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Dakota Ridge Homeowners Association
Board of Directors Meeting
Thursday, December 15, 2016
In attendance: Tomas Stone, Sarah Jones, Sharon Pace
Guests in attendance: Medora Fralick & Angie Hansen – Commercial Property Group (CPG), Nancy Jarchow
By phone: Tim DePuy
A meeting of the board of directors of the Dakota Ridge Homeowners Association was called to order by President Sharon Pace at 8:05 am in the Board Room of The Commercial Property Group, LLC at 3001 S. Lincoln, Steamboat Springs, Colorado.
Tim gave an update on the Capital Improvement Plan (CIP). The CIP Committee held a meeting on December 2nd where a comprehensive report from Brian Len of Northwest CO Consultants was discussed. The Committee is currently waiting for a report from Civil Design Consultants.
The Board discussed the Proposed Budget for the fiscal year Apr 2017 – March 2018. Sarah made a motion to approve the budget, duly noting that CIP funding recommendations potentially could make it desirable that the board revisit the amount of Capital Reserve assessments. Tomas seconded the motion. All voted in favor. The motion carried.
Tomas recapped the Association’s year to date financial results ending November 30, 2016. Association operating expenses for November were under budget by approximately $8,000. The largest variances are Water System Repairs and Road Snowplowing. The Association’s year-to-date income and expense from operations compares favorably to the budget by approximately $64,000.
Under Other Items, Medora requested that the management agreement with Commercial Property Group, LLC be amended to permit CPG to collect estoppel fees, to comply with a recent change in Colorado law. No other changes were made to the management agreement. Sharon Pace signed the amended agreement as President of the Association.
No action was taken with regard to Roads.
No action was taken with regard to ARC.
No action was taken with regard to Water.
The next Board meeting will be held on January 19, 2016 at 8:05 am.
The meeting was adjourned at 9:00 am.