblasts come from this site 83 Eblasts in 2015 vs 80 in 2014 Facebook Suwanee Station HOA – open for discussion PACT Meetings – 3 per year

FINANCIAL UPDATE Treasurer – Roger Luque Current Financials Balance Sheet Income Statement 2017 Budget Homeowner Contribution - $74/month

2017 Budget Overview

SOCIAL COMMITTEE Chair: Paul Manowski/Vicki Luque 2016 – Pool Parties, Santa Visit, Outdoor Movie, Christmas Party, Potlucks, 2017 – Budget of $12,000

Pool committee Chair – Open NEEDED VOLUNTEER FOR 2017 POOL CHAIRMAN

Tennis committee Chair – Open New committee to review Tennis Rules and options for on site Tennis Pro – working with Alex Calero Sponsored Adult Drills Held 2 Adult Mixers Provided courts for Special Olympics Practice Provided courts for Collins Hill High School Tennis Income …. $2215

Volunteers Yes that means you!!! All of our committees could use some extra help. Your time is really a commitment to a great neighborhood and is appreciated by the boards. So if you can’t be on a board maybe just a little of your time next year would go a long way to a continued great place to live. Court Committee Pool Committee Social Committee Clubhouse Committee Landscape Committee – New for Master

What we did in 2016 Lighting Improvements Erosion Repair Upper Pond Sidewalk Lighting from Clubhouse to Tennis Courts Accent Lighting for Clubhouse Erosion Repair Upper Pond Lower Pond Inlet Channel Maintenance Clubhouse Window Replacement Pickle Ball Courts Upper Pond Dredging – by Quintus Corporation New Playground Benches Ordered

Lighting

Erosion Control

What can we do in 2017 Add Children’s Play Pool/Deck Expansion Add Tennis Viewing Reupholster Furniture/Replace Clubhouse Furniture Lower Pond Maintenance Upgrade Fountain area in front of Clubhouse Irrigation Upgrade

Pool Deck Expansion

More…. Continue to accrue for future expenses HVAC – 2 units Roof Parking Lot Replacement Tennis Court Resurface Pool Resurface Clubhouse Painting - Exterior and Interior Lower Pond Dredging

A Look at our Reserves Reserve Balance $466,520 December Contribution $7,987 $474,507 Emergency Fund -$32,000 Accrued Funds through 2016 -$167,547 Available for 1 January 2017 $274,960 2017 Contribution Members $86,000 Enclave $80,000 KM Homes $41,500 Total Available for 2017 $482,460 2017 Accrual -$103,220 Projected Expenses -$317,000 Projected 2017 Ending Balance $62,240

2015 Reserve Study Update Take time to look over this reserve study. You will really begin to understand how we maintain your neighborhood. Located on Association Website for your review Used to plan for future financial needs Used to plan for maintenance and repair of facilities

Covenant Amendment Master Covenants allow cost sharing which we agreed to with The Providence Group and KM Homes. Found out that since they were not members or sub association of the Master, their income would be taxable. Initial contributions of appx $120,000 could be taxable if they did not pay direct for deck expansion improvement. Ongoing annual fees of $98,568 would be taxable at rates up to 35% if they were not members By annexing each parcel, the new neighborhoods would have their own association similar to the Cove and Townhomes thus making them members of Suwanee Station Association, Inc. (Master) and eliminating the potential tax liability.

Effect of Potential Tax Using a 30% tax rate the cost to the Master Association would be $29,563 per year. Once all units are sold that is $56 per year or $4.70 per month per unit. By annexing the parcels, that $29,563 expense can now be used towards operating and capital improvements.