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Letter from President

December 2019

To: Water’s Edge Association Homeowners:

Greetings and Happy Holidays to all as we enter the Winter months here at Waters Edge. We accomplished a good deal this year. We replaced roofs on two buildings as scheduled, with gutter guards to reduce our expenses in cleaning, and approved gutter guards for a 4-unit building that was omitted when roof was replaced a few years ago. Our front deck project continued largely as planned, but 4 units were postponed due to unexpected cost overruns for this year’s budget. We will resume with those decks next year. Chase work continues as planned. We have had many comments about our landscaping, and certain areas not being up to community standards. We understand your concerns, and as a result have formed a landscape committee consisting of 2 board members and several volunteers. The property has been inspected, diagrams/notes made, and recommendations for remediation have been developed. We are starting with removal/trimming of some problem trees and will begin to plant a few new trees in the Spring. Looking ahead the biggest unexpected challenge we face next year is the deterioration of our pool, which will require major renovation this Spring, at a cost just under $30,000. Our 10 year plan had a budget for pool renovation in 2026, not 2020. To bridge the gap, the board decided to not spend some of the capital improvement money this year, and use it to help pay for the pool next year, as well as decrease the budget for chases next year. However, we have determined that even with these measures, it will not be possible to fund our operational expenses, AND maintain our buildings and landscape at community standards. Our primary source of revenue is homeowner dues, which have not changed in 14 years. We are trying to fund expenses in 2020 with 2006 dollars, which we all know doesn’t really work. It’s a fact that our operating expenses have increased 24.5% over the past 5 years. As a result, in order to pay our operational expenses, this board and previous boards have shifted money away from capital improvements. Ultimately, this leads to the detriment of our community. To halt this trend, your board has determined that effective 1/1/2020, homeowner dues will be increased by 7.5% for all units. (As a reference point, if we had wanted to catch up to inflation, from 2006-2020, an increase of 29.82% would have been required). We can assure you that after expenses, the additional funds will be put to good use including pool, road and landscape improvements, and continuation of our roof, gutter guards, chase, and deck projects. Thank you for your support.

Cordially,

Steve Moffett President

Water’s Edge I HOA and your Board

Annual Water’s Edge 1 Christmas Party

Mark your calendar for our annual Christmas party!

Join us December 13, 2019 at 6pm in the Clubhouse Upper Talons Room.

Please RSVP On the Eagle Pointe Community Facebook post under Sheri Sering-Smith’s post complete with menu. We look forward to seeing you there.

PSA Approves Hiring Cohoat & O’Neal/Sahm’s

To: Eagle Pointe Community Members

From: Betsy Larson, PSA president

Date: November 12, 2019

Re: PSA Approves hiring Cohoat and O’Neal/Sahm’s

With an overwhelming majority, the Pointe Service Association (PSA) board has voted to hire Cohoat & O’Neal Golf Course Management and Sahm’s Restaurant Group. The deal, which is not yet finalized, targets a start date for Cohoat and O’Neal to take over golf operations on December 1, 2019 and for Sahm’s to assume responsibility for the restaurant and catering business on April 1, 2020. Cohoat and O’Neal will manage the restaurant until April 1, 2020, during which time Ed Sahm will implement changes envisioned for the restaurant and catering business.

The PSA Executive Committee is working with Mutual of Omaha to secure funding that will sustain the organization until new revenue streams are identified and operational. All indications point to approval in the next week to ten days. If/when the financing comes through, we will notify you.

Tony VanNess, Matt Englert, Doc O’Neal and Ed Sahm will be working together in the interim to ensure a smooth transition. In the next few weeks, Tony and the Cohoat and O’Neal marketing team will launch their premium membership option for 2020 as well as a new membership program based on a concept developed by Chuck Thompson, called the Mulligan Marketing Concept. (To read more about how the Mulligan concept turned around the Legends Golf Club in Franklin, Indiana, click here.)

We also want the golf course and restaurant to be great places to work, and we are confident that Cohoat and O’Neal and Sahm’s will be great employers. They will hold staff to a high level of accountability, but make sure they feel like a part of a family. Ed Sahm has stated multiple times that he has had staff members on his teams well over twenty years because he values people and gives them the resources they need to be successful.

The community’s partnership with Cohoat and O’Neal and Sahm’s is extremely exciting. We have all been lured by big dreams and promises of grandeur with previous owners. But this is different. The PSA board is working with experts with a proven record of success. Our primary focus is on long-term financial viability for The Golf Resort at Eagle Pointe, and we plan to get there by making decisions based on fact, hard work and accountability.

The Executive Committee and the PSA board have reviewed and discussed budgets, projections, and agreements. We have talked to the LLC board and other golf management consultants. We have fact-checked, brainstormed and debated thoughtfully about the difficult challenges ahead and how to overcome them. We have asked you for input and suggestions, and we have communicated openly with you. With this in mind, please respect and honor — even embrace! — our future.

I hope you’ll join us in supporting the PSA board, the community and the staff in making The Golf Resort at Eagle Pointe a fabulous destination in our backyards!

PSA Quarterly Dues

To: Eagle Pointe Community
From: Betsy Larson, PSA president
Date: October 23, 2019
Re: Quarterly dues increase

On October 19, the Pointe Service Association (PSA) board voted to increase quarterly dues for all Eagle Pointe community members by 15 percent. Effective January 1, 2020, each property owners’ quarterly dues will increase from $135/quarter to $155.25/quarter. (The increase will appear on the December 2019 invoice.)

Remember that quarterly dues were $155 until January 2016. At that time, the PSA board reduced quarterly dues because the cable contract became obsolete. The 15 percent increase in 2020 will return dues to their previous amount.

The golf course remains a fledgling operation with ongoing start-up costs, capital investments, repairs, maintenance of equipment and operational losses. The PSA is supporting the golf club more than anticipated. The cost of goods and services also increases over time. Raising dues is one component of a broader plan to reach financial stability.

As we work through what the future might look like for the Golf Resort at Eagle Pointe, the PSA board’s primary responsibility is the financial viability of the community. We are actively working to achieve that goal with the least impact on homeowners.

As always, if you have questions or concerns, please contact a PSA board member.

Update on Cohoat and O’Neal Contract

To: Eagle Pointe Community
From: Betsy Larson, PSA president
Date: October 16, 2019
RE: Update on Cohoat and O’Neal contract

On October 12, the Pointe Service Association Executive Committee received a proposed budget from Cohoat and O’Neal, which included the Sahm’s food and beverage component. After careful review, the Committee determined the proposed budget terms were unacceptable.

The Committee’s biggest concerns were with the Sahm’s component. We believe the management fee was too high, the catering component was undervalued, and the overall partnership with Sahm’s is not as beneficial from a risk-reward standpoint.

While many board members continue to believe that the PSA should get out of the golf management business and turn things over to a consultant/management team, the budget and arrangement in its current form are not acceptable. It’s important to understand that we are still in the early stages of negotiations and have not “abandoned ship” or have any plans to take a completely different route.

As planned, we will have our Quarterly Meeting on Saturday, October 19th at 9:00 at the Eagle’s Nest. However, it would be premature to share information regarding the contract with the community at that time. The PSA board will not have a private meeting regarding the proposed contract after the Quarterly Meeting and there will not be a PSA board vote. The PSA board will conduct its usual business in al closed-door session after the Quarterly Meeting.

Whether we partner with an outside management team or continue as we currently operate, we still need to determine how we cover potential future losses. Glenn Adams and his team are still working with banks and other financial institutions to bring us viable options. I don’t have any updates since our last meeting.

Please feel free to reach out to me or any of the Executive Committee or PSA board members if you have questions.

PSA update for September 2019-Golf Management Partner

The PSA Board met on Tuesday September 17th to hear more about the idea of engaging a golf management partner. Cohoat and O’Neal (C&O) were onsite to talk to the Board and answer questions. Prior to selecting C&O, a subset of the Executive Committee met with three companies in late August/early September.

The Committee talked to two larger national companies (Troon and Billy Casper Golf) and a locally based company. They have selected to engage with the locally owned and operated company Cohoat and O’Neal for several key reasons. One of the key differentiators between the three companies was the idea that the locally owned operation and had a more “hands on” approach. The fact that they are an Indiana based company was equally impressive not to mention their many years of golf operation management expertise.

Cohoat and O’Neal was established in 2011 based out of Carmel Indiana. They own or operate various golf courses throughout the state of Indiana. One of their signature golf courses is located in Carmel called Prairie View Golf Club where they host the IHSAA Girls and Boys State Championships through 2024. It was also the host site of the 2019 PGA Professionals Championship (Indiana PGA).

No firm decision has been made to move forward with Cohoat and O’Neal and no firm commitment or contract has been signed. Just like you, we need to learn and know more. They have been on site talking to management, employees, and your Executive Committee and assessing what’s working well and what they might bring to the table to help make this a premier destination and standout community. The PSA Board will be deciding if engaging with a third party expert is a better option and model for our community and the golf operation at The Golf Club@Eagle Pointe.

If you would like to learn more, please visit their website at https://www.cohoatandoneal.com/. In addition, Cohoat and O’Neal will be onsite to talk to the community on September 28th at 9:00 in the Eagle’s Nest.

The Executive Committee and your PSA Board will make every effort to communicate more details as they become available. Please feel free to reach out to any of them if you have questions.

Water’s Edge I PSA Representative: John Teising

Letter from PSA President

Letter to PSA Board from Betsy Larson PSA President

Since the July PSA Quarterly Board meeting, the Executive Committee has been working closely with the LLC Board and golf operation to address the financial, service, and overall quality issues. After much consideration, we think the best path forward for the community and the viability of owning and operating the golf operation would be to partner with a Golf Management company.

We have interviewed 3 companies and have selected Cohoat and O’Neil (pending PSA Board approval) which is a locally owned and operated company. We believe they can help us bring a higher level of professionalism and expertise to ensure our financial viability going forward.

We are calling a special PSA Board meeting on September 28th at 9:00am. At that meeting, the golf management company will present their proposal and answer your questions. We will be asking for your approval to partner with the new golf management company effective October 1, 2019. The employees of the golf operation will be communicated to at the same time we are sending this email.

The agenda for the September 28th meeting:

§ Cohoat & O’Neal Presentation § Approval of by-laws § PSA & The Golf Club at Eagle Pointe Financials § Vote to move forward with new golf management company § Other Business § Open Discussion § Adjourn

We very much appreciate all that you do as Board members of not only your own village but also the PSA Board. Ensuring that we continue to improve our community, provide a great experience for all using the facility and the continuing improvement of our home values depends on you participating and supporting in decisions to ensure our future financial viability.

Based on the importance of the meeting and the significant changes we are recommending, we ask that you make every effort to attend. In addition, we would like to invite the community to the Cohoat & O’Neal presentation. The meeting will be at the Eagle’s Nest at 9:00am. Please forward this to the members in your community. In addition, we will also be posting this email. Please feel free to reach out to me or any member of the Executive Committee.

John Teising
Water’s Edge PSA Board Member
jteising54@hotmail.com

Water’s Edge 1 Community Day-September 7th, 2019

Saturday, September 7th, 2019

Pitch-in the work. Weeding, trimming, planting. Please bring shovels, saws, clippers, rakes, or just yourself.
Pitch-in the fun follows at 1pm-?
Burgers & Dogs provided.
Bring a side or dessert to share
B.Y.O.B
Text questions & RSVP to 219-742-5442

9th Amended Declaration of Expandable Condominium

View the attachment below two documents or additional details and information.




Declaration Amendment



Letter to Residents

 
Please click on the link below to vote on the 9th Amendment. Please also view the attached document in reference to the 9th Amendment here.

Monthly Letter From Water’s Edge President Brian Earley

WE HOA Board Meeting September 2017

I hope everyone had a great summer!

We are still working on multiple projects to improve our property.

We have three building roofs being removed and shingled. We are trying some gutter guards on these building to prevent the problems we experience every spring and fall with leaves clogging our downspouts.

Throughout our village you may see signs like the one pictured below. This is a new program intended to recognize homeowners who have self funded the landscaping in thier yards. All requested landscaping must first be submitted through our Landscaping Request area for approval. Seth Inman, our landscaping partner, works directly with homeowners to create an area that reflects the ideas of the homeowner while using plants or trees that are deer and locally friendly. Many of you have worked with Seth and experienced his talent in creating beautiful spaces. Should you wish to submit a request to work with Seth, simply make a request using our “Landscaping Request” area of the Homeowners landing page. The signs you see in some of our yards are intended to identify landscaping that has been paid for by the homeowner, not the HOA, and remain in the yards for approximately 30 days. Thanks to so many of you who have added so much beauty to this community.

As a reminder, all pets are to be on a leash when they are outside on the property which is an Indiana restraint statute. Please pick up your dog waste as well.

I stated at the annual meeting that we would be evaluating our HOA dues this year since our general expenses are starting to exceed our capital improvement expenses. As you may remember, we have not increased our dues in over 8 years. We are evaluating all options including changing our HOA insurance from single entity to bare walls, increasing HOA dues and cutting back on our capital projects. We will be giving our residents plenty of notice prior to making any changes. Finally, we have received several parking complaints throughout the year. Please be a good neighbor and line up your vehicle with the concrete parking stop. Every owner is responsible for their guests as well as their renters. If you have any issue with someone taking multiple parking spaces, please contact security to communicate the problem and your reporting will be kept anonymous. Security will speak with the vehicle owner and request the vehicle be moved to utilize only one space.

Thank you all for a great summer, and thank you for your continued support of this Board.

Sincerely,

Brian Earley
President

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