October 27, 2015

A.Meeting purpose B.Current permit numbers and costs C.Review 7 potential options gathered by the parking committee D.Alanneil lease negotiation update E.Q&A regarding scenarios presented F.Community input - Additional options and ideas G.Community input – Comments and concerns H.Next steps

 Board promised a review after one year of implementing the parking plan  Less parking permits requested than anticipated, causing a shortfall on collections  Rising cost of taxes owed on the lease

 Alanneil lot (Lease) ◦ 6 parking spaces  Gazebo ◦ 8 parking spaces

 8 residents currently paying for a permit  Number continues to be fluid, changing throughout the year  High point in 2015 of 13 permits  Low point in 2015 of 6 permits

Property Taxes: $3, Assessment Forgiveness: $3, Total $15,425.43

6 carsgenerates$5, carsgenerates$6, carsgenerates$7, carsgenerates$8, cars generates$9,  This assumes all permits are for third cars at $75/month. Fourth car stickers are $100/month

Income generated = $7, Cost of Lease = $15, HOA Subsidy=$7,  $7900 = $232 per homeowner per year or $19 per month from the HOA reserves

Status Quo A.Continue leasing Alanneil lot, with parking rules that were effective January 2015 B.Continue fees of $75/month for 3rd, $100 for 4th C.Pros: o The additional 6 parking slots in the Alanneil lot gives the community flexibility to eliminate on street parking by residents and visitors D.Cons: o Expense of the lot rental is significant with HOA subsidizing $7,900 this year o Number of paying residents fluctuates

Eliminate Alanneil lot and convert dog park into parking A.Adds net 3 compact spots-total of 11 at the gazebo B.Two Bids taken: $31,000 and $46,800 C.Additional cost to relocate the dog park D.Pros o Leasing cost is eliminated and we begin to receive the $3,000 assessment on Alanneil o HOA able to budget for fixed cost of parking E.Cons o 3 less parking places than currently o Less convenient for people on Alanneil o Dog park spaces would be for compact cars only

Purchase Alanneil Lot A.Current HCAD tax value = $166, B.Possibly could be negotiated for less C.Pros: o Leasing cost is eliminated o HOA able to budget for fixed cost of parking o Able to make permanent beautification improvements D.Cons: o Likely necessary to borrow the money o HOA not able to collect $3,000 assessment o HOA responsible for taxes on the lot

Continue lease of the Alanneil lot, but modify fee structure A.Increase monthly Permit fee to more closely reflect cost of lot rental o Could be accomplished with a sliding fee based on number of cars o Recalculate every quarter or 6 months for accuracy B.Pros: o Eliminates or reduces amount of subsidy for HOA o Preserves 14 current off-street parking slots C.Cons: o Increases cost for homeowners needing a permit o May result in less cars if becomes too expensive

Eliminate the Alanneil lot and modify the qualifications to obtain a permit A.One car per adult driver in a household B.Eliminates 2 permitted cars C.Pros: o Leasing cost is eliminated, HOA no longer subsidizes parking, retains parking fee income and receives the $3,000 assessment on Alanneil D.Cons: o Requires two residents to make other arrangements for their 3rd car o Less convenient for people on Alanneil

Discontinue lease of Alanneil lot, with no other action A.Continue Permit fee of $75 or $100/month B.Issue red sticker permits for max 8 slots in the gazebo area C.Pros: o HOA no longer subsidizes parking, retains parking fee income and receives the $3,000 assessment on Alanneil D.Cons: o Restricts parking flexibility for residents and guests o Less convenient for people on Alanneil

Terminate Alanneil lease and construct 6 slots in central park A.Two bids taken: $16,000 and $18,000 B.Continue Permit fee of $75 or $100/month C.Issue red stickers to park cars at the gazebo or central park D.Pros: o Available parking slots remains at 14 o Leasing cost is eliminated, HOA no longer subsidizes parking, retains parking fee income and receives the $3,000 assessment on Alanneil E.Cons: o The park, a very attractive component of the community, would be largely disfigured o There are many in the neighborhood that oppose this and would be very divisive situation o Less convenient for people on Alanneil

 Under the current lease, if it is determined to terminate the lease on the Alanneil lot, that will require a 90 day notice to cancel the contract  A combination of options mentioned above may also be the best solution

A. Parking Committee discuss community input and narrow options B. Possibly continue negotiations on Lease C. Possibly negotiate a lower lot purchase price