Hickory Woods

Board of Directors Meeting Summary

Wednesday, February 16, 2022 @ 1 :30 PM

Attendance: Paul Ramsay, Cherryl Gordon, Bob Medeiros;
Sted Holton (NewStar liaison)

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1. Election of Board positions

• Chairman: Paul Ramsay
• Secretary: Cherryl Gordon
• Vice Chair and Treasurer: Bob Medeiros
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2. Review of 2021 year-end Financial Statements - Bob Medeiros
   * Bob had “nothing specific” to say…decent shape and capital reserve in good shape. Will not meet 2021 goals because of poor interest rates.
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3. Property Report _ Sted Holton

1. Clubhouse basement crack - in the workout room. Water infiltration. Quote at a total of about $15K for outside excavation and crack sealing. Removal of sheetrock from inside and sealing would be between 1-2K. Recommend Pasquale and Crack-X to do the job. Mirrors being removed will be a huge project. Talked about addressing all cracks in the foundation - about $2K total.
   Discussion: Gutters? Might make sense.
   Yoga room would be inaccessible during work.
   Motion to appropriate $2K for crack filling and plaster repair.
   Passed 3-0. Work will be done within a 2 week period.
2. Clubhouse electrical - North side pendant outside is problematic. Electrician (Jordan Hill - highly recommended) proposes outside photo cells to eliminate manual timer controls plus new lights. Total cost is $415. Passed 3-0.
3. Bartlett Tree - Would like to meet with homeowners who need trees looked at. Proposed dates - early March 14-24. No commitment - just a walkthrough.
4. 2021 financial review (3rd party accountant)($3 to $4K) - Third party should be brought in every few years but has never been done. Cost is $3-4K. A report would be made available to the community.
   Discussion: Previous has not been done - other boards decided against a forensic audit because it would give us no additional info. This would provide transparency and assure “solid ground.” Liability insurance requires that financial stability be assured. Money is in the budget already. There may be recommendations for smart changes (ex: moving money to other banks)
   Passed 3-0 (not to exceed $4K)
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4. Clubhouse Committee Report - Bob McGrath - all yearly inspections have been done. Front doorbell now has batteries and works. Coming - AC compressor inspection; window cleaning needed; septic pumping is due (4 years since done).

1. FitTrax - up and running.
2. Shutter work - Weather beaten. Need 4 sets - about $85 per pair. Same vinyl shutters - would be black because they weather better. Bob will be getting info to NewStar.
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5. ARC Requests

1. 22 Black Forest - retractable awning. Approved.
   20 Black Forest  - installation of 3 windows
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6. New Business
   * Bob Medeiros is investigating installation of a well for the Clubhouse (we are paying $5K - 2021); will have more info soon. Could be a 4-5 year payback. Question about the quality of the water, but it shouldn’t be an issue for lawn watering. Water for the clubhouse would remain with Pennichuck.
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7. Community Comments
   * Please consider supporting the board - outside management is not fiscally advisable! Run for election!
   * Sted has been a great addition and makes the Board’s job easier. People might be encouraged to step up to serve on the board.
   * Compliment to Sted for email communication to the neighbors, especially during the recent snow storms. Much appreciated!
   * Can communication go out to the whole meeting regarding the situation of needing folks to step forward? It will be included in the formal meeting minutes and is also available in the informal summary on our webpage.
   * Updates on land to be developed on 102? No info according to Bob Medeiros who has been checking with Town Hall. New land for sale behind the courts/golf nets - 15 acres $350K. Bob spoke with John and Rick about the land abuting Church Lane - $450-500K. They are “busy” with Cross Farms and are not looking to develop their land abuting Church Lane yet.
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8. Adjournment - 2:15 PM