Campfire Mountain Homes
Board of Directors Meeting
July 7^th, 2006
Minutes

The Board Meeting was convened at 9:30 A.M. at the home of Jan Tucker. 

               I.      Amending/agreeing the last HOA minutes.

·        The annual meeting minutes were approved as presented.  A copy of the minutes have been posted on the HOA website (kttrhoa.com).

            II.      Change of banks to Alpine, but not change to ACH direct debit for dues unless any owner wishes to do so ( i.e. it will not become mandatory).

·        Campfire bank accounts have been changed from Bank of the West to Alpine bank.  Alpine Bank provided a higher interest rate on savings (reserve) accounts and has lower operating charges than Bank of the West.  It was decided by the board that if anyone would like to participate in the ACH Debit for dues, they would be obligated to pay for the $5.00 ACH fee charged by the bank.

          III.      Notify Key to the Rockies that they need to insist that #5 and #14 keep their HOA dues current.

·        All accounts are current.  Campfire 14 is under contract for sale and Campfire 5 has increased their working capital on their short term account to ensure prompt payment.

·        It was suggested that the dues schedule be altered to a quarterly or annual structure.  It was decided to bring up this suggestion at the annual meeting to determine interest.

         IV.      Agree to leave vacant BOD position open until annual HOA or appoint one now.   Consider BOD appointment for interim term of BOD member to replace B. Stanley.

·        Barry Ronan and Jeff Davis have expressed interest in board positions.  The board will approach both members to determine interest level and will determine at that time whether to bring on additional members mid year or to wait until the next annual meeting.

           V.      Review of reserve balance and upcoming capital projects (i.e. staining of south side).

·        Currently the Reserve Balance is 32 thousand which is in line with the reserve budget.  No capital projects are scheduled for 2006 but some of the board members noted the need to have the green stain touched up on some of the homes. 

         VI.      Discuss more effective communication between BOD members.

·        The use of e-mail has increased the effective communication between board members.  The board will also meet a minimum of twice a year to facilitate open communication.

       VII.      Consider approval of request for Hot Tub installation for Unit 5 per 13.5(h) - p37.

·        Campfire 5 has not yet submitted hot tub plans for review by the board.  This matter will be tabled until plans have been submitted.  The board will require that the conduit be hidden from site as part of the approval process.

     VIII.      Discuss amendment and/or expansion of Use Restrictions per 13.5 - p34 with respect to leased or rented units.

·        There was some frustration caused by a group of renters that utilized one Campfire home for meeting space.  This usage cause increased noise levels in the community disrupting some of the homeowners.  It was decided that this was an isolated situation that is unlikely to occur often and no action is needed at this time.

         IX.      Open Discussion

·        The traffic from Snake River Village is still a problem.  A suggestion was made to install speed bumps similar to the bumps located in SRV.   Mike Magliocchetti of Key to the Rockies will obtain an estimate for 4 speed bumps.  Two speed bumps are to be located between Snake River Village & Campfire and to be built as tall as possible.  The other two should be located near the dumpster and near CF 14.

·        The pipes leading to CF 3’s hot tubs are exposed and constitute an eyesore.  The owner, Barry Ronan, plans to paint the exposed pipes so they blend with the building.  The conduit needs to be rerun to face unit 3.  Key to the Rockies will contact Mr. Ronan to accelerate the process.

·        A discussion ensued regarding the installation of wood floors in the townhome properties.  In floor heat can cause wood floors to dry and separate over time and can also cause noise issues in downstairs homes.  It was the Board’s opinion that wood floors were not the best floor material for Campfire properties.

           X.      Adjourn

·         The meeting was adjourned at 11:00 A.M.

Feel free to contact us with any questions or comments you may have!