Meadow Hill
Board of Directors Meeting
February, 2014
The regular monthly meeting of the Board of Directors of Meadow Hill was called to order at 10:00 a.m. in the clubhouse on Thursday, February 27, 2014 by the president, Luther Weeks.
A quorum was present with the following directors in attendance: L. Weeks, M. Finnegan, L. Fillion, D. Faxon, R. Weingarten.
E. Schaefer APM, M. Belcher APM
The following directors were absent: J. Goselin
The minutes of the re-convened board meeting held on February 4, 2014 and the minutes of the special owners meeting held on February 25, 2014 were approved as written by unanimous consent.
Maintenance Report
Work orders were reviewed.
Capital projects were reviewed.
Committee Reports
Moira Finnegan for the sign committee: They feel that the size of the signs seems to be too large. Work is continuing on them.
For the grounds- a garden committee will be formed with proposals presented to the board.
Linda Fillion for the welcoming committee stated that Richard Giardella unit #153 was given his welcome package.
Owners Forum
Treasurers Report
David Faxon reported that we have $328,000.00 in our reserves and are within our budget as of the end of December. Net income for fiscal year end was $40,000 ahead of plan but subject to auditor’s adjustments.
Beginning in March, the balance sheet will be presented in a different format for ease of understanding by board members and residents. To eliminate some month end closing difficulties, APM will be given additional time to prepare monthly financial statements. These will therefore be delayed by one reporting month to accommodate the change in closing dates.
Manager’s Report
The correspondence was reviewed.
The calendar was reviewed with the addition of adding a snow day/backup day for the December budget meeting on the 2014 calendar.
Old Business
None noted
New Business
A motion was made by M. Finnegan and seconded by D. Faxon to approve the requests for heat tapes on units- 334, 44, 203, 314. L. Weeks abstained, L. Fillion and R. Weingarten voted yes.
A no parking sign will be placed at the Hollister House parking lot area that is designated as a no parking site to alleviate ongoing problems for garage access.
A motion was made by R. Weingarten and seconded by L. Fillion to reimburse any board members attending the CAI Expo on March 8, 2014. The motion passed unanimously.
The draft of Committees for 2014 for Meadow Hill was presented by L. Weeks. An article will be placed in the Lark to encourage owner participation.
Executive session was opened at 11:20am.
Executive session was closed at 12:00pm.
A motion was made by R. Weingarten and seconded by D. Faxon to authorize L. Weeks after consultation with E. Schaefer to sign a contract with New England Blacktop Paving once we have the 51% owner approval. The motion passed unanimously.
A motion was made by L. Fillion and seconded by R. Weingarten to authorize L. Weeks and E. Schaefer to conclude a loan commitment under the 4.9% interest rate- 7 year term with any bank once we have the 51% owner approval. The motion passed unanimously.
A motion was made by R. Weingarten and seconded by M. Finnegan to adjourn the meeting at 12:05 pm. The motion passed unanimously.
L. Fillion, Secretary.
Minutes are subject to revision within 30 days.