Dakota Ridge Homeowners Association
Meeting Minutes
July 15, 2010

A regular meeting of the Dakota Ridge Homeowners Association was held on July 15, 2010 at 8:30 a.m. in the Board Room of The Commercial Property Group, LLC at 3001 S. Lincoln, Steamboat Springs, Colorado.

Board Members: David Zedeck
Mindy Williams
H.C. Pace
Thomas Stone

Guests: Stephanie McDonald
Nancy Kounovsky

The meeting was called to order at 8:30 a.m.

The Financial report was the first item on the agenda. Nancy gave the Financials report. She stated that income is at budget while total expenses are under budget at this time with only the legal expense line item materially higher than budgeted and water system repair, administration and sign acquisition line items materially below budget. Nancy also reported to the board as requested from the last meeting on interest rates available for the association’s capital reserves and cash not expected to be immediately used to pay expenses. In response to her inquiry, Millennium Bank increased the interest rate from 0.6% to 1% on the Association’s money market account. She noted that brokered CD’s are still at a very low interest rate and do not offer rates materially above 1% except for maturities two years or longer (and then only about 1.3% is currently offered). The board did not pursue investing in any CDs at this time.

The next item of business was the Water report. Ron Lazof submitted an invoice exceeding $2,500 for work for his irrigation system to improve water conservation and the Board considers this matter closed. The Board asked that the call out list for the water tank alarm be updated and to check out the low water alarms that were reported during the past month.

Under the Road report, a road sign repair estimate was submitted by Lone Oak Studio. Members of the Board will take a sign survey and decide which signs need to be repaired and may request another bid for the project. Crack sealing of the neighborhood will begin July 20th. David Zedeck requested that CPG make sure that Sugar Ridge Road is included in the crack sealing work. A request was made for CPG to contact Aces High to clean up hydraulic fluid apparently left on Association roads from their last pickup in the neighborhood. Mindy will check to see if the road markings from the marathon are water soluble and if not, to ask the marathon sponsors to clean the markings they made.

Under the ARC report, Mindy stated that Lot 60 is coordinating with the Lowe’s as to the planting of the trees between the two lots. The Redgraves will meet with Mindy by the end of July to finalize a list of things yet to be finished on Lot 12, as the contractor will not meet the August completion date as previously agreed. The Hayden home is within two weeks of getting their certificate of occupancy. Steve Hofman submitted a letter to the Board about his outside lighting, which the Board reviewed. After some discussion, it was agreed to require the Hofmans to comply with Association rules, following the procedures outlined in the Association’s covenants.

Under Other Business, H.C. gave information regarding the recent sightings of a mountain lion in Dakota Ridge. The Colorado Dept. of Wildlife is willing to put together information or a meeting for the benefit of the neighborhood on wildlife precautions. This information may also be sent to all Association members in a future mailing. Thomas reported that Tim DePuy is currently working with Ferrellgas on the October 2010-March 2011 gas contract to be offered to Association homeowners and that Ferrellgas should make the proposal to homeowners individually within a few weeks. Thomas asked CPG to follow up with the owners of Lot 20 regarding weeds and re-vegetation. Medora has calls in to three contractors to hay the common areas. Two more applications of weed spraying will be done on the common areas. CPG representatives noted that they had received a call from an Association member concerning the jewelry burglary reported in the Steamboat Today and confirmed that there have been no other reported break-ins in Dakota Ridge.

There being no further business the meeting was adjourned.

Respectfully submitted,
Stephanie McDonald
Secretary for the meeting