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Snake River Village Annual Homeowners Meeting February 4, 2001 Meeting Minutes
I. Calling The Meeting To Order
Board Members present were:
Richard Grant, President
Owners Present were Charlie Papp #2813 Chris Truelson #2818 Rene Sotola #2820 Kyle McDonald #2823 Al Schnabel #2827 Lisa Gardner #2841 Jeff Zalkind #2842 Joanne Grant #2845
Key To The Rockies representatives present
Mike Magliocchetti – Managing Agent
II.
Approval of Previous Meeting Minutes A motion was made by Mr. Papp to approve the minutes of the previous annual meeting. The motion was seconded by Mr. Schnabel and carried unanimously.
The proxies were reviewed. 26 of the 45 home owners were present or represented by proxy creating a 58% quorum. The meeting proceeded as scheduled.
Mr. Grant requested a draft copy of today’s meeting minutes by February 15. Mr. Grant and Mrs. McDonald will review the draft within 5 days and make any needed corrections. The revised copy of the minutes will be sent out by March 1.
III. Presidents Report
Mr. Grant read his message to the homeowners. He announced a surplus to the budget for the year 2000. He addressed the completion of the staining project, how the addition of trees, shrubs and sod enhanced the property and how the reserve fund finished strongly. He continued on with goals for 2001 including reaching a $100,000.00 reserve fund, as recommended from the Gillans engineering study, continuing the landscaping and beautification program and continue to remain involved with Keystone and Summit County officials. ( See Attached ) IV.
Managers Report A. Review 2000 Year End Statement of Operation Mike reviewed the
balance sheet, income statement, and the accounts receivables due report. Only
one account is in arrears with HOA fees and steps have been taken to remedy this
situation. He went on to talk about the reserve fund and how this fund is the
commitment the HOA has made for capital improvement projects. Mike indicated we
are right on schedule with funding the reserve fund. He also commented on
Account 3000 which is a clearing account with Keystone. This amount was in
dispute with Keystone and Snake River Village ended up paying Keystone less than
what they have invoiced us. Keystone cashed the check and have not pursued it
further. Mike considers this a dead issue. B. Review Replacement Fund
Mr. Grant asked what the interest rate is for the reserve account and CD. The
rate is approximately 4.9%. Mr. Grant suggested we pursue a higher interest
rate since we have 1-2 years before a large expenditure. Mr. Gardner suggested
a mutual fund. This is possible if the principal is 100% protected. Mike and
the Association Treasurer are to investigate other avenues that could provide a
higher rate.
Mike pointed out that the association did save about $5,000 on the staining
project. Gillans study showed the expense would be around $60,000 and Mike
brought it in at around $55,000. In
reviewing the statements the association ended up with $11,700 in surplus and
were able to contribute $35,000 to the reserve fund. The association received a
check from the developer in the amount of $4,983 as a final settlement for roof
and siding work required. There was also some income from affordable housing
for the services that Snake River Village shares with them. The special project
account budgeted $18,000 and only spent $5,700. Mr. Grant indicated that the
association didn’t plan on using that entire amount, but instead used it to pay
for part of the staining project.
The transportation was discussed next. In November 2000 Keystone became aware
that Snake River Village was sharing the expense with other HOAs and threatened
to shut down the service 2 days before Thanksgiving. Mr. Lammert and Mike met
with Keystone and were strong-armed into paying the difference. Keystone
negotiated the rate with the SRV with the knowledge that 4 HOAs were sharing the
expense. The amount that was agreed upon is $11,500 per year. We are currently
negotiating a possible refund from Keystone.
Mrs. McDonald asked how the spa budget fared with closing down one spa during
the summer months. We were still over budget, dispite the fact that only one
spa was running during the summer. Mr. Grant indicated that the spa is
allocated 20% of the operating budget. Knowing this he went to the Keystone
Lodge and asked what a membership would cost. The cost would be $324.00 per
owner x 45 owners = $14,580.00. Our current cost is approaching $20,000
annually for our two hot tubs. The Keystone Lodge has a facility that includes
a pool, sauna, spa, weight room and an exercise room. Mr. Sotola asked if the
membership is transferable to his renters or his guests. Keystone says they can
not be transferred at this time. Mr. Grant wanted this option on the record for
people to consider. Mr. Borkowski proposed that we question the homeowners and
find out if there is any interest in a group rate. Mr. Gardner asked if there
is a way to interrogate how may folks use the spa. Mrs. McDonald asked if the
spa was being covered because she has seen several occasions, including last
night, with the spas not getting covered. Mr. Papp suggested keeping one spa
covered at all times unless someone wanted to use it. Mike said he would
address the issue of the spa not getting covered. C. Approve 2001 Budget
Dues for 2001 will include water and sewer fees. The Board approved an increase
in the management fee. The dues will be constant for the 3rd year in
a row.
Mr. Zalkind motioned to approve the new budget. Mr. Sotola seconded the motion
and it was unanimously passed.
V.
Old Business A. Lighting Proposal
The lighting project is finished but it has been proposed to add lighting to the
dumpster area. This would include placing lights on two sides of the dumpster
enclosure so that it floods out into the street. Mike got two quotes for this.
The price range on these quotes is between $2,100 - $2,400. This will also
include a sensor to automatically come on and a power source. This expense
would come out of the special projects fund. Mr. Papp motioned to approve
expenditure and Mr. Sotola seconded the motion and it was approved. B. Sprinkler Proposal
The sprinkler proposal, which was generated last fall, would cost approximately
$17,000, which does not provide 100% coverage. This proposal would eliminate
the hoses and drip systems. Mr. Grant pointed out that this system would only
be used 4 months per year and that winter might cause freeze-ups and further
maintenance expense. Mr. Grant is not supportive of this measure because it
doesn’t seem cost effective. Mr. Sotola asked what the cost is to manually do
this work. Mike indicated that it was minimal. Drip Irrigation has been
installed in front of Buildings 1 and 2 and 9 new faucets have been installed.
Mr. Zalkind indicated that he witnessed excessive water usage and lack of water
pressure in some areas. As a result, the sprinkler proposal was not approved.
Manual watering will be done again this summer and will be monitored more
frequently. C. Landscape Proposal
Concern over the islands between the driveways has warranted the need for a
Landscaping proposal. Quotations for installing river rock in the 17 islands
have been obtained and the cost has been determined to be $7,600. Mr. Papp
asked about beautifying the front entrance also. Mr. Gardner is concerned about
doing so much work and spending so much money when the final product is not
known. He suggested not doing so much at one time. Maybe do one or two islands
to be sure that the look is what is wanted. He also suggested that installing
cedar pots and perennials would be attractive. Mr. Borkowski indicated that we
have $3,000 per year to use for property beautification. Mr. Grant mentioned we
have a surplus and could use that money also. Mrs. McDonald indicated that just
because we have a surplus doesn’t mean that we have to spend it, rather we need
to look at keeping the dues down. Mrs. McDonald suggested we notify homeowners
of a date in the spring where we will walk the property and determine how to use
the remaining $7,600 special projects fund towards beautifying the property.
Mrs. Grant Motioned and Mr. Papp second the motion and it was approved.
D. Building Maintenance
Mr. Lammert suggested that we have a building maintenance program in place for
touch-ups, renailing and staining. Mike went over the damage that occurred in
2804. At first he thought it had been caused by freezing but learned that it
turned out to be poor plumbing to the boiler. The copper piping that feeds the
boiler was too small. The flow of water was eliminated and the condo froze.
Mike wants to do an inspection this spring of all units to check for this
problem. This was approved by the board.
Mike has recently replaced all lock batteries and batteries for the smoke
detectors and freeze alarms. The Board also has recommended that the freeze
alarms in homes with 3 or 4 bedrooms be moved to a lower level because that is
the first place that freezes.
Mike has reported repairing some sliding glass doors where the sealing has come
off or is totally warped. Since this is a limited common element the homeowner
is responsible for the repair. Mike will offer his services to facilitate these
repairs. E. Spa Closure We
will continue to close one spa from May 1 – November 1. We will alternate the
open spa in August. Mr. Zalkind asked if the jets worked. Mike indicates that
the jets are in an area we cannot get to to fix. The spa needs to be
overhauled, removed and reset. Mike is to get an estimate to do this and it can
be evaluated for 2002.
VI.
New Business A. Orlando Agreement
The Orlando Agreement is a rental agreement on the storage building near
building 7. The rental amount for the first year was $300. The rental amount
for the second year was $600. The proposed rent for the 3rd year is
$600. It was motioned by Mr. Zalkind and second by Mr. Grant and was approved.
A lease agreement is in place. B. Owner Sign Request
Under Article 7.01B, no signs are allowed without permission of the board. Mr.
and Mrs. Grant requested a sign to be hung underneath the light of their unit.
Mr. Gardner expressed concern that if the Grants hang a sign other people will
also hang them with out getting Board approval first. The Board approved the
request of the Grants. C. Future Budgeting/Assessment (Rental vs. Second Homes) A couple of homeowners have brought to Mr. Grant’s
attention that there are some other HOAs that handle Assessments for rental
units differently than second homes, especially for transportation and the spa
facility. Should higher assessments be charged for rental property? Most
present say this is opening a pandora’s box and would be very difficult to
measure. Mr. Borkowski indicated that if anyone has a proposal they would like
to present, they can do so and present it to the Board. But right now the Board
is not in any position to address this. It was agreed unanimously. D. Other
Mr. Borkowski asked about the shelter at building 4. Mike uses this for
storage. Mr. Borkowski requests conducting a feasibility study for converting
it to a sauna.
Mr. Schnabel wanted to know about the plans for the parking lot next to the
affordable housing. It is unknown at this time what will be done there. The
original proposal for moderate income housing was tabled two years ago.
Mr. Sotola wanted to know how to prevent another Widespread Panic – type
concert. Mr. Grant said John Rutter, C.O.O. of Keystone has indicated they
heard loud and clear, through town meetings and written correspondence, how
homeowners felt. They realize they have a lot of work to do in preparation for
another concert. Mr. Sotola said the response he got to a letter he wrote was
one of lack of concern. VII. Election of Board Member Mr. Borkowski is stepping down from the Board. The Board has nominated Charlie Papp. Homeowners were asked to volunteer or nominate someone. No replies were received. Mr. Sotola motioned and Mr. Zalkind second and approved Charlie Papp as new Board Member with a 3 year term. Your officers for 2001 – 2002 are as follows.
Richard Grant – President VIII.
Open Discussion A. Set Meeting Dates The next meeting dates approved are as follows:
1. Saturday, July 8 at 3pm - Board of Directors Meeting 2. December 3 – 7pm teleconference - Board of Directors Meeting
3.
Sunday, February 3, 2002 at 9am - Annual Homeowners Association
Meeting
Mr. Schnabel motioned to approve the next meeting dates and Mrs. Gardner second
and it was approved. IX. Adjourn Mr. Sotola motioned to adjourn and Mr. Borkowski second, approved.
Respectfully Submitted Jackie McDonald Secretary |
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