HomeMy WebLinkAbout02-15-2023 - Minutes245192 MINUTES OF MEETING OF THE BOARD OF DIRECTORS OF FOREST HILLS VILLAGE, INC.,
HELD FEBRUARY 15, 2023 Pursuant to written notice to each of the directors, the monthly meeting of the Board of Directors of Forest Hills Village, Inc., was held at 7:30 a.m. on February 15, 2023 at Little Castle Restaurant. The following directors were present: Brad Arterburn, Shirley Walker, Melissa
Yates, and Paul King. Also present were Lori Knight, James Burgett, and David Denton. THE FOLLOWING BUSINESS WAS TRANSACTED: ITEM I: Upon motion made by Mr. King, seconded by Ms. Walker the minutes of the
meetings of November 16, 2022 and January 20, 2023 {annual meeting with no quorum present} were approved as written. ITEM II: Mr. Arterburn reviewed the January 2023 operating report. Particular attention
was devoted to Income Line 555, cash balances, including the LPL Financial Investments
($661,868.14) and inflationary factors. Staff will take each of these matters in consideration as they prepare a draft budget for 2023-2024. As part of the proposed budget, staff shall give its recommendation for adjustments
to the existing rental rates.
A further board discussion and questions arose with staff asking for board guidance concerning the practice of corrective maintenance at units versus more thorough and permanent solutions. The directors appreciated this matter being brought to their attention. Examples were
given. The directors asked staff to present this matter in more detail at a future meeting.
ITEM III: The Staff Report was then presented by Ms. Knight and included the following:
a. Forest Hills received 15 applications for rental units in January 2023, with
3 being approved, 7 being rejected, and 5 having no response. b. Forest Hills has 116 active applicants on the waiting list in January 2023. The breakdown of applicants is as follows: apartments-16, two-bedroom small-37, two-bedroom
large-3, 3-bedroom small-28, 3-bedroom large-32.
c. The occupancy rate for January 2023 was 98.14%. ITEM IV: Mr. Burgett gave the following maintenance report. Maintenance performed
in January 2023 consisted of 1 house and 3 apartments. Also, 3 water heaters, 2 drain jobs, and
159 maintenance requests for tenants were completed.
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Ms. Knight is pleased with the level of service that she observes in the maintenance staff
and its performance. She anticipates hiring one (1) additional employee for the department.
ITEM V: The President asked the employees to leave the meeting so that the directors could have a private discussion pertaining to the election of officers. Thereafter Mr. Arterburn voiced his decision to not stand for re-election as board president. He did, however, state that he
would remain as a director at this time.
After discussion the following motion was made, seconded and unanimously approved: MOVED, that effectively immediately, the new officers for Forest
Hills Village, Inc. shall be the following:
Paul King President Brad Arterburn Vice President Melissa Yates Secretary
Bruce Brockenborough Treasurer
Mr. King will review Committee Assignments in the near future. ITEM VI: The next board meeting is scheduled for March 15, 2023.
ITEM VII: There being no further business to come before the Board, the meeting adjourned.
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President ATTEST:
__________________________________________ Secretary