RECORD OF PROCEEDINGS
BOARD OF DIRECTORS' QUARTERLY MEETING
THE KNOLLS VILLAGE TOWNHOUSE ASSOCIATION

A quarterly meeting of The Knolls Village Townhouse Association was held on Tuesday, January 4, 2005 at the association clubhouse at 7:00 PM. Present were directors Ken Holloman, Barbara Arnold, Martin Jepkes, Bob Evans, Barbara Stokes, Loren Rohl and Kathleen Sutton; Committee Chair Don Boyson; and Manager Warren Deutsch. Joan Rowe was present to record the proceedings. Three homeowners were also present at the meeting.

A motion was made by Barbara Arnold and seconded by Ken Holloman to accept the financial statements as presented. The motion was passed.

Ken Holloman made a motion to approve the minutes of the December 7, 2004 meeting as written. The motion was seconded by Barbara Arnold and was passed.

Warren Deutsch stated that a walk through is scheduled with Brannon Sand & Gravel regarding the correction of the sub-standard finish on some of the asphalt.

Don Boyson, Architectural Control Committee, reported that the estimate from Eastern Slope for the 2005 painting is $950.00 per unit. About 90% of the garage doors in the community have been replaced.

Bob Evans stated that the association may have to look into desk top publishing for future newsletters. The cost of advertising in the newsletter could be increased to cover increased publishing costs. The next issue is scheduled for March.

Barbara Arnold stated that the reserve balance is $430,691.00.

In the next 90 days, the Board will hold meetings regarding the painting contract for 2005 and review current pool operations and discuss ways to reduce pool expenses. The Board will also walk through the area to determine landscape enhancement projects for 2005. Crack filling and seal coating work will be done in the spring. The Board will address questions regarding the updating and running of the association web site. Ken Holloman will respond to a noise complaint at 2801 East Geddes Place.

There being no further business, the meeting was adjourned.