RECORD OF PROCEEDINGS

FAIRWAY 16 HOA BOARD OF DIRECTORS MEETING

November 10, 2016

The regular meeting of the Fairway 16 Board of Directors was held at the Association Clubhouse on S. Vaughn Way in Aurora, CO. Directors were present as indicated below:

Karen Peters / Present / Bette Secord / Present
Laurie Travis / Absent / Marian Ballins / Absent
Barry McConnell / Present / Roger Mitchell – CAM / Present

Executive Session

The Board met in executive session to discuss legal matters and collection activities before the General Meeting.

No homeowners were present.

Call to Order President Peters called the meeting to order at 6:30 pm and declared a quorum present.

Homeowner Comments

  • None at this time

Approval of Minutes The minutes of the meeting held October 2016 were approved as presented on a motion by Barryand seconded by Bette.

Financial Reports The Managing Agent reviewed the October 2016 financial reports.

  • Ending balance of the Operating Account was $7,146, Reserves were $932,351.
  • Disbursements during the month were $48,048.
  • Delinquencies were $8,338. Two accounts are at the attorneys for collection. One will be collected at the closing of the sale on November 15th.

Property Manager Report

The Managers Report was reviewed and is included in the Unfinished Business/New Business of the minutes.

Unfinished Business

  • The Small Project List – The list was discussed.
  • Pool Deck Caulking – Completed
  • Asphalt Mill and Overlay – Included in the report was acomparison of all the proposals

Asphalt Mill and Overlay comparisons
Economy comb / Loya comb
Brown Brothers 2 " / Economy 6 " / Leadens 6" / Perfect Patch 6" / 6 " and 2" / 4 " and 2 "
$234,092.00 / $593,019.00 / $794,714.00 / $531,670.00 / $345,716.00 / $240,107.00

After discussion and review, Barry made a motion and Bette seconded to approve the Loya proposal for $240,107. The motion carried. Project to be scheduled in the Spring of 2017

  • Concrete Survey of Driveways and Sidewalks– Included was one proposal from Leadens for $74,046. The Board decided to wait for more proposals before making a decision.
  • FHA Approval – The Manager reported that the FHA approval contractor had all of the information they needed and the approval should be forthcoming.
  • Gutter Cleaning – After discussion The Board approved the Aspen Window proposal for $3,600. The Manager will contact them to get it scheduled.
  • Budget 2017 – After discussion and reviewing of each line item, Barry made a motion and Bette seconded to approve the revised budget. The motion carried.

New Business

  • Roof Proposal and Assessment – Barry acquired and included in the report a proposal and assessment from Weather Sure for Roof, Gutter and Downspout replacement for $1,020,791. After discussion and review of the proposal and the Reserve Budget, the Board decided to table this issue until the 1st quarter of 2017.

Adjourn There being no further business to conduct, the meeting was declared adjourned at 7:35 pm. The next meeting is scheduled for Thursday, December 8, 2016 at 6:30 pm in the clubhouse or at such other place and time as is determined.

Respectfully submitted,

Roger Mitchell CPM, CAM, Acting Secretary