Gig Harbor, Washington 98335

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Bridgewood Estates Homeowners Association
Annual Meeting Minutes
May 19, 2009 - Gig Harbor Library

Attendees: Thirty-seven homes were represented.
HOA Board members present were: Joe Faulkner, Bill Koontz, Darryl Roundy, and Dianne Matthes.

The meeting was called to order at 6:35 p.m. by Joe Faulkner. Joe welcomed everyone, thanked them for attending and introduced the HOA board.

The minutes from the 2008 annual meeting were read by Dianne Matthes, a motion was made, seconded and approved to accept the minutes.

Bill Koontz gave the Treasurerís Report: Income in 2008 was $74,618 and expenses were $63,238. Only 2 properties remain outstanding for the 2008 homeownerís dues. One home is in foreclosure and those funds will be received when the home is sold. The annual dues for 2009 were increased the allowable limit per the CC&Rs. Cash on hand is $64,111; expenses for 2009 to date are $18,118. A motion was made to approve the 2009 budget, it was seconded and passed. An unexpected expenditure this year was real estate taxes. For some unknown reason, Pierce County had never charged the residences in Division II for the taxes on the common grounds; the HOA received a statement, including late fees, which needed to be paid immediately. Bill Koontz talked to Pierce County but didnít get any satisfaction; the HOA paid them to avoid any more late fees. Pierce County could not justify why this happened but in the future, residences in Division II will be required to pay those taxes, these amounts will be added to the annual dues statements. It only amounts to approximately $3.00 per residence per year. Divisions I and III already have this added to their tax statements from Pierce County.

Future expenses will be the repair of the sprinklers at the entrances. Since work is being done on Jahn and 32nd Street, by both Pierce County and Peninsula Light which encompasses those areas, the HOA Board will wait until that work is finished before authorizing updating the sprinkler system.

Joe introduced Juanita Carbaugh from HOA Community Solutions, the new management company handling our affairs. Juanita explained their services.

The HOA Ballots were tallied; a motion was made, seconded and passed to accept the HOA Board as follows:

Joe Faulkner
Bill Koontz
Dianne Matthes
Sharon Reid
Darryl Roundy
Donald Challman
Dale Welton

The meeting was adjourned at 7:55 p.m.

Respectfully submitted,

Dianne Matthes