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Minutes for 2001 November (Annual Meeting)

Altamont Patio Condominiums
Annual Board Meeting

Minutes
November 13, 2001

Number in Attendance:            25

Jeff Sfakianos, President, began the meeting at approximately 7:30 by providing Proof of Notice.  The minutes of the last meeting could not be located and were not read.

Board Member Election:

A motion to accept was made for new board members.  The motion was seconded and accepted.  Board members are:

Jeff Sfakianos—President

Presley Burns—Grounds

Shirley Williams—Secretary

Dr. Dudley Pewitt

Diane Dennis

Linda Allen

Denise Odonnell

Further organization of members to occur at December’s board meeting.

Report of Officer:
New Company
Metcalf a good choice.  The cost is the same as CS, but Metcalf has been more responsive.

Capital Improvements Completed
Awnings replaced

Siding replaced

Painting complete (except doors)

Parking lot patched

Improvements Needed
Remedy for leaks including sump pumps, using a sealant, and removing trees all discussed. To be discussed further and voted on at next board meeting.

Financial Report

Expenses for 2000, 2001, and those forecasted for 2002 were listed.

Expenses listed for 2002 equal approximately $145,000. Association fee at current rate will bring in $107,244 without assessment. Current assessment is due to end in February 2002.

Bottomline:  The current assessment must continue in order to meet expenses or the base fee must be increased.

To avoid scaring off potential buyers, it was noted that continuing the current assessment was the best choice.

During the financial report discussion, it was noted that Metcalf using a general pool for its operating account.  The reserve is a separate bank account. Metcalf to furnish proof of bond to board.

Dr. Pewitt asked that the next financial report show the expenses reconciled with the budget.

Suggestions for cutting current expenses had to do with water including: more efficient toilets, fixing hose leaks, and pool trickle.

Budget and continuation of assessment to be voted on at next board meeting.

Information Availability
Metcalf can provide copies of Association’s bylaws.

Overall expenses and proposed budget added to our website: www.altamontpatio.net.

Unfinished Business
None

New Business
Quarterly assessment of budget.

Capital Improvements 2002

·        Parking lot

·        Concrete repairs

·        Planting in A row

·        Grounds contract
 

Other Discussion
Derrick Limpkey suggested improvements and was asked to provide costs for each at next board meeting. These included:

·        More efficient toilets

·        Improve color scheme

·        New doors

·        Improve parking lot
 

Derrick also suggested an Altamont Day to be initiated to help get residents involved in keeping the grounds clean.

Denise Odonnell asked that something be done about the parking lot during snow and ice events.

Meeting Adjourned:

Prior to closing the meeting, Jeff Sfakianos, asked that the board meet again in December. Date to be provided later. All agreed.

download .pdf file of 2001 annual meeting minutes

minutes documented by Shirley Williams