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Dakota Ridge Homeowners Association
Board of Directors Meeting
Thursday, July 16, 2015

In attendance: Sharon Pace, Tomas Stone, Sarah Jones, Tim DePuy (by phone), Carrie Hayden (by phone)
Guests in attendance: Medora Fralick, Nancy Kounovsky – Commercial Property Group (CPG)
Nancy Jarchow – Homeowner
Jeff Lake - Civil Design Consultants (CDC)

The meeting was called to order by President Sharon Pace at 8:00 am in the Board Room of The Commercial Property Group, LLC at 3001 S. Lincoln, Steamboat Springs, Colorado.

The Board discussed CDC’s proposal for the scope of work for the water line replacement project. Tim made a motion to accept CDC’s proposal dated July 10, 2015 up to $22,000, with the addition of documenting the condition of the existing pipe when it is exposed and adding testing holes at the water treatment plant when pipe is exposed during the valve replacement phase. Sharon seconded the motion. The motion carried unanimously.

The overall project approval was formalized by the Board, as follows:
I, Tim DePuy, make a motion to approve moving forward with the water line replacement project and offering bank financing to owners who so desire on a 3-year loan term with monthly payments to the bank, and 12 quarterly payments from participating owners. Tomas seconded the motion. The motion carried unanimously.

Medora mentioned that she is working with the Association’s water attorney to complete the due diligence for the conditional water rights permit renewal. Tomas made a motion to authorize the filing of the due diligence permit in July 2015. Sarah seconded the motion. The motion carried unanimously.

The Board discussed the long range planning committee to assist with capital improvement plans. Names were presented and the Board will contact the individuals to see if there is an interest in serving on the committee.

Tomas recapped the Association’s financial position at June 30, 2015. The Association’s finances compare favorably to the budget by approximately $6,300, primarily due to lower-than-budgeted water system repairs. There are no significant changes to the balance sheet.

Under roads, Medora mentioned that the road sides have been mowed and the weeds have been sprayed. The crack seal project will begin soon. A suggestion was made to provide homeowners with noxious weed information next spring.

There was no action taken with regard to ARC review.

Under other items, Medora presented a new management agreement to the Board. The Board will review the new agreement before the next meeting.

Tomas mentioned that the certificate of deposit (CD) at Mountain Valley Bank will mature later in July 2015. Sharon made a motion to grant authority to Tomas Stone to renew the CD at Mountain Valley Bank or open a new CD at another financial institution in the name of Dakota Ridge Homeowners Association. Sarah seconded the motion. The motion carried unanimously.

Medora and Nancy Kounovsky left the meeting and the Board, in executive session, discussed the management agreement proffered by Medora but took no action.

The next meeting of the Board was scheduled for August 13, 2015 at 8 am.

The meeting was adjourned at 9:35am.

Respectfully Submitted,
Nancy Kounovsky