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Snake River
Village A conference call board meeting of the Snake River Board of Directors was held on Thursday night at 7:00 PM . Board members present were Charlie Papp, Ed Lee, Carl Stiehl, Jeff Zalkind, and Jim Viegas. Also present was Mike Magliocchetti from Key To The Rockies The items discussed were as follows: 1. The associations’ insurance carrier has paid all the expenses associated with the water loss in unit 2805. The owner of this unit, Mr. Robert Meller, will pay the association the $2500 for the deductible but it has not yet been received. 2. Mr. Lee gave a brief update on the progress of the amendments to the Declarations. The legal services of Dan Wolf, an attorney from Vail, have been retained to review the documents. Ed worked out an agreement with Mr. Wolf which will help control the costs of giving an initial opinion on the project. Ed will keep the Board apprised of the progress of this evaluation. 3. Mike reviewed the associations’ statement of operations through the month of May. The Operating Fund has a surplus balance of $9,033 through May which is favorable to the budget for the same period by $16,509 The only account out of line is the Spa Towels by $258 however this is expected to fall closer into line as the summer progresses. There are no serious delinquent accounts. 4. The Reserve Account balance as of May 31st was $194,715. The only expenditure from the account was a $5000 deposit to AV Landscaping for the irrigation installation project. Mike obtained bids from two engineering companies to review and update the assumptions for the Reserve Budget. The Board decided to postpone that project until next year. 5. There has been no response from Mr. Paul Smola, owner of unit 2825 regarding the letter the association sent him back in March asking for his documentation on the compliance of the loft he constructed in the living area of his condo. After some discussion, the Board instructed Mike to draft a second letter to him asking for his compliance in 10 days. If it is not received within that time period the matter will be referred to the Summit County Building Department for the Code Enforcement officer to address. 6. The new street signs have been ordered and will be installed sometime during the month of June. The unit identification numbers have also been modified to comply with the Summit County address records. The unit doors will be sanded and re-varnished sometime during the month of June and will be completed by July 4th. 7. Carl Stiehl instructed Mike to have the windows in his unit repaired or replaced as necessary. Mike will obtain quotes and have this done within the next month. Carl also asked the board to consider lowering the speed bumps in the project and agreed to pay for this modification himself. The board agreed to allow this change. There being no further business to discuss, the meeting was adjourned at approximately 8:30PM Respectfully submitted, Mike Magliocchetti |
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