Monument Realty postpones their presentation to MVF Board to early 2024

In the week prior to the Montgomery Village Foundation (MVF) Board of Directors December 7 meeting, Monument Realty informed the Board that they would need to postpone their presentation regarding a proposed change to Area 2 development in Bloom Village to early 2024. Because of this change, the request from Patton Ridge Homes Corporation to not support the proposed change to Area 2 action item that would have been discussed was also removed from the evening’s agenda. MVF Board President Scott Dyer noted that an announcement will be made online when Monument plans to make its presentation to the Board, along with meeting details. At present, the full MVF Board has not seen Monument’s proposal, despite a community meeting held in November.

In other actions at the in-person Board meeting at North Creek Community Center, the Board:

• Moved to affirm an earlier email vote authorizing the EVP to award the Lake Marion Community Center and Hurley Park LED lighting projects to Zerodraft Maryland at a cost of $17,993.10 and authorize an additional 10% for unforeseen circumstances.
• Approved the EVP’s nomination of Karen Kodjanian, MVF Community Management Director, as the MVF Board’s appointee to the new Airpark Community Advisory Committee and have her apply to the position per the County’s instruction.
• Affirmed an earlier email vote authorizing the EVP to negotiate and execute a contract with CareFirst BCBS for health care benefits for MVF employees for the 2024 plan year.
• Approved a change to the Fence and Gate Village-wide Criteria requiring residents to paint both the interior and exterior faces of their fences to help prevent the wood from rotting more quickly and needing to be replaced more frequently.

After more lengthy discussions, the Board determined to table the motions to consider and approve the Landscaping (plantings and related structures) and EV Charging Device Village-wide criteria until the MVF Architectural Review Board (ARB) and staff can address the additional considerations and suggested alterations submitted by various Board members and resubmit the criteria to the Board.

President’s Remarks

Dyer thanked residents for taking time during this busy time of year to voice their opinions and make sure the Board knows where they stand on important issues. He also thanked the MVF staff for all they do to provide revitalized amenities, programs, services, and new ideas for keeping Montgomery Village a great place to live. He added that as a Montgomery Village resident, he is thankful fellow residents have shown how much they care and show their support for our community over the last year through participating in MVF events and supporting local businesses. He is pleased that after many years, a vibrant town center is starting to come together, revitalized amenities are provided in the community, and generations of families choose to stay in the community. He thanked the MVF Board members and all committee and board volunteers for their dedication and time to support efforts to improve the amenities, programs, and services in the Village.

Dyer also presented a Community Service Award to Montgomery Village resident Obehi Eromosele, who served as the MVF Board of Directors 2023 Student Representative. He said the MVF Board recognizes the importance of the youth in the community and was grateful to Eromosele for her outstanding service, sharing her perspective and ideas, and her work during her summer internship working with the MVF staff. He also thanked the Eromosele family for encouraging her to participate as MVF Board Student Rep. Eromosele thanked the MVF Board and staff, noting her favorite part was the summer internship and learning how Montgomery Village functions.

MVF is currently seeking applications for the 2024 MVF Board Student Rep position, and full programs details can be found at www.montgomeryvillage.com. Those interested in learning more, should contact MVF Director of Communications Ruth Stadius at 240-243-2331 or email This email address is being protected from spambots. You need JavaScript enabled to view it.. Completed and signed applications must be received at the MVF Office by 5 p.m. on Wednesday, Feb. 7, 2024.

EVP Report

In his report, Executive Vice President (EVP) Mike Conroy noted several updated items. Regarding the Lake Marion Toe Drain Project, he said the county will repair the toe drain sometime at a date yet to be determined, once the permitting process has been finalized. He noted that based on previous work at Lake Whetstone, MVF is expecting the process to take several months. In the interim, the county will be removing sediment from the lake in the area closest to the community center while the water is low. During that work, equipment will be stored in the parking lot, and sections of the path will be closed and covered to prevent damage from the equipment. No permits will be required for this work, which is estimated to take 2 to 3 weeks, beginning in January.

Regarding the solar panel installation project, the state Board of Public Works met earlier in the week to review the project and approved it unanimously. MVF staff can now move forward on the project with the contractor, order the panels and begin prep work for installation of these panels in 2024. As a reminder, he said this $800,000 state grant-funded project will add solar panels to a number of MVF facilities and save thousands in energy costs each year. Conroy offered special thanks again to Senator Nancy King for her help in securing this bond.

He also noted that typically in December, the Board approves MVF insurance rates; however, the insurance broker was not able to finalize all the rate premiums in time for the meeting. As soon as MVF receives the final rates, Conroy will send the information out to the Board for an email vote, which will be reaffirmed in January.

Conroy ended by thanking all MVF volunteers, including the MVF Board of Directors, for working tirelessly all year to keep the communities, committees and local boards on point.

Treasurer’s Report

Conroy also presented the Treasurer’s Report on behalf of Steve Taylor, Treasurer and MVF CFO Daniel Salazar, for the year-to-date (YTD) and month ending October 31, 2023.

He reported that overall, all MVF funds were ahead of budget projections by approximately $2.12 million, driven by higher Miscellaneous Revenues ($1.14 million) related to the capitalization and revenue recognition of the David B. Humpton Park, which was conveyed to MVF as per the previously agreed Memorandum of Understanding signed by Monument Realty. Other increases in Revenues include: Grant Income ($285,000), Investment Income ($92,000 portfolio, up 2.0% YTD), Camps and Classes ($124,000), Pool Membership/Fees ($71,000), and Capital Contribution Fees ($120,000), which were all higher than budgeted. Personnel and Operating Costs came in favorable to the budget by about $154,000 and $139,000, respectively.

Conroy noted total Revenue was $9,786,177, and Operating Expenses were $7,271,422 through October; both were favorable to the budget.

He added that 296 units in Bloom Village and 14 Overlook Condominium units had been sold, making Capital Contribution Fees received through October at $331,000 versus $210,000 prescribed in the budget.

Conroy said the Balance Sheet continues to reflect MVF’s strong financial position with $11.4 million of its assets held in Cash and Investments. MVF continues to hold close to $3.19 million in Undesignated Reserves. Assessment Receivables has seen an overall decrease, and the Delinquency Rate for October was reported at 18.8% (1,595 units) which is 1.2% lower than the 9-year average for the month of October, but slightly higher than the same period last year.

Next Meeting

The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, January 25. The meeting is currently scheduled to be virtual, but may change to in-person. Residents are invited to attend. Full meeting details, including virtual or in-person instructions, as well as the meeting packet will be posted online at www.montgomeryvillage.com the week before the meeting.