Arbor Pointe Condominium Association

April Board Meeting Minutes, Arbor Pointe

Board of Directors Meeting Minutes

ARBOR POINTE CONDOMINIUM ASSOCIATION, INC.

BOARD OF DIRECTORS MEETING MINUTES

MARCH 13, 2002


CALL TO ORDER

The meeting was called to order at 7:05 p.m. Board members in attendance were Lisa Probasco, Bob Spada and Leticia DeLeon. In attendance for Management Specialists, Inc. was Lisa Abbott.

OPEN FORUM

There were two homeowners present for Open Forum. The homeowners that were present had no complaints or questions at this time. They were in attendance to listen to the business of the Board.

APPROVAL OF PREVIOUS MINUTES

The February 13, 2002 minutes were approved as written.

MANAGER’S REPORT

Financials – Lisa presented the February 2002 financial statements to the Board. She reviewed the cash flow and explained that there had been no outstanding expenditures during the month of February. She also explained to the Board and the homeowners present that the beginning cash balance as of February 1, 2002 was $16,877.19. The Association received assessments in the amount of $18,142.80, and expenses were $18,591.37, which left the Association with an ending cash balance of $16,428.62. She also explained to the Board that there had been a substantial contribution to the reserve account in the amount of $10,891. There was one reserve expenditure during the month of February for $16,899.86. It was for the final contract payments on the stairway replacement; and some concrete work that had been done throughout the community. With that expenditure, it left the Association with an ending cash balance in that reserve account of $28,930.84.

Covenant Violations – Lisa stated that the covenant violations are at a minimum at this time.

ACC Requests – There were no ACC requests at this time.

Grounds – Lisa informed the Board that she had received a call from Urban Farmer stating that they had begun their evaluation of the sprinkler before the final turn on in April. They had come across some damage done where the new concrete sidewalk had been installed at the 5690 Building. They were currently in the process of repairing that. She stated to the Board that Urban Farmer would keep her updated on all sprinkler repairs that occur in the community.



Siding Claim – Lisa informed the Board that they should be receiving their settlement in the next 6 to 9 months. The Board requested that Lisa contact Boschert Merrifield Consultants and inquire what the expected settlement to the Association will be.

Gutters, Repairs and Cleaning - Lisa informed the Board that the roof and gutters guys will be out as soon as weather is permitting to evaluate all gutters throughout the community and give a list of proposed repairs.

Patio Repairs - This item has been tabled until the spring.

Stairway Replacement - Lisa informed the Board that her and Lisa Probasco had walked the community with Benny from By Benny regarding additional repairs to the stairways that were needed. At this time the contract that was accepted last year in 2001 was completed. He informed the Board that there are three to four additional stairways that will need to be replaced. The Board will discuss this further at their April meeting.

Parking Lot Lighting – Lisa presented the Board with bids for parking lot lighting from Radiant Lighting and Lookout Maintenance. After discussion the Board determined that they would like Lisa to contact Lookout Maintenance to verify that the amount of the bid is including everything that they had requested, and if so, the Board choose to go with Lookout to replace the lighting in the upcoming months.

Trash Enclosure – The Board reviewed bids from PBM and Lookout for trash enclosure replacement. After discussion the Board accepted the Bid from Lookout Renovation Company to replace the trash enclosure near the 5550 Building. The Board would like this work to begin as soon as possible.

Painting of the Buildings – The Board will be tabling this issue until mid-summer when funds in the reserve account are built back up again.

NEW BUSINESS

Collection Policy – Lisa presented the Board with a sample collection policy from Orten and Hindman and explained the need the Association had for a policy of this nature. After discussion the Board chose to pay the fee for Orten and Hindman to prepare them a collection policy.

Rules and Regulations – Lisa stated to the Board that she will e-mail all Board members sample copies of rules and regulations for their review, and they can begin the process of updating their rules and regulations.

Annual Flowers and Shrubs – This item was tabled until the April meeting.

Insurance quote from Talty Insurance - Lisa presented the Board with a quote from Talty Insurance. She explained that Pat Wilderotter from Talty Insurance had came in reviewed Arbor Pointe’s insurance and determined that their buildings were underinsured at the time and proposed from a cost analyst a new insurance quote. The cost of insurance will be increased to $2,277.00 per year, and after discussion the Board chose unanimously to use Traveler’s Insurance as the Association’s Insurance.

Management Contract – After discussion regarding the management contract all Board members unanimously agreed that they would accept the contract. Lisa Probasco pointed out that if at any time they wanted to get out of the management contract, there was a clause requiring 60 days’ notice. All members of the Board were in agreement with this and the contract was accepted and signed.

Pet Pickup – The Board requested that Lisa obtain prices for pet pickup stands and bags.

Landing Repairs –During the walk-through Lisa Probasco and Lisa Abbott conducted with By Benny, Benny pointed out numerous landings that are in need of repair. There are areas where the railings are rusted through. Benny quoted a price that would not exceed $1,000.00. After discussion, the Board determined they would like Benny to do all repairs. There are also several landings in need of concrete work. The Board directed Lisa to obtain bids for these items.

SIGNING OF CHECKS AND INVOICE SUMMARY

All invoices were approved and checks were signed.

NEXT MEETING DATE AND TIME

The next meeting will be April 10, 2002 at 7:00 p.m.

ADJOURNMENT

With no further business to discuss, the meeting was adjourned at 8:30 p.m.


/amh