Friends of Summer Meadows HOA

Home Owners Association Bullet Points

Points To Remember

PURPOSE:
To maintain or increase home values in the Summer Meadows subdivision through active involvement in our community, targeted maintenance and renovation projects, and promotion of "neighborhood friendly" values.

Proposed HOA Goals and Objectives

THE PROPOSED HOME OWNERS ASSOCIATION GOALS AND OBJECTIVES as derived from the Survey are:
1) Maintenance & beautification projects along 700’ Milton Wilson entry way
2) Organization of a Neighborhood Watch Program
3) Common Area Maintenance and Development

Why HOA Needed to Accomplish Goals and Objectives:
1) Create Shell to Allow Ability to Function Without Worry of Private Litigation
2) Create a RENEWABLE Income Flow
a) Annual Dues
b) Corporate Donations
c) Fund Raisers
3) Create an Organization That Will be Responsible to the Members and the State as to the Nature of Its Business and the Spending of Its Funds.
a) Non Profits Must File Copy of Minutes from Annual Meeting With State of Tennessee.
b) Local and Federal Annual Tax Statements Must Be Filed.
c) All Monies Collected and Spent will be Listed on Website.
Purpose of $100 Dues:
1) Provide Annually Renewable Income for HOA to Accomplish Goals
2) Provide for Payment of Legal Fees to Start HOA