Meeting Minutes/Agenda

Treetops North Estates Condominium Association Annual Meeting

August 30, 2008

Meeting Name: / Treetops North Condo Association Annual Meeting
Scribe: / Deb Hart
Facilitator: / Ed Montgomery
Date: / 08/30/2008
Time: / 9:00 AM – 10:45 AM
Location: / North Pro Shop Meeting Room

Invitees/Attendees

Unit # / First Name / Last Name / Attended Meeting / Proxy / Shares / Aug 30 Votes /
1A / Tom / Wilson / No / 1
1B-Co / Joseph & Linda / Palazetti / No
1B-Co / Fred / Schaard / Yes / 1 / 1
1C-Co / Bill & Susan / Luther / No / 1
1C-Co / Phil & Elyse / Trupiano / No
1D / Richard & Bev / Sheehan / Yes / (did not vote) / 1 / 0
1E / Kyoo-Bon & Soon-Ja / Cho-Victor / No / 1
2A / Gerald & Jeanne / Elson-Lance / Yes / 1 / 1
2B / Edward & Gail / Montgomery / Yes / 1 / 1
2C / Daniel / Wach / No / Montgomery / 1 / 1
2D / David / James / No / 1
2E / Kevin & Nancy / Overlock / No / 1
3A / Chris / Melling-Krantz / No / Hart / 1 / 1
3B / Ron & Nancy / Smith / Yes / 1 / 1
3C / James & Nancy / Colbert / No / 1
3D / Richard & Jane / Pearsall / No / Hart / 1 / 1
3E / Randy & Peggy / Liepa / No / Montgomery / 1 / 1
4A / Rick & Victoria / Constantini / No / Hart / 1 / 1
4B / Ed & Jackie / Westerhoff / No / Valleskey / 1 / 1
4C / Ken & Mary Ann / Demski / Yes / 1 / 1
5A / Anthony / Girgenti / No
5A-Co / David / James / No / 1
5B / Bob & Deb / Hart / Yes / 1 / 1
5C / No / 1
5D / Edward & Carol / May / No / 1
5E / Andy & Jill / Smith / No / 1
5F / Bill & Judy / Lewis / Yes / 1 / 1
7A / Jeffrey / Lawley / No / 1
7B / Thomas & Paulette / Valleskey / Yes / 1 / 1
7C / Carlo & Patty / Ciaramitaro / Yes / 1 / 1
7D / Mike / Heath / Yes / 1 / 1
8A / Jim & Lori / Queen / No / 1
8B / Chuck & Darlene / French / No / Montgomery / 1 / 1
8C / Ron & Bridget / Larson / No / 1
8D / Mark & Diane / Krintzman / Yes / 1 / 1
8E / Ron & Janice / Waring / No / Hart / 1 / 1
Total Owners / 33
Number of owners in attendance / 18 / Number of proxy votes / 8 / Number of voting shares in attendance / 11 / Total Votes: 19

Agenda

Item
No. / Time / Subject / Presenter
1 / 9:00 AM / Capital Projects Update
·  Deck Repairs
·  Painting of Buildings
·  Plan for 2009 / Ed Montgomery
2 / 9:15 AM / Operating Budget - Financial Update / Tom Valleskey
3 / 9:30 AM / Miscellaneous Discussion items
·  Pool
·  Spring/Fall maintenance
·  Resort update
·  Change in weekend for next year’s meeting / Ed Montgomery
4 / 10:00 AM / Election of Officers / All
5 / 10:15 AM / Open Discussion / All
6 / 10:45 AM / Adjourn
7 / 11:30 AM - ? / Shotgun Start - Golf Outing on the Tradition / All

Topics

Subject / Main Points, Conclusions/Discussions, Decisions, Next Steps /
Capital Projects Update / Meeting was convened at 9:11 AM
Ed Montgomery reported the following progress on the capital projects, which were funded by the special assessment in July:
·  The remaining decks (6) were repaired for a cost of approximately $30,000. New rubber flashing was applied to each deck in order to direct the water flow away from the walls. It is designed to eliminate future water damage.
·  Building 4 was painted.
·  Building 3 painting will begin on Monday, September 8.
·  Other minor capital expenditures include:
o  Repair of the gas line into Building 4
o  Testing new water diversion techniques from the upper units to reduce wear on the lower decks.
·  Plans for 2009
o  Paint three (3) remaining buildings 5, 7 and 8
o  As previously approved, there will be an additional assessment to complete the 2009 projects. The cost for painting each building is approximately $30,000.
In this first painting of the buildings, the association paid for the sheds and garages. When the buildings are painted in the future, the association will be billing the individual owners for the painting of the garages and sheds. Not all buildings have sheds and/or garages. For example, building 7 owners do not have storage sheds.
Ed Montgomery also noted that TLC, the lawn care vendor, is doing a great job with the lawn and landscape maintenance.
The question was also asked if TLC is still cleaning the snow off the decks in the winter. The answer is yes. TLC clears the decks for all units. However, there is still at times a build-up of ice on the upper decks because of the melting and re-freezing.
Operating Budget – Financial Update / For current financial information, see the Treetops North Estates Association web site http://webpages.charter.net/tneca/. If you need the password for certain files, please contact one of the Board members. Helpful hint: the name of one of our favorite courses.
Tom Valleskey, Treasurer handed out the operating budget and balance sheet and highlighted the following:
·  The association appreciates those owners who pay early!
·  The association has $34,750 in cash
·  Liabilities – Only liability remaining is for Building Insurance. The insurance company has agreed to quarterly payments with no surcharge.
·  1st quarter – Expenses were over budget due to repair of the gas line
·  2nd quarter - Expenses were slightly under budget due to the agreement worked. out with Treetops for the pool opening expenses. This helped fund expenditures related to rust removal, heat tape fixes, roof repairs in building 3 and repairing and painting the doors on the fences surrounding the propane tanks.
·  3rd and 4th quarter – should have a small excess
Issues:
·  Currently, over $7,000 is owed to the association for delinquent dues and special assessments. There is a potential for a $10,000 shortfall in revenues.
·  One unit has been foreclosed on and is owned by the bank. We are not sure if we are going to be able to collect the assessment and ongoing dues any time soon. A lien has been filed against the unit. We are not sure if the bank may put the unit into rental. We may pursue hiring an attorney to collect the funds owed.
·  Two other units are in arrears. One unit is in rental and we are asking Treetops to send us the excess rental income. This is allowed in our by-laws. The second unit is not in rental and we will be withdrawing services for that unit (ie. Not paying for cable)
·  If any of the units have their utilities turned off due to non payment, we will need to investigate turning off the water for the winter, in order to minimize any damage due to freezing pipes.
The Board is reviewing ways to reduce expenses and will be looking at changing the garbage pick up for the winter months from once per week to once per month. The other item that was discussed was to have the owners pay their own cable. However, this is not a reduction in cost to the owners, but the association only.
Compensation fore the Board
·  The question was asked about what compensation, if any, that the Board receives for their services. The Board receives 2 additional free players for the owner’s tournament. The Board was congratulated on a job well done.
Property Manager –
·  The question was asked about hiring a property manager to handle certain functions that the Board currently performs. The Board briefly investigated the use of a property manager, however, the cost looked prohibitive. In the future, the suggestion was made that the association could pay for select services that require a substantial amount of time.
·  The association is utilizing Erv Grody as a pseudo property manager. Erv handles repair requests for the association and coordinates the major capital projects
Miscellaneous Discussion Items / Pool
A show of hands was requested as to how many people have used the pool this year. About 80% of the people in the room responded yes.
The current status of the pool is as follows:
·  The association has not taken ownership of the pool from Treetops. Treetops has attempted to convey ownership to us.
·  The association does not have an operating agreement with Treetops. The association currently pays operating expenses such as cleaning, chemicals (EcoLab), electricity and propane for heating the pools and spas.
·  The association splits the operating costs 80/20 with the Tradition Association
·  This past spring, the association requested that Treetops open the pool and pay for the capital repairs needed for the pool and spa. Treetops did open the pool and paid for the repairs for the heater and pumps.
·  The pool is scheduled to close the week of September 8.
Ed Montgomery presented the concerns regarding funding required for the pool:
·  The mechanical room requires additional ventilation in order to not cause further damage to the pumps and heaters
·  The spa jets are not working.
·  The cement needs repair or an overlay
·  The building needs painting
·  Eventually the pool and spa liners will need to be replaced.
·  These repairs will require a large capital outlay
There was considerable discussion regarding funding for the repairs and whether we should continue funding for the pools:
·  Most believe that Treetops needs the pool as a resort amenity
·  With 1/3 of the units for sale, the pool is viewed as an asset and should not be in dis-repair.
·  Keep the pool open from Memorial Day to Labor Day only
·  Delay painting of one of the buildings for repair of the pool.
·  If we are not going to fund repairs, then dig the pool up
Generally the consensus was that the pool is an asset and needs to be maintained and the following recommendations were made by the owners present:
·  Negotiate a shared responsibility with Treetops to fund repairs for the pool. Note: a specific percentage was recommended by the owners.
·  Obtain an estimate of what it would take to bring the pool back into full working order and aesthetically pleasing, including fixing the ventilation issue.
·  Make the transfer of ownership dependant on Treetops providing funding for a percent of the ongoing and future operating and capital repair costs.
Spring/Fall Maintenance
A show of hands was requested to see who had utilized Northpointe for spring maintenance. 4 owners responded that they utilized Northpointe. All were satisfied with the results.
The association will contact Northpointe and arrange for fall maintenance and confirm the price and services to be provided. An email will be sent out when arrangements have been made. As with the spring maintenance, the association will not be involved with scheduling or billing of the maintenance.
A suggestion was made that if air conditioning units were being replaced that higher capacity units are needed than what is currently in place for the 3 bedroom units.
Resort Update
We did not ask Mike Fernandez to give us a formal update this year. Informally the following was reported by those in attendance:
·  Rick Smith is working with investors to infuse approximately $40 million into the resort to update the hotels and add activities at Windows including a skeet shooting range
·  Rick Smith is also working on securing a sponsor for the Par 3 shoot-out
Change in weekend for next year’s meeting.
Some of the owners and the resort, as well, would like to see a change in the weekend of the owner’s meeting. The following weekends were suggested:
·  The first weekend after Labor Day
·  The first weekend in August
·  The second weekend in August
The association will check with the resort and see if those weekends will work and then will send out a survey to the owners to determine a new weekend for the meeting and outing. We will determine the date before the end of the year so that the owners can black that date out for rentals.
A suggestion was also made to play the Fazio instead of the Tradition. We will check with the Golf staff
Election of Board of Directors / Ed Montgomery (2B), Deb Hart (5B) and Tom Valleskey (7B) were nominated by Jerry Elson. The motion was seconded by Mark Kritzman
Motion passed by unanimous vote to elect the following Board of Directors:
Ed Montgomery, President
Tom Valleskey, Treasurer
Deb Hart, Secretary
There were 18 votes represented at the meeting by physical attendance or proxy. A quorum was present. See attendee and proxy list above.
Compensation is $70/year. Owner’s guest fees for the owner’s tournament are free.
Open discussion / Security and lighting – Many of the walk-way lights have burned out bulbs and street lights are out at times or the timers seem to be out of sync. The question was who handles bulb replacement. Many of the owners replace the bulbs in the walkway lights. If you notice a streetlight out, please report to the Board and we will request Treetops to replace it.
It was also requested that Treetops Security report lighting issues to Treetops management when they are patrolling the area. The association will make that request to Mike Fernandez but will not guarantee that the request will be accommodated.
Other items:
Mark Kritzman thanked the Board for the quick response for repairing the entry-way deck at building 8.
The suggestion was made by Jerry Elson to utilize Treetops for any outings. They are very accommodating and will bend over backwards to make it an enjoyable experience.
Web Site
Don’t forget about the Treetops web site http://webpages.charter.net/tneca/. Breaking news, financial statements and other documents are located on the site. If you need the password for certain files, please contact one of the Board members.
Owner’s List
A revised owner’s list is attached.
Meeting was adjourned at 10:35 AM

9/7/2008 7