Minutes from Previous (2019) Annual Meeting of Members

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Water Board Report

From Dale Timmons

Please share this with the HOA and meeting attendees.  I will not be able to attend tonight.  If anybody has questions, please direct them to me.

I spoke to Jay Krauss at Sammamish Water and Sewer today regarding the potential sale of Overdale water rights to SAMMPLAT.  I’ve been in contact with Jay for the past year on this topic.  Sammamish has an interest in the water rights but is currently working on consolidating their own water rights.  They are in the SEPA process and preparing to file an application with Ecology.  During this process, they do not want to “muddy the water” by attempting to acquire any additional rights.  Once this process is completed, Sammamish has indicated that they will seek additional water sources to incorporate into their inventory.

The process with Ecology could take up to a year to complete.

The Overdale Water Association account currently has $286,105.28 in the Fidelity Account.

The Overdale water rights currently reside safely in the Washington State Water Trust.  They still belong to Overdale. We have two options including:

1. We can wait until Sammamish is ready to enter into negotiations with Overdale in earnest to purchase the water rights and try to sell them.

2. We can relinquish the rights now to the state trust, pay down the neighborhood’s debt with King County and dissolve the Water Board. This would result in each eligible homeowner receiving a credit of something between $1,500 and $1,800 on their ULID account. The exact amount would be determined after all taxes and expenses were retired.

Option 1 could take a year or more and there is a chance that a deal may not be consummated.  If we can close a deal with Sammamish, it would likely result in an additional $100,000 to $200,000 for the neighborhood to pay down water debt.  If we abandon the water rights to the state trust, it would be a final decision, there would be no additional income and there would be no going back.

With the loss of Jay, the Water Board no longer has a quorum.  We need a volunteer to join the water board so that a valid voting decision can be made on what to do next. This volunteer position really does not require a time commitment.  We just need a body and somebody willing to have an occasional phone conversation and to occasionally vote.  Input from the HOA is always welcomed.

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Best Regards,

Dale M. Timmons, R.G.

Thoughts from the neighborhood

• No reason to sell.  Lets wait

New Business

• Elections

  • 4 openings and 4 people of interest

  • Any others interested parties – No

  • Nominees elected at 8:00 PM

• Play Structure

See Handout

• When is the nex

Open Questions

• When is the next concert in the park

• Power pole project will take a year

• When trees fall

  • Party with damage files the claim not the one who owns the tree

  • South of SE 58th St.

  • Is there anything we should be aware of

• Claus – junk cars are being collected on a lot

  • Board will contact Claus to

Adjournment:

Adjourned at 8:22

Minutes submitted by: Amber Malmgren

Next: 2020 Board Elections

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Minutes from Previous Annual Meeting of Members

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Submitted by: Amber Malmgren

Due to the concerns of COVID-19, the 2020 Annual Meeting of Members was done through our website. Members received a mailing of necessary information, but were encouraged to access this information and conduct all business on the website. Members had 10 days to complete the online form to permit the meeting to be counted. The meeting documents and online form were as follows:

1. Minutes from the 2019 Annual Meeting were approved through an online vote.

2. Board Elections – We had four (4) positions up for election. The candidates were Rich Loudon, Stephanie Watrous, Sarah Bergdahl and Nishant Dhwaj. All candidates won their election. Your Board for 2020 was as follows:

Rich Loudon President 

John Doggett Vice President 

Nick Abdelnour Vice President 2 

Stephanie Watrous Treasurer 

Amber Malmgren Secretary 

Sarah Bergdahl At Large 

Nishant Dhwaj At large 

3. Uploaded to the website for review were the following documents:

Treasure’s Report from 2019

2020 Budget Proposal

Board Goals

Water Board Update

4. Feedback Submitted through the website during the 2020 Annual Meeting

Regarding Feedback  Sent by 

Water Board The Loudons would like to go with option 3:  

 3-Take the majority of the funds now and use them to pay down open ULID accounts on a pro-rata basis leaving some money (say $20,000) in the account for tax/insurance/legal and other final costs and keep the Water Association active while continuing to wait for Sammamish to reach resolution in the hope that we can sell the rights. If the rights are sold, the proceeds would also be sent to King County for distribution to open ULID accounts on a pro-rata basis.  Rich and Sara Loudon 

Water Board I strongly support Option #1 and would like to see it executed as soon as possible. Ann Thornton 

Water Board Theresa and I concur with Option 1 for closing out the water rights issue and allowing the water board to close down. The team has done a great job of pursuing the opportunities to sell the water rights over the years and we appreciate all of their efforts. Tony Delles 

The meeting closed at 11:59 on March 31st, 2020. Documents could still be viewed on the website, but all voting ended at that time.

Next: Treasurer’s Report