ROLL CALL:

STAFF:

CALL TO ORDER:

REVIEW AGENDA:

APPROVAL OF MINUTES DATED: January 20, 2010

TREASURER’S REPORT: (Please see the Office for attached/enclosed as none were provided with these minutes)

MANAGER’S REPORT: Steve Horsmon presented the Manager’s Report (inserted below).

General Office, Personnel, and Budget Updates:

1. The new GVM map project is finished!  Final review and approval will be discussed by the R&R board in New Business today.  We raised $4,000 in advertisements to be placed on the back of the map.  The total cost of printing and folding 3000 color copies and 18 hours of Illustrator time is $3,620.  We plan to continue selling the maps for $1.00.  Initial bulk orders can be printed for about .70 each.
2. The Road & Recreation budget study is ready for meetings to start during the week of 2/22/10.  Water and Sewer budgets will be ready shortly after that. Linda Petrie agreed to chair the Road & Recreation Budget Committee and Cal Bruxvoort agreed to chair the Water & Sewer Budget Committee.
3. We have included new educational articles in your package this month on Meeting Minutes, Usury Laws (interest penalties), and Medical Marijuana on the Job.  We’ll need to discuss the Usury Laws and GVM late fee policy in a future meeting.
4. We need to determine the date for the 2010 Annual Meeting during New Business in both meetings today.
5. Contacted our general counsel about the conflict between Colorado HOA law and the GVM By-Laws regarding financial audits.  Colorado Law requires audits only based on HOA income and request of 1/3 of the membership.  GVM By-Laws state that an audit will be done “not less frequently than every 4 years”.  Cost estimates range from $7,000 - $15,000.  We may want to consider an “Agreed Upon Procedures” methodology.

Road and Recreation Association

1. We accomplished some road grading despite the freezing temperatures.  Gate 10, Gate 6, Gate 1, and parts of the 12^th Filing were done with a much needed snow cover to help pack them back down.
2. We started planning construction for the last mailbox cover at Gate 3.  We plan to complete this in March – weather permitting.  Material quotations average $1,200 for all material.  Plans will be for a 120 sq. ft. structure in order to avoid County permitting.
3. We have sketched the proposed porch cover for the east side of the office.  Received truss quotation ($700) for budgeting purposes.  In addition to the Glacier Gals $1,000 donation, a resident has donated a large pine beam and we have offers of contractor help as well.  This will be a springtime project.

   On the subject of the General Office item E. The Board requested that the manager contact a CPA who is experienced in auditing HOA’s and set up a meeting with both boards to discuss audit options and cost.

   On the subject of Road and Recreation Association item C.  The board suggested that the manager verify Larimer County permit requirements.        

COMMITTEE REPORTS:

COMMUNITY ACTIVITY REPORTS:

1. Glacier Gals: Anne Rodenbeck, presented the report for the Glacier Gals. Anne presented a synopsis of upcoming Glacier Gal events.  Anne also stated that aluminum is up to .45/pound. 

OLD BUSINESS: (None)

NEW BUSINESS:

1. Final GVM map review and authorization to print:Mike McKay moved to approve the GVM maps with  the suggested changes. Unanimous-motion passed.
2. Determine date for 2010 Annual meeting. Cal Bruxvoort moved that the Annual meeting will be held June 19, 2010. Unanimous-motion passed.

     Mike McKay reported that he will be unavailable June 19^th. In Mike’s absence, Linda Adams agreed to present the Treasurer’s report. Board members also agreed to host the community party June 18, 2010.

3. March Board Meeting Date:  Due to spring break conflicts the manager and secretary will not be able to attend the 03/17/10 board meeting.  Linda Adams moved to move the March meeting to 03/24/10. Unanimous-motion passed.
4. Lien Assignment:  The manager informed the board that an investor is interested in purchasing the assessment liens the association has against a foreclosed home within GVM. When a property goes into foreclosure the association is allowed to collect only the dues that came due 6 months prior to the recording of the foreclosure.  The party that purchases the lien will pay the association 100% of our lien.  Ted Rodenbeck moved to allow the private party to purchase the assessment liens. The board also agreed to empower the GVM manager to act on behalf of the board in allowing investors to purchase lien assignments when they are related to foreclosed properties. The contract the manager signs should say “The Association does not warrant or guarantee that the Assignee will become owner of the Property upon exercise of such right of redemption”.   Unanimous-motion passed.

PUBLIC INPUT: (None)