by Mike Conroy
At the October 22 Montgomery Village Foundation (MVF) Board of Directors meeting, the Board approved a new parking policy—Vehicular Parking Rules and Regulations for MVF-Owned Parking Lots— which replaced the previous towing policy.
The new policy specifies that facility users are permitted to park in MVF-owned lots while they are using the park amenities, and outlines the rules of use while utilizing an MVF-owned lot. It emphasizes that overnight parking at MVF-owned lots is not permitted, except at Apple Ridge Ballfield only (8 p.m. to 8 a.m.), per a Montgomery County memorandum dating back to December 1991. Further, the policy defines the types of vehicles that are restricted from parking overnight in any lot, even where overnight parking is permitted.
It also outlines the towing enforcement/procedure, which follows the Montgomery County Code (Chapter 30C -- Motor Vehicle Towing and Immobilization on Private Property). The policy includes MVF’s tow and sticker process, what will be included on signage and the actions for violations.
The new policy will go into effect after proper notification has been given to residents, stickers and procedures have been updated and signage has been installed, per Montgomery County code. In the meantime, gate closure at MVF parks will resume in mid-November. The full policy can be found online at www.montgomeryvillage.com.
Other Agenda Items
The 2021 MVF Budget was approved with two changes that did not affect the proposed 2021 assessment rates. The Contribution to Reserves was raised back to 100% (from the proposed 95%), and employee benefit flex dollars were increased from $435 to $455 per pay (originally proposed with no increase). 2021 assessment rates for both the MVF and DU funds were kept flat; the rates will remain at $21.52 per unit per month for the MVF assessment and $38.42 per unit per month for the DU assessment. For more information, see the article here. The full adopted budget can be found online at www.montgomeryvillage.com.
To support the payment of assessments, the EVP was authorized to purchase assessment coupons to be mailed to all homeowners. Bank-A-Count Corp. was selected as the preferred bidder for $16,135.82 plus an additional 10% for changes in direct debit enrollment costs or other unforeseen costs. Additionally, the Board re-affirmed an e-mail vote from October 13 concerning change in the MVF Collection Policy. The changes included language for cashless assessment payments at the MVF Office and the addition of Paysafe:Cash as a way for residents to make cash payments through local authorized retail establishments. As of January 1, 2021, cash assessment payments will no longer be taken at the MVF Office.
Finally, the Board authorized the Executive Vice President (EVP) to execute a contract with Ecotone for $13,015 to perform storm drain repairs at North Creek Lake Park. This work was identified by Montgomery County Department of Environmental Protection during a recent inspection.
MVF Board President Pete Webb thanked Kevin Rogers for his presentation on the Lakeforest Mall project before the meeting (see the full article on page 1). He noted his excitement about the project, and encouraged residents to visits the City of Gaithersburg website for more information. Webb also noted that Aldi had opened in the Village Center earlier that day, and this anticipated progress had finally come to fruition.
VP Dave Humpton noted a virtual New Residents Welcome Reception is being planned for Thursday, Nov. 19 at 7 p.m. Information would be forthcoming, and new residents should look for a postcard and/or e-mail.
In development news, he said a virtual meeting was scheduled October 26 to discuss the site plan for the residential development portion of the Village Center renovation project, which includes 49 townhomes and 34 2-over-2 condominium units on the Watkins Mill side of the center. He also said the Bloom site plan amendment was passed and gave approval for the next 100+ units on the former golf course property.
Humpton said that construction on the North Creek Pool and Bathhouse will begin soon and that MVF’s pool contractor had received one permit so far, but was awaiting several others before the project could commence. However, demolition could begin prior to receipt of all the permits.
CFO Daniel Salazar presented the Treasurer’s Report for the month ended September 30, 2020. He said overall results ended favorable to the budget. Net income was reported favorable to the budget by $1.4 million. Total Revenue was reported at $7,102,000, and the main drivers of that are the CARES Act Employee Retention Credit ($536,000) and Investment Income. Salazar said Revenue is offset by COVID-related closures, which affected camps, classes, pool memberships and center rentals, among other areas.
He noted Operating Expenses were below budget by $1 million, mainly due to lower than expected personnel, business expenses, utilities and landscape and maintenance costs. He said the Balance Sheet indicates MVF’s continued strong financial position with $10.4 million in Cash and Investments. However, Accounts Receivable increased 35% mainly due to the condominium lawsuit. The Investment Portfolio has gained 4.4% year-to-date and 7.14% in the last 12 months. He said since its inception, the total net investment changes were $1.4 million.
Salazar also reported the Delinquency Rate at the end of September was 7.6% (a 5% decline over October) and is on track with the same period last year. He noted this is very good considering the COVID climate.
Due to the Thanksgiving Holiday, there is no Board meeting in November. The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, Dec. 10, as a conference call. Full meeting details, the meeting packet and/or participation instructions will be posted online at www.montgomeryvillage.com the week before the meeting.