PINE TERRACE HOMEOWNERS’ ASSOCIATION

BOARD MEETING

THE BANK AT BROADMOOR

Tuesday, May 19^th, 2009

CALL TO ORDER:

The meeting was called to order by Ed Osborne , President at 3:00 p.m.

 PRESENT:

Ed Osborne , President, Frank Dowis , Vice President, Mary Osborne , Treasurer, and Lindy Holzwarth, Secretary.

 ABSENT:

Barbara Smith , Glenene Harris and Tom Berg , Directors At Large

 INVITED GUESTS:

Dan Rees , Property Manager and Stephanie Blair , Recording Secretary, Bookkeeper

 APPROVAL OF MINUTES:

The minutes of April 21^st, 2009, were approved. Mary Osborne made the motion, and it was seconded by Frank Dowis .

 OLD BUSINESS:

     Ed Osborne presented Board members with copies of the policies and procedures to be updated and changed to comply with state law. He requested the Board to review for discussion at the next meeting and prior to voting. Questions or suggestion from the Board should be emailed to him prior to June meeting for discussion. Once approved, residents must have copies 15 days before the changes may take effect. Ed requested that the Board note changes and those rules which have been kept in place. The policies and procedures will be added to Bylaws and Covenants and be posted on the web site.

     Based on the policies and procedures the Board discussed and agreed that the tree well near the Grage house should be the responsibility of the HOA and repaired/maintained by the Association. However, the railroad ties/patio are the responsibility of the homeowner, Mr. Grage.

     After some research Ed Osborne reported that since October 22^nd, 2002 the garage doors and front doors are the responsibility of the Homeowner. On the windows, his understanding is that the HOA would pay only the difference between the cost of clad and wood, and reimbursement would be decided on an individual case.

 TREASURER’S REPORT:

     Mary Osborne reported that everything was running smoothly so far with the budget. But again, she reminded the Board that the high expense months were coming. Costs must be carefully watched and expenses be controlled. She noted that ½ of the snow budget for the year has already been expended.

     As of April 2009, Total Assets are at $ 260,138.40

 PROPERTY MANAGER’S REPORT:

     Dan Rees reported that water features are up and running. Unfortunately, ordered annual are late, but Mike with LandTech is working with Betty Abrams of the Landscape Committee to get them planted at the front and back gate.

     Painting is going on, and it looks like the cost will come in under budget. Dan is expecting the total bill to be about ¾ of what was budgeted. This year only needed painting is being done. Ed Osborne commented that he is getting calls from homeowners regarding the unprofessional appearance of the painters Richard Kelly hires. Dan will again talk with Richard about this. As this continues to be a problem, Dan was requested to look at other painting companies as possible replacement.

     The sprinkler system is on, and he and LandTech are aware that all sprinkler heads are not working properly. Broken sprinkler heads will be replaced as needed, and all not functioning heads will be fixed as found or reported.

 COMMITTEE REPORTS:

Architectural Control:  Progress on the Afeman house is very slow. Nothing has been heard from the Polesons at this time.

 Landscape Committee:  Ed has received pictures from Betty Abrams on the work needing to be done at the areas near the front gate. Bob Maytag was consulted on his objections, and it appears that his major concern was the loss of a tree, and all the bushes. Ed discussed this with Betty and they will try and conserve the tree and one bush. Dan talked with Mike McClure of LandTech and he thinks all should be removed, as this is old planting and not looking healthy. Jay Blackman has quoted a cost of $280.00 to pull out the shrubs. Betty Abrams will try and get rocks that have fallen out put back. Her estimate for the total job including the new plants is $1000.00.

     The expenditure of  $1000.00 to take care of the project was approved by the Board. Frank Dowis moved, and Lyndy Holzwarth seconded.

     Lyndy Holzwarth also mentioned that between their property at 3775 Chataway Court , and Jim Hayes ’ property at 3815 Hermitage Drive , there is a very bad area which the sprinklers do not reach. The railroad ties used there are deteriorating and there is a lot of dead planting and grass. Frank Dowis said the area needs to be cleaned up and planted with something not needing a lot of water; perhaps a big boulder and some evergreens. Mary Osborne said there is a railroad tie just lying between their property at 3950 Hermitage, and the Palenchars’ property at 3940 Hermitage Drive , that serves no purpose and should be removed.

     The Board requested Dan Rees to look at these areas and either have LandTech and/or Betty Abrams , look at and let the Board know how to remedy.

  NEW BUSINESS:

     The Schulte driveway at 1435 W. Cheyenne Mountain Blvd. is in bad repair. It is steep and the concrete is badly cracked making it difficult for use and effecting the appearance, which is not good for the sale of the property. The Board requested Dan Rees to get the repair cost for approval. Dan replied that he also needed to get the cost for repair of Barbara Sparks’ driveway at 1425 W. Cheyenne Mountain Blvd. Dan said there are about 5 sections of the driveways to be repaired in total. Ed Osborne said he felt that if the amount needed was within Dan ’s budget to go ahead with it without Board approval. The Board agreed. Frank Dowis asked that the color of the concrete be the same as that already poured.

     Lastly, Ed Osborne asked the Board to continue to look for replacements for the 2 board positions open in August. He said it is important to keep up the good work the Board has done and to keep things running smoothly. Frank Dowis was asked to consider staying on the Board and he agreed to give it some thought. The  HOA has been fortunate to have good people on the committees and the Board expressed hope that many of the members would continue to serve.

     ADJOURNMENT:

Ed Osborne adjourned the meeting at 4:05 p.m.

      Respectfully submitted /s/ Stephanie Blair , Recording Secretary

                     NEXT MEETING: TUESDAY, JUNE 16^TH, 2009

                                                      BANK AT BROADMOOR