Meadow Hill
Board of Directors Meeting
December, 2013
The regular monthly meeting of the Board of Directors of Meadow Hill was called to order at 3:00 p.m. in the Clubhouse on Tuesday, December 17, 2013 by the president, Luther Weeks.
A quorum was present with the following directors in attendance: L. Weeks, M. Finnegan, L. Fillion, D. Faxon, J. Goselin, R. Weingarten
E. Schaefer, APM,
The minutes of the regular monthly board meeting held on November 19, 2013 were approved as written by unanimous consent on November 25, 2013.
Committee Reports
None reported.
Owners Forum
Treasurers Report
David Faxon reported that we have $305,000.00 in our reserves.
A motion was made by D. Faxon and seconded by J. Goselin to transfer our current funds in the money market account in Rockville Bank and where applicable at First Niagra and Liberty Banks to a money market savings account paying ¾% interest. The motion passed unanimously.
Maintenance Report
Work orders were reviewed.
A motion was made by J. Goselin to authorize the application of heat tape to units #74 and #78 roofs to avoid ice damming at their front doors. M. Finnegan seconded the motion. The motion passed unanimously.
Capital Projects were reviewed.
Managers Report
The correspondence was reviewed.
The calendar was reviewed.
Old Business
A motion was made to approve the Great Meadows Access Agreement by J. Goselin and seconded by D. Faxon. R. Weingarten voted no and 5 voted yes. The motion was passed.
New Business
The status of loan applications for the road project was discussed. Eight banks were sent proposals for loan commitments.
Executive session was opened at 4:00 pm.
Executive session was closed at 4:15pm.
A motion was made by J. Goselin and seconded by R. Weingarten to adjourn the meeting at 4:16 pm. The motion passed unanimously.
L. Fillion, Secretary.
Minutes are subject to revision within 30 days. The 2010 amendments to the Common Interest Ownership Act refined the traditional language of consent to Corporate Action. A decision by “unanimous consent” is every bit as legal and binding as one which is voted on during a live meeting as long as every member of the Executive Board agrees and the decision is memorialized in writing. The Secretary shall give notice to unit owners of any action taken by unanimous consent.
The minutes of the December 17, 2013 board meeting were approved by unanimous consent on 12/19/2013.
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Meadow Hill
Budget Meeting
December, 2013
The budget meeting of Meadow Hill was called to order at 7:10 p.m. in the Clubhouse on Tuesday, December 17, 2013 by the president, Luther Weeks.
Board of Directors: L. Weeks, M. Finnegan, D. Faxon, L. Fillion, J Goselin.
E. Schaefer, APM
The roll call was taken at the sign in table.
Proxies were collected.
E. Schaefer read the proof of notice.
A motion was made by D. Faxon and seconded by M. Finnegan to waive the reading of the minutes of the previous December budget meeting. The motion passed unanimously.
Reports
E. Schaefer presented a financial update including;
The Budget.
Capital Expenses
The Reserve Study.
Long Term Capital Plan
The election of inspectors to tally ballots and proxies.
The budget was ratified by a vote of 27 yes and 2 no votes going forward with a 4% increase in condo fees to owners
The budget was adopted.
Unfinished Business
None noted
New Business
Luther Weeks presented information and opened discussion on financing completion of the paving project either in 2014 through a bank loan or in 2018 by using accumulated funds from the reserve.
The meeting was adjourned by unanimous consent at 8:13 p.m.
L. Fillion, Sec.
Minutes are subject to revision within 30 days.
The 2010 amendments to the Common Interest Ownership Act refined the traditional language of consent to Corporate Action. A decision by “unanimous consent” is every bit as legal and binding as one which is voted on during a live meeting as long as every member of the Executive Board agrees and the decision is memorialized in writing. The Secretary shall give notice to unit owners of any action taken by unanimous consent.
The minutes of the December 17, 2013 budget meeting were approved by unanimous consent on 12/19/2013.
The proposal to provide a $250.00 holiday bonus to Mandie Belcher from Meadow Hill funds was approved by unanimous consent on 12/19/2013.