ATTENDANCE:

STAFF:

CALL TO ORDER:

REVIEW AGENDA:

APPROVAL OF PREVIOUS MINUTES DATED:  January 20, 2010

TREASURER’S REPORT:

MANAGER’S REPORT:

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.

Water & Sewer Association

1. Completed a revised draft for the GVM Community System Water Shut-Off procedure.  This will be reviewed and discussed during New Business in today’s meeting.
2. Met with a trenching contractor to assess the cost of using rock trenching for a new deep bury project.  This option and the related costs will be discussed during New Business in today’s meeting.  The proposed deep bury section is an 1100 ft. portion on the west side of Maroon Bells circle and has the highest heat tape utility cost.
3. A sewer main in the 12^th Filing community system froze for second time.  Working on the cause at this writing.  We will make adjustments to the one septic system on this line to increase water flow.

   On the subject of the General Office item E. The Board requested that the manager contact a CPA and set up a meeting with both boards to discuss audit options and cost.

OLD BUSINESS:

1. Community System Service Shut-Off Procedure: The board revisited Procedure #111401, Suspension of water service.  The manager prepared a proposed draft of the updated policy. The board discussed the policy and added an additional provision that includes the current billing policy, in that if the water is shut off due to non payment, the member will be required to continue paying full service fees.   The manager will prepare a final draft for board consideration at the next meeting. 

NEW BUSINESS:

1. Maroon Bells Deep Bury Proposal:  The manager met with a Temple Construction, a trenching contractor to assess the cost of using rock trenching for the Maroon Bells deep bury project.  The trenching bid comes in at about $10,000 more than what it will cost the GVM staff to complete the project using a blasting contractor. The deep bury section is an 1100 ft. portion of Maroon Bells Cir. The manager stated that this area is solid rock and blasting may present a safety hazard to homes below the blasting area. Trenching would be faster and reduce the time (two weeks) that the road will be closed.  The Board suggested the manager contact Temple Construction and asks them to reduce the bid by 10%.  If the company agrees to reduce their bid the Board will approve the trenching proposal.
2. Determine date for 2010 Annual meeting:  The board agreed by consensus to set the annual meeting date to June 19, 2010.  They also agreed that the community party will be held 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.  The board agreed by consensus to move the meeting to 03/24/10. 
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.  Tom Bizzell 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)

Jerry Wood  moved to adjourn at 3:53 pm. Unanimous-motion passed

Executive session to be held after Road & Recreation meeting.