Snake River Village

Board of Directors Meeting

July 13, 2002

I.                    Calling the meeting to order

Board members present were

Richard Grant, President

Karen Lausa, Member

Charlie Papp, Treasurer

Jackie McDonald, Secretary

Owners Present

      None

Keys To The Rockies representatives present

                        Mike Magliocchetti  – Managing Agent

                        Andrea Sonderfan – HOA Bookkeeper

Phil Constantine – Maintenance Manager

II.                 Approval of Previous Meeting Minutes

A motion was made by Mr. Papp to approve the minutes of the February 2002 annual meeting. The motion was seconded by Ms. Lausa and carried unanimously.

III.               Special Hearing

Mr. Marmins, Unit 2814, had requested a special hearing at today’s meeting to present his case for maintaining a “For Sale” sign in his unit, which is a violation of the Bylaws of SRV.  Mr. Magliocchetti (“Mike”) announced Mr. Marmins has removed the “For Sale” sign from his unit and read a letter of apology.  Additionally, Mr. Marmins wrote a letter to the Board and requested it get delivered to the Board members at today’s meeting.  In this letter, he expressed concern over how this issue of the signage was handled by Mr. Grant.  The letter was acknowledged, with no further action required on the Board’s part.

IV.              Managers Report

A.  Review 2001 Year End Statement of Operations

Mike acknowledged that all attendees were in receipt of a summary of financial statements, including the balance sheet and income statement.  He reviewed our current financial status and commented that no capital improvements are scheduled for the next 12-18 months.  Mr. Grant pointed out that the staining, lighting, fence and kick plate project expenditures should be subtracted from the reserve funds.  Since no large expenditures are forecast for this period of time, discussions were held about securing a higher rate of return for our reserve account funds.  Mr. Papp indicated E-trade was paying 2.4% interest, with CFNB being less.  Ms. McDonald motioned to authorize Mr. Papp and Mike to source out a higher interest investment than what we currently have and deposit $50,000 into it.  Mr. Papp seconded the motion and it was carried unanimously.

Mike reported that our books have never been audited and suggests that it is prudent for us to have one conducted.  A comprehensive audit would cost $5-10K.  Mike recommended we have a review conducted as opposed to a complete audit.  Mr. Papp made the motion to secure bids for the 1, 3, and 5-year review of our books.  Ms. Lausa seconded and the motion was carried.  Mr. Grant & Mr. Papp will obtain bids and interview for this project.  The Board recommends we secure these bids within the next 30 days, and as we secure these bids, we are also to ask for a recommendation on the frequency with which to conduct these reviews, in order to meet KIOWA act governing rules for audit.

Ms. Lausa raised concern over her frequently incorrect billing statements and how this may have an impact on the audit of our books.  Mike clarifies that her billing errors pertain to her rental unit status, as opposed to homeowner’s association billing, and that the two do not overlap.

Mr. Grant asks for clarification of the Dues Receivables.  Mike points out that Units 2806 and 2812 are for sale at this time, and a letter regarding outstanding monies owed needs to get sent out.  He also states that he has added both moderate income and storage shed rentals to this receivables account.

V.                 Old Business

A.     Touch-up Staining

Mike informs us that touch-up staining has been completed on Buildings 4, 5, 6, and 7, along with the spa deck and railings and south facing doors.  He indicated that the service provider needs to come back and complete that storage shed in the cul-de-sac.  Mike also informed us that the spa changing room has been painted.  Mr. Grant requested a quote for staining the flat portion of the decks for Buildings 4-7.

B.  Fence Project and Staining

Barbed wire has been removed and 3-rail split rail fencing has been installed and stained at the end of the cul-de-sac.  Ms. Lausa mentioned that barbed wire and debris remain in this newly fenced area.  Mr. Constantine (“Phil”) advised he will address this situation.  Mrs. Lausa mentioned one of the rails is bowed badly and needs replacing. This will also get addressed.  It was also agreed this new fencing needs to get added to the SRV long-term staining plan.

C.  Lighting

72 new light fixtures are in the process of getting installed on the property.  These include a photocell sensor for automatic turn on and off.  A problem is acknowledged, whereby these fixture are getting installed at an angle.  A solution has been identified.  Installation has ceased in order to retrofit and solve this problem and get back on track with completing this project. 

D. Kickplates

Kickplates have been installed on all doors.  Unit 2815 needs to be replaced.

E.      Bus Transportation Costs for 2002-2003

The Board agreed to approach Jay Winters as soon as possible and begin the negotiation process for bus transportation costs for the 2002-2003 season.  Mr. Papp motioned that we have Mike proactively approach Jay with our transportation budget.  Ms. McDonald seconded that the motion was carried unanimously.

F.      Home Sweet Home

Home Sweet Home is the contractor that provides both winter and summer services to SRV, such as snow removal and lawn mowing.  Our current contract does not discuss specific deliverables and as such, areas of quality workmanship have suffered.  All agreed Home Sweet Home is a contractor we wish to have continue serving our HOA needs.  Therefore, Ms. McDonald motioned and Mr. Papp seconded that we establish a new contract with Home Sweet Home and empower Ms. Lausa to develop a specific list of accountabilities that will be included as part of that contract.  The motion carried unanimously.  Board members agreed to work with Ms. Lausa on developing this list.

G.     Window Washing

Window washing has not been done due to fires, ash and dust.  Mr. Papp motioned to have windows washed in September timeframe.  Ms. Lausa seconded.  Ms. McDonald expressed disagreement with doing this due to current drought conditions.  Phil pointed out that the contractor will point out other problems he finds during the window washing service.  The motion carried 3-1.

H.     Watering

Concern was expressed over the amount of watering taking place, as well as the time of day this was taking place.  Mike and Phil plan to install top-of-line sprinklers and timers to minimize this concern.

VI.              New Business

A.     Landscape Committee

Ms. Lausa had done some extensive research into landscaping using native plants.  She documented her findings in a letter to the Board back in June.  This letter was reviewed and discussed.  As a result, the Board recommended Ms. Lausa accept a leadership positon as Chairperson of the Landscape Committee and drive the overall short and long range plan for SRV landscaping.

B. Trash around Dumpster

Ms. McDonald raised concerns about rental property cleaning crews leaving garbage on the ground by the dumpster, as opposed to placing it in the dumpster.  Mike agreed to follow up on this.

C.  Concrete Problems

Mike brings up serious concern about concrete continuing to deteriorate around the buildings.  He recommended we investigate concrete sealer products and undertake this as a major project for 2003.

D.     Working with Key to the Rockies

The Board requested that Mike Prepare his proposal for managing Snake River Village for the next 1-3 years.

VII.            Adjourn

Meeting was adjourned at 11:30 pm.  The Board conducted a walkthrough of the SRV property and noted immediate landscaping needs.  In particular, shrub roses will get planted along the new split rail fencing and other landscaping will be done at the end of Building 4.

Respectfully Submitted,

Jackie McDonald

Secretary

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