Arbor Pointe Condominium Association

February Board Meeting Minutes Arbor Pointe

Arbor Pointe Board of Directors Meeting February 13, 2002

CALL TO ORDER

The meeting was called to order at 6:00 p.m. Board members in attendance were Lisa Probasco, Laura Caron, Bob Spada and Leticia DeLeon. In attendance for Management Specialists, Inc. was Lisa Abbott.

OPEN FORUM

There were no homeowners present for Open Forum.

APPROVAL OF PREVIOUS MINUTES

The minutes were approved as written.

MANAGER’S REPORT

Financials – Lisa presented the January 2002 financials. She reviewed the cash flow and explained that there had been no outstanding expenditures in the month of January. She also explained that $15,832.30 was brought in from assessments and $15,211.76 was paid out in expenses, which left the Association with an ending cash balance of $16,877.19.

Delinquencies – Lisa reviewed the delinquency report with the Board, stating that all the delinquent homeowners that have made payment plans with the Association’s attorneys were fulfilling their obligations and she also informed the Board that one of the homeowners that was in foreclosure was inquiring about payoff numbers to payoff his assessment account.

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 Dan from Urban Farmer had phoned and apologized; that he had misplaced the work order to place the sand barrels in the retaining areas at all the buildings and that he would have them out there as soon as possible. Otherwise, the grounds are in good condition and snow removal is being done adequately.

OLD BUSINESS

Siding Claim – Boschert Merrifield Consultants – Lisa informed the Board there were no new developments in the siding claim and she would keep them updated as things arose.
Gutter Repairs and Cleaning – Lisa informed the Board that all gutters have been cleaned and all repairs have been made.

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

Stairway Replacement – Lisa informed the Board that Benny had installed three (3) sets of stairs and another one was waiting for the stringers to be installed and as soon as he received the completed stringers he would install the final four staircases.

Parking Lot Lighting – Lisa explained to the Board that she is still in the process of obtaining bids for the parking lot lighting. She also explained to the Board that she had budgeted this for their fiscal year 2003 expenditure due to the cost of the lighting.

FY2003 Budget – Lisa presented the Board with an initial proposal for the full year 2003 budget. She explained to the Board that there was no assessment increase this year and line-by-line went through each item on the budget explaining to the Board what the increases were for; increases in each expenditure amount and also what reserve expenditures should be done in FY2003. After Discussion the FY2003 budget was unanimously approved.

Trash Enclosures – Lisa presented the Board with two (2) bids for trash enclosures; one from LookOut Renovation Company and the other from PBM. She is currently awaiting a third bid from Palace Construction. After discussion, the Board decided that they would like to receive the bid from Palace Construction and make a decision at that time. They requested that when Lisa receives that bid that she e-mail the entire Board and the Board will make a decision at that time.

Painting of the Buildings – After the presentation from Jennifer from Kwal Paint, the Board decided that they would like to have the buildings painted in a gray tone with a lighter colored trim; that they would look through neighborhoods and find a color that they liked. They chose two (2) colors at this time and they are going to re-evaluate the colors at the next regular Board meeting.

Special Meeting – After discussion, the Board decided that Lisa would attend the Special Meeting until the final session of the meeting, when the Board would request her to leave so that homeowners could feel free to state their disappointment about either her or Management Specialists, Inc.

REVIEW OF INVOICES/SIGNING OF CHECKS

All invoices were approved and checks were signed.

NEXT MEETING DATE AND TIME

The next meeting will be an informational meeting on February 20th at 7:00 p.m. The next regular Board meeting will be on March 13th, 2002, at 7:00 p.m.

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