Old Lexington Trace Homeowners’ Association Planning Meeting Minutes
October 23, 2003

The meeting was called to order by Venessa Banks and she explained that the purpose of the meeting was to determine the interest level for a homeowners’ association and what is needed to make it happen as well as the benefits of having one. Our protective covenants being upheld and our two entrances maintained being our first concerns, as when Star Builders finish building here they will not handle these main items.

Venessa introduced Kip Carter, President of Olde Lexington Gardens Homeowners Association who spoke to us about his experience in organizing their homeowners association and how it works for them.

Kip suggested that we would need a lawyer to incorporate and he gave us the name of the lawyer that they used and estimated the cost might be in the $150 range. He explained that their recent experience of one of their entrances being destroyed and that the $15,000 for replacing it from the insurance company could not have been done without their being an incorporated association.

Olde Lexington Gardens has an annual dues of $90 ($10 of which is for welcoming new residents). This non-profit association uses the dues to pay for gas lanterns, maintenance of their two entrances, postage and office supplies for newsletter and directory. They typically have meetings in the spring and fall and an annual meeting.

Kip recommended that we have an interim Board of Directors to develop by-laws and become incorporated. Meanwhile we should send ballots to all residents of Old Lexington Trace with names of those who are interested in becoming one of the 4 officers and solicit names of anyone interested in running for an office. We will have another meeting where anyone running for office can give a brief presentation of what their qualifications are for the position.

Once a slate of officers is voted upon those elected would become the Board of Directors as well.

By a show of hands there were 17 homes represented and voted in favor of a Homeowners’ Association. There were none opposed! The meeting was adjourned.