Fountain Trace Homeowners Association Directors

Fall/Winter 2024 Newsletter

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​The Fountain Trace Board of Directors for 2024 wishes everyone a safe and happy holiday season.

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Annual Fountain Trace Homeowners Association Meeting

 

The annual homeowners’ association is scheduled for February 4, 2025, at Crosspoint Church at 5737 Cemetery Road.  We will open the doors at 6:30 pm to give homeowners a quick chance to personally meet the Directors and then the meeting will begin at 7pm.  As a reminder, Association dues of $375 are due in full by 31 Jan 2024.  Dues not paid by that date will incur late fees of $25 each month until they are paid.    Please put your Lot number or address in the notes of the payment. A Venmo account is available to enable homeowners to pay via that avenue if they choose. The account is FTHOA, and it shows a picture of the front entrance sign. You can pay by mailing your check to Treasurer Kirk Tisdale at 814 Ann Marie Circle, Bowling Green, KY 42103.  If paying via US mail, please remember that mail is becoming increasingly slower in delivery.

 

Please consider volunteering to serve on the Board of Directors.

Directors are nominated and elected at each annual meeting to serve for one year. The Board of Directors consists of no more than 6 and no fewer than 3 members as stated in the HOA Covenants. The officers of the Directors (President, Vice President, Secretary, and Treasurer) are elected by the directors themselves at the first directors meeting after the Annual Homeowners meeting.

 

The current directors believe it is important to have some maintenance of knowledge and a great way is to bring new directors on board. This also helps to insure that varied and new ideas are available.

 

 

ANNOUNCEMENTS

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Following the two sinkhole repairs required this year a committee was formed and met to address the potential of future repairs and options available for homeowners.

It is worth noting that the last repairs made included an overflow sink for water which has and hopefully continues to last for many years to come.

 

 A consensus of the committee was to create financial reserve silos to deal with:

1. Approved annual budget (approx. $45,000)

2. Immediate safety repairs for any sinkhole (approx. $30,000)

3. Overhaul of pond or removal of pond as approved by majority of homeowners (approx. $150,000-?)

 

To build these financial reserves an increase in annual dues would be necessary in order to at least fill the first two within the next couple of years. It was suggested that an increase from $375 to $500 would be appropriate.

 

The Board of Directors held a discussion and believes another option to the silos is to amend the Bylaws to limit the Board of Directors expenditure to 20% over the approved annual budget unless a special homeowner meeting is held, and a majority of homeowners approve extra expenditures. An increase in the annual dues would go into one reserve to be utilized as necessary and not just on the pond. These suggestions will be discussed and voted upon at the annual homeowners’ meeting in February. Please plan on attending!

 

2021 Board Accomplishments

 

The following items have been accomplished over the past year.  We will review these items at the annual meeting and will be happy to go into more details of any items at that time.  We want to keep the Association advised of our work.

 

• Repair of two pond sinkholes

  • First completed with cost to HOA for $5000 (due to significant discount from homeowner Darron Wheat as contractor)

  • Second completed for cost of $15,125 (also with discount from Darron Wheat as contractor) which included sink for water overflow to reduce/prevent future sinkholes

• New well pump for pond installed

• Architectural Review Committee (ARC)

  • 4 Requests submitted for 2024 and 3 approved.  All request responses occurred within 48 hours.

 

• Regular Board of Directors Meetings as well as Special Meetings to address issues

  • Board meets at least every 2 months insuring good communication and follow up on assigned tasks

  • Insured all Directors were informed and involved in each decision and expenditure

  • Regular and Special Meeting Association Newsletter posted throughout year keeping Homeowners informed of Board actions.

• The total cost of the repairs for the sinkholes and other improvements was $31,894

  • Thousands of labor costs were saved due to volunteered man hours

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If you have any suggestions for improvements in the neighborhood, especially any cost-saving measures, the Board of Directors welcome your input.

 

 

2024 Board of Directors:                                                                                            Architectural Review Committee:

 

Steve Grilli (President)                                                                                                  Ed Whitehead (Chairman)

Joe Macrino (Vice President)                                                                                        Kirk Tisdale

Chip Rice (Secretary)                                                                                                    David Upright

Kirk Tisdale (Treasurer)

Chris Champion (Member At Large)

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