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

BOARD OF DIRECTORS MEETING

WEDNESDAY, SEPTEMBER 22, 2010

MINUTES

 

 

 

The Board of Directors meeting for The River Oaks Place Council of Co-Owners, Inc. was called to order at 7:02 p.m.  Those present were Neil Koenig, Lindsey Word, Ruth Simmons, Sandra Stettler, and Jackie Wright representing the managing agent.  David Brashear was absent.

 

 

HOMEOWNERS FORUM

 

Those present were Luis Salinas, Mae Holm, Gretchen Umbeck, and Tom Fox.

 

John Burns, Tom Fox and Susan Kingsbury were thanked by Mae Holm for their efforts and time in arranging the recent ice cream community event.

 

The Board answered questions from Luis Salinas regarding David BrashearÕs term and plans for serving on the Board next year, as well as questions about serving as homeownersÕ liaison for matters concerning landscaping.

 

Management answered questions from Tom Fox regarding reserve funding that may be used to cover the large insurance deductible in the event of a named storm.  Tom wanted to know what the BoardÕs intention was with regard to holding funds in reserves for an insurance deductible loss, rather than allowing the ownersÕ use of the money until there is an actual deductible loss.  The Board advised that because of their obligation to maintain and improve the complex in the best way and to be fiscally responsible in doing so, it is their collective opinion that it would be unwise to reimburse any reserve funds back to homeowners.

 

 

APPROVAL OF MINUTES  

 

The minutes of the August 25, 2010 meeting will be emailed to the Board for review.

 

 

River Oaks Place

Minutes

Page Two

 

 

FINANCIAL REPORT

 

The Financial Report was reviewed and accepted as presented.

 

 

UNFINISHED BUSINESS

 

Management advised that new vehicle stickers will be distributed beginning next week.  Each unit will be entitled to two of the stickers.

 

Management was given the authority to have two building light fixtures replaced; one at the end of building J and one at the end of building K.  Management will contact David Brashear, notifying him of this decision to ensure that no others have, in fact, been ordered.

 

 

NEW BUSINESS

 

The Board discussed needed foundation repairs at Building I.  Management presented three proposals for the BoardÕs review (Dura Pier Foundation Repair, Jericho Foundation Repair, and Church Services).  Motion was made, seconded and carried to approve the proposal from Jericho Foundation as presented.

 

There was brief discussion regarding National Night Out.  It was noted that the North Montrose Civic Association is having a potluck dinner for the occasion, the details of which are posted on their website.

 

There being no further business, the meeting was adjourned to Executive Session.

 

 

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Approved                                Date