From the Boardroom

Terry White, Board President

For the majority of our first forty years Lakewood continued to grow with more lot and home sales. Developers wanted to sell homes, so they added to our amenities with an East Lake pool and playground and the Lakewood Oaks pool. To make areas look more appealing to buyers, developers began to add their own entrances to the newer areas, fountains, walls, more landscaping, all leading to more upkeep for both LPOA and for individual parcels, such as the Shores, Lakewood Oaks, and The Forest.

With this new growth came new families and more use of our amenities. More use means more wear, and at some point, the band aid fixes cannot last forever. In 2011, we began the Main Pool Project in which the Main pool was rebuilt, and the filtration system was replaced with much higher quality commercial equipment. A spray park and slide were added at the site as well as a new playground and all of this was finished by Memorial Day 2012. Also in 2012, we refurbished our main entrance fountain and replaced the pumps and piping. I hope you agree with me when I say I am always proud to have guests come through the main entrance, particularly when the lights are on. That same year we added a new 3 court Tennis facility across from the main pool, including improved sports lighting.

2012 also presented its own set of lake, dam, and marina problems with a significant drought. The lake was down 12 to 16 feet in places. Our marinas were sitting on the lake floor in some areas. The drought also allowed us to do some main lake de-siltation while the water level was down.

In 2013 we began a program to replace and repair marina docks and electrical systems and the phase 1 grouting and installation of weirs to monitor the seepage through the West Lake Spillway. We also started the program for gated ramps for our zebra mussel protection program. We completed the grouting program in 2015 which reduced the flow of seepage through the West Lake Spillway by over 4,000 gallons per minute!

LPOA/LHC BOARD MEETINGS

Lakewood Property Owners Association Board of Directors’ Meeting

Approved

• Direct staff to draft Policy 5 amendment and bring back to the Board in April

• Termination of Covid Policy

• Termination of Old Fitness Center Key Deposit fund after a 60 final notice

• Amend Policy 21 to match Election Timeline

• Approve Pool Management Contract for 2023

• Approve User Fee reduction for Pool Guest Passes from $6.00 to $3.00 per punch.

• Engage with City of Lee’s Summit to inquire about traffic light on Lake Drive

• Direct legal to amend the By-laws to match the Declarations in regards to the Maximum Annual Assessment Formula.

Tabled

• Landings Covenant Amendment

Actions taken March 9, 2023 April

• Clubhouse Repair/Insurance Progress Report

The improvements over the past 10 years have continued. The East Lake marina was expanded and updated. The new Cove pool pavilion was constructed. A new and much improved East Lake pool and pavilion were installed and now that area has a new playground. We are working in phases to replace each pleasure dock with a new and safer version.

Most importantly, your management staff and boards have had professional Reserve Studies done for all our amenities and have set up and funded Reserves for the same. This should ensure our beautiful and unique neighborhood for years to come without the need to borrow money in the future. Here is to 50 years! Mark your calendars for August 5, 2023 Happy Birthday party at the Cove pool and pavilion and August 26, 2023 Adult Open House reception at the Lakewood Oaks Clubhouse. Let’s celebrate our history and look forward to the next 50 years!

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Scott M Wall, CFP® Financial Advisor

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* Annual Percentage Yield (APY) effective 03/07/2023. CDs offered by Edward Jones are bank-issued and FDIC-insured up to $250,000 (principal and interest accrued but not yet paid) per depositor, per insured depository institution, for each account ownership category. Please visit www.fdic.gov or contact your financial advisor for additional information. Subject to availability and price change. CD values are subject to interest rate risk such that when interest rates rise, the prices of CDs can decrease. If CDs are sold prior to maturity, the investor can lose principal value. FDIC insurance does not cover losses in market value. Early withdrawal may not be permitted. Yields quoted are net of all commissions. CDs require the distribution of interest and do not allow interest to compound. CDs offered through Edward Jones are issued by banks and thrifts nationwide. All CDs sold by Edward Jones are registered with the Depository Trust Corp. (DTC).