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Snake River Village Annual Homeowners Meeting February 3, 2002
I. Calling the meeting to order
Board members present were Richard Grant, President Joe Lammert, Vice President Charlie Papp, Treasurer Jackie McDonald, Secretary John Gardner, Member
Owners Present Lawerence Jennings #2809 Penny Lammert #2811 Bob & Maxine Schultz #2819 Rene Sotola #2820 Kyle McDonald #2823 Karen Lausa #2826 Al & Jan Schnabel #2827 Stevie & Greg Liptak #2840 Lisa Gardner #2841 Jeff Zalkind #2842 Joanne Grant #2845
Keys To The Rockies representatives present Mike Magliocchetti – Managing Agent Casey Wood – HOA Bookkeeper
The proxies were reviewed. 24 of the 45 homeowners were present or represented by proxy, creating a 53% quorum. The meeting proceeded as scheduled
II. Approval of Previous Meeting Minutes A motion was made by Mr. Schultz to approve the minutes of the previous annual meeting. The motion was seconded by Mr. Schnabel and carried unanimously.
III. President’s Report Mr. Grant read his message to the homeowners (copy attached). He addressed the previous year’s landscaping initiative, with the addition of trees, shrubs, sod and rock gardens, and how this has enhanced the property. He continued on with announcing the completion of touch up staining for Buildings 1-3, spa, dumpster and fence line, the lighting of the dumpster area, the enclosing of cul-de-sac dumpster facility to allow for more storage, the addition of extra lighting for the winter season, the addition of water faucets on buildings to aid watering, and the Fall checkup of all boiler systems. He announced all these projects were funded by current homeowner association fees, with no additional increases. Mr. Grant announced that the Reserve Fund is healthy and in line with projected requirements. IV. Managers Report
A. Review 2001 Year End Statement of Operations Mr. Magliocchetti (“Mike”) acknowledged that all attendees were in receipt of a summary of financial statements, including the balance sheet and income statement. He reinforced Mr. Grant’s previous comment about how we have been able to operate on the current HOA funds we had available. For 2001, Mike indicated we had a slight deficit of $1600, which was offset by retained earnings from the 2000 surplus. Mike indicated the Reserve Fund to be in good shape, and continuing to coincide with the amount that should be there, per the Gillians engineering study. Mike expects no major capital expenditure going into 2002 other than what might get decided in this meeting.
Mike indicated several accounts that hold our reserve monies; $36,900 in the local Community First Bank, and the bulk of reserve moved to an E-trade money market account, with a balance of $80,740 as of 12/31/01. Mike indicated Mr. Papp, Board Treasurer, recommended moving accounts from banks to E‑trade. These E-trade accounts are currently earning 2.6% interest, and suggest we leave it there so we have immediate access to the funds, if required. Mike encouraged owners to provide suggestions of how to better leverage these funds.
Mike indicated a surplus of retained earnings in the amount of $8,700, and $30,000 equity as being attributed to working capital.
Mike discussed how the Income Statement shows a line-by-line of various revenue and expense accounts. He pointed out $3,600 interest, $740 E-trade interest, along with extra income rent for storage sheds. In total, SRV has 3 dumpster sheds and only one is used for trash, the others used for additional storage and rental. Mike mentioned the east storage shed and how an overhead garage door was added, the side door and a window were added for a total cost of $1,300.
Mike discussed the Special Projects account and its use for capital items and improvements to property, such as landscaping. The cost of the Fall 2001 boiler inspection was charged to this account. Mr. Schnabel asked which buildings are getting stained in 2002. Mike indicated that touch-up staining for Buildings 4,5,6, and 7 were scheduled. He went on to discuss the 4-year cycle where we do half the buildings in Year 1, half the 2nd year, touch up the buildings done in Year 1 the 3rd year, and, touch up the buildings done in Year 2 the 4th year. The cost of this 4-year cycle is $55,000 for Years 1 and 2, and $5,000 for Years 3 and 4. We are currently in Year 4 of this project. Mike also mentioned that some significant repairs were made to exterior siding this past year.
Mike highlighted 2 other expenses for 2001. These included adding outside lighting and sensor detector to the dumpster for $1,700, as well as refinishing the front entry sign for approximately $200.
In discussing the 2002 operating budget, Mike indicated the homeowners dues will remain the same, Key to the Rockies will receive an agreed-upon increase in its management fee, special projects has gone down considerably, and cable expenses are going up. Mike also indicated that our insurance expires the end of March, 2002. We do plan to go out to bid, and carriers are suggesting budgeting a 20% increase due to rising costs, or approximately a $1,200-1,500 increase. This increase has been reflected in the operating budget. Also mentioned was gas and electric has spiked, so we have accommodated for it and have done so in the operating budget. Mike also highlighted that we continue to contribute $35,000 into the Reserve Fund, in order to eliminate special assessments.
B. Approve 2002 Budget The Operating Budget will remain unchanged for the 4th year in a row. Mrs. Lammert motioned to approve the new budget. Mr. Schultz seconded the motion and it was unanimously approved.
V. Old Business A. Freeze Alarms Mr. Grant pointed out that in January, 2002, 14 of 45 units did not have these alarms visible. This makes it difficult to protect our investments and neighbors’ investments. Mike went in and found all 14 units. Many of these were rental units. It is important each owner keep their alarms visible. Key To The Rockies will take the action items to alert all other management companies to make sure this alarm always stays visible. Mr. Grant mentioned that in order to test to insure proper working condition of the alarm, place the sensor into freezer, and in about 1.5 minutes, the alarm will go off. Mr. Gardner suggested some type of “Do Not Remove” label be placed on the alarm. Mr. Zalkind suggested mounting the alarm. It was agreed to labeling. It was also agreed that a letter get generated and included in next mailing addressing this situation. It is noted that the following units did not have their freeze warn alarms visible: 2804,2805, 2806, 2808, 2810, 2815, 2817, 2820, 2824, 2826, 2830, 2834, 2835, and 2837.
B. Kickplates During the December, 2001 Board teleconference, the purchase of 45 kickplates for front doors was approved. This decision was made to maintain uniformity in the appearance of the doors, since some owners had already purchased them. Approximately $900 will be spent for this project. Buildings 4-7 will have them installed after staining touch ups are completed in 2002.
C. Declarations, Bylaws, Regulations, and Enforcement Mr. Grant acknowledged that not all owners and renters are following the Declarations, By – Laws & Rules and Regulations. For example, renters are coming in with animals, which are not allowed. Owners are allowing pets to run free and not cleaning up after them. Other examples include cars illegally parked on the street, a 28 foot RV parked in one of the driveways, trailers with off-road vehicles parked in the driveway, changing locks on doors, changing out an outdoor lighting fixture, climbing the fence to the spa after 11 pm, and glass containers in spa. The question was raised about how we go about solving this problem. The following were discussed and taken as action items to implement: 1. Reinforce the fine schedule that is included as part of the Rules and Regulations. Recommendation by Mr. Zalkind. 2. Installation of pet poop cleanup station with plastic bags. This will get installed at the dumpster. Recommendation by Mrs. Lausa. 3. Mr. Papp brought up concerns about the spa and the use of glass items in the area. Mr. Zalkind suggested recycle bins for glass and aluminum, but it was agreed we did not want to promote use of glass items in the spa area. Instead, it was agreed to maintain a garbage can at the spa. Additionally, a motion was made by Mr. Zalkind and seconded by Mrs. Schnabel to install a plastic cup dispenser near the spa jet controls. This was approved unanimously. 4. Spa rules will also get posted in the changing room.
A number of changes to the Rules and Regulations document were also discussed. A motion was made by Mr. Schulz, seconded by Mrs. Schnabel, and carried unanimously, to make the following modifications: 1. Services – Add letter J. Water and Sewer 2. Recreational Vehicles – Change this to read “Snowmobiles and all-terrain vehicles (ATVs) are prohibited from use in Snake River Village. All recreational vehicles, including but not limited to snowmobiles, all-terrain vehicles (ATVs), travel trailers, campers, and boats may park in Snake River Village for a maximum of 2 weeks, as long as they can be parked comfortably in a single 10 foot by 20 foot parking space. Contact your property manager for parking recommendations for recreational vehicles larger than a single parking space.” 3. Pets – Modify letter J to add the following sentence – “Pet cleanup dispensers are available at dumpster area.”
D. Bus Transportation Mr. Grant provided a history of this controversial subject. He read the letter that was sent out to all homeowners in which the board unanimously cancelled the service. Mr. Schulz provided the opinion that this decision devalues our property and that bus service is one of his reasons for purchasing at Snake River Village. Mr. Grant indicated that a total of 18 of 45 units are rental units. Mr. Sotola commented that it feels like a bottomless pit with Keystone, in that they can arbitrarily raise the price by a significant amount, and suggests experimenting with the Board decision for canceling service and evaluate the amount of negative feedback over the ski season. Mr. Sotola also suggested we evaluate the same with Frostfire, Cinnamon Ridge, and Campfire properties. Mr. Zalkind suggested we go back to Keystone and tell them we will pay up to a certain amount for the 2003 season. Mrs. Lausa asked why Campfire backed out. Mr. Grant indicated that to the best of his knowledge it was because only one owner was using transportation and their Board was trying to reduce their operating expenses. Mr. Schnabel suggested sharing the incremental costs between rental units. Mrs. Grant suggested we get a coalition of homeowner associations to go to Keystone and resolve the problem. Mr. Magliocchetti indicated he mailed a letter to all rental customers and informed them the bus service was ended. He believes the fallout as a result of the termination will be more than the extra $1900 required to cover the incremental costs for service. Mrs. Lausa suggested working something out with Gateway.
Mrs. Schnabel motioned, Mr. Liptek seconded, and it was carried unanimously that we revisit this issue in September 2002 and review this situation with Cinnamon Ridge, Frostfire and Campfire to see about reinstating for 2003.
Mrs. Schnabel motioned, Mr. Liptek seconded, and it was carried unanimously that if the owners of the rental units agree, we conduct a special assessment to these units to cover the extra $1,900 and get bus service reinstated. There were 5 rental owners present at the meeting and all agreed to the special assessment. These included Mr. Liptek, Mr. and Mrs. Schnabel, Mrs. Lausa, Mr. Sotola, and Mr. and Mrs. Schulz. Mike took the action item to contact the rest of the rental unit owners immediately. Mr. McDonald expressed concern that this is an issue that could prove divisive amongst all the homeowners and that we should quickly pursue a permanent solution to this matter.
E. Long Term Renter Request for Dog on Premise Mr. Grant read a letter from Unit 2815 requesting permission to have a dog on the premise. Mr. Papp motioned, Mrs. Grant seconded, and the request was approved unanimously.
VI. Election of Board Members The Board positions of Mr. Grant and Mr. Lammert have expired. Both have expressed an interest in continuing as Board members. Homeowners were asked to volunteer or nominate someone. As a result, Mr. Schulz and Mrs. Lausa indicated an interest in serving on the Board. All four nominees had the opportunity to share a little about themselves with the attendees.
Proxy votes assigned to Mr. Grant were cast equally for all four nominees. The Board members elected to serve the 2002-2003 term are-- Richard Grant – President John Gardner – Vice President Jackie McDonald – Secretary Charlie Papp – Treasurer Karen Lausa – Member
Mrs. McDonald and Mr. Grant acknowledged the contribution Mr. Lammert made to the Board over the previous three years and encouraged Mr. Schulz’ continued involvement with Snake River Village.
VII. New Business
A. Set Meeting Dates Mr. Sotola motioned, Mrs. Lammert seconded, and unanimously approved the next meeting dates as follows:
1. Saturday, July 13, 2002 – 9 am Board of Directors Meeting. Meeting to be held at Key To The Rockies office. 2. Wednesday, December 4, 2002 – 7 pm teleconference. Board of Directors meeting 3. Sunday, February 2, 2003 – 9 am Annual Homeowners Association Meeting
B. New Building Lights Mr. Grant proposed replacing all 75 outside lighting fixtures, for an approximate cost of $5,000. Mrs. McDonald asked why this is being proposed and what is wrong with what we have now, since what we have now is not broken. Mr. Grant stated that the photocell & bulbs hanging down were very unsightly and did not reflect the investment we all have in our properties. Mr. Schnabel stated that based on his experiences with other projects, it has the potential to raise property values. Mrs. Grant mentioned that if the photocell is built into the unit and it goes bad, you have to replace the entire unit and suggested a light fixture where you have to add the photocell. A motion was made by Mr. Jennings, seconded by Mr. Schnabel to proceed with the project of changing lighting system at a cost of not to exceed $5000. This motion was carried with 2 people opposed (Mrs. McDonald and Mr. Schultz).
C. East Fencing of Cul-de-sac Mr. Grant discussed the issue of cars illegally parked at the Snake River Village property due to overflow parking situation at other Keystone parking facilities. These cars end up parking at the east end cul-de-sac. A bid to fence that area was provided to Snake River Village. The bid is in the amount of $6,875 for complete 6-foot privacy fencing. Mrs. McDonald indicated says she walks through that area and does not want it fenced. She suggested the idea of parking permits. Mr. Grant suggested signage that says parking by permit only, tow away zone. Mrs. Lausa commented that barbed wire fence is unattractive. Mr. Schnable disagreed with Mrs. Lausa, indicating his dislike of the privacy fence. Mrs. Grant asked if there is some design that would be more aesthetically pleasing. Mike suggested split rail that would cost approximately half the cost of privacy fencing.
Mr. Schnabel motioned, and Mrs. Lammert seconded repairing the barbed wire fencing, put up no parking by permit only/no trespassing signs, and evaluate fencing options at next board meeting. Upon further discussion, Mr. Schulz indicated barbed wire as a significant liability for us, acknowledging it as lethal. Mrs. Lausa indicated a split rail solution is a reasonable compromise. It was asked how far the property line extends. Mike indicated he thought it extends all the way to the road. Mr. Grant believes the property line is located at the barbed wire fencing. This motion failed to pass.
Mrs. Lammert motioned, Mr. Schulz seconded that we remove the barbed wire, evaluate prices of split rail, make a final decision by the next board meeting, and install appropriate signage. Upon further discussion, Mr. Gardner asked about the amount of money allocated to special projects, as he believed the funds would come from this account. Mike informed the attendees the funds for this project would come out of reserve budget. Mr. Zalkind suggested we determine if the signs are effective prior to making a financial decision. After no further discussion, the motion was approved.
VIII. Open Discussion
A. Staining and Touch-up of Building 4-7 and Storage Shed This project is scheduled for 2002, and will cost approximately $5,000. Touch-up activities include staining the bottom 5 boards of the exterior, front doors and any water & ice streaks. Mr. Lammert suggested including all south facing front doors as in Building 3 & 4. Mrs. Schulz motioned, Mrs. Lammert seconded and it was unanimously approved to proceed with touchup staining for Buildings 4-7 and south facing doors.
B. Replacement Landscaping Mr. Grant mentioned the annual landscaping budget is not to exceed $3,000, per a Board decision made several years ago. Mr. Schnabel provided positive feedback to the present landscaping activities completed. Mike gave a history of landscaping activity and suggested doing something with the planters. Mr. Sotola agreed with Mike’s comments. Mrs. McDonald mentioned that landscaping comes out of special projects and that this account has been short-funded with only $2,375.
C. Board Biographies Mrs. Liptak made a motion, Mrs. Grant seconded and it was unanimously approved that each prospective Board member write a short biography that can get sent out to homeowners prior to annual meeting. Additionally, it was agreed to put together a questionnaire in order to facilitate the writing of the biography. Mr. Zalkind also suggested sending out bios on all board members.
D. Thanks to Mr. Grant and Board Mr. Liptak expressed his thanks to Mr. Grant, the Board, and Mike for the work that has been done to date.
IX. Adjourn Mr. Schnable motioned to adjourn, Mr. Sotola seconded, and approved at 12:05 pm.
Respectfully Submitted,
Jackie McDonald Secretary
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