Woodbury Park Homeowner's Association PO Box 530872 Livonia, MI 48153-0872

On December l, 1998, the Woodbury Park Homeowners met with representatives of the builders to transfer control of the Association to the homeowners of the subdivision. As a result of this transfer, an election was held to select1he inaugural Board of Directors for the Association. It is our qreat pleasure to introduce ourselves as your new Board:

Larry K. President	Jim G. Vice President	Russ F. Treasurer
Joyce G. Secretary	Nick T. Member at Large

Since the election, the Board has been busy setting up banking accounts, transferring public utilities, establishing a PO Box for correspondence, reviewing costs of liability insurance for the subdivision as well as obtaining a contract for snow removal this winter season. Thus far, we were able to realize a 23% savings in the cost of insurance (with improved coverage) and an approximated 39% savings for snow removal. It is our hope to serve the interests of all Woodbury Park homeowners through the continued maintenance of the standards set forth in the deed restrictions for the subdivision, the provision of well-maintained common areas such as roads, cul-du-sacs and entrances, and the effective management of the costs of these services.

We are happy to answer any questions that you may have. Please feel free to call any member with your question. If you have a more serious issue that you would like to bring to the attention of the board, we would ask that you please submit your request in writing to the PO box above.

On the subject of association dues, attached, please find a copy of the preliminary budget for 1999. This budget is based on the recorded cash disbursements by the builders for 1998 provided to the board at the transfer of control. Due to a lack of first-hand experience in the cost of maintenance services, annual landscaping and utilities, Association dues for 1999 are tentatively planned to remain at $250 per household. During the 2nd quarter, we will conduct an Association meeting to reevaluate the overall cost of maintaining the subdivision and assess revenue requirements to potentially adjust the association dues. The early indications are that we will be able to improve the cost of many services while maintaining or increasing the quality of the services received. You will receive a separate mailing near the end of January requestinq payment of the 1999 association dues.

One final note, at our last board meeting we discussed the possibility of issuing a newsletter 2 or 3 times per year. If anyone is interested in volunteering to handle this task (we will provide some information to be included in the newsletter and cover the cost of duplicating), please contact any of the board members.

- Woodbury Park Association Board