VILLAGE PALOS VERDES 

HOMEOWNERS ASSOCIATION

BOARD OF DIRECTORS MEETING

FEBRUARY 14, 2008

MINUTES

CALL TO ORDER

The meeting was called to order at 7:30 p.m. by Carma Hardin, President.

MEMBERS PRESENT

Carma Hardin President

Joe Grasso Vice President

Mark Bayma Treasurer

Sandra Felando Secretary

Michael Talbot Member at Large

MEMBERS ASBENT

ALSO PRESENT

Phil Greer On-site Maintenance

Joanne Peña Horizon Management

Homeowners:  Sirl Ademenko, Michael Bencsh, Maribeth Borowski, Pierre Droubay, Margie Hersh, Ken Johnson, Judy and Dave Kline, Dave Silverberg.

EXTERIOR RENOVATION PROJECT

Carma Hardin reported that the Board and the ERC have met with the short-list of candidates.  The evaluation process is taking place now, and the evaluations will be well documented.

OPEN FORUM

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

PREVIOUS MINUTES

MOTION (JG,SF) to approve the minutes of the January 10, 2008 board meeting, as submitted.  The motion carried.  

FINANCIAL REPORT

As of January 31, 2008, there was $27,016 in operating assets and $784,714 in reserve funds.  

Reserve Investments.  MOTION (MB,CH) to re-invest the $75,000 Certificate of Deposit coming due on February 25, 2008, for three months.  The motion carried.   

Delinquencies.  The Board reviewed the status of delinquencies, and discussed the impact that increased delinquencies will have on cash flow going forward.  Two seriously delinquent accounts are in foreclosure.

MAINTENANCE REPORT

Phil Greer provided the Board with a status report with regard to maintenance requests and repairs.  The heavy rains of late January and early February caused at least twenty six (26) leaks.  Phil and Barry had to stop deck repair work to deal with the emergency leak repairs.

MANAGEMENT REPORT

Landscaping.  The Board reviewed a proposal submitted by GS Brothers for filling in the bare areas along Palos Verdes Blvd. but tabled decision pending receipt of further information.   

Request for Reimbursement.  The Board reviewed a homeowner’s request for reimbursement for carpet replacement after a sewer back up caused damage in the bonus room.  The Board tabled decision pending receipt of further information.

NEXT MEETING AND ADJOURNMENT

There being no further business before the Board, the meeting was adjourned at 8:15 p.m.  The next meeting will be held at 7:30 p.m. on Thursday, March 13, 2008 at Resurrection Lutheran Church.  

Village Palos Verdes Homeowners Association

Board of Directors Meeting

February 14, 2008