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Dakota Ridge Homeowners Association
Board of Directors Meeting
Thursday, January 18, 2018
Paul Orzech (by phone)
Medora Fralick and Angie Hansen, The Commercial Property Group
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 Ave., Steamboat Springs, Colorado.
Concerning the water system, Paul shared that Mary Andre of Civil Design Consultants now has all the information she needs from Tim Gibbons and will be delivering an updated report on the Chlorine Contact Basin Project this week. Mary also told Paul that she would be delivering the entire Water System Capital Improvement Plan Report to the Board by March 1. In a separate water issue, Medora related that the association received a letter from the Upper Yampa Water Conservation District (UYWCD) stating that the 30 year term on the contract (regarding the association’s allocation of water held in Stagecoach Reservoir) expires in 2019. However, the UYWCD is offering to extend the contract for two additional years with no other change in the terms of the contract. It was noted that Dakota Ridge does not use water allotted from the agreement now, and the water supply nor cost are affected by the agreement at this time. Medora has forwarded the letter to the association’s water attorney for review.
Tomas presented the financials which show that as of December 31, 2017 the Association was approximately $48,700 ahead of budget, largely due to income from higher than budgeted 3rd quarter water usage as well as lower than budgeted expenses, the most significant of which were water system operations and repairs, and snowplowing. Tomas also noted that the Capital Reserve balance at the end of December was approximately $530,300. The board next reviewed and discussed a proposed budget for 2018/19, including the anticipated cost of the three capital projects expected to be needed over the next four years: the chlorine contact tank/pump house improvements (expected to be installed this coming summer), cracksealing of the Association roadways and repairing the expansion cracks in the roadways. Tomas led a discussion regarding the expected level of the capital reserve over the next four years if these projects—which are projected to collectively cost approximately $787,000--were undertaken as recommended by the Association’s consulting engineers and there were no change to the current annual capital reserve assessment. The Board directed Tomas to meet with the CIP Finance Committee (comprised of Tomas and fellow homeowners Martyn Redgrave, Steve Hofman, Sam Jones and Paul Orzech) to discuss potential alternatives to strengthen the capital reserve to meet these expected costs.
The Board next discussed Roads. Sarah confirmed the costs of road repairs that Tomas presented during his financials update. We continue with annual maintenance to preserve the road system.
No action was taken with regard to ARC.
Discussing other matters, Sarah offered to initiate a trial run of the Next Door, a software application which facilitates communication among members of a community such as Dakota Ridge. Sarah expressed hope that this app would be useful in keeping a high level of communication between Members and the Board.
The next Board meeting was scheduled for March 8, 2018 at 8:05 am.
It was noted that the 2018 Annual Meeting is scheduled for March 22, 2018 at 4:00 pm at the Hampton Inn.
The meeting was adjourned at 8:55 am.