April Board of Directors Meeting
April 9, 2014
Held at Bob Nibeel’s Office in Irvine at 10:30
I PRELIMINARIES
- Call to order - Greg Robson called the meeting to order at 10:33 AM
- Roll/Quorum - Board Members Present: Greg Robson, Bob Nibeel, Kerry Mogharebi and Rod Curry. A quorum of Board Members was present. A visiting new Bridges owner, Garrett Woodworth, was also in attendance.
II BUSINESS
1. The first order of business was to elect officers for the current term. Greg Robson was elected president; Bob Nibeel vice-president; Kerry Mogharebi secretary; and Ray Mahaffey treasurer.
2. The minutes of the March 4, 2014 meeting were approved as emailed to directors by Bob.
3. The adopting of a budget and reserves was discussed at length.
As of December 31, 2014 the special assessment of $250 will end, but we must balance homeowners dues going forward due to the additional capital costs to cover the town home structural issues. Our reserves have improved, but we will still be underfunded due to the many years of under funding in the past.
We must approve a formal budget by May 31. The suggestion of Greg Robson, in order to comply with state laws, is to keep $100 of the soon to be expiring special assessment, adding a cost of living increase to bring the dues to approximately $700 / month. Our attorney has advised us, at a minimum, to use the Stone Mountain optimal funding number in our budget, and to comply with Davis-Sterling rules.
Rod wanted clarification on the items in the budget that are normal repairs and maintenance, and those that are capital expenses. Kerry suggested that we have the accountant provide us with that breakdown.
In addition, the Reserve Disclosure package and filings must be sent out 30 days before the annual meeting, according to the By Laws.
4. The Rules & Regulations were modified and approved. Item #5 should clarify that BBQ fires are not allowed on T-Unit decks but are allowed only on parking decks, and that they are allowed on the condo decks. Item #10 shall be modified to add that owners and guests must display tags in vehicles. Greg will talk with Max to decide how to handle this task. Also we need to look into the viability of tags or stickers or both. Greg will follow up on this with Kathy Tipton at Mammoth Premier or a printer who can make the tags.
5. Considerable discussion regarding the possible replacement of Dave Baumwohl as association attorney, with varied opinions among the BOD.
6. An Idea was brought up by Garrett Woodworth to have steering committee for condos and one for the T-units, and separate funds for each, to be overseen by one BOD. This was tabled for a later date.
7. It was moved, seconded, and approved to accept the changes to the CC & R's. Mr. Woodworthoffered to compare the draft to the redlined copy and send to the board.
8. Due to urgency of owners getting locked in or out of the spa, Greg approved the cost of a new lock for Max to have installed.
9. It was discussed to create a directory for owners, to facilitate more interaction and community atmosphere. It was suggested to ask homeowners if they would like to be included and send their names and contact info.
10. The cover letter to go out to the owners regarding the revision of the CC & R's and By Laws was reviewed and approved with minor changes. Only the board members will be included to be called with questions. Rod did not wish to be included. Kerry will compose something to add to the letter as an explanation of cumulative voting.
11. Mr. Woodworth offered a suggestion to create a social event in Mammoth during the summer, for example during Lollapalooza in July, and perhaps during the winter as well.
12. Greg proposed and it was approved to set September 9, 2014 as the date for the annual meeting, at Truxton's Restaurant. Notices must be sent out 30 days before meeting.
Meeting adjourned at 1 pm
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Greg Robson, BOD President
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