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MEADOW COVE CONDOMINIUM ASSOCIATION INC.
BOARD OF DIRECTORS MEETING
MINUTES OF SEPTEMBER 10, 2004
Members Present:
B4 Toby Cruse
B6 Karl Bierbaum
D2 Mr. & Mrs. O’Haver
D3 Kurt Baker
Others Present:
Andrea Sonderfan
Stacey L. Harris
I. Call Meeting To Order
The BOD meeting held at The Cala Inn was called to order at 6:07 P.M.
II. Review Current Financials and Budget
Andrea informed the Board members that we are currently under budget for the
year. She also introduced Stacey L. Harris as the accounts payable and
receivable contact. There are currently two owners with outstanding dues.
Douglas McBee and Trygve Berge. The decision was made to contact Mr. Berge by
certified mail to inform him that if dues are not paid within thirty days we
will start the lien process on his unit. We discussed that Stacey has been
issuing late fees for owners who are late on their monthly dues assessment. We
have seen a good response to this so far. The reserve fund is currently $20,000.
To go ahead with the roof replacement of A & B would deplete the reserve fund.
The option of increasing the reserve assessment was also discussed. Andrea
showed a reserve allocation chart for Timberlodge, and suggested that a similar
plan be used to help budget the reserve fund over a thirty-year time frame.
Everyone agreed that this was a great starting point, and that we would discuss
the reserve fund increase after thoroughly looking over the Meadow Cove reserve
spreadsheet at a later date.
III. Capital Projects
1. The bid for the 105-foot fence was discussed. The bid of $12 per foot was
brought to the attention of the board. Everyone agreed that this was a great
price. Toby Cruse stated that the fence might not be a great idea because in the
winter the snow storage would cause damage to the fence. Also Kurt and Mr.
O’Haver suggested that they might be able to buy the supplies and construct the
fence cheaper themselves. Andrea informed them that they would have to provide
Key To The Rockies with proof of insurance to do this work. Kurt Baker and Mr.
O’Haver both stated that they have insurance policies so that would not be a
problem. After further discussion the decision was made to bring this up at the
annual membership meeting.
2. The bid from Turner Morris 2002 was brought to the attention of the board.
Their bid was $10,000 for one building and $12,000 for the other building. It
was also noted that G & G Roofing is bidding on the roof as well. It was
suggested that when the decision is made to go forward with the roof that the
summer might be a good time to do this. Also roofing one building a year was
suggested. To go ahead on the Turner Morris bid would totally deplete the
reserve fund. So this item is also going to be discussed at the annual
membership meeting.
IV. Reserve Replacement
The possibility of increasing the reserve fund was discussed in detail. Examples
of the top priorities were noted including: Common area windows and carpeting,
exterior lighting, painting, siding replacement. It was also noted that there is
no need for a retaining wall. We also discussed the factors that would determine
the amount of increase needed to fulfill these goals. Andrea is going to prepare
a spreadsheet with the projects and budgeted amounts similar to the Timber Lodge
30-year budget. Once this is completed, the board members will reconvene to
discuss the increase amount to be discussed at the annual membership meeting.
Also discussed was possibly adding a Contingency Fund, and an Improvement Fund.
This too will be discussed further at the next BOD meeting. Also noted that the
dues increase for last year was 1.66%.
V. Scheduling of Annual Membership Meeting
The board members decided to have the next meeting at Key To The Rockies on
December 3, 2004 @ 6:00 P. M.
VI. Open Discussion
It was suggested by several board members that signage might be needed by the
dumpster to prevent construction debris from filling the dumpster. Toby Cruse
mentioned preparing a list of renter’s regulations for the owner’s that rent out
their units. We also discussed the possibility of installing locks on the common
areas. The board members thought this was unnecessary so no further discussion
was needed. It was decided that a letter should be sent to A2, instructing
him/her to not use the association dumpster for construction debris. Andrea and
Stacey agreed to handle this. Also discussed was the letter to Mr. Sills
concerning the fireplace in his unit. As stated in the ‘conditions reports
letter’ from Chim Chimenee on the wood burning systems of Meadow Cove, “ Unit
B-1 6 “ chimney is on top of 8” chimney. Stove and chimney connectors do not
meet clearances to combustibles. System will not vent properly; flue gases can
back up into the unit. Also there is a risk of fire and is against code. DANGER.
This stove should not be used in this manner. The decision of the board was to
have someone enter the property and remove the stove. This of course is only to
be done if Mr. Sills is negligent and does not handle it himself. If this entry
does occur, Mr. Sills will be charged for the work, and the stove will be stored
on his porch. Carl Bierbaum mentioned that B-5 has had trouble with a bird in
his chimney. Carl stated that this is a common problem and does not warrant
emergency attention. Also briefly mentioned installing spark screens. The
painting of the buildings was discussed next. Sarah stated some concerns about
the rinsing out of hoses on the property. Toby and Carl noticed that some edges
were sanded down which causes peeling. Mr. O’Haver also noted that Sunshine
Painting worked very quickly compared to other companies in the area that were
working on similar properties. Sarah also stated that she thought the
landscapers were doing a great job. Mr. O’Haver also stated that Juan was a nice
person to work with.
V. Adjournment
The meeting was adjourned at 7:23 P.M.
Kindest regards,
Stacey L. Harris
Key To The Rockies
HOA Accountant
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