HOA Reserve Study – Level 3

Good Afternoon. Fall is here and as you can see we still, and by “we”, I mean all of us are fortunate to have our Board of Directors, all under the leadership of Karen, our President, taking care of business. We are governed by our Home Owners By-Laws and the Covenants of rules and restrictions. When we agreed to buy into the Lake of the Woods Community, we agreed to follow the declarations to sign, when we said Yes! I want to live here.

Old news. I know you know this. Did you know we are running a business? By “business” I mean the “business” of making sure we conform and have what we are paying for, that are the resources like WATER, PARKS, etc. It all costs money to keep these numerous resources going in useable condition and available 24-7.

Above is the study of reserves (money) we must maintain, according to our By-Laws. I urge you to read through this document as soon as you can, but for sure before the Annual Home Owners meeting, sometime in November.

I put the document on the web site so you can download it to your device to read later. I hope after reading even the first page you can appreciate what your BOD is doing for you and how lucky we are as a Home Owners Association to have the quality and integrity we have in our Board members. Hats off to them.

June 8th, 2026 LOTW BOARD Meeting Minutes

LAKE OF THE WOODS COMMUNITY CLUB
Board of Directors Meeting Minutes
June 8, 2026

Location: Key Peninsula Civic Center Whitmore Room

Meeting was called to order at 6:37pm

Board Executives Listing – President: Karen Gore, 1st VP Water: Dave Tyler, 2nd VP Maintenance: Keith Burke, Secretary: Anna Hernandez-French, Treasurer: Barbara Dommert-Breckler

Board Members present – Karen Gore, Keith Burke, Barbara Dommert-Breckler, Jason Steinbrecher, Frank Benson, Garett Lebby

Board Members absent – Amie Schippa, Anna Hernandez-French, Bill Poulos, Dave Tyler, Liz Hickman  

Community Members – Milissa Hodson, Tiphany Lopez

May minutes accepted with changes– MMSP

Reports:

President – No Report

1stVice PresidentWater System – No Report

2ndVice President – Maintenance 
Bridge at Pete Rix Park has been rebuilt

Landscaper has not provided a W-9 yet so HOA Community Solution can not pay them, nor has the company submitted a invoice for payment. They are doing a good job so hope to have this resolved soon.

Secretary – No report

Treasurer
Send any and all budget items and their amounts for Fiscal Year 2027 by June 30th, 2026.

Committee Reports:

Compliance – Lot 251 issue has been resolved.  A warning letter was sent to lot 74/75.

EventsNo Report

New Business:

  • Reserve Study update shows that we are now at 89.3% of funding levels due to increase cost of replacement of capital equipment such as water systems, structures, etc. Three options to achieve 100% reserve funding where suggested in the report.  Option one –  $18.69 per month per lot for 2027.  Option two – $21.20 per month per lot for 2027, and Option three – $20.04 per month per lot for 2027.  A motion was made by Keith and seconded by Garret to accept option one.  MMSP

Meeting adjourned at 7:19pm

Minutes submitted by Secretary Pro Tem – Karen Gore