Seven Springs Owners Association

Minutes

October 21, 2002 Annual Meeting

(Pending October 2003 approval)

 

The President, Deanne Drda, called the meeting to order at 7:10 p.m.

 

Roll Call: The Agent reported that 28 units were represented in person or by proxy. A quorum was present to conduct the affairs of the association.

 

A motion was made and approved to accept the minutes of the 2001 Annual Meeting.

 

Tom Young with Madison Insurance Group provide an overview of the challenges of acquiring insurance coverage and some of the precautions that can be taken to insure that underwriters will continue to show interest in the underwriting. He gave an overview of the coverage and the premium costs. There was a short question and answer session from the members who were present regarding the type of insurance that they should carry.

 

Deanne Drda provided a recap of the past year accomplishments that included: the parking lots have had new signage added, the parking lots were swept and re-striped and numbered, a bulletin board was installed on the side of the clubhouse for more communication with the residents, a reserve fund analysis was performed to assist in the budgeting process, the monthly assessments were reduced, a web page is maintained in another attempt to communicate with the members and residents, the mortgage on unit G-13 was paid in full, the long term delinquency associated with unit B-16 was resolved and the association acquired the unit under the foreclosure; the unit is now for sale, the delinquencies are now handled by a different law firm which saves the association money, a security company has been hired to patrol the community twice a night, signs will be posted on the property reflecting that the premises are patrolled by the security company, the landscape company was changed with the hope of enhanced appearances of the community. Deanne Drda indicated that next year projects would include looking into the replacement of the retaining wall along the south property line, further evaluation of security and lighting, installation of a new main sign and painting of the buildings with a change in color to update the appearance.

 

Deanne and Paul Drda asked for volunteers to participate in a color selection committee, a clean up day, smoke/fire alarm certification, building representatives, zone valve evaluation and any other areas that anyone may have an interest. There were no volunteers for any of the items.

 

Eric with Front Range Patrol commented on their on-site visits which included a check of lights, looking for any suspicious activities, walking the entire property and a dispatch number that will be made available for residents to call and report disturbances or suspicious activities.

 

Paul Drda, provided an overview of the finances and answered some questions from the members.    

Election of Directors: There were three open positions; Pam Thomas, Matt Maxwell and Pat Swart were nominated. All three were voted to serve as Directors.    

 

 Unfinished Business: There was no unfinished business.

 

New Business: A member asked that the heat be turned on sooner next year, a member commented that the grounds and general appearance of the community had improved in the past year, a member mentioned that the shrubbery needed to have a good dormant season pruning and concerns were expressed regarding raccoons and skunks roaming throughout the community.

 

Adjourn: With there being no further business, the meeting was adjourned at 8:35 p. m.

 

Respectfully Submitted,

 

Mike Crowley, CMCA

Agent for Seven Springs Owners Association