VILLAGE PALOS VERDES

HOMEOWNERS ASSOCIATION

BOARD OF DIRECTORS MEETING

MARCH 1, 2007

 

MINUTES

 

 

CALL TO ORDER

The meeting was called to order at 7:35 p.m. by Michael Talbot, Vice President.

 

MEMBERS PRESENT

Mike Talbot                 Vice President

Karen Harrison            Treasurer

Joe Grasso                   Secretary

Mark Bayma                Member at Large

           

MEMBERS ASBENT

Carma Hardin               Member at Large

 

ALSO PRESENT

Phil Greer                     On-site Maintenance

Joanne Peña                 Horizon Management

 

 

EXECUTIVE SESSION

Mike Talbot reported that the Board met with the Exterior Renovation Committee in Executive Session prior to the regular meeting to discuss the scope of work for Phase II.  The Board and the ERC will meet with Fremer Architects and Brussel Consulting on either March 14th or 21st to view all of the design schemes and elevations that have been produced to date.

 

OPEN FORUM

The homeowners in attendance were given the opportunity to address the Board.

 

PREVIOUS MINUTES

MOTION (MT,MB) to approve the minutes of the February 8, 2007, 2006 board meeting, as submitted.  The motion carried. 

 

FINANCIAL REPORT

The February financial report was not yet available for review.  The Board reviewed the delinquencies as of February 19, 2007.

 

 

 

 

Reserve Investments.  Joshua Axel, UBS, attended the meeting to talk about the Association’s reserve accounts.  The current investments are laddered over the next eighteen months.  There are three types of investments: CD’s, agency bonds, and corporate bonds.  USB charges .06% for their services.

 

Mark Bayma reported that he has spoken with David Lynn at Merrill Lynch.  Mr. Lynn’s portfolio consists of 650 HOA’s, and he recommends that his clients invest primarily in CD’s.  Merrill Lynch .026% for their services.

 

MOTION (MB,JG) to open an account with Merrill Lynch, with $100,000 from the USB account when the cash is available. The motion carried.  New account forms and signature cards will be available for board signature at the April meeting.  The UBS account will be maintained and the Board will monitor both accounts to determine if one performs better than the other.

 

MAINTENANCE REPORT

Phil Greer provided the Board with a status report with regard to maintenance requests and repairs. 

 

Pool Keys.  Phil presented an estimate for re-keying the pool areas. Decision was tabled pending a revised bid for converting the locks on the inside of the gates to keyless thumb-latch and for installation of wire mesh on the gate and fence to prevent un-authorized access. MOTION (MG,KH) to order customized red key-tags for an approximate cost of $400.  The motion carried.

 

MANAGEMENT REPORT

Website.  Dan Kowalewski attended the meeting to discuss website content.  All content will be forwarded to Dan by Horizon Management, including but not limited to newsletters, ERC communications, meeting dates and announcements. 

 

Landscape Maintenance Contract and Flower Program.  The Board reviewed the landscape maintenance contract proposals and seasonal flower program proposals submitted by GS Brothers and Mulligan Landscape Maintenance.  It was agreed that the maintenance contract will remain with GS Brothers, with a monthly fee of $4,400.  MOTION (MB,JG) to accept GS Brothers’ Flower Program for three seasonal color changes for a cost of $380 per month ($4,560 annually) subject to confirmation that the seasonal flowers in the South Pool area are included.  The motion carried.

 

Refuse/Recycling.  Anticipating that the refuse contract with Allied Waste will be cancelled at the end of the term (September 30th), Horizon Management will ask Consolidated Disposal Service to look in to recycling options.

 

 

 

 

Governing Documents.  The Board was provided copies of the current CC&R’s, Rules and Regulations and Board Policies, along with a boiler-plated set of CC&R’s for the purpose of review.  The Board will consider re-stating the CC&R’s to bring them in to compliance with current law and to amend the insurance provisions to hold homeowners responsible for the deductible on the master insurance policy if the damage to the common area is caused by an event within their unit, such as a kitchen fire or a toilet overflow.

 

Board Education.  Mark Bayma, Joe Grasso and Karen Harrison attended the Essentials of Community Leadership workshop offered by Community Associations Institute’s Greater Los Angeles Chapter on February 24, 2007 and found it to be very valuable.  MOTION (KH,MB) to establish a policy that all board members will be required to attend this workshop.  The motion carried.  Board education will be budgeted for in the future so that board members can take advantage of the other educations opportunities offered by CAI-GLAC.

 

NEXT MEETING AND ADJOURNMENT

There being no further business before the Board, the meeting was adjourned at 9:30 p.m.  The next meeting will be held at 7:30 p.m. on Thursday, April 12, 2007 at Resurrection Lutheran Church.