THE RIVER OAKS PLACE COUNCIL OF CO-OWNERS, INC.

BOARD OF DIRECTORS MEETING

WEDNESDAY, MARCH 24, 2010

MINUTES

The Board of Directors meeting for The River Oaks Place Council of Co-Owners, Inc. was called to order at 7:12 p.m. Those present were Ruth Simmons, David Brashear, Neil Koenig, Lindsey Word, and Jackie Wright representing the managing agent. Sandra Stettler was absent.

Motion was made, seconded and carried to approve the minutes of the February 24, 2010 Board of Directors meeting and Executive Session as amended.

HOMEOWNERS FORUM

Tom Fox of Unit 219, Wilson Barbee of Unit 132, Mae Holm of Unit 216, and Kay Lawler of Unit 150 were present.

Kay Lawler discussed the e-mail she sent regarding weeds in the common lawns. The Board advised that the landscaper applied Scott’s Weed & Feed fertilizer on March 9, 2010 which should help eliminate any weeds. This issue will be re-visited at next month’s Board meeting, if necessary.

Wilson Barbee requested trimming of the tree branches that are growing up through the fence outside Unit 132. Management agreed to contact Juan Merida to do the trimming.

Ms. Lawler also asked that Oleanders that are growing over the patio fence at Unit 150 be trimmed and that the trellis in the common area outside Unit 150 be removed. Management agreed to have these requests completed by Juan Merida.

Tom Fox discussed the e-mail he had sent to the Board regarding Reserve interest income, which he feared may be too low. The Board reported the current interest rate on the majority of the Reserve funds, which Mr. Fox agreed to be a very favorable rate in the current economy. The Board further reported that a Certificate of Deposit had just been rolled over for a briefer length of time (3 months) due to the fact that hurricane season is imminent, and also

River Oaks Place

Minutes

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because economic indicators suggest that rates may be going up later in the year. The Board assured all present that they are making every effort for the Association to receive the best interest rates possible.

The Financial Summary and Management Review were reviewed and accepted as presented.

UNFINISHED BUSINESS

The south perimeter brick wall replacement has been delayed because of the contractor’s schedule. Ms. Wright advised that she is working on obtaining a firm start date from Brick Restoration. There was discussion regarding whether or not razor wire would be needed on top of the temporary fence, and it was the unanimous decision of the Board that it would not be necessary. A notice will be posted notifying residents in the immediate vicinity of the upcoming work on this project.

Management advised that the fire walls have all been repaired by Comcast, with the exception of two units which will be completed by Larry Hiser.

The Board discussed continuing problems with residents using common-area parking spaces. The proposed solution is to issue guest parking passes to help establish how many vehicles actually belong to residents and how many belong to guests, and to discover how long the guest vehicles remain on the premises. No new fines will be assessed until homeowners have been duly notified of the Association’s proposed parking policy and an informal survey of the owners concerning the policy is conducted. After lengthy discussion regarding this proposed solution, motion was made, seconded and carried to move forward with preparation of a written survey for homeowners. David Brashear agreed to draft the survey for approval at the next Board of Directors meeting.

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The next community event was scheduled for Sunday, April 25, 2010. An informal meeting to discuss plans will be held prior to the event. Tom Fox agreed to participate.

Management advised that repairs have been completed on both the front and rear gates. It was also noted that the new stop sign for the exit has come in, and Larry Hiser will be installing it shortly.

NEW BUSINESS

Ruth Simmons agreed to draft a list showing the age of each building roof.

Landscaping issues were discussed, and it was noted that mulch is needed throughout the property. Motion was made, seconded and carried to have the on-site staff install non-odorous hardwood mulch throughout the property. It was agreed that the mulch will not be installed in areas where doing so would cause it to be up onto a foundation.

It was noted that the Association’s website address has changed to “.com.” David Brashear explained the reasons for same.

David Brashear discussed the need to address the concrete driveway area in front of the dumpster as a next major project after the brick wall has been completed, and management agreed to solicit proposals for the work. Sidewalks may be addressed following the driveway work.

There being no further business, the meeting was adjourned at 8:15 p.m. to Executive Session.

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Approved Date