PINE TERRACE HOMEOWNERS’ ASSOCIATION

BOARD MEETING

THE BANK AT BROADMOOR

Tuesday, September 15^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, Lyndy Holzwarth, Secretary, Glenene Harris, Barbara Smith, and Mike Cason, Directors-At-Large.  

INVITED GUESTS:

Barbara Sparks, Homeowner, Ben Sparks, Attorney, Dan Rees, Property Manager, and Stephanie Blair, Recording Secretary/Bookkeeper

 SPECIAL DISCUSSION:

The order of business was changed to allow for a quick discussion between the Pine Terrace Board and Mrs. Sparks and her son, Ben Sparks , regarding how the dispensation of the insurance funds from Travelers will be handled as the Sparks property at 1425 W. Cheyenne Mountain Blvd. is rebuilt. It was decided that an agreement should be drawn up and approved by Mr. Sparks and the HOA attorneys outlining how the funds would be paid.

 APPROVAL OF MINUTES:

The minutes of August 18^th, 2009, were approved with a typo correction. The minutes of the Special Meeting following the Annual Meeting on August 18^th, 2009, were approved with the deletion of Lyndy Holzwarth ’s name, as she was not present. The motion was made by Mary Osborne and seconded by Mike Cason , and passed unanimously.

 OLD BUSINESS:

          Grage Letter:  As of this meeting date, Ed Osborne reported that he had received no response to the HOA request that Mr. Grage handle the maintenance needed at his property, 3735 Chataway Court . Ed said he would follow up with Mr. Grage on this.

          Gates: Dan Rees reported that Bob Denman with the Smart Gate Systems started on August 15^th checking out Pine Terrace’s current gate system. It is hoped that they can get the current system operating and residents can be connected by cell phones. Dan has checked with other suppliers as well as Smart Gate, and the common consensus is that the push button system is the best way to go for Pine Terrace, as wireless systems are not set up for multi-home use. Dan Rees and Bob Denman of LandTech recommend that the HOA consider the proposal for the system which will hold 250 to 500 codes, with a monthly maintenance charge of $35.00 be considered in replacing the current system.

 TREASURER’S REPORT:

          Mary Osborne reported that Accounts Receivable are running $255 under budget now, because the Afeman house construction on Hermitage is still not complete. In figuring the budget last year, it was assumed that the property would be built by summer.

          The budget is holding up well otherwise, as utility costs are down, however, the impact of the milder, wetter weather must be considered in the reduced costs.

          Mary is hoping to have the new Reserve Study done by the end of October. She will call a Budget Committee meeting as soon as she has the study in order to put together the Budget for 2010, and have it approved before the end of the year.

          As of August 2009, Total Assets are $ 263,531.65.

PROPERTY MANAGER’S REPORT:

          Dan Rees reported that the new contracts for 2010 that he has received are coming in with little to no change in cost, i.e., for grounds maintenance, gutters, etc. He should have all contract bids in time for the budget planning meeting. Larry with BIS sees no increase, but Dan will double check this.

          The big ticket items of utilities, snow removal, and gutters have so far stayed within budget, however, a new gate system may be necessary next year and the concrete and asphalt will be a major cost.

          Concrete work going on, but should be finished shortly. Asphalt work will start after concrete is complete. The work that has been done is good. The concrete color is not as white as the existing concrete, but it is closer than previous work done. Ed Osborne asked about the “splash pan” going in near the Holzwarth property, saying that it is quite a bump. Dan said he would look into it, but because of the lay of the road, he was not sure what might be done. Frank Dowis said he felt the dip in the road was good because it served to slow people down when driving through the area.

 COMMITTEE REPORTS:

          Architectural Control: Ed Osborne reported that he had been contacted by Don Monn, 3865 Hermitage, for approval of the installation of “stone looking” window well liners. It was agreed by the Board that there would be no problem with such installation in the window wells.

    NEW BUSINESS:

          The Afeman’s have submitted a bill to the HOA for payment to LandTech. When the contractor dug the basement for the house they are building, they found a main sprinkler line right in the middle of what was to be the basement. As these main sprinkler lines were laid out during the construction of the community, and are maintained by the HOA, the Afeman’s feel that this cost of $4,055.34 should be paid by the Association.

Mike Cason asked if the HOA was aware of an easement for this line, as normally there should be one. Ed Osborne and Frank Dowis said that they didn’t know of any. After further discussion, the Board agreed to pay. Ed Osborne made the motion, it was seconded by Lyndy Holzwarth, and passed unanimously.

          Ed Osborne then informed the Board that another issue with the Afeman’s building lot had come to his attention. There are other lines and wires running under the sidewalk. Dan Rees said that Mike with LandTech is working on a plan/proposal to take care of this.

          Dan Rees brought to the Board’s attention that he felt a reduction of the Construction (refundable and nonrefundable fees) for the Sparks rebuild should be considered. In Dan ’s opinion, since the trucks and building equipment would be limited to a smaller area and not within the community at large, the normal $2,000 non-refundable and $7,500 refundable fees could be reduced. After discussion the Board agreed that for this rebuild, the fees would be reduced to $1,000 non-refundable and $4,000 refundable. The motion was made by Frank Dowis , and seconded by Mary Osborne , and passed unanimously. Dan Rees agreed to closely watch the construction, and will direct the placement of the porta potty and dumpster in order that the nearby homes not be impacted.

          Mike Cason asked that the Board consider placing a time limit on future construction, as it is his experience that home construction should not take a year. Ed Osborne agreed that the Board look to establishing a time limit. This item will appear on the next board meeting agenda.

          Barbara Smith requested that the Scrub Oak at the back gate be trimmed for better visibility of the gate.

 ADJOURNMENT:

Ed Osborne adjourned the meeting at 4:20 p.m.

Respectfully Submitted /s/ Stephanie Blair , Recording Secretary

          NEXT MEETING: TUESDAY, OCTOBER 20^TH, 2009

                                             BANK AT BROADMOOR

                                             3 TO 5 PM