|
Campfire Mountain Homes
Annual Membership Meeting Minutes
Wednesday, December 26, 2001
I. Open, Call to Order
The Annual Membership meeting of the Campfire Mountain Home Owners Association
was held on Wednesday, the 26th day of December 2001 at the office of Key To The
Rockies located in Keystone, Colorado.
Board Members present were:
Bonnie Merchant #7
Ray Shane #14
Ernie Pierson #12
Larry Gagnon #3 (by conference call)
Homeowners present were:
Harold Merchant #7
Cheryl Shane #14
Myron Gordin #8
Pat Gordin #13
James Brackensick #5
David Whitten #6
Bruce & Sharon Stanley #4
Members represented by proxy were:
Bill Parkhouse #2
David Svitak #1
Catherine Tierney #11
Other present were:
Mike Magliocchetti, Key to the Rockies
Casey Wood, Key to the Rockies
Mike Magliocchetti called the meeting to order at 9:00 am. The proxies were
reviewed and read into the minutes. Twelve of the fourteen owners were
represented either in person or by proxy creating a quorum of 86% so the meeting
proceeded as scheduled.
II. Review Proxies, Approve Previous Meeting Minutes
The previous meeting minutes were reviewed by the homeowners and Ernie Pierson
made a motion to approve the minutes. Harold Merchant seconded the motion and
the motion was approved by the homeowners.
III. Reports
Mr. Magliocchetti presented the most recent financial reports for the
association through November 20, 2001. He pointed out that the Operating Account
has a current balance of $1,600.00. The reserve Account is made up of two
accounts: a CD with a balance of $7,500.00 and a saving account with a balance
of $7,500.00. The Statement of Operations currently shows a year-to-date deficit
of $3,200.00. This deficit was primarily due to the Repair & Maintenance
account. This number is projected to be approx. $1,500.00 at year-end.
All members are current in payment of dues, in fact several have a credit
balance on their account.
Bruce Stanley inquired about the types of accounts the Reserve Fund is being
held in. The CD is a 3-month CD currently accumulating 3.15% interest. The next
renewal will be in February. The savings account is located at Community First
National Bank.
The next order of business was to review and approve the 2002-operating budget.
Mike Magliocchetti submitted a budget proposal for the upcoming year, which
represented a –1.87% decrease in overall expense to operate the property. Each
line item was reviewed and discussed. The accounts, which increased
significantly included Insurance, Fire Alarm Line and Electricity.
With regard to the insurance quotes will be gathered to compare costs with other
insurance companies. Another option is to raise the deductible from $500.00 to
$1,000.00. The policy renews in May.
The Fire Alarm Line consists of 4 telephone lines and the monitoring of those
lines by Easy Way. The monitoring of the lines were not budgeted for last year
and by including them in the budget this year created an increase in the budget.
To insure the proper functioning of the fire alarms Key to the Rockies will be
performing annual fire alarm checks and change batteries. Larry Gagnon suggested
including cold alarm monitoring in the budget. Mike Magliocchetti is to find out
the cost of a service like this or alternatives.
Accounts that decreased significantly included Cable and Transportation. A 20%
discount was negotiated with AT&T Cable on expanded basic service.
The transportation was eliminated from the budget. Later in the meeting the
topic was discussed in further detail.
Ray Shane questioned the amount of money budgeted in Repair & Maintenance. He
didn’t think it was adequate to cover the expenses associated with the deck work
to be done in the spring. Jim Brackensick suggested that the decks should be the
responsibility of the homeowner and they should all be taken care of at the same
time. Larry Gagnon reminded everyone that the decks are a capital improvement
and would need Board approval before any work was done by the owner. Ernie
Pierson reminded Mike Magliocchetti not to spend over $500 without Board
approval. Mike Magliocchetti is to obtain bids to have the decks repainted.
Decks will be repaired in the spring at a cost to the HOA.
Ernie Pierson put it to a vote and it was unanimous. All decks are to be stained
& sealed this spring or as soon as the weather allows and it will be an expense
to the owner.
Mike Magliocchetti then reviewed the common Area Maintenance Account. This
account is for custodial upkeep of the common area. It does not include any
allowance for additional plant material. Both Jim Brackensick and Ernie Pierson
said planted can be done by the owners with Board approval. Mike Magliocchetti
included that al irrigation to new plants or trees will be at the expense of the
owner.
The reserve fund for 2002 will stay at a monthly contribution of $1,000 per
month. The reserve is being built up to paint the exterior in 2004.
The asphalt driveway is a concern because it was not installed correctly. Ernie
asked Mike Magliocchetti to get bids to fix the problem and approach the
developer about the cost.
The developer is also to install gutters on some homes.
Ernie Pierson wants to list all problems and create an agenda on when to get
them fixed. Also to create a plan on how to spend the money to fix them.
A vote on what to do with the Transportation was taken. 11 votes were to cancel
the service and 1 vote was to keep the service. The transportation has been cut
from the budget. If at another time it becomes more desirable it will be looked
at again.
Ernie Pierson made a motion to approve the budget and Bonnie Merchant seconded
the motion. It was unanimously approved. Dues will be adjusted and January
Statements will be sent out.
IV. Old Business
Lighting in front of the buildings has been an ongoing concern. More light is
needed for safety and security. Cheryl Shane suggested changing the fixtures on
the already existing light poles. Ernie summarized that the Board has come to no
conclusion and said its up to what the homeowners want to do. The homeowners are
to take their suggestions to Mike who is to pass it along to the Board with
bids.
The sign at the entrance to Campfire needs to have more light shining on it.
Mike is to either put a larger fixture on it or readjust the current light and
put a stronger light bulb in it.
The amount of traffic on Snake River Drive has increased. Ernie suggested
putting up a sign that says Private Drive or Dead End. Mike thinks the majority
of the extra traffic is from Snake River Village Building 8, which is year round
affordable housing.
Ernie Pierson would like to see a street sign installed at the entrance to
Campfire. This will allow owners to give better directions to guests. Mike
thinks that will create more traffic. Mike suggests changing the name of the
street. Mike will look into this.
Ernie and Larry both think a garden committee should be formed in the summer
months. Homeowners who are in house during the summer can take part.
Bruce Stanley inquired about the gazebo and fireplace. All owners should have a
key to operate the fireplace. Instructions will be printed and mailed to all
homeowners on how to operate it.
The new Management Fee will go into effect on January 1, 2002. Ernie proposed
that the contract become effective at that time also. Bruce Stanley seconded the
motion and it was approved unanimously.
A few bylaws need to be corrected. Article 5 Section 5.1 – Should say that the
Board consists of 5 members.
Section5.2 – Length of Terms for Board should be 1 position at 3 years, 2
positions at 2 years and 3 positions for 1 year.
Article 6D – Should allow management company to make deposits into the operating
and reserve accounts.
Article 7 – The seal should say Campfire Mountain Homes not Trya.
All homeowners agreed that the changes should be made.
V. New Business
David Whitten will be submitting to the Board a proposal to extend his deck
around his hot tub. His proposal is to include where the improvements will be
and what materials will be used.
Many homeowners are having problems with the heated driveways. Grizzly Plumbing
is to check all driveways and find out what the problem is and what the cost
will be to fix it.
The management company is to have a key to each unit. If you have rekeyed your
home please drop off a new key.
Jim Brackensick is interested in installing an electronic lock on his door. The
Board has no problem with Jim doing this provided that he pays for it. The
electronic locks provide better key control to the property.
It was suggested by Bruce Stanley to install carbon dioxide detectors in each
home. Key to the Rockies is to make a proposal to the Board including cost of
detectors and cost of managing them.
VI. Election of Board Member
Larry Gagnon resigned as board president but decided to continue to serve on the
board.
David Whitten volunteered to serve. Ernie made a motion to elect him and Harold
Merchant Seconded. The motion was approved by the majority. His term will expire
in 2002.
Your Board of Directors for 2002 are:
Bonnie Merchant – President – 2004
Ray Shane – Vice-President – 2002
Ernie Pierson – Treasurer – 2003
David Whitten – Secretary – 2002
Larry Gagnon – Member – 2003
VII. Open Discussion
Mr. Parkhouse wanted the following included in the meeting. Should Campfire
impose a 1% charge to all homes that are sold. The money will be used to pad the
reserve fund. The majority of the homeowners do not like this idea. They think
it would be a deterrent to possible buyers. No one present was in favor of this.
The next annual homeowners meeting will be held in late December of 2003.
VIII. Adjourn
With no more to discuss the meeting was adjourned at 11:00 am.
Respectfully Submitted,
Casey Wood
|
