June 25, 2025 Board Minutes

Bacon Hill Homeowners’ Association
Board of Directors Meeting
June 25, 2025
Administered on Zoom by Kathy Adams

Present: Roger Stackpoole, Chris Adams, Kathy Adams, Tyler Wainwright, Chris Sedlack, Michael Foor-Pessin, Ryan Kiggins, Dan Garcia, Brian Davis, Jim Richardson, Jim Colling, Pat Gannon
Terry Foor-Pessin, Secretary

Meeting called to order at 7:02 PM. Roger extends a welcome to new Board members, Ryan Kiggins and Dan Garcia. Roger reviews the agenda, noting the “to be continued” items at the bottom of the agenda which will be continued at every Board meeting. He stresses the importance of having a transparent and planned fiscal approach.

Chris Sedlack makes a motion not to have the minutes read, seconded by Jim Colling. All minutes, including the last Board meeting and the June 3rd Annual Shareholders’ Meeting minutes, are available on www.baconhill.org.

First order of business is to elect officers for the coming year. Pat Gannon leads the process, making a motion to open the polls, seconded by Kathy Adams. Kathy Adams nominates Roger Stackpoole for President. As there are no other nominations, The secretary cast one unanimous ballot for President.
Chris Adams self-nominates for Vice-President. As there are no other nominations, the secretary casts one unanimous ballot for Vice-President.
Roger Stackpoole nominates Terry Foor-Pessin for Secretary. As there are no other nominations, the President casts one unanimous ballot for Secretary.
Roger Stackpoole nominates Chris Sedlack for Treasurer. As there are no other nominations, the secretary casts one unanimous ballot for the Treasurer. Officers are Roger Stackpoole, Chris Adams, Terry Foor-Pessin and Chris Sedlack.
Pat Gannon makes the motion to close the polls, seconded by Kathy Adams.
Ryan Kiggins asked if there are term limits on how long a person can hold a position. There are no limits in the governance documents. The President and the Vice-President must be Board members; the Treasurer and Secretary do not have to be on the Board.

Waterfront projects update and mooring topics:

Brian Davis reports that the Port a John enclosure has been built and is being stained. The kayak racks are done. Jim Colling was able to get some astroturf on Craigslist for $600 and that has been laid. The mooring registration form was sent out to the 16 active mooring site holders. Brian has received three back currently. There are two mooring positions which need confirmation that they are not being used. They are not set up for jet skis. Brian also received a question regarding volunteer hours credit for lawn mowing done in 2023 and 2024. The secretary notes that she received this query, telling the lot owner that the policy is that any work to be done must be presented to the committee chairperson prior to doing it to get hours credit. The secretary then referred the lot owner to Brian.

Roger Stackpoole notes that the above waterfront work was done by several volunteers and saved the Association around $6000.

Brian states that lot owners need to claim their small craft that are left in the common area by July 30th. This has been posted on the website. The secretary will send emails to members with this message, and letters to those who have not shared an email address. The new racks have been repositioned to free up additional seating areas near the lake.

Roger Stackpoole introduces the topic of Capital/Asset planning for the Association.
Road repairs and maintenance are a priority. It is necessary to consider project needs, prioritization and financial planning. Per Tyler Wainwright, we got a quote from Borotek for $25,920 for the North Road repairs. We must consider wants, needs and future maintenance. Also, what are the sources of funding: dues, reserves? How do we build road reserves for emergencies, repairs and maintenance at the same time?

Can we do the North Road work in phases?

Brian Davis states that he has received more feedback from more lot owners who feel repairing the North Road is important.

Pat Gannon reviews the history of the North Road, that the original partners met with the Feskos to agree to our use of the North Road. It was a Town road in the past. It is not clear if it was ever abandoned. The Feskos eventually drove tractors across the road, and then a bad storm did considerable damage. Tyler notes that Bill Carroll in the early 2000’s, created worse problems with run-off with his equipment. We could do it in phases, e.g., over three years, or do it in one shot.

Chris Sedlack states there is a mandate to preserve the roads in the Association. There are 13 lots, ¼ of the lot owners, between the gates.
The standing quote, from last September, is for $25,920. The updated quote, to break the project into three segments, is $33,750, a 30% increase.
Key Bank would give a 4- or 5-year loan at 7.23%. If Bacon Hill Homeowners Association pays $4,920 up front, we could finance $21,000 over four years. Yearly payments would be $6061.44/year for 4 years, or $5017.32/year over five years ($418.11 monthly payments.) The new quote may be higher due to spreading it over three years and building a cushion for price increases. Chris spoke with Borotek last week, and there was no mention of an increase from last year’s quote.

Ryan Kiggins states that we need to be able to have fire department and ambulance access. He has had contact with 7 or 8 lot owners in favor of the road work. He states he has just called Borotek and they will honor the September 2024 quote.

Roger notes that we are not on the Board to represent our own interests, but the interests of all the lot owners. We must find the most prudent way, financially and operationally, to do this. Is a special assessment of the lot owners necessary?

Tyler expresses concern that there is no cover over the fill until the third year, in the phased plan.
Correction: Tyler notes that 3” of limestone crusher run is to be laid for road cover in year 2.

Ryan Kiggins questions the $12,000 spent on legal fees. Roger states that we are a not-for-profit organization with governing documents, and we have had to update these documents from how they were written in the 1980’s. He asks, “who is authorized to sign on behalf of the Association for a loan?”
Pat Gannon states that the President is the one who signs for the Association.
Roger states that in powers and duties of the Board, securing a loan is not what we are authorized to do. It needs to be collectively and legally authorized. The debate is not “should we fix the road,” but how do we serve all 52 lot owners.

Jim Colling states we should get it done in one year and monitor it over time.

Michael Foor-Pessin states the road needs to be fixed. We need to thoroughly consider every aspect of the decision, financial, legal, and our obligation to follow not-for-profit law.

Dan Garcia makes a motion that the North Road is a priority, and we need to find the most prudent way, legally and financially, to proceed. He recommends a deadline of 30 days to do due diligence. Jim Richardson adds, no further expenditures or approving new expenditures before this is decided, except for emergency road repairs. Seconded by Ryan Kiggins. Motion passes unanimously.

Dan Garcia agrees to see if the Town has extra millings they would share for this project.

Kathy Adams states we need attorney approval of taking a loan as legal, who (and how many people) need to sign. Should we get another quote? Are there any other financial options, e.g., a Special Assessment.

It is agreed to have a Board meeting in two weeks, July 9th at 7:00 PM on Zoom. Tyler is asked to provide the average yearly expenditure on the roads. We can continue to have an email discussion of financial options.

Mike Foor-Pessin makes the motion to adjourn. Dan Garcia seconds.

Respectfully submitted,

Terry Foor-Pessin, Secretary