Board Meeting Minutes 
Holiday Beech Villas Homeowners Association
Meeting Date: January 19, 2008 Meeting Place: Holiday Beech Clubhouse
Beginning Time: 1:30 Ending Time: 4:30

1. Call to Order
Saul called the meeting to order. Board members present: Yvonne Clay, Tom
Jesus Hernandez, Saul Moore, Karen Alexander

2. Recognition of Homeowners

3. Comments from the President/approval of minutes
Welcome back and happy new year. Excited about the new year. Karen and Renee met and now we have an itemized per week statement of expenses going back to 2005 when special assessment was started. Repairs that were do to deferred maintenance and long term neglect under special assessment. This report is available in the office for review by any homeowner.

4. Minutes approved unanimously 9/22/07 as corrected since no quorum at last meeting. Minutes approved unanimously for 11/18/07 as well.

5. Saul went over the quarterly outcomes. These were updated and will be posted on the web. We discussed plans for a celebration of the 35th year of HBV at the annual meeting. We need a volunteer photographer to take pictures of the association. Rotted shingles were replaced for D and E and flashing to rear decks to D.

6. Financials: (Financial information is not available online. Please call the office for financial info)
Yvonne went over the financial packet (attachment 1). Now that we have our new accounting system on board with weekly itemized statements we can close the special assessment. Our current bank balance is $27,477.57 as of 12/31/07, $10,875 is prepaid for membership dues. Thus $16,602.67 is money available. We have accounted for all special assessment and all has been spent. From now on any expenses come from homeowners dues. We are in balance. Only $150 in dues is past due.

7. Board had a discussion on future special assessments and dues increases now that the special assessment is over. We have not completed all the items on the master list from the structural engineer since funds had to be diverted for other projects that became a priority such as paving the roads and new roof for C, as supported by homeowners in annual meeting in 2006. We won’t be able to afford keeping Larry on staff for 5 days a week for 6 months for improvements based on the maintenance budget alone. Jesus and Yvonne asked for an analysis of expenditures that are amenities such as water and cable and how much of monthly dues are left for maintenance. We also need to determine what other associations are paying on the mountain. Karen and Moe will do an analysis and report back to the board at a special meeting in March from 9-10 a.m.

8. Jesus reported on maintenance. The maintenance report has been updated and placed on the web. Larry stopped the maintenance program on November 30th and it will resume again in the spring. Jesus reported on a break-in E 118 where the lock box was taken and the bottom lock was broken and the top lock was locked when it was open before. The police were notified. The lock was replaced by the homeowner. Any homeowners with any information about this incident need to notify the police so the perpetrators can be found. Security is not an association responsibility but any concerns can be expressed to the office. Larry continues with snow removal and winter program for season although snow falls have been less than average.

9. Long term planning: Gutter improvements are deferred for this time. Larry has done some preventative maintenance on electrical boxes. Refurbishing front light fixtures is in progress. Determine cost for new building identification signs to match unit signs. Replace roofs on all buildings as required. C and clubhouse were already replaced. Rest of building were last replaced from 1993-1997. Total cost is approx. $106,000 for replacement of remaining roofs. Stairs to C building done. Replacing top posts to back decks was deferred G and E are priority since these are not cantilevered. Touch up painting as needed. Side of H and F buckled siding is not a structural concern at this time but may need to be addressed in the future.

10. No reports from archive except Tom will contact some original owners for historical information, legal or bylaws committee.

11. Larry has submitted his new rates for the coming year. New rate is $28.96 per hour for Larry and $22.24 for helper.

Meeting was adjourned at 12:00. Next meeting will be the first board meeting on March 15, 2008 at 10 a.m. in HBV clubhouse.

Jesus A. Hernandez
Board Secretary

Holiday Beech Villas—Your Mountain Destination