SNAKE RIVER VILLAGE

TELECONFERENCE BOARD MEETING

DECEMBER 1, 2004

PERSONS PRESENT:

MIKE MAGLIOCCHETTI – Property Manager

ANDREA SONDERFAN - Accountant

STACEY HARRIS - Accountant

MEMBERS PRESENT:

CHARLIE PAPP

MEMBERS PRESENT BY PHONE:

RICHARD GRANT

JEFF ZALKIND

JOHN GARDNER

The meeting was called to order @ 7:08 P.M.

Financial Report

Andrea stated that even though some accounts are unfavorable to the budget the bottom line is close to budget since the association has not been paying for transportation charges to Vail Resorts.  Mr. Grant stated that the association is way over budget in the repairs and maintenance.  He also stated that the amount was above and beyond what the association talked about in February.  He would like the association as well as the management company to be more frugal with the spending on projects in 2005.  Andrea stated that the accounts that are over budget are repair and maintenance, trash removal, and landscaping.  The reason for the trash removal being over budget was due to extra pick-ups.  She then stated that the charges for the miscellaneous account are for the mailbox in the spa area, and the batteries.

REPAIR & MAINTENANCE:

Mike suggested that many of the repair and maintenance expenses would be non-recurring for the next fiscal year. Next Mike reviewed some of the repair and maintenance projects that were undertaken in 2004.

1)      New Gutters & Down Spouts

2)      Concrete pads were installed and replaced throughout the project.

3)      January & July- South Park cleaned the windows, roof, and snow removal. 

4)      Power-washing the Driveways & Posts @ the Spa

5)      Porch lights were installed throughout the project.

6)       Replaced two warped stair stringers- 2 @ $500.00 each for the #2 Building

Transportation

Mr. Grant said that he believes that Vail Resorts will only provide their transportation service to HOA’s whom Vail Resorts manage, and that all others have to pay. Mr. Grant informed the members that the lawyers will more than likely have recovery of the transportation fees paid in the past, including an 8% interest charge, lawyer’s fees, and any back funds. He noted that Gateway was one association involved in a legal action as well as three other associations.  Mr. Grant also stated that he told Mr. Gary Miller if enough associations joined in the suit that Snake River Village would too.  Next Mike explained that the service agreement for the transportation would be $150.00 per bedroom per year to use the service. Mike stated if you use the service you pay, if you do not use the service then you do not pay.  The board does not intend to budget money in 2005 for transportation.  Mr. Grant then asked if the bus stop was still there in front of Snake River Village.  Mike informed the members that it was, but will likely be removed.  Mike explained that with the loss of transportation, is a loss of an amenity to the tenants and renters of Snake River Village.  Mike received an e-mail from the new president at Soda Springs concerning the transportation lawsuit as well. 

BUDGET 2005:

Andrea stated the common area custodial would stay the same but we would increase the repair and maintenance.  Mike then submitted to the members a proposed a 2% management fee increase for 2005.  This makes the average increase 1-% for the last two years.  Andrea stated that the budget for landscaping and trash removal would both increase in 2005. Andrea explained that we increased the trash removal pick-ups to twice a week for the Peak Season as well as for July & August. Also the cable is increasing by 5% for 2005 per Comcast.  The annual cable fees are changing from $1171.57 per month to $1230.00 per month.  Xcel is also expecting an increase in the gas portion of the energy bill by 25%. Mr. Grant suggested that we move $1000.00 from landscaping projects, as well as moving $750.00 from the miscellaneous account to the repair and maintenance account for the 2005 budget.  Thus, adding an additional $1750.00 to the repair and maintenance account.  Despite the increase in several expense accounts, there is no increase expected in the dues structure for 2005.   Andrea explained that the reason for the budget remaining the same was due to the deletion of the transportation payments to Vail Resorts Inc.  Mr. Grant stated he does not want to budget any funds for transportation.  Jeff moved to pass the budget for 2005.  Charlie seconded and the motion passed unanimously. 

DUES SCHEDULE:

It was decided that the dues schedule would remain the same for the 2005 year.

RESERVE PROJECTS:

 Landscaping- A new planted area was added in the center of the property across from the dumpster. Also, irrigation was added in the rectangular areas.  Rocks, stones, plants, perennials, and spruce trees were purchased and installed to enhance the appearance of the property.  A total of six spruces were purchased.  There were upgrades to the pool.  The concrete pads were repaired and sealed or replaced if needed.  Buildings 1-3 were stained as well as the dumpsters and sheds.  Mr. Grant asked if the board was overall happy with the staining work that was done.  Mike and Charlie agreed that they were happy with the work.  Mike stated that a lot of caulking work needs to be done, and that some areas of the wood had turned black where the moisture collects.  The installation of six wall hydrant hose bibs between the buildings took place this year.  The association purchased a power washer and repaired a foundation drain adjacent to 2818.  The failed heat tape was replaced throughout the property.  Asphalt patching was conducted throughout the property and several units.  The parking areas were swept.  It was brought to the attention of the board members that Mr. Knappmiller was not happy with the work that Sinrom completed in his unit.  He is also still experiencing a lack of water pressure in his unit.  Charlie stated that he was aware of this problem and was working towards a resolution.  One suggestion was to have the irrigation system run on a timer.  Mike also stated that he had a plumber check out the Knappmiller’s property as well.

PRESIDENT’S REPORT:

Charlie stated that Karen Lausa and Mr. Grant’s terms were up for election.  Charlie stated that he wants to give Andrea Sonderfan a $100.00 merit bonus, and a $25.00 merit bonus to Mike Ritzman.  The board members approved the bonuses.  Charlie stated that the annual meeting is scheduled for January 30^th 2005. 

OPEN DISCUSSION:

There was a brief discussion about the platted land behind Snake River Village.  The land consists of 4.265 acres. It was stated that Intrawest wants to buy the land for 24 million dollars. There were some concerns if this land is developed.  One concern is continued access to River Run if the land is developed.  They are also concerned about the retention pond and possible drainage issues that could arise with a re-development at the property.  

Mike stated that Camp Fire expressed interest in installing an electronic gate between the Snake River Village and Camp Fire property to keep traffic down.  This cannot happen because the road has to allow access to the fire department trucks.  Mr. Grant said that he was glad to have three guys that are staying informed about this project.

 There being no further business to discuss, the meeting was adjourned @ 8:14 P.M.

Respectfully submitted,

Stacey L. Harris

Key To The Rockies

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