Wibit Inflatable Obstacle Course approved for North Creek Pool

The North Creek Pool and Bathhouse Renovation project is the largest of the pool renovations to date. Given project hold-ups due to the COVID-19 pandemic, an exact opening date is unavailable at the moment, but to keep the project moving and in anticipation of a grand opening, the Montgomery Village Foundation (MVF) Board of Directors approved purchase of another key component for this soon-to-be flagship pool during its April 22 meeting.

The renovation will include several new features at the pool, including beach entry, 25 and 50-meter lap lanes, a diving well and a 140-foot ride length water slide. Additionally, a customizable, inflatable obstacle course will be available on select days/times once the pool is back online. The MVF Board approved $23,820 from the DU Reserves for the purchase of the inflatable course and volleyball court.

Other Agenda Items
In other pool-related items, the Board approved the 2021 Pool Schedule Phase 1, changes to the Pool Operating Policy and gave the EVP the authority to manage COVID-19 pool restrictions based on changing guidelines.

The pool schedule was broken into phases in order to accommodate changing COVID-19 restrictions throughout the summer. Phase 1 covers the pool opening (Saturday, May 22 at Stedwick Pool) through Saturday, July 31. Updates to the Pool Operating Policy included housekeeping items; new food and beverage regulations; and changes to accommodate the new features coming online with the North Creek Pool renovation. The Pool Schedule and Pool Operating Policy can be found online at www.montgomeryvillage.com.

Given the changing guidelines for all aspects of outdoor functions, events, programming and pool operations, the Recreation Committee proposed that MVF staff be able to respond quickly and make adjustments as necessary to accommodate the fluidity of the pandemic, as was done in 2020. The MVF Board agreed, and gave the EVP the authority to manage implementation of COVID-19 restrictions for the 2021 pool season.

As is customary in April, the Board approved committee chair recommendations and reaffirmed committee membership for MVF committees. The full list of committees, chairs, members and Board and staff liaisons can be found online at www.montgomeryvillage.com/mvf/committees. In other committee-related business, the Bord also appointed Doniele Ayres to the Investment Committee as the third member from the MVF Board; this was necessary due to one Board member resigning his position.

The resignation from the Board also signaled the need for the MVF Board to declare a vacancy and start the procedure to fill the empty seat. Full details on the vacancy and how to apply for the MVF Board can be found here.

Finally, the Board re-affirmed an earlier e-mail vote on the recommendation of an electricity contract. Earlier in the month, the Board authorized a 24-month agreement with Constellation, locking in a 100% renewable energy supplier agreement at a more economical rate than the previous provider offered. MVF’s previous contract only utilized 30% renewable energy; the change will yield a cost savings of nearly $13,000 each year.

President’s Remarks
MVF Board President Pete Webb thanked two outgoing volunteers for their service and issued them each a Community Service Award. MVF Board member Ricardo Camacho has spent the last year on the Board—his second partial term—and Jeffrey McCloskey has spent the last 7 years on the Investment and Nominating committees, helping to shape the makeup of Board and it investments.

EVP Report
Executive Vice President (EVP) Dave Humpton noted the annual MVF Board Retreat is scheduled for 7 p.m. on Thursday, June 3, via Zoom; Board members were asked to send discussion topics for exploration during the retreat.

Humpton gave an update on development projects in the Village, noting the progress on the Bloom site; he said paving has begun at the Rothbury Drive/Arrowhead Road entrance and he would expect mid-summer for some homes to be built on the site. At the Village Center, it was reported that a Site Plan review for the Watkins Mill side/residential portion of the project was coming in July, with permits to take about one year after that. Based on that timeframe, construction would begin in mid-2022 and last through 2023. No update was available on when the Starbucks and Centerway Road extension would be finished.

Humpton also thanked Senator King for her Legislative Update. He said there was a full listing of bills MVF was watching in his report, but he gave an update on the Reserve Study Bill. He said the bill did not pass at the state level, but it did on the county level, requiring Reserve Studies for all condominiums, HOAs and co-ops in Montgomery County; MVF already meets the requirements set forth in the bill.

Treasurer’s Report
Treasurer Bob Carey presented the financials for the year-to-date and the month ending March 31, 2021. He said overall results through the end of March remained ahead of budget, continuing MVF’s strong financial position. The Balance Sheet reported $11.3 million in Cash and Investments, (up from $400,000 at the end of the 2020). He noted that $1.3 million of MVF’s capital is currently invested in the North Creek Pool renovation. Carey also said the Current Ratio (assets over liabilities) is 3.8, which although it has dropped (mainly because of the pool expenses), is still an excellent figure.

Revenue for the month was reported at $774,000 (favorable to the budget by $75,000) mainly due to Capital Contribution Fees and Investments; Expenses were favorable to the budget across the board due to good management practices. Year-to-date Revenue was reported at $2 million.

Carey said Accounts Receivable dropped from last year, excluding what is owed from the condominiums involved in the lawsuit.

Next Meeting
The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, May 27, as a conference call. Residents are invited to join the call; full meeting details, the meeting packet and/or participation instructions will be posted online at www.montgomeryvillage.com the week before the meeting.