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Water bills have increased dramatically since the integration of the city and counties utility services into one entity, the Cape Fear Public Utility Authority. We received our first bill on September 17 for usage from May 29 to August 7. Our usage increased dramatically causing our bills to double based on higher fees for the meter base and higher fees for consumption. We ask all residents to make certain that they check all fixtures (sinks, toilets etc.) and make certain they are in proper working order. If they need repair call our maintenance department at 910-538-9530 for immediate action. The cost of the repair is minimal to the resident or owner. Please help conserve water usage and save you and your Association money! We now monitor usage every 10 days.

Click Here to view the 2008 Cornerstone Condominiums Budget (PDF)

The Annual Meeting of the Association will be held at the Northeast Regional Library on Military Cutoff Road on Saturday, November 8, 2008. All owners were sent notice of meeting letters on October 2, 2008. It is critical to the meeting to have all owners in good standing accounted for at the meeting either in person or by proxy. If you CANNOT attend the meeting please copy and print the Proxy Statement and fax it or mail it to the address and fax number listed at the bottom of the Proxy Statement. If you are computer inclined you may scan the signed statement and email it to nickjoseph@earthlink.net. Every owner should be represented in person or by proxy.

OFFICIAL PROXY

CORNERSTONE HOMEOWNERS ASSOCIATION INC.

NOVEMBER 8, 2008

FOR MATTERS THAT SHALL COME BEFORE THE ANNUAL MEETING OF THE OWNERS OF THE ASSOCIATION

I, ________________________________being the legal owner of _________________

_____________ located within Cornerstone Condominiums hereby appoints:

(Check one or write in your own representative)

____ Katherine Coiro (Current President of the Cornerstone HOA Inc.)

____ Irene Coleman (Current Vice president of the Cornerstone HOA Inc.)

____ Megan Macey (Current Secretary of the Cornerstone HOA Inc.)

____ John Taylor (Current Treasurer of the Cornerstone HOA Inc.)

or

________________________________________(Write In Name of Representative)

To vote on my behalf on matters requiring a vote during the above referenced meeting.

This Proxy does not extend beyond matters pertaining to the above referenced meeting.

This Proxy extends to members of good standing with the Association. A member in

good standing is defined as a member who is current in his/her financial obligations to

The Cornerstone Homeowners Association, Inc.

DATE_________________________ __________________________________

Signature of Owner

UNIT #________________________ __________________________________

Signature of Owner

Mail to Assoc. Mgmt of Wilmington, LLC, PO Box 12863, Wilmington, NC 28405

Fax to 910-794-4591 or 910-397-0059

 

Click Here to View the Cornerstone's Meeting Minutes (DOC) 

Our insurance carrier for the condominiums has been switched back to Stat Farm (Agent is Tim Moore at 910-686-1272) as of September 11, 2008. The reason for the change was economic in that our annual premium would be the same as 07-08 but with coverage from hurricanes limited to 2% of the damage. You will receive more information in the mail with your annual notice of meeting packet.

All residents should have received the hurricane preparedness letter that was delivered to every door, Wednesday morning. If you did not receive one please call the office and we will get one to you. In addition, all residents are asked to check each window in the condominium and make certain that the tray in the bottom of the window unit is free from debris and is securely locked. All doors and windows should have towels or moisture absorbing materials at the base of the door and windows to prevent water intrusion from wind driven rain. Thanks

ick Here to View the Cornerstone Condominiums Budget. (PDF)

Cornerstone Owners Association Inc.

Board Meeting

March 29, 2008

The first quarterly Board Meeting was held at the offices of Association Management of Wilmington, 5014 Hunters Trail. Board members present were Kathryn Coiro, Megan Macey, Irene Coleman and John Taylor. Nick Joseph, property manager called the meeting to order at 10:00 AM

Old Business

House and Grounds

1. Chuck Wallace, landscape maintenance subcontractor, is doing a good job and is almost complete with the pinestraw for the beds. Chuck will fertilize the last week of April.
2. Megan Macey asked if the same people was picking up the grounds as she has noticed areas that were being overlooked. She also pointed out that the nightwatchman was leaving trash on the grounds from time to time. Nick will check on both of these items.
3. The Board reviewed three bids for the power washing of the breezeways. All breezeways and sidewalks will be cleaned during the month of April by All Clear Pressure Washing and Cleaning Services, which was the low bidder.
4. The nightwatchman is being seen and is doing his job. The night watch service is subcontracted to Regency Security Services. The night watchman is Brian McCabe (910-262-3825).
5. Parking is always to be a problem. Residents are reminded not to park on Sagedale as it creates a liability issue for the HOA. Residents have been ticketed by the Wilmington PD.
6. Bids from A-1 Sanitation and Waste Management were reviewed for garbage service. No change in provider was necessary, as our current provider was low bidder.

Financials

1. The Board reviewed the 2007 Final Income Statement. At year-end the operating account showed a balance of $9,545.23 and accounts payable of $12,230.17. The reserve account showed a balance of $32,334.13. During calendar year 2007 the Association had a net income loss of $5,633.05 which is attributed to the additional cost of Insurance, water and sewer and the painting of Building 4519 and 4521.
2. John Taylor raised questions relative to the Income Statement and will direct his questions to the Associations CPA, Alan Marsh.
3. There are two homeowner accounts in arrears over $1,000. Units 4519-104 (Foster- Foreclosed Upon) and 4519-204.

The Pool

1. The pool will open May 1, 2008 and will remain open until September 15, 2008. The pool will be open during the day and will close at 8:00 PM or at dusk, whichever comes first. All owners are asked to report anyone using the pool that is not with a homeowner.
2. The Board discussed the purchase of some chairs for the pool. Nick will investigate and provide a cost for buying up to six lounge chairs for the area.

 

New Business

1. Nick informed the Board of the results of the Neighborhood Traffic Safety Meetings held January 29 and March 25 as they relate to Cornerstone and the Kerr Avenue area. There are long term plans to connect Sagedale Lane to New Center Drive for exit to Kerr Avenue which will have a stop light installed at the corner of Kerr and New Center. Several items were discussed to slow traffic through the area, but none will be done in the near future. Residents are asked to use great care when entering Kerr Avenue from Sagedale Lane.
2. Nick presented a proposal for bulk cable television and wireless high speed internet from Time Warner Cable. The total cost for expanded basic cable and wireless high speed internet would be $47.58 per unit if the Association paid one monthly bill. The retail cost of the services provided is $103.75. The savings are obvious. After discussion Kathryn Coiro and Megan Macey will submit their current bills for service to Time Warner who will give us an example of the savings. If the savings are as projected the Board will send a letter with voting instructions to all owners for vote to add a technology surcharge to the monthly fee.
3. Nick informed the Board of the foreclosure of 4519-104 (Foster) and of the incident at 4521-202.

 

The next meeting will be Saturday, June 14 at 10:00 AM

 

The annual meeting of the Association was held on November 3, 2007 at the Northeast Regional Library on Military Cutoff Road at 1:30 PM.  Thanks to those who attended and gave valuable input to the meeting. The discussions were most helpful. The minutes will be posted in the very near future. Please contact us via e-mail if additions or corrections are needed to the minutes. The adopted budget is included for your review.

All owners are reminded to make certain that they obtain supplemental Condo Owners Insurance Policy (HO-6) to cover personal contents and loss of use.

Owners are further remided that all unit must now have a workable fire extinguisher inside the condominium to comply with the fire code. The management company will send a certification form to be filled out by the owner confirming that a fire extinguisher is present in the unit in the next mailing.

Please e-mail us with concerns or call the management and accounting office at 910-794-2570.

PARKING AND FIRE PROTECTION

Cornerstone is limited in parking by the City of Wilmington's Planning and Zoning Department which permits two parking spots per condominium. This has presented a problem for individuals that have three persons and three automobiles in the complex. Parking along the entrance to the property on Sagedale Lane is strictly prohibited and is being enforced by the city through ticketing and ultimately towing. Parking along Sagedale restricts the ability of Fire Trucks and Emergency vehicles to enter the property. As a suggestion to alleviate the parking situation unit owners who have only one car are urged to let us know if they would be intersted in leasing their non usued parking space to a resident for a monthly fee of $25 per month. If so, contact Nick Joseph at 397-0092 and he will try to help with the introduction. DO NOT PARK ON SAGEDALE LANE. YOU WILL BE TICKETED OR TOWED.

 Fire safety education and prevention is an ongoing concern. Please make certain that you have an interior fire sprinkler in your condominium. New Hanover County Fire Department is requiring that all unit owners verify that they have an exinguisher in their unit. Soon you will be receiving a form to submit to that effect. If you do not have one they are available at any Home Inprovement or Grocery Store. Please remember that gas and charcoal grills are prohibited by NC Law in multifamily residential communities and subject to fines of $250 per offense. Electric grills are fine. Please obey the law.