How much do you think we had in Reserves in 2016? While 2017 has presented us with both challenges and gifts, we have come out on top! Our results are not only surprising but incredible! Thanks to our community and board of managers we were able to increase our reserve capital by 959% ! Click on the presentation link to learn more:
I joined the condo board in August 2015, having no idea what I was in for. I wasn’t happy with the direction White Gate was headed in. At the shareholder meeting in May 2015 led me to believe that it was the board’s decisions that were leading to this. I voiced my opinions and challenged the board’s responses (this is a normal day for me lol) and that is when the homeowners collectively said Janelle should join and I did.
It wasn’t without struggle as some of the board members didn’t want me on because they believed I would challenge certain ideas and when I did get voted on, I did exactly that. I made friends and enemies but at the end of the day we got the job done. My first presentation was in 2016 at the shareholders meeting and people were angry. The place was going downhill and we had to do a special assessment. It was maybe my 4th time speaking in public and it had to be in front of an angry crowd. That took some courage.
I started the presentation with what our problems were and how much they cost. We had over $200k in problems that needed to be solved and $77k in reserves. You can see how we had a problem on our hands. By the end of the meeting everyone agreed to the assessment and the planned we set forth. We spent the rest of 2016 collecting the assessment and in 2017 we moved in to action.
We addressed roofing issues, pavement issues, water issues, electrical issues and we even were able to put money in to capital improvements. We purchased new signage and new gazebos for students as they wait for their bus in the rain or shine. We began painting. We really needed to update the place. We were able to accomplish this because we re-budgeted and with the special assessment we ended up with $498,000.00. We are also in the process of moving our common area access to key fobs.
I am excited to see where we head in the next few years and I believe that White Gate will reach its full potential! 2018 and 2019 will continue to bring us more beautiful improvements. We will continue to overcome our challenges!