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

A regular meeting of the Knolls Village Townhouse Association was held on Tuesday, March 7, 2006 at the association clubhouse at 6:30 PM. Present were directors Barbara Arnold, Don Rothschild, Cheryl Scher, Loren Rohl, Kathleen Sutton, Dick Campbell and Barbara Stokes; Committee Chairs Fred Langford, Ilena Lea, Harold Arnold, Don Boyson and Marilyn Heinle; Pool Manager Jean Oatman; and Manager Warren Deutsch. Joan Rowe was present to record the proceedings. Also present at the meeting were five homeowners.

A motion was made by Don Rothschild and seconded by Dick Campbell to approve the financial statements as presented. The motion was passed.

Barbara Arnold made a motion to approve the minutes of the February 7, 2006 meeting as written. The motion was seconded by Don Rothschild and was passed.

Fred Langford, Web-Site Manager, stated that a hit counter has been installed on the web-site. Some of the pages have been renamed to more accurately describe the page.

Marilyn Heinle, Hospitality Committee, reviewed the plans for this year: a coffee will be held on May 13, 2006; the ice cream social on July 23, 2006; the Labor Day Barbecue on September 4, 2006; and a "meet the candidates" coffee on October 7, 2006. Another event will be announced later.

Ilena Lea, Clubhouse Committee, reported that the clubhouse was reserved 9 times in February.

Don Boyson, Architectural Control Committee, stated that there are 31 old garage doors remaining in the area. The committee needs 2 more volunteers. At the last committee meeting, 18 issues were discussed. A walk through of the 81 units to be painted this year will be done in late March or early April. Letters will be sent to the owners of units that need repairs before the August painting.

Harold Arnold, Newsletter Editor, stated that the next issue will be delivered on Saturday, March 11th.

Barbara Arnold, Treasurer, reported that the reserve funds total $402,580.00 and the painting fund balance is $26,972.00. The Finance Committee recommended some changes to the investment policy.

A motion was made by Don Rothschild and seconded by Dick Campbell to change the investment policy to state that Certificates of Deposit may be purchased from FDIC insured institutions within the United States. The motion was passed.

Warren Deutsch, Maintenance Manager, reported that the drainage project of the City of Centennial should be completed in a couple of days, except for sod and irrigation work. Warren also reviewed proposals for asphalt, concrete and landscaping work. Thirteen requests for shrub removal have been received. Warren suggested that the front bed areas of the buildings where shrubs are removed be improved.

At a special meeting after the Board's walk through of the area on February 11, 2006, a motion was made by Cheryl Scher and seconded by Dick Campbell to approve the proposal from Arbor Garden Tree and Landscape Service for tree removal and stump grinding. The motion was passed. Barbara Arnold made a motion to approve the 2005 Audit Report as prepared by Bill Omeron. The motion was seconded by Kathleen Sutton and was passed.

Jean Oatman, Pool Manager, stated that the pool attendants from last year will be returning for this season. One more alternative attendant is needed. The pool will open on Saturday of Memorial Day weekend and the daily hours will be 10:00 am to 8:00 pm.

Barbara Arnold presented a five year reserve repair plan and a projection of the reserve expenses for these projects. An increase in dues will be needed to achieve the necessary reserve fund balance. The Finance Committee favors an increase of $10.00 per month in 2007 and $10.00 increase per month in 2008.

A motion was made by Barbara Stokes and seconded by Dick Campbell to  begin removal of junipers. The motion was passed.

Barbara Stokes made a motion to approve  improving the landscaping at the south entrance. Dick Campbell seconded the motion and it was passed.

Dick Campbell made a motion to approve the proposals from Metro Pavers (concrete)  and from Lafarge (asphalt).

There being no further business, the meeting was adjourned.