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LAKE GASTON ASSOCIATION

Minutes (approved) Director’s Meeting – March 3, 2010

Lake Gaston Baptist Church Littleton, North Carolina - 9:30AM, First Wednesday

Mission: To identify lake issues affecting our membership and pursue resolution with the responsible organizations.

Location:         Lake Gaston Baptist Church

                        Littleton, North Carolina

Convened BY: President Doug Hughes

Pledge of Allegiance:  Led by President Hughes

Moment of Silence: Led by President Hughes

Visitors: There were 41 visitors and one press, Bill O’Neill Lake Gaston Gazette/Observer. Among the visitors was Warren County Commissioner Ulysses Ross, Lake Gaston Chamber of Commerce Executive Director Almira Papierniak and Gwen Moody & Clint Brame of South Hill Radio Station 101.9FM.

Three new memberships were completed at the meeting. Two business memberships: D&G Aquatics & Music Magic. There was one general membership; Mr. & Mrs. Ferrera.

Executive/Director Attending:  Doug Hughes, Linda Hedgepeth, Moira Underwood, Jack Saunders, John Cataldo, Ron Skow, David Duxbury, Laura Kolb, John Boyle, Ralph Domach, Clarence Drumgoole, Vernon Wilson, Barbara Burgdoerfer, Fred Kneisel, Bill La Monte.

Guest Speakers:  Sandra Shearin, Broker/Owner South Shore Realty:

• Reported that Lake Gaston is much better off than many other places when it comes to selling homes/property.

• Reported that selling prices right now are back at the price range found in 2004/2005.

• Stated that the 1990’s were the best years for selling lake property and that in 1997 there was a 31% increase in selling prices.

• Reported that in 1980 the most expensive lots were $25,000 and a home was $50,000. Now the most expensive home sold was $1.75 million. She reported 563 lake property sales in 2007, 308 in 2008 and only 272 in 2009.

• Stated that there are no ’spec homes’ or no ‘custom homes’ being built at this time and that the median price range of lake/lake area homes is in the $300-500 thousand price range.

• Reported that part of the problem with trying to sell a house/property today is that 1) comparable values are not valid, 2) lenders are far more stringent, 3) property is appraising lower than its previous values. She also reported that it used to take 30-45 days to complete a sales closing and now it takes a minimum of 60-90 days.

• She reported that there are currently 225 waterfront, 125 off shore and 100 lots for sale around the lake area.

• Reported that real estate tax credits have not helped the lake market and that sellers can expect a ‘slow change’ in the real estate market. A question was asked by homes/land being sold below asking price. She reported that homes are selling at about 9% and lots selling at about 14% BELOW asking price.

• She reported that many houses have been on the market for over a year with little or no buyer interest.

• Stated there are currently 8 ‘water front’ homes being foreclosed on. Ms. Shearin next went into some explanations on Reverse Mortgages (popular with the elderly), Home Equity Conversion Loans (to buy a new home using a Reverse Mortgage as funding source). She also briefly described a ‘Short Sale’ which is selling a home/land for less than what is owed on that property.

President Hughes thanked Ms. Shearin for her presentation and presented her with an LGA sun visor hat.

Secretary's Report: Bill La Monte presented the February 2010 Minutes for approval and the Board approved them.

Treasurer’s Report:  Jack Saunders presented the current budget for approval and the board approved it.

Committee Reports:

Marketing:  Bill LaMonte

• Reported over 60 business members in the LGA. He thanked his committee for their hard work. As noted above, 2 new businesses joined at today’s meeting. One had signed up as a general member but said he wanted to be a business member.

• Stated that of all the 2009 members only 2 chose not to renew citing economic reasons. A 95% success rate.

• Reported on various events the LGA will be participating in/sponsoring in the next couple of months.

• Advised the first event the LGA will have an information booth in is the Roanoke Rapids Home Show on 17 & 18 April.

• Advised that the LGA is working on a Lake Clean-Up Day which is tentatively scheduled for 5 June.

Planning & Development:  Jack Saunders

• Stated they are pursuing grants for watershed protection initiatives.

• Also looking at working with the various lake fronting counties to ensure proper lake protection set-backs to protect from storm water run-off.

Lake Environment/Aquatic Weed:  Vernon Wilson

• Talked about the meeting they had with Smith Mountain Lake folks and the things they do to protect their lake. SMLA spends $65,000 a year for water testing.

• SMLA seeks watershed protection cooperation from all agencies/residents around the lake.

• Advised there was an increase in ‘lyngbia’ growth around our lake between 2008 and 2009. The main reason is an increase in phosperous in the lake from lawn treatment chemicals.

• Plans on attending a N.C. Aquatic Weeds Commission meeting that will center on uranium mining in Virginia that could adversely affect Lake Gaston. Virginia Beach is contributing $437,000 to this study since they get their drinking water from Lake Gaston.

• Advised that we can continue to expect really dirty lake water partially because Kerr Lake is still over 10 feet above required stage and they will continue to drain large qualities of water into our lake for the next two weeks and that we can expect dirty lake water for possibly the next 4 or 5 weeks.

Safety:  John Cataldo

• Held a Home Owners Association meeting to brief on Neighborhood Watch programs and the need for sub-divisions to implement this type of operation. He advised the LGA is ready to hold training programs, all the sub-divisions have to do is ask.

• Discussed the ‘reverse 911’ phone system where residents can get calls about natural disasters/emergencies in their areas.

• Advised that the Virginia Legislature ‘tabled’ (killed) a law that would enforce the wearing of floatation protection for kids under 13 on any type of watercraft (life jackets are still required on a jet-ski/tow tube/ski’s, wakeboard, etc).

 Membership:  Moira Underwood for David Duxbury

• Reported a current membership total of 1,348 so far for 2010. This included household and businesses.

• Briefed on the call effort to all non-renewals in all 5 counties. Final results were not available, but this effort generally results in a 25% or more renewal from members who ‘forgot’ or maybe not gotten their renewal notice.

• Thanked everyone in his committee and the LGA for their efforts in securing new members.