Document Sample
             Home Owners Association
Board Minutes related to Meeting held June 25, 2011

Quorum reached with the following Board Members in attendance:
      President, Jim Franzen
      Vice-President, Chris Douglas
      Treasurer, Ray Berry
      Secretary, Rick Gorman
      At-large, Murphy Rhodes

Also attending were the Audit Committee (Alice Rhodes and Moe Ghaffari) and home
owner Bruce Williams.

Minutes of Board of Directors Meeting

Agenda topics included:
   1. Treasurer’s Report
   2. President’s Report
   3. Other Business

The meeting was called to order at 10:30AM and the President confirmed a quorum.

A motion was made to accept the minutes of the April 9th meeting. The motion was
seconded and passed by unanimous voice vote.

A motion was made to accept all actions taken by Board members on behalf of the HOA
since the last Board meeting. The motion was seconded and passed by unanimous voice

1) Treasurer’s Report

The Treasurer reported the operating account and reserve account balances are on budget
for the year to date. Receivables include substantial past due amounts for the account of
the declarant including late fees and penalties. Several areas of expenditure are over
budget due to either timing of the expense or accomplishment of necessary activities to
maintain the facility. Areas over budget include: Fire Monitoring, Elevator, Professional
Fees and Repairs.

The Board reviewed potential expenditures related to re-staining of the building exterior.
The initial reserve study anticipated re-staining of one wall per year; however,
deterioration of the stain on the South and West walls of the building require re-staining
of these walls at the same time (as soon as possible). These activities are budgeted in the

reserve study but will be accomplished on a different schedule than anticipated. (2 walls
each 2 years IPO of 1 wall per year) Quotes are being obtained for this work which
should be accomplished before the end of this summer.

Audit Committee Report: The Audit Committee was formed by the Board to conduct an
internal audit of 2010 financial activity as a prelude to deciding whether or not an outside
audit was necessary. We are fortunate to have two homeowners (Alice Rhodes and Moe
Ghaffari), with professional financial planning and audit credentials, who were willing to
volunteer to serve as our Audit Committee. Alice and Moe have worked diligently with
the professional support of Doug Pendergraft of Western Sky Management to
substantially complete the 2010 internal audit review. Although the Audit committee has
not completed work on some details of the audit they have advised that our books for
2010 are reflective of the actual financial condition.*

Motion: A motion was made to accept the Audit Committee findings as offered and to
dispense with the need for an outside audit of the 2010 financial year.
The Motion was seconded and passed by a unanimous voice vote.

*Note: The remaining information required by the Audit Committee will be advised to
the Treasurer who will be the focus for collection of the required data.

2) President’s Report

The President offered an update on the status of our warranty claim and other legal

       The HOA’s attorney has filed a request with the Superior Court for a summary
       judgment related to the First Amendment to the Declarations of Condominium by
       the Declarant. Homeowners may recall the amendment was related to changes in
       use of the facility (commercial use, nightly rental, etc.) which was not properly
       approved by the homeowners. This issue should be heard by the court in July.

       The warranty claim now includes a report on HVAC issues related to inadequate
       heating, ventilation and recirculation. Also related to the warranty claim, further
       study is required regarding structural issues. Our engineering consultants, PET,
       will undertake this study commencing June 27th. All homeowners were notified
       of this work via letter from the HOA attorney.

Additional Storage Units: This project should be approved by the City of Westport soon
which will initiate the construction phase.

Fisherman’s Memorial Flag Illumination: At the Annual Homeowners Meeting,
homeowners C.R. and Rosa Johnson generously offered to fund the installation of a light
fixture on our property meant to illuminate the American Flag on the Fisherman’s
Memorial Monument during hours of darkness. (Normal flag protocol calls for
illumination of any American Flag if flown during hours of darkness.) The project will
be a gift to the City of Westport from The Point HOA. The cost of the project has been
determined and the suggested location of the fixture will be reviewed and approved by
the Board to ensure there are no issues related to annoyance of the adjacent homeowners.

3) Other Business

Rules Committee Recommendations: The Rules Committee has noted several
discrepancies in our rules related to Owners versus those for Renters.
    1) The Rules for Renters forbid skating or skateboarding (in any form) in the
       complex as these activities create a hazard as well as an insurance risk. The
       recommendation is to adopt the same language found in the Rules for Renters to
       the Owners Rules in order to ensure this dangerous activity is not allowed by
       anyone at the facility.
    2) Currently the Rules for Owners preclude smoking in any common area of the
       complex, while the Rules for Renters simply forbid smoking in enclosed common
       areas. It was proposed the Rules for Renters be changed to forbid smoking in any
       common area of the complex. This change would be advised to all rental agents
       to ensure compliance.

Motion: A motion was made to accept the two changes to the rules for owners as well as
the rules for renters to bring them into agreement as indicated above on the subjects of
Skating or Skateboarding and Smoking in the complex. The motion was seconded and
approved by a unanimous voice vote.

Action: The Rules Committee to formulate the required wording changes to the
Owners Rules and Renters Rules and ensure that all owners, and rental agents, are
advised of the changes as soon as possible.

The President adjourned the meeting at 12:15PM.
Rick Gorman, Secretary
June 26, 2011