BOARD OF DIRECTORS MEETING

Roundup Report

Monday January 22, 2018  TBD

2^nd Floor Party Room

OWNER FORUM – 7:30 pm

The Board and Management addressed questions and feedback from Unit Owners.

OPEN SESSION – Call to Order

The meeting chair, Board President Michael Parrie, called the meeting to order at 7:40PM.

Roll Call – Confirm Quorum

The meeting chair confirmed all Board Members were present for quorum. Present from the Board was President Michael Parrie, 1st Vice President Paul Heck, Treasurer Jean Shamo and Secretary Dave Nicosia, and 2nd Vice President Monique Fouant.

Also present, from management, was Property Manager Timothy Patricio, and Assistant Manager Yvonne Sanchez.

Committee Reports

On behalf of the Social Committee, Jean Shamo reported that movie night on January 20th was a success, with almost 50 owners and little ones in attendance. Next up, is the Super Bowl Party being organized by Management and the Maintenance staff, Sunday February 4th at 4PM.

Action Items – New Business

1. Closed Session Business

There was no business from Closed Session, held prior to Open Session, requiring a resolution.

2. Minutes – Board Meeting and Special Meeting of the Unit Owners – January 8, 2018

After a motion by Dave Nicosia, seconded by Paul Heck, the Board of Directors voted unanimously in favor of a resolution to approve the minutes from the Board Meeting and Special Meeting of the Unit Owners held on Monday January 8, 2018.

3. 2018/2019 Budget Adoption

After a motion by Jean Shamo, seconded by Dave Nicosia, and a final opportunity for any questions or feedback, the Board of Directors voted unanimously in favor of a resolution to adopt the budget as proposed and presented to Unit Owners for the fiscal year starting March 1st 2018 and ending February 28th 2019, with a 3.5% increase in assessments, a 3.11 increase in expenses, and a projected reserve contribution of $1,655,100.

Board President Michael Parrie thanked Management, Budget & Finance Committee Members Oliver Tugend and Rebecca Rossof, and his fellow Board Members. A proposed budget was present by Management in October. Management, the Committee Members and the Board reviewed each line item over three scheduled Saturday open meetings in November. In December it was approved for distribution and review by the Unit Owners, and mailed on December 26th. A Special Meeting was held for Unit Owners to ask questions and provide feedback and comments to the Board on January 8th. It is now adopted beginning with the new fiscal year March 1st, 2018.

4. Social Committee – Addition of New Member Request

After a motion by Jean Shamo, seconded by Monique Fouant, the Board of Directors voted unanimously in favor of a resolution to appoint Gregory Nigosian as a member of the Social Committee.

ADJOURNMENT

There being no further business, after a motion by Dave Nicosia, seconded by Paul Heck, the Board of Directors voted unanimously in favor of a resolution to adjourn the January 22nd, 2018 Board Meeting at 7:44PM.

OWNER FORUM – 15 minutes, 2 minutes per person

The Board and Management addressed questions and feedback from Unit Owners.

Next Meeting Dates are Monday February 12th and Monday February 26th at 7:30 pm

A Resident Forum is scheduled for Saturday February 3rd at 11:00 am.