Meadow Cove Annual Membership Meeting
December 13, 2005
6:30 P.M.

In attendance:

1.      Open, Call to Order, Roll Call

The meeting was called to order by Toby Cruse at 6:30 P.M. at the Key to the Rockies Board room. 

2.      Reports

Current Year Financial Status:
Andrea Sonderfan explained that overall the financials were within the budget.  The Common Area Maintenance and Insurance accounts were slightly over budget.  The December 2004 charges were included in the 2005 expenses for Common Area which explains their overage and increases in the premium rate explain the Insurance budget overage.

Proposed 2006 Operating Budget:
There was an overall 3.14% increase proposed with the 2006 budget.  This was comprised of the following increases:
There was a 5% increase in management fees-$300 per year.
There was a 10% increase in insurance and electric.
After much discussion (see item 3) the homeowners decided to cancel common area maintenance with Home Sweet Home.  These activities (snow shoveling, vacuuming common areas, landscape maintenance) will be completed by homeowners.  The dues will remain the same as 2005 with any monies that were saved by canceling common area maintenance being put towards the reserve fund. 
-  Motion by Karl to keep dues as are and put extra in reserves.

    2^nd

    3 against-9 for-motion passes.

Andrea will adjust the budget accordingly and it will be sent out with January Dues.

   3.      Common Maintenance

Homeowners expressed concern regarding the $6200 cost towards maintenance and cleaning. They believe it is not worth it to keep it in the budget.

-Homeowners said they would rather take care of the common maintenance themselves.

-Motion-to do away with common shoveling, vacuuming and maintenance.

All in favor-motion passed to remove common maintenance

-Motion by Karl-to reinstate common maintenance in spring if doesn’t work out.

        2^nd-Toby

        All in favor-passed

-Although common maintenance was cut out, the homeowners want to keep the landscaping in budget to possibly buy equipment for taking care of the lawns (Weed whacker etc.).

4.      Snow removal

Some homeowners were upset regarding the quality of the snowplowing at Meadow Cove.  There was a verbal confrontation between the snowplow driver and a homeowner.  Regarding the snowplow “incident” homeowners agreed to let Key to the Rockies handle the issue. A suggestion of moving cars out of the parking lot every so often to eliminate abundance of snow was discussed.

5.      New Business

-  Motion by Jeremy to look into self-management at some point in the future. 

2^nd-Sarah

5 against-7 for-motion passed

A few concerns regarding self-management were brought up.

What about legal problems such as homeowners not paying dues?  Who will carry the employee dishonesty insurance for handling association funds?  What about compliance with new regulations adopted by the state of Colorado with Senate Bill 100?

-Jeremy will head a committee to research self managing Meadow Cove.  A special meeting for all homeowners will be held in the spring to review their findings.  Motion to have a meeting where the committee will present to the association, as a whole, the information they have received after a 90 day trial period regarding self-management.

All in favor - motion passed

6.      Meeting Dates

–         To be determined.

7.      Adjourn

The meeting was adjourned at 8:05 P.M.

Respectfully Submitted,

Melanie Sedor
Key to the Rockies

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