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Blue Lake Board Meeting
August 20, 2007
In Attendance: Scott Wirkler, Vince Shimp, Jack Musser, Susie Atwood, Diane Henderson. Homeowners Present: Brian Smith, Bob Giacinto, Monte Baker, Jerome Simecek, Gretta McKenney, Joe Chacon
Absent: Kelly McKenney, Gina Shaw.
Meeting called to order @ 6:30pm.
June Minutes were approved as is, July minutes approved with a change of announcing the proposed increase of association dues to $100 in the next Bugle. A discussion followed that the dues increase must be approved by a quorum of Homeowners @ the annual meeting.
New Board Member: Brian Smith introduced himself, stating his interest in joining the Board of Directors. Brian is a CPA in Basalt and handles several HOA books in the valley. Susie moved to have Brian Smith join the Board, the motion was seconded by Vince. Passed unanimously.
Sidewalk: Monte Baker attended the meeting to find out how the sidewalk was to be finished. There was discussion that the sidewalk would be backfilled with topsoil, Joe Chacon with Sopris Curbing was the contractor who pulled up the sidewalk and is now handling the backfill. Joe presented his bid to do the backfill. Susie moved to accept the bid as our sidewalk contractor, Jack seconded the motion, and it was approved. The work will be done this week.
The sidewalk will then be seeded with a grass mixture specific for high traffic areas and is drought resistant. It will be applied via hydro seed. The seed mixture will take about 2 weeks to germinate and another 6-8 weeks to be in full. The grass seed will be applied within a weeks’ time to give it time to germinate before the frost is here for the winter.
Preschool Door Update: The Blue Lake Preschool will have 4 new doors installed next week as per our agreement before they took over 100% of the lease for their building.
BMX Course: Homeowner Tim Braun dropped off some information to have a BMX course put in on the soccer field. It would be funded and built by other homeowners interested in having this course. The Board has tabled the issue for now pending a look at any liability issues and will discuss it further at the Sept. meeting.
Office Rental Increase: The Board approved a rent increase for Community Health Initiatives who rents 2 office spaces in the Blue Lake office building. The rent will be increased from $350/mo. to $450/mo per office starting in Sept. 2007. The offices rented out in the building will be subject to annual increases based on the CPI.
Pump: Homeowners on Buckskin Ct. would like to pay to have a pump system put in using water from the lake to water lawns. The Board needs more specific information in order to make an informed decision.
New Loan: Susan Atwood has been looking into getting a new loan for the Community Center building. The current interest rate on our loan is 9.75%. Signer will be Kelly McKenney, Pres.; Scott Wirkler, Vice Pres.; Susie Atwood, Treasurer. It has been approved that Susie Atwood can sign for the loan on 9-11-07.
For a 30 year fixed loan the following was offered: Alpine Bank – 8.5%, Wells Fargo – 8.25% and Bank of Colorado – 7.9% for 5 years and an adjustable rate after that. Susie is inclined to go with Bank of Colorado. To make this change it would save the association approximately $2,600/yr. The change to Bank of Colorado was approved unanimously. The signers will be Kelly McKenney (President), Susie Atwood (Treasurer) and Scott Wirkler (Vice President).
Storage Lot Dues Increase: There has never been an increase in storage lot dues and it is time. The Board approved a 50% increase making the dues as follows: 20 x 12 spaces will be $22.50/mo; 30 x 12 spaces will be $26.25; 40 x 12 spaces will be $30.00/mo. The storage dues will still be billed on a quarterly basis. This will be effective starting in January 2008. This is to be in the September Bugle.
The meeting adjourned @ 8:10pm. An executive session took place after the meeting.
Minutes respectfully submitted by Diane Henderson.
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