Note: This summary was compiled by an attendee at the meeting and is NOT an official minutes of the meeting. This is presented to keep unit owners up to date until the official meeting minutes become available after they are approved.

Hickory Woods Board of Directors Meeting Agenda
February 19, 2020 (Wednesday)
1:30 PM Clubhouse

Call to order – 1:30 PM

Attending Board Members: Phil Lee, Pat Hoopes, Nancy Shearer, Bob Medeiros. Absent: Rick Newman

1. Review of January 15, 2020 minutes – accepted 4-0
2. Review of January 2020 financials – Good start to our year, near break-even.
   Major bills included: a legal bill on easement discussion; contract for elevator maintenance; Alarm inspection.
   Maturing CDs
   Two CDs with Enterprise Bank which yield 2.23% are maturing 2/24/20
   -one is for $87,000
   -other is for $41,000
   -Also $32,182.79 in reserve savings; $25,000 to be moved into CD
   Enterprise Rates:
   18 Months       1.84%
   24 Months       2.03%
   Primary Bank Rates:     18 Months       2.00%
   Motion: Move proceeds of $41,000 maturing CD plus $25,000 from reserve savings to Primary Bank for investment in a 18 month CD at 2%.  Reinvest proceeds of maturing $87,000 CD into a 24 month CD at Enterprise Bank at 2.03%.
   Passed 4-0.
3. Management Report:
   *Two lights on the flag pole were out and now a third one out. Repairs will need to wait until spring.
   *A treadmill with 5 years of use needs maintenance work ($800 cost). Clubhouse committee will look at getting the repairs done. Potential advantage to replacing three machines but it will be a large cost. Or, should a high-end purchase be considered?
   *Monitoring of damages due to snow removal. This winter we have had 4 mailboxes damaged – may be due to the heavy wet snow. Curbing damage will be assessed in April.
   *Looking into the removal of the shells in the bocce court and installation of artificial grass.

4. Committee Reports:
   Clubhouse Committee: Bob McGrath reported that things are “status quo.” They will set up a schedule for installation of the golf nets and patio furniture. Fire alarm box was fixed yesterday. Request us to call the board members or clubhouse committee if the alarm box is malfunctioning. Discussion of the failed flag pole lights – due to moisture leaking into the seal. Two are under warranty and will be replaced at manufacturer’s expense. Comment that Alliance has not been shoveling the pathway to the flag pole and snow might be contributing to the moisture issue. Might be sensible to look at a different light design.
5. Application for Improvement Requests: None
   Old Business
6. Financial review: Since the start of Community Control (2/16) we have not had a formal review of finances. It’s not an audit, but rather to see if HW is doing things properly. This is a common practice for HOAs and is not as expensive as a full-blown audit. Cost should be around $2000. It’s routine and not driven by any irregularities. We would need to find the budget money (having spent $1500 already on legal expenses concerning easements). Recommended to hold off until another budget year and include it in the budget.
   New Business:
7. Board liaison for Clubhouse Committee – Rick Newman will be the liaison starting in March. It’s customary that the vice president of the board be the liaison. Motion passed 4-0
8. Developments at our Tavern Hill Road entrance – nothing new. Monument work completed on perimeter of HW.
9. Summary of meeting with Town Engineer, Town Planner and Town Manager – Londonderry Senior Community Coalition. Altogether, the 55+ population amounts to 1400 voters.
   *Issue of private roads – our “private” communities pay the same tax rate as areas with publicly maintained roads. State level study committee: House Bill 1490 would study taxation of communities with private roads. Information will be coming this week to encourage unit owners to contact state legislators.
   *Another bill is also pending to limit tax increases on people 67+ to 1% per year.
   *Another effort to find out where we stand with our roads being private and what it would take to make them public. Bottom line is that our developer and 7 others received variances to build. For HW to move forward would be a long process involving re-approval of the variances and the upgrading of the roads to town standards. (ex: Public roads are only allowed a 12% grade and HW does not meet that standard. There are two roads that are “driveways” – Church and the end of Pepper Hill.) There are many communities with these private roads – not all are 55+. There would be no guarantee that the proposal to become public roads would be accepted. It does not look promising but if it were to go forward it would be a community-wide discussion and decision.
10. Summary of Town Assessor presentation was sent out via email and is available on the HW website. Biggest item is that $5000 is added to assessments if you have a permanent generator (adding about $100 per year to your property taxes).
11. Community Comments:
    Budgeting for next year… Engineering Study of 2016 should be reviewed because things have changed (we now no longer have to set aside funds for leach field maintenance). Discussion – recommended to review it every five years. Cost would not be too high. Having a “Reserve Study” would cover these changes. It was last done in 2018. Recommended to review the reserve fund every five years.
    Comment for New Star that last week the roads were slippery and an email was sent to New Star. The response was that Alliance was out salting, but there was no Alliance seen in the neighborhood. This morning again it was slippery and Alliance was here after 9 which was too late. Tim said he would let Jason know.
    Adjournment @ 2:32 PM