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BOARD OF DIRECTORS
Fearrington Homeowners Association
MARCH 2005  MINUTES

DATE: March 1, 2005

PRESENT: Cynthia Jones, Tom Hauck, Edith Lange, Drew Bratton, Ron Boyington,
Bob Oram, Bob Flower

ABSENT: Maggie Frantz, Jim Pomroy, Bill Sommers

GUESTS: Over 200 residents; Kimberly Horton, Chatham County Tax Office; Ron McCarthy, appraiser and county consultant

President Tom Hauck called the meeting to order at 7:00 pm

Tom began the meeting by telling everyone that the FHA has received about 200 (out of 1000) FORM A's and FORM B's for Emergency Information. The information will be put into a secure FHA computer database so that when there is a problem, the FHA will be able to handle each resident's requirements. We have been lucky that the winter has been mild but that the hurricane season is coming. Please help us to help you by submitting your completed FORM A & B.

Real Estate Tax Reappraisals

Ms. Kimberly Horton from the Chatham County Tax Office and Mr. Ron McCarthy, appraiser and consultant to the county presented information to the attendees. The presentation is published on the FHA website: click here. Two important points: all informal homeowner appeals will be considered and the Chatham County Tax Administration is planning to reevaluate again all of Fearrington because there are so many concerns about the reassessment values; Do not hesitate to appeal if you believe your assessment is incorrect. Other points from Ms. Hortons presentation:

     Assessments done to re-equalize the tax base at market value which is the price at which property would change hands

    Real property must be assessed every 8 years by NC state law. The Chatham County commissioners in 1998 voted to reassess real property every 4 years in our county to avoid losing tax revenue, and to avoid major increases at each revaluation.

    Personal property (automobiles, boats, etc.) assessed every year

    Reassessment process: Every real estate transaction between 1/1/01 and 12/31/04 is reviewed and verified. The tax office recognizes 10 neighborhoods in Fearrington; sales analyzed by neighborhood. Begin working on reassessment 2 years prior to reevaluation date; project values to Jan 2005.

     Fearrington average taxable residential value $248M in 2004 based on 2001 reevaluation; proposed $312M for 2005, increase 25.81%.

    Taxable commercial value in Fearrington $12M in 2004 based on 2001 value; proposed 2005 commercial Fearrington value $46M; a 283% increase; a big part is Galloway Ridge.

    Fearrington tax base value relates to Chatham County as a whole: Taxable residential value is $4.4B 2004 based on 2001 value; proposed county residential value $5.6B 2005, or an increase of 29.06%.

    Hard copies of presentation available in FHA office 3/2/05. Also to be made available on the FHA website.

   Property record card and schedule of values are available online. [Here or here.]

    Uniformity and equalization of real property are the primary goal of reappraisal.

    The tax rate of $81.25 shown on the property record card is used on every house in Chatham County. Then 5 factors are applied to achieve uniformity throughout the county.

    Appeal process:
        1. informal;
        2. County Board of Equalization Review; and
        3. NC Property Tax Commission.

Details of each:

1. A resident must first file an informal appeal by completing and mailing the form attached to their evaluation notice or making an appointment to meet with the Tax Office representative. No appeal will be denied if it is received in the Tax Office by 5/1/05. 2. If not satisfied with results of #1., a resident may appeal to the Board of Equalization Review which will meet between the first Monday in April and the first Monday in May. If not satisfied with #1 or #2, a resident may appeal to the NC Property Tax Commission. Note: i.e., you must appeal at the county level to be able to appeal at the state level. Ms. Horton will place a legal notice in the Chatham County newspaper regarding the date the County Board of Equalization Review will hear appeals.

Ms. Horton and Mr. McCarthy answered all (every single) question posed to them by meeting attendees.

Approval of Minutes

The February Board minutes were approved as written.

FHA Computer Policy

Approved as written; entire policy is filed with the minutes of this meeting.

Treasurers Report

Bob Flower reported as of 1/31/05 income was $66,686 98% of which was from annual dues. Expenses for the same period were $11,604, exceeding the budget by $4,467 due to the transfer of $7,000 to the reserve fund. January was the first month of reporting performance to budget on the timed budget approach. The report was approved.

Committee Reports

Gathering Place. Edie Lange

80 reservations for March, an all time high! Again, a big thank you to Clairbeth Lehn for a job well done.

Quality of Life. Drew Bratton

Thank you to all who are working on these groups.

   Road Safety Committee. This group met (attending, but membership not limited to, Art DeLuca, Don and Margaret George, Jim Granger, Barry Reece, Joe Geoghegan and Jack Traywick, chairman) to develop a comprehensive road safety plan for the next two years. The FHA Board approved this plan(including a $100 cash and 1000 photocopies budget) via e-mail. This program will be communicated to the community. (Road Safety Committee Proposal filed with minutes)

    Service Committee Meeting. Attendees: Phil Smith, Charles Riddle, Jim Granger, Dave McGrain, Janice Hunt, Drew Bratton and Tom Hauck. A list of items was developed and will be handled by FHA Board members.

    Asset Committee. Members: Edie Lange, Ron Boyington, Bob Flower, John Custer, Henry Castner, Drew Bratton. Work is underway to identify all current assets of the FHA and housed in an FHA asset database.

    Long Range Planning. Members: Evy Barrow, Chair, Fran Sherwin, Bob DeVido, Dale Smith and Ed Farnan. Subjects reviewed: governance, long range planning services and capabilities.

    FHA Office: Pat Harkins, office manager, reports $482 revenue, 28,685 copies (18,600 for FHA newsletter). Special thanks to all volunteers who worked this month.

    FHA Board Succession. Ken Richardson and Drew are working on PR material to announce positions open for 2006. These positions are listed in the FHA newsletter and the FHA website. Take a look to see if you would like to contribute to the community.

Community Affairs. Cynthia Jones

The FHA Directors Handbook is being revised by Cynthia Jones, Evy Barrow and Raoul Leuteritz for the first time in several years and is moving forward. The community estate sale, approved last month, is coming along. FHA will be 25 years old in 2006 and a birthday bash will be discussed soon.

County Liaison. Bill Sommers

Tom Hauck reported that he would introduce Bill Sommers who will then chair the 3/17/05 Town Hall Meeting to be held at 7 pm in the Gathering Place. The Annexation Incorporation Committee (ANINC) will present their findings for discussion. Committee members are Bob DeVido, Jerry Gaudet, Bob Goetz, Tom Hauck, Marilyn Koplik, Bob Steen, (Chairman) Bill Sommers and John Wait.

Grounds & Facilities Report. Ron Boyington

The cleaning up of the Beaver Pond will be an ongoing problem until the FHA develops the costs of cleaning the Pond and the State has made a decision on how much money we will receive to go forward with the cleanup. Ron and Vince Collura are working on this. Ron also distributed to FHA Board members the Walk Fearrington Advisory Committee Proposal.

Community Safety. Art DeLuca

61 residents are a part of CERT, 7 of whom are in training. A community watch program is in progress. It is important for residents to complete green Forms A and B Emergency information and return them to the FHA office or the FHA mail box in the Swim and Croquet mail kiosk. This will insure that our community's database will be up-to-date in the event of an emergency.

New Business

Jerry Gaudet reported that many roads in Fearrington Village are deteriorating at a fast rate. He suggested notifying the DOT to examine the damage to the shoulders and rectify same before it becomes a larger problem. Ron Boyington will look into this situation and report back.

Don George stated that the speeding problem in Fearrington Village is still a very serious problem. He suggested that the FHA Board and the Road Safety Committee pressure the DOT for more 25 MPH signs and, in addition, state that we also need 4-way stop signs. Hopefully, we will move forward on this issue to avoid serious accidents and adhere to road rules and regulations in our community.

Adjournment

The meeting adjourned at 9:13 pm The next regular board meeting will be on Tuesday, April 5, 2005 at 7:00 pm in the Gathering Place. There will be a town hall meeting to hear the report from the Annexation and Incorporation Committee on Thursday, March 17, 2005 at 7:00 pm in the Gathering Place.

Respectfully submitted,
Edie Lange and Maggie Frantz