What's New

CALL TO ORDER
The meeting was called to order at 6:30 p.m. by Dan Van Ert.

MEMBERS PRESENT
Sharon Drobka - Vice President (arrived at 7:50 p.m.)
Rudi Fruth - Secretary
Anne Omori - Member
Robert Turner - Member
Dan Van Ert - Member

MEMBERS ABSENT
Morris Lane - President
Pamela Ariano - Treasurer

ALSO PRESENT
Joanne Peña - Horizon Management Company
Jack Davidson - On-Site Maintenance

OPEN FORUM
The homeowners in attendance were given the opportunity to address the Board.

MINUTES

MOTION (RF,AO) to approve the minutes of the August 19, 2008 board meeting, as submitted. The motion carried.

FINANCIAL REPORT
As of August 31, 2008, there was $299,032 in operating cash and $1,893,944 in reserve funds.

Reserve Investments. MOTION (RT,AO) to re-invest one of the $90,000 CDs coming due later in the month for twelve months. The motion carried.

Resolution to Record Lien. The Board reviewed the Notice of Delinquent Assessment (pre-lien letter) sent to the owner of the property identified as Assessor's Parcel Number (APN) 7359-035-152. The owner, as of the date of this board meeting, has not requested internal dispute resolution (IDR). A majority of the board members voted to authorize Horizon Management Company or other designee to record liens for the amount of any delinquent assessments, late charges, interest and/or costs of collection (including the fees and costs of preparing the lien against the owner of the property, fees for coordinating enforcement of the lien between designees, and attorney’s fees), if IDR is not requested and payment in full is not received by the Association by 5:00 p.m. on October 14, 2008. Thirty (30) days after recordation of the lien, if the delinquency persists, the Board authorizes its designee to enforce the lien. A copy of the resolution will be kept on file. VOTE: SD, RF, AO, RT, DVE in favor, PA, ML absent.

Resolution to Record Lien. The Board reviewed the Notice of Delinquent Assessment (pre-lien letter) sent to the owner of the property identified as Assessor's Parcel Number (APN) 7359-035-134. The owner, as of the date of this board meeting, has not requested internal dispute resolution (IDR). A majority of the board members voted to authorize Horizon Management Company or other designee to record liens for the amount of any delinquent assessments, late charges, interest and/or costs of collection (including the fees and costs of preparing the lien against the owner of the property, fees for coordinating enforcement of the lien between designees, and attorney's fees), if IDR is not requested and payment in full is not received by the Association by 5:00 p.m. on October 14, 2008. Thirty (30) days after recordation of the lien, if the delinquency persists, the Board authorizes its designee to enforce the lien. A copy of the resolution will be kept on file. VOTE: SD, RF, AO, RT, DVE in favor, PA, ML absent.

Resolution to Record Lien. The Board reviewed the Notice of Delinquent Assessment (pre-lien letter) sent to the owner of the property identified as Assessor's Parcel Number (APN) 7359-035-081. The owner, as of the date of this board meeting, has not requested internal dispute resolution (IDR). A majority of the board members voted to authorize Horizon Management Company or other designee to record liens for the amount of any delinquent assessments, late charges, interest and/or costs of collection (including the fees and costs of preparing the lien against the owner of the property, fees for coordinating enforcement of the lien between designees, and attorney's fees), if IDR is not requested and payment in full is not received by the Association by 5:00 p.m. on October 14, 2008. Thirty (30) days after recordation of the lien, if the delinquency persists, the Board authorizes its designee to enforce the lien. A copy of the resolution will be kept on file. VOTE: SD, RF, AO, RT, DVE in favor, PA, ML absent.

Resolution to Record Lien. The Board reviewed the Notice of Delinquent Assessment (pre-lien letter) sent to the owner of the property identified as Assessor's Parcel Number (APN) 7359-033-071. The owner, as of the date of this board meeting, has not requested internal dispute resolution (IDR). A majority of the board members voted to authorize Horizon Management Company or other designee to record liens for the amount of any delinquent assessments, late charges, interest and/or costs of collection (including the fees and costs of preparing the lien against the owner of the property, fees for coordinating enforcement of the lien between designees, and attorney's fees), if IDR is not requested and payment in full is not received by the Association by 5:00 p.m. on October 14, 2008. Thirty (30) days after recordation of the lien, if the delinquency persists, the Board authorizes its designee to enforce the lien. A copy of the resolution will be kept on file. VOTE: SD, RF, AO, RT, DVE in favor, PA, ML absent.

MOTION (AO,RT) to accept the July financial report. The motion carried.

MAINTENANCE REPORT
Jack Davidson provided the Board with a status report on various maintenance projects.

• The gazebo by unit #190 has been completed.
• Pool C needs to be re-plastered and re-tiled. Bids will be available for board review at the October meeting.
• The ponds need to be emptied and cleaned.

MANAGEMENT REPORT

Insurance Renewal. The Board reviewed the insurance renewal quotes submitted by Steven G. Segal Insurance Agency. MOTION (DVE,AO) to accept Option I for $50,000,000 in earthquake insurance for a premium of $247,780.46. The motion carried. MOTION (AO,RT) to accept Master, D&O, Umbrella and Fidelity Bond renewal quotes, as submitted. The motion carried.

Borrowing From Reserves to Prepay Insurance Premiums. MOTION (RT,AO) to borrow $247,780.46 from the reserves to prepay the earthquake insurance premium to avoid the cost of financing, with the understanding that the funds borrowed will be repaid monthly over the course of the next twelve months. The motion carried.

Draft Budget for October. A revised budget draft will be prepared for board review at the October meeting, incorporating the insurance renewal premiums, with premium savings to go to fund a catastrophic loss fund.

Legal Opinion Re: Fire Doors. The Board reviewed legal opinion from Swedelson & Gottlieb with regard to the Board's responsibility for ensuring that the fire doors between the unit garages and the living spaces are maintained as fire doors. Horizon Management will review the CC&R's to see if they address the issue of fire doors. A reminder will be included in an upcoming newsletter.

Disposal Service. The Board reviewed bids from CalMet and United Pacific Waste for trsash disposal services. Decision was tabled pending further evaluation.

Correspondence. The Board reviewed a letter from an owner asking for an accounting of the fines, late fees and interest applied to his account, and asked Horizon Management to respond.

ADJOURNMENT
There being no further business before the Board, the meeting was adjourned at 8:20 p.m. The next meeting is scheduled for October 21, 2008 at 6:30 p.m. in the Clubhouse.