President’s Letter

By Mike Moran | Email

It has been an exciting year in Fox Point especially with the most recent early snowstorm & recording setting power outage in the area. 

As we get ready for 2019, the board has been busy planning events, budgets, and a general game plan for the 2019 calendar year for Fox Point.  Our year begins with our annual January meeting which will be held on Monday January 21^st at the Village Church.  The two things that make this meeting special each year is the approval of our 2019 budgets for the coming year and the election of new officers to the board for that same period. 

This year we have three excellent candidates running and we need your help!!!  In order for this process to work, we need a certain number of homeowners to vote in the election each year otherwise it is not a valid election.  Each home in Fox Point gets one vote so we hope to see at least one member of each home voting in the election.  Please either try to come to the meeting to vote that evening between 6:00 PM – 7:00 PM or please send in your vote to the PO Box well in advance of the meeting.  We will be sending out a ballot via email (if you are signed up for the newsletter email blast) in early January.  This is also a great time to review our budget for the next year and ask questions of the board regarding the goals or expenses for 2019.

The board continues to be very fiscally conservative in our saving approach for long term spending while at the same time insuring that we maintain, rebuild, or repair each of our assets.

I wish everyone a safe and happy holiday.

Nomination Committee

Lynn Douglas

Years in Fox Point: 16

Professional/Volunteer Experience:

30 years senior management experience in financial/risk management 
Former Fox Point Board Member/Officer; 2010-2012/Treasurer, 2013/Corporate Secretary, 2016/CivicChair,2017-2018/Treasurer
Prior HOA Board experience in NJ
8 Year member Fox Point Finance Committee
2X Fox Point Architecture Committee Member

I have a deep appreciation for the hundreds of neighborhood volunteers who have donated tens of thousands of hours of their personal time over the past 50 years enabling Fox Point to continue the tradition of self-management.

I am interested in serving the Fox Point Community, once again because I see a continued opportunity to use my experience to contribute to the composition of the Board. I have a passion for Good Governance and Financial Planning with solid knowledge of the FPHA Governing Documents and State Laws concerning Common Interest Community Association Act. 

Margaret Graff

My Husband Bill and Son, Will (then age 5) and I moved into Fox Point in 2006 –eager to be a part of this vibrant, social, friendly community. Throughout my 12 years in the neighborhood i’ve volunteered in several roles and forms. Initially, I utilized my journalism degree by assuming Newsletter editor duties and wrote a Fox Point News column for the Barrington Courier.  When my son became Dolphin-age, I became a Swim Team Co-Chair and subsequently was the Parent Chair for Water Polo.  Throughout my years I also helped spearhead several social events including the Easter Egg Hunt , Fall Festival.  From 2013-2015, I served on the FPHA Board as Social Chair and helped spearhead the FP 50th Celebration and Progressive Dinner. 

In Barrington, I’m active in St. Anne Parish Church and previously served as the School Advisory Board Chair, Golf Classic Committee and 90th Anniversary School celebration committee.

Professionally, I work for REAL SIMPLE magazine as an Integrated Account Director, managing client advertising activity in a geographic territory. It would be an honor to again serve on the FPHA board!

David Jobes

David Jobes is the owner and chief executive of Motivation Excellence, Inc. a 33 year consulting company based in Schaumburg, Illinois. Prior to purchasing the company in January 2018 he held several management positions including president, chief operations officer and chief information officer.

David’s background is based in technology where he received his B.S. degree in Computer Information from DeVry University. David has experience in managing all facets of the business from sales and marketing, finance, human resources and product development.

David is a member of Vistage International, which is a chief executive advisory board, since 2008 and a member of the Private Directors Association of Chicago. He is an advisory board member for Hippino, LLC a startup mobile app company based in Detroit, Michigan since 2010 and sits on the Board of Directors as the Vice President for INGAGE Unlimited a non-for-profit organization based in Arlington Heights, Illinois which is focused on building bridges between resources and those in need in under-developed countries. He is also a former Board member for the Glenmoor Homeowners Association in Algonquin, Illinois where he held various positions for over 7 years. 

David has lived in Fox Point since 2011 with his wife Denise, and their two children in college, Lilly and Connor. When not working, David enjoys traveling, running, fishing, charitable work and following the Cubs.

Social

By Stephanie Paine | Email

The Santa visits for December sold out quickly! A big thanks to Jennifer Livingston for coordinating all the logistics involved with this undertaking!

As we head into 2019, please feel free to reach out to me directly to discuss ideas for new events.  We are always looking for volunteers to coordinate recurring and new events – the neighborhood would be very grateful for your time!

Progressive Dinner – January 12, 2019

Join your neighbors for a wonderful evening of mixing and mingling at the annual Fox Point Progressive Dinner! This event is a neighborhood favorite.

The night begins with appetizers at one Fox Point home, followed by dinner at various homes in smaller groups. The event concludes with dessert and an after party with the larger group at a single home. Everything from appetizers through dessert will be catered this year, so there’s no need to bring a dish! Drinks are also included in the ticket price.  

Please note if you are willing to host a group for dinner at your home (6-10 people).

Kindly RSVP by December 29 via this SignUpGenius Link: https://www.signupgenius.com/go/5080c48a8a92fa4fa7-foxpoint15

Thanks to Melissa Mickey, Melinda McElroy, Allison Meier, Nikki Dimucci for coordinating this event again this year!

Treasurer’s Report

By Lynn Douglas | Email

PROPOSED 2019 BUDGET 

The proposed Budget for 2019 (link to) outlines the Annual Assessment and associated spending to operate, maintain, repair, restore and replace assets.

Your Board of Directors expects to act on the Proposed 2019 Budget at the Board Meeting immediately preceding the Annual Meeting on Monday, January 21, 2019. 

Download Proposed 2019 Budget

The Purpose of the Annual Assessment

The Annual Assessment funds Operating Expenses and a Capital Reserve for major repairs, restoration and replacements of assets, when necessary to do so.  Operating Expenses include all recurring maintenance expenses assonated with common assets. The Capital Reserve funds major repairs, restorations and replacements, when necessary.

Every asset wears out sooner or later and will require major repair, restoration or replacement. All hard assets have a projected and predictable useful lifespan.  For instance, we know that most roofs require replacement every 20 years+/-, depending on the quality of the roof and wear and tear associated with the elements.  In other words, the value of roof depreciates at a rate of about 1/20 each year. To be in a position of replacing the roof in 20 years, it is necessary to set aside enough capital each year equal to 1/20 of the projected replacement cost, which includes inflation. Failure to do so could result in deferring replacement. 

When an association consistently accumulates adequate Reserve Capital, it increases the likelihood there will be funding available for major repairs, restorations and replacements, when there is a rational business case to do so. As it relates to Fox Point, some of these projected expenses are several decades into the future.

Proposed 2019 Annual Assessment- $1025/year

Fox Point is comprised of 411 owners with a broad spectrum of income, wealth, household size and age. Our governing documents impose a uniform assessment on all owners no matter their location, size of lot/home/ household and use or lack thereof, of common assets.

An increase of $30 in the Annual Assessment will bring Annual Dues to $1025 and is consistent with actual and projected rate of inflation. Invoices will be issued in late February and the Annual Assessment will be due March 31, 2019.

Restoration of Optional Pay-for-Use Boat Storage Fee-$50/year

For decades, those owners who stored their boats at the Boat Dock were charged a fee to do so. It helped to make sure that those who chose to use the facility for storage, used their boat.  This fee was discontinued more than 15 years ago. The Boat Racks have become the final resting place for many boats that had not been in the water for years. In some cases, owners moved out of Fox Point, leaving their decaying boat behind, while newer owners were put on a wait list for space.

The volunteer Lake Committee will be implementing a new and appropriate management of rack space going forward. The invoice for the 2019 Annual Assessment will include an opt in $50 annual fee for boat storage, applicable to only those owners who want boat storage space.   

Proposed 2019 Operating Budget

Fox Point is a self-managed association and outsources critical functions, Accounting, Pool Management, Lake/Creek Management and Landscape Maintenance.  The costs of these recurring functions and Insurance represent the largest expenditures within the Operating Budget. These functions are put out for competitive bid every three years. The contracts for Accounting, Pool Management, Landscape Maintenance expire year end 2018. As such, these contracts are subject to appropriate due diligence and a competitive bidding process to make certain Fox Point continues to obtain the best bang for dollar spent.

Changes to contractual sums have been moderate and have enabled us to hold the line on operating expenses.

Proposed 2019 Capital Spending

About half of our Annual Assessment is contributed to the Capital Reserves each year to build capital necessary to take care of major repairs, restorations and replacements of assets.

Budgeted Capital Spending represents a potential intention to spend, not specific authority to do so. Actual spending authority is determined by the Board during the year, subject to the business case, due diligence and a competitive bidding process. When the spend is significant, there will be one or more Town Hall Meetings to share the business case, options and costs. Potential capital expenditures for 2019 follow:

• New Boat Racks- $50,000
  Replacing the decayed Boat Racks at the Boat Dock has been budgeted and postponed for many years due to other spending priorities and is long overdue. The intended boat racks will be aluminum and modular. At the same time, modifications will be made to the bat landing area. 
• Cul- de-sac Island Landscape Restoration- $25,000
  This scheduled initiative is part of the ongoing, multi-year initiative to restore landscapes in the common areas.
• Restoration of Decorative Fencing-$30,000
  The support system for the decorative fences on top of the masonry walls at both the North and South Valley entrances has substantially deteriorated and the fencing needs powder coating.  This potential intent to spend will be subject to a cost/benefit analysis and competitive bid process to determine whether it makes sense to pursue in 2019 or some future point in time.
• Tuck Pointing of all Masonry Walls, Monuments and Pool House Structure-$40,000
  The masonry walls at the North and South Valley Road entrances and the monument at the Cold Spring Road entrance are exposed to the elements on all sides. Therefore, the bricks are prone to spalling and mortar deteriorates at a substantially faster pace than brick and mortar on homes with heated interiors. There is no evidence that the masonry on the Pool House has ever been tuckpointed at any point over the past 50 years and it too needs attention.
• Pool House Roof/Gutters/Downspouts- $25,000
  The Pool House roof, gutters and downspouts are beyond the projected useful lifespan. Leakage and seepage are apparent and require attention.
• Below Grade Waste Lines/ Concrete Subfloors in Pool House Lavatories- Pool House Renovation- Phase 1 – $100,000
  A sub-set of the Board has been evaluating potential interior and exterior Pool House renovation options for nearly 2 years. Options have ranged from an interior cosmetic face lift to a tear down/new structure and everything in between. Both outlying options have been ruled out.

Unlike our homes, the Pool Hose is built on a slab. All waste lines are below grade. A professional scoping of the below -grade iron/steel drain-waste-vent system in the women’s lavatory determined the following:

• Blockage
• Growth
• Pitch
• Corrosion

While blockage and growth can be eliminated with professional snaking, the pitch and corrosion of pipes are evidence of age. The below grade waste pipes are at the end stage of their projected useful lifespan in the 50-year-old Pool House.

To replace the waste pipes, it is necessary to gut the lavatories, demo the tile flooring and concrete sub floor. Once replaced, a new sub floor and above grade flooring must be installed, and plumbing fixtures attached. This will be subject to a vigorous and competitive bid process and is intended as a potential 4th quarter, 2019 event subject to “Now what?”

New waste lines and sub-flooring creates potential opportunities to reimagine how to make the best use of the existing lavatory space.

Does it make financial sense to replace “in kind”, meaning the layout and traffic flow remains as is, today?

Does it make financial sense to invest in a once every 50- year reconfiguration of the existing space to accommodate a family lavatory?

Does it make financial sense to invest in a once every 50 -year reconfiguration of the existing floor space to include a central entrance hall leading directly to the pool, replacing the existing entries via the respective lavatories?

A Town Hall Meeting with all owners will be scheduled in 2019 to address these questions, options and direction.

2020 and Beyond

State Law requires all condo and HOAs to provide a multi-year forecast of potential future capital spending and Special Assessment to prospective buyers who request such information. As such, you will find the forecast at the very end of the proposed budget.

Most ambitious of these potential future projects is an intent to dredge the Fox Point retention pond in Cook County that flows via Flint Creek, into the Lake Louise. The retention pond manages the flow of water into and out of the creek and reduces sediment flow. It is essentially a massive filter for Lake Louise..

As envisioned, this initiative could serve as a prototype for a bigger project in the Lake Louise, subject to numerous regulatory authorities and potential grants.

We are not contemplating borrowing funds/ imposing a Special Assessment over the next 5 years.

Our hard assets are insured against risk exposures at replacement value.