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Dakota Ridge Homeowners Association
Board of Directors Meeting
Thursday, September 20, 2018
Holly VanDeursen (by phone)
Jim and Kay Makens
Medora Fralick and Nancy Kounovsky, Commercial Property Group
A meeting of the Board of Directors of the Dakota Ridge Homeowners Association was called to order by President Sarah Jones at 8:05 am on September 20, 2018 in the Board Room of The Commercial Property Group, LLC at 3001 S. Lincoln Ave., Steamboat Springs, Colorado.
With regard to the water system, Jim provided an update on the Chlorine Contact Basin Project and reported that the project was running on time and all of the current invoices related to the work have been paid. Medora also interjected that she had a discussion with Erin Light, Water Commissioner, regarding the call on the Yampa River due to the drought. We were able to verify daily gallons pumped to release water from storage to replenish the Yampa River.
Paul recapped the Association’s financial results through August 31, 2018, noting that actual income for the 5-month period ended Aug 31, 2018 is on target with the budget. Also, total actual expenses incurred through Aug 31 reasonably compares with the amount budgeted. Overall, the surplus of income over expenses (approx. $15K) is close to the amount budgeted (approx. $17.5K). Comparing the Aug 31, 2018 balance sheet to the same time in the prior year, the cash balance is about the same. The balance in the Capital Reserve (approx. $572K) reflects the additions from annual HOA assessments and reductions for payments for the Chlorine Contact Basin project.
Paul also mentioned that the Capital Improvement Committee met and reviewed both the Road Report from Northwest Colorado Consultants and the Water Report from Civil Design Consultants. In general, the Committee felt comfortable that the Association reserves are adequate on a short term basis. The Committee will continue to meet to analyze the adequacy of reserves on a long term basis. Jim suggested that Greg should be involved in any future meetings regarding the association roads.
Concerning Roads, Greg explained that the crack fill project was complete along with a patch on Trail Ridge Rd. Also, mowing, weed control and ditch cleaning projects have been completed.
Regarding ARC business, Holly reported that the Committee sent a letter to Routt County in support of the lot line move for Lot 71.
Under Ongoing Projects, the topic of Neighborhood Trash Service will be tabled indefinitely. Sarah mentioned that there will be a future workshop offered in the community regarding Fire Mitigation. The Association Members should be notified when specific information becomes available.
The next Board meeting was scheduled for Tuesday, November 13, 2018 at 8:00 am.
The meeting was adjourned at 8:55 am.