OAKMONT COMMUNITY SALES ASSOCIATION
BOARD MEETING MINUTES
AUGUST 10, 2023
The meeting was called to order at 5:00 pm by President Haupt.
Present: Board Members Gary Haupt, Megan McGuire, Jeff Wilhoit, and Eric Franklin were in attendance. Polly Rannells and Donnie Sherwood were present. 7 HOA members were in attendance in the audience.
Absent: Jeff Farquhar was absent with a work conflict.
Amend/Approve Agenda: The agenda for the meeting was presented for review.
- Motion: Jeff Wilhoit moved and Eric Franklin seconded to approve the agenda as presented. All Board members voted in favor of the motion. Motion carried and agenda approved.
Minutes of Regular July 13, 2023 meeting: The minutes of the July 13, 2023 regular meeting were presented for review.
- Motion: Megan McGuire moved to waive reading of the minutes at the meeting and approve the minutes as presented and Eric Franklin seconded the motion. All Board members voted in favor of the motion. Motion carried and minutes approved.
Treasurer Report: Treasurer Jeff Wilhoit gave the OCSA Treasurer’s report as follows:
- As of 7/31/2023, the Checking account balance was $241,464.10; Heim Young account balance was $238,159.64. The Heim-Young investment account increased approximately $3,800.00 in July. See the OCSA Treasurer’s Report herein attached and incorporated by reference to these minutes.
Administrative Report:
- Lot Sales Report: – Polly Rannells stated that there were no sales in July.
- Title Insurance Policy and Closing Costs on Membership Only Lots: Polly Rannells would like to re-evaluate the policy of taking the Membership Only lot sales to Hogan Title Co. for a formal closing with deed preparation and issuance of title insurance. Currently, the Association is charging $600 for the Membership Only Lot plus splitting the closing costs with the Buyer. After costs, the Association receives about $200 per sale and the Buyer ends up paying around $900. The Board discussed the increasing costs of doing this extensive process for the Membership Only Lots. If the Buyer would like to secure title insurance, they could opt for that benefit and pay for it themselves. The Board was in general agreement to adjust this process and bring the closing in-house with a standard deed prepared by the Corporate Attorney.
- Motion: Megan McGuire moved and Jeff Wilhoit seconded to bring the Membership Only Lots closing in-house with a newly prepared deed appropriate for the warranties provided, filing the deed with the County Recorder by Association staff and only purchasing title insurance at the cost of the Buyer if requested by the Buyer. The $600 Membership Only Lot price and splitting the closing/recording fees would remain the same. Megan McGuire will ask the corporate attorney to prepare the appropriate deed and she will revise the Policy and Procedures on Lot Sales for approval at the September or October meeting. All Board members voted in favor of the motion and the motion carried.
Old Business:
Western Taney County Fire Protection District: Contract for sale/purchase of portion of Tract 27 is still in the drafting stage with corporate attorney. Megan McGuire and Polly Rannells have a phone conference scheduled with Attorney Kyle Harmon to expedite this draft and provide to the Fire District in the near future.
Lyle Malcore and Susan Foster: Malcore and Foster are offering a price of $7,500 on 6 lots bordered by Poplar, Ash and Walnut Drives otherwise known as Oakhollow Addition, Block F, Lots 1, 2 and 3 and Block H, Lots 10, 11 and 12. The Board discussed the topography, steep slope, no view, unimproved roads and no electric adjacent to the lots. There is also a dirt pit that Oakmont uses to store and retrieve dirt for road projects near the property. The pathway to get to and from the dirt pit would go by these lots. There would be dust and noise associated with this pit when accessed. Gary Haupt tabled the vote on the offer until September and requested that Malcore/Foster are made aware of the dirt pit and its ramifications before the Board votes on the price offered.
New Business:
Valerie and Robert Budd Offer to Purchase Tract 25: In the letter dated 6/28/2023, Valerie and Robert Budd of 845 Lakeview, LLC, offered to purchase Tract 25 for $15,000. The Board discussed the most recent appraisal conducted in 2021 on Tract 25 which stated the property was appraised at $80,000. There had also been several offers in the last 12-16 months that were in the $70,000 to $75,000 range which the Board had rejected. The Board believes the appraised price is still valid.
- Motion: Jeff Willhoit moved and Eric Franklin seconded to reject the Budd’s $15,000 offer and communicate with them the 2021 appraisal information. All Board members voted in favor of the motion and the motion carried.
Endegunde Johnson Request to Give Back Lot to Association: The Association received a letter from Gundy Johnson who inherited a lot in 2008 owned by Hannelore Carter. The letter from Ms. Johnson states she lives in Texas, she has never used the property or amenities, does not want the lot, is too old to use it, is unable to pay the delinquent dues and wants to give the lot back to the Association in exchange for writing off the delinquent dues of $2,200.79. The Board discussed the location of the lot, adjoining property owners and the value of the lot in today’s market.
- Motion: Eric Franklin moved and Jeff Willhoit seconded to accept Ms. Johnson’s offer to take back the lot in exchange for writing off the delinquent dues debt following confirmation that there are no other encumbrances on the property. All Board members voted in favor of the motion and the motion carried.
Adjournment: With no further business to come before the Board, Gary Haupt called for adjournment.
- Motion: Jeff Wilhoit moved and Eric Franklin seconded to adjourn at 5:45 p.m. All Board members voted in favor and the motion carried.
The next regular meeting will be held on September 14, 2023.
Respectfully submitted by Megan McGuire, Secretary and approved on September 14, 2023