Meeting was called to order by Ms. Jill Vogel, Pres. at 7:00p.m. Board members present included Ms. Vogel, Mr. Tony Armes, Ms. Karen D’Amato, Ms. Martha Filliben, and Ms. Carol Kueppers. Quorum was established and the meeting was posted properly.

Motion by Ms. Kueppers, 2nd by Ms. Vogel to approve the minutes of March 6, 2017. Passed unanimously.

New Business

Discussion of future projects which includes the painting and the re-sealing of the parking areas. Bids have been obtained for both projects. Estimated funding needed will be on the order of 43K. Current reserves do not have enough to cover this project. $10,500 is in the painting reserve and $1,300 in the paving reserves.

An analysis of the reserves indicates that approx. $1070 should be deposited monthly in the reserves to fully fund them. Currently only $320 is being put in the reserves.

The estimated assessment will be $1830 per unit if utilizing the current reserve balances and $2286 not utilizing the existing reserve funding.

A straw vote from the 14 owners present indicated 9 out of 14 are in favor of painting within a year time frame and 9 out of 14 are in favor of re-sealing within a year time frame.

The BOD is reviewing options and will be holding another meeting on June 12, 2017 at 6p.m.

Adjournment

Meeting adjourned at 7:23p.m.