Dear Fellow Homeowners,

The Annual Meeting of the Homeowners Association was held January 13, 2009. A new Board of Directors was elected. Tim Page (Vice-President) and Carolyn Goslin (Secretary) will serve three-year terms. Chad Cullum (President), John Beach, and Adam Kline will serve two-year terms.

The Board and the Homeowners Association have a lot of work ahead of us. I’m sure we are all interested in making Eagle Point a better community in which to live. If you would like to volunteer your time/expertise to help in this effort, we have numerous volunteer opportunities available on the following committees:
• Finance
• Communications
• Landscaping
• Community Events
• Information Technology
• Welcome
• Architectural Review and Covenants Compliance

In addition, due to increased criminal activity in the neighborhood, we are forming an exploratory committee to evaluate various security alternatives. Those include security cameras, hiring a private security firm to patrol the neighborhood, and the introduction of a Neighborhood Watch program. This was a hotly debated issue at the Annual Meeting and likely has been the topic of much conversation in Eagle Point. If you would like to participate in this evaluation process or volunteer for any of the committees listed above, please contact us at eaglepointhomeowners@gmail.com.

As you may already know, the proposed annual assessment increase was defeated this year. As a result, the 2009 dues will remain at $238. The financial statement attached differs from the proposed budget in that it reflects the decrease in anticipated income as well as the resulting necessary reduction in expenditures to avoid deficit spending for the year. While the Board intends to operate in a breakeven mode this year, the current income will only be enough to cover basic operating expenses, services, and community events homeowners have come to expect. Funding for Board Approved Projects has been eliminated. The impact for 2009 will be a loss of funding for any special projects or to cover unexpected expenditures.

In the past, newly constructed homes have been a major source of revenue for EPHOA. Of course, as our community matures, there is less new construction each year and we are forced to look for new sources of revenue in order to maintain our neighborhood's standards. To that end, we are reevaluating the compliance letter process. In short, when a home is sold or refinanced, we are required to issue a letter of compliance to the title company to ensure the property is in compliance of our covenants. Not only is the inspection process a time consuming matter, it is regularly expected to be completed in short order with little advance notice. To better protect our covenants and encourage a timely request notice, we will increase our compliance letter charges based on the length of advance notice and whether the transaction is a refinance or purchase. There are many real estate professionals in Eagle Point and we welcome your feedback on these changes. Once finalized, these changes to the fee schedule will be published to the website.

While we enjoyed years of stable HOA dues in Eagle Point, we have reached a juncture that demands a change of course. For us to better serve our community, volunteerism is needed now more than ever. To maintain our community and better anticipate future expenses, the involvement of each homeowner becomes more critical in order to deliver the required cost cuts. The more of us who commit our time and expertise to Eagle Point, the better we can assess our future needs and evaluate our current activities. Your contribution of time and energy would be most appreciated. The Board of Directors eagerly anticipates working closely with the homeowners toward the betterment of Eagle Point.

Sincerely,

Eagle Point Homeowners Association Board of Directors and Officers
Chad Cullum
President