SADDLE RIDGE ESTATES ASSOCIATION, LTD.

P.O. BOX 443

PORTAGE, WI 53901-0443

www.saddleridgeestates.net
608-742-6850


SREA Board of Directors Meeting

July 20, 2010, 6:00 p.m.

Location: Bidwell Room, Portage Public Library

Present: Miles Oakey, Micki Fuerst, John Prest, Joe Duesler, Roger Lochner, SarahMautz

Absent: Tom Thompson

Guests: Floyd Loomis, SREA bookkeeper – Unit 6024; Tom and Barb Steinhaus – Unit 6035

Meeting called to order at 6:00 p.m. by president, Miles Oakey.

Secretary’s Report (Sarah Mautz): Copies of June10,2010 minutes furnished. Motion made by Joe Duesler and seconded by Roger Lochner to approve the June meeting minutes. Motion passed60.

Treasurer’s Report (Micki Fuerst): Copies of proposed FY2011 budget furnished. Discussion. Motion made by Miles Oakey and seconded by Joe Duesler to approve the 2011 budget. Motion passed60.

Copies of July2010 balance sheet, income statement, and yeartodate budgeted reserve account report furnished. Discussion. Motion made by Miles Oakey and seconded by Joe Duesler to approve treasurer’s report. Motion passed60.

The board approved to continue with State Farm Insurance. Building Replacement Coverage was increased. This resulted in a 1.7% increase in the premium.

Updates on attorney input for establishing policy for collection of unpaid monthly dues at 60days past due discussed. Attorney recommended that SRE have all landlords execute an assignment of rents which refers to sec.708.11, Wis. Stats. (thus incorporating the terms and limitations in the law) and record that assignment. If the landlord/unit owner goes into default on payments of maintenance fees, give notice to the tenant and offset the delinquencies against the rent payments received.

Buildings and Grounds Report (Joe Duesler): Units 6017 to 6035 cul-de-sac are in need of repairs to concrete aprons, sidewalks and stoops. Unit 6035 owners, Tom and Barb Steinhaus, attended this meeting to clarify the work request they submitted for such repairs. Estimate of $2,000 received from Hurd Masonry.

Court 1: Alliant Energy is installing a meter on the back of quad 109-112. More water remediation work being done now with capacity to include rainwater drainage from quad 105-108 in the future.

A small hole on gutter on Unit 102 was repaired.

Rubber porch roofs on 4-units (buildings501 and 113): Roofs are being replaced because of water leakage (rain/snow). 4 done, 4 to do. $1600 added to order for roof tear-offs.

Unit 604: Joe Duesler will write letter to unit order addressing replacement/repair of deteriorating porch.

Letter sent to unit415 regarding privacy fence.

Concrete aprons at unit 505 and unit 506 completed.

Work request received from unit 6010 to: 1) apply cosmetic stone veneer, a brick façade; 2) replace deck boards; 3) plant a tree.

Unit 632 experiencing water and mold in basement, caused by a crack in the foundation. Evaluation work in progress.

Unit 621: Roof leak repairs are in progress.

Unit 511 requests branches on white pine tree to be trimmed 10-12 feet high. Joe and Miles will take a look at the tree.

Received letter from Unit 102 regarding water in basement. Joe D. will write response.

Signage: Realtors and unit owners are cooperating with placing signs within specified areas and limiting numbers of signs according to SREA guidelines.

Two Rivers Signs and Designs of Portage is putting together $1,000 to $1,200 groups of signs that could be installed incrementally over the next 3 months in order to complete the directional signage work before winter.

Chimney inspection letters will be prepared and sent out before October.

Utilities Report: Miles presented lift station update. Will authorize Jerry Foellmi, of General Engineering, to proceed with his recommendation of magnetic flow meter as the long-term replacement option, as stated in his email correspondence. Cost approximately $10,100.

Joint Road Committee Report: Tom Thompson represents SREA on the Saddle Ridge Joint Roads Committee. Although unable to attend tonight’s meeting, Tom gave Joe Duesler a packet of information for Miles Oakey.

Roads Report (John Prest): Miles authorized John to proceed with the patch in Court5 at the cost of $9,052.

President’s Report (Miles Oakey): Annual meeting notice preparation discussed. Miles has prepared the notice and agenda, the proxy, and will work on president’s letter. Miles, Micki, and Sarah will meet to work out details of this mailing.

Floyd Loomis, Guest: Unit Owner 6018 would like an update on when the painting job will be completed. Unit 6020 has a dying oak tree behind their house. Joe Duesler will do a follow-up on this.

Next Scheduled Meeting: Tuesday, August 17, 2010, 6:00, Portage Public Library.

Adjournment: Meeting adjourned at 8:15p.m.

Respectfully Submitted,

Sarah Mautz, Secretary, SREA Board of Directors

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