February 2007 In this Issue: • Walking Tour 2007 • President’s Letter • Treasurer’s Report • Quarterly Meeting dates for 2007 • Neighborhood Happenings • Telephone Numbers About Us: The
Sherman Hill Association, which was founded in 1977, is dedicated to the
restoration and improvement of this historic neighborhood, the enhancement
of its social environment, and the encouragement of civic pride. We
are a 501(c)(3) non-profit organization. Newsletters: Newsletters
are published and distributed quarterly. Submissions
of articles for inclusion in upcoming newsletters are welcome. If you would like to write about a
neighborhood happening, event, development or other please submit your article to Tom Chase at chase_holland@yahoo.com
You read that right! We’re now beginning to plan for
this year’s Sherman Hill Walking Tour on September 22 & 23 and September
29 & 30. We’re going to use
the same format as last year’s which seemed to appeal to both homeowner’s
and those who went on the tour. We do have a few homeowner’s who have committed to
being on this year’s tour. Please begin to consider being on this year’s
tour. As with last year’s tour,
you may choose to be on for either the first weekend or the second
weekend. We’d also like to recruit
some apartment dwellers and building owners to participate in the
tour. One of the comments from
those who went on last year’s tour is that they would have liked to have
seen some apartments on the tour.
Apartments have been included in years past so it would be nice to
revive that for 2007. The walking tour is our primary fundraising method
which we rely upon to fund the association’s operations for the following
year. If you’re interested in including your home on this year’s tour,
please contact one of the tour committee members. Thank you for considering being part of
the tour! Tour Committee: Jack Porter, Committee
Chairperson ▪
815 18th Street ▪ 243-7064 Jo Campney ▪ 741 16th Street ▪ 243-2168 Tom Chase ▪ 731 16th Street ▪ 222-1948 Donna Hallstrom ▪ 731 20th Street ▪ 697-0017 Rob McCammon ▪ 677 20th Street ▪ 491-5715 Sue Terry ▪ 741 16th Street ▪ 243-2168
Walking Tour 2007
As of 1/28/2007, we have $19,434.92 in our checking
account which is forecast to meet the operating needs of the Association,
barring any expenses not already anticipated, until about April 2007. This forecast does not factor in
potential dues from members for 2007.
(See also the President’s Letter on the previous
page) Hillside Many of you are probably wondering about how the
Association’s finances are affected by the Hillside Condominiums (1902
Woodland Ave) in which the Association owns the penthouse unit, #300. The unit has been for sale but an offer
acceptable to the contract purchaser, Chaden Halfhill, has not yet been
received. Upon the eventual sale of
the unit the Association will receive $150,000 of the proceeds per the
terms of the contract the Association signed with Chad. The Association has the
following liabilities with this unit: Loan
Balance – Iowa State Bank $46,000 Loan
Balance – Federal Home Loan Bank $18,375 Loan
Balance – Diane Young1 $ 3,647 $68,022 In addition to the above,
the Des Moines Symphony was disappointed with the results of the Symphony
Show House fundraising tour in which the Hillside building was featured and
has asked the Association to remedy this perceived shortfall. This matter is currently being discussed
by the Board and there is no estimated timeframe for resolution. Until the unit is sold,
the Association is responsible for the following expenses: Homeowner’s
Association Dues $ 300 / month Insurance $ 84 / month Loan
Payment – Federal Home Loan Bank $ 510 / month2 Loan
Payment – Iowa State Bank $ 371 / month $1,266
/ month Finally, there are outstanding property taxes for
taxable year 2005 / 2006 due in the amount of $9,490. Tax abatement was not filed by the
initial due date; therefore the full taxable value of the unit was the
amount on which the taxes were calculated.
Tax abatement has now been filed and the Board is doing everything
possible to see how the outstanding balance might be abated or
forgiven. If this is not possible,
the taxes will be paid so that we are not subject to further late fees. This will amount to $9,490 being due on
or before 3/30/2007, plus any late fees associated with the past due
9/30/2006 payment. Notes: 1 Diane is a designer to whom the Association owes
an outstanding balance. She has agreed to accept this balance upon the sale
of the Hillside penthouse unit. 2 Payments are actually $6,125 annually. The next payment of $6,125 is due April
2007.
Treasurer’s Report
Supporters
– Thank You! January – December 2007 Sponsors Contributed
$250 Friends Contributed
$100 Hugh & Lyn Loheed Members Contributed
$25 - $35 2 Votes
unless noted otherwise Cynthia Kammeier Josh Kiralfy Heather Pfister Kate Ramundt Sarah Spellman Mark Wilke Associates Contributed
$15 Sherman
Hill Association 1620 Pleasant St, Suite 254 Des Moines IA 50314
