The Board would like to offer and sincere and heartfelt Thank YOU to all who attended The Cobblestones’ 2ND Annual Town Hall Meeting.
With a tremendous 53% participation rate, it is clear that we are an activated and concerned community;
making the work we do behind the scenes so much more important.
We are providing this recap for anyone who has trouble hearing, showed up late, or was unable to attend.
After Natasha (serving as President) did a roll call of homes, our Vice President, Amanda Guthorn in E3 offered a better understanding of what an HOA is, what the Board does, how the Board does it, and what a management company’s role is.
Our Treasurer, Sheera Maitland in G11, went over some of the financial information, a 2021 v2 2022 comparison, our assets, and our contract negotiations, namely management and landscaping.
Below are the charts for finances:
The Charts
As Sheera noted, while our current monthly management fees is slightly less, in a month where repairs were needed, our former management’s “10% management maintenance fee / 5% additional over $15K) added an unnecessary expense to our already tight budget.
A management company should never really have full access to all finances.
As mentioned, the Cobblestones’ Reserve Account (TD) is held by the Board and withdrawals are not allowed. Management may request a transfer of funds if the Operating Account cannot cover necessary repairs, but our reserves account should be kept as our emergency funds and approved capital improvement projects, like the replacement of our storm sewer drains and moving our sign / building a barrier to protect our property from traffic.
In better financial times, a portion of the reserves would be put in a high yield CD to earn money on our savings. Currently our APY is 0.05%.
Delinquencies and Our Dues…
When you purchased your property at The Cobblestones, you entered in a binding agreement to pay a monthly fee (member due); a late fees, penalties, and violations when applicable, and any Special Assessments the Board deems necessary. There is no rent strike, there is no escrow option like a renter would have. If there is an issue or conflict, any lawyer would advise you to continue to pay what your obligated to pay and sort it out legally; we must stress it at this time.
Your President, Natasha Hulme D4 demonstrated the breakdown of how your monthly dues are distributed. Below is that chart.
Where utilities, insurance, and landscaping are our highest recurring expenses, It’s The Board’s goal to continue to increase our Reserve Contribution and Capital Improvements while lowering our maintenance expense through effective repairs the first time and reducing the need for legal expenses.
Our legal expenses for delinquencies and collections are eventually recovered by the debtor but The Association must cover the costs of filing and hours until settlement is reached or the home is foreclosed upon. For anyone considering a delinquency, The Board was surprised to find that the attorney representing the Cobblestones collects a standard 30% on the total of the debt. The additional fee is added to the debtor’s account and must be paid.
You can read more about this at:
https://www.legis.state.pa.us/cfdocs/legis/LI/consCheck.cfm?txtType=HTM&ttl=68&div=0&chpt=53&sctn=15&subsctn=0
Parking and Trash
We are all in agreement that the parking lot needs striping and our spaces need clear markings. This is happening but we want your input.
Here’s the form to cast your vote:
The meeting then shift to the mess Republic Services has been leaving in our lots. Their equipment needs repair and we will not allow Republic to push this back on us and residential wet garbage. They have a responsibility to fix leaks in their trucks. As stated, Republic doesn’t seem to leak on the North side of Stenton. Unacceptable to say the least. (Update: Republic has broken its promise to power wash our lot.)
SAFETY
Our neighbor Ann was gracious to share her harrowing ordeal. Her account of getting carjacked at gunpoint in the Mermaid lot last Wednesday lead to a conversation on what needs to be done. Parking lot lighting is now a top priority and we are waiting on 2 more proposals. Andrea (F1) provided the following information for anyone who wished to participate:
A Zoom Town Hall meeting on Tuesday September 20, 2022 at 1:00pm with Captain Frazier of the 14th District, if anyone is interested.Please contact Officer Smith at Dennis.Smith@phila.gov or call 215-685-2148.
Multi-Car Parking
Seeds were planted in a number of topics. Of them was the issue of parking multiple cars on our lot. The Board will be debating this issue and will consult The Association’s attorney to make sure we are doing everything we are supposed to be doing.
Color Palette and Limited Common Elements
The Board gave a palette of paint and stains for the fences. This is the HOA’s responsibility but neighbors, prior to this Board and Onyx management, began to treat their own fences. We are left with 6 color options. We would rather guide towards individuality than hamper making your house your own, but please consider the rules that are spelled out in our Covenants, Conditions, and Regulations.
STUCCO!
It is our plan to have every crack in our stucco sealed before first frost of 2022/23 season and it is our plan to paint the entire complex by Spring 2023 and yes this includes ivy removal and black algae stains.