MVF Board acts on insurance, health care and Stedwick Pool and Bathhouse renovation items at December meeting

At the final meeting for 2025 held at North Creek Community Center, and following a reception to honor Montgomery Village volunteers, the Montgomery Village Foundation (MVF) Board of Directors reaffirmed two prior email votes: (1) Authorizing payment of $89,122.74 in permit fees for the Stedwick Pool and Bathhouse renovation, and (2) Authorizing EVP Mike Conroy to negotiate and execute a contract with CareFirst for MVF employee health care benefits for the 2026 plan year.

OTHER AGENDA ITEMS

The Board also considered the organization’s 2026 insurance contract. Conroy reported that total insurance premiums for 2026 will increase by 6.8%, bringing the total cost to $323,558 – an amount in line with the approved 2026 budget. After discussion regarding deductibles, claims history and future increases related to the Stedwick Pool and Bathhouse renovation, the Board voted unanimously to authorize Conroy to execute the 2026 insurance contract at the current deductible and coverage levels.

Director of Recreation and Parks Duncan Mullis provided a progress update on the major renovation of the 55-year-old Stedwick Pool and Bathhouse. He reported that MVF received all final permits in October for the building alteration and pool reconstruction. Construction began in early October with site preparation and installation of a silt fence. Demolition of the old pool has been completed, and the new pool structure is now taking shape, with formwork completed and piping work well underway. In the lower level of the facility, 90% of demolition has been completed, and the pool filter has been installed.

Although the project experienced initial delays due to permitting, the contractor has been able to recover some of that time. Substantial completion is now scheduled for mid-June 2026, which should allow the pool to open between late June and mid-July 2026.

Mullis also confirmed that the renovated pool will meet all current ADA and building code requirements, noting that the facility’s age required it to be brought fully up to modern standards.

PRESIDENT’S REMARKS

On behalf of the MVF Board of Directors and staff, Board President Doniele Ayres recognized the outstanding service of Student Representative Hillary Juarez Mendez, a Montgomery Village resident, with a Community Service Award. The award honors Juarez Mendez’s meaningful contributions to the Montgomery Village community during her tenure as Student Representative to the MVF Board from March through December 2025. In addition to her Board service, Juarez Mendez played an active role in supporting MVF operations and activities during her summer internship, gaining hands-on experience while contributing to the organization’s daily work.

In accepting the award, Juarez Mendez expressed her gratitude to the MVF Board and staff, thanking them for the knowledge and insight she gained throughout the year. She shared special appreciation for the staff who mentored her during her summer internship and helped broaden her understanding of community operations.

Ayres also took time to recognize the collective efforts that support Montgomery Village, thanking the Board members for their dedication, the MVF staff for their daily commitment, and the many volunteers who give their time and energy to the community. She emphasized that volunteers are the heart of Montgomery Village and an essential part of what makes the community thrive. The recognition served as a celebration of service, collaboration and the shared commitment to strengthening Montgomery Village.

EVP REPORT

EVP Mike Conroy reported that the County Council announced a new councilmember to fill the at-large seat vacated by Gabe Albornoz, who has returned to his previous position as director of the Montgomery County Department of Recreation. Shebra Evans, former Board of Education member was appointed to fill the remainder of Albornoz’s term.

Conroy added that he and MVF General Counsel Adam Polsky attended a press conference in late November regarding the Lakeforest Transit Center. Montgomery County Department of Transportation will purchase two acres along the Russell Avenue side of the property from WRS to build a new transit center, which will serve as main connection for 6 to 10 different bus routes as well as the start and end points for several others. The site will host 10 bus bays to allow for seamless transportation through the area as well as charging stations for electrical busses in the county. Conroy added that WRS is hopeful to break ground on this project in the next few weeks, and during that event hopes to also announce some of the tenants who will be coming to the Lakeforest property.

In closing, Conroy updated the Board about any financial consequences to MVF due to the federal government shutdown. He said 24 residents contacted MVF stating that they would need financial assistance to pay for their quarterly assessments. MVF worked with each resident to set up a payment plan or waive their late fees. Presently, 13 of the resident accounts are current with their assessments and the remaining balance (shared between MVF and the local association) is $4,775. MVF will continue to work with those remaining residents until their assessment balances return to zero.

TREASURER’S REPORT

MVF Treasurer Dr. Jayaraman Vijayakumar presented the Treasurer’s Report for the year-to-date (YTD) and month ending Oct. 31, 2025. He reported that overall, all MVF funds were ahead of budget projections by approximately $1.7 million, due to Revenues from Investments ($990,000), Grant Revenues ($240,000), Camps and Classes ($75,000), and Pool Membership/Rentals ($41,000), but were slightly offset by a shortfall in Disclosure Fees ($34,000).

Vijayakumar noted total Revenue was $10,333,205 and Operating Expenses were $8,239,504 through October; both were favorable to the budget.

He said Capital Contribution Fees were $336,666 versus $314,583 budgeted for 2025.

Vijayakumar said the Balance Sheet continues to reflect MVF’s strong financial position having $14.7 million of its $32.2 million assets (44.2%) held in Cash and Investments. MVF continues to hold $3.1 million in Undesignated Reserves. Assessment Receivables saw a decrease of .8% or $4.8 thousand over the previous year. The Delinquency Rate for October was reported at 19.7% (1,667 units), which is an increase of 11.6% from last month and is consistent with the historical pattern for October. The current rate is 0.1% below the 11-year average delinquency rate for October (19.8%). Last October’s delinquency rates was slightly lower at 19.4% (1,641 units).

NEXT MEETING

The next MVF Board of Directors meeting is scheduled for 7:30 p.m. on Thursday, Jan. 22 in the North Creek Board Room, 20125 Arrowhead Road. A “Meet the Candidates” event is scheduled from 7 to 7:30 p.m. before the meeting begins. This is an opportunity for residents to familiarize themselves with the candidates running for the MVF Board of Directors, ask questions and enter into dialogue about prominent issues. Residents are invited to attend; full meeting details and the meeting packet will be posted online at www.montgomeryvillage.com the week before the meeting.