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, May 6, 2008 at the association clubhouse at 6:30 PM. Present were directors Doug Hall, Cheryl Scher, Barbara Stokes, Dick Campbell and Rick Olson; Committee Chairs Fred Langford, Ann Eastridge and Don Boyson; Pool Manager Jean Oatman; and Manager Warren Deutsch. Gene West, RBC Wealth Management, was also present at the meeting. Joan Rowe was present to record the proceedings. Also present was one homeowner.

A motion was made by Doug Hall and seconded by Rick Olson to accept the financial statements as presented. The motion was passed.

Barbara Stokes made a motion to approve the minutes of the April 1, 2008 meeting as written. The motion was seconded by Cheryl Scher and was passed.

Gene West, RBC Wealth Management, reviewed the association’s portfolio.

Fred Langford, Web-site Manager, stated that the minutes for March, the April newsletter, the balance sheet for March and the May agenda have been posted on the web-site. Fred is working on a file that will contain all the documents that are required for the current rental policy that can be downloaded by absentee owners.

Ann Eastridge, Special Events Committee, reported that a pool side party will be held on Memorial Day, May 26th from 11:00 am to 1:00 pm. There will be musicians, door prizes and a mini-brunch. Ann also stated that the deadline for the next newsletter is 5/9/08.

Jean Oatman, Pool Manager, reported that the 2008 pool rules are unchanged and she has been doing clean-up in preparation of the May 23rd opening. The small pool will be painted this year. If the pool gate can not be replaced prior to the opening of the pool, the project will be postponed until after the season.

A motion was made by Dick Campbell and seconded by Cheryl Scher to increase the pool staff salaries by 5% for this season, purchase a new umbrella for the pool staff and purchase a “boom box” for the pool area. The motion was passed.

Don Boyson, Architectural Control Committee, stated that 12 items were approved by the committee in March and April. On Saturday, a final walk through will be done of the buildings painted this year. The paint committee recommends that, starting in the spring of 2009, the painting be done on a six year cycle. Each cycle would be 60 to 65 units. The committee may take a look at the color choices before the next cycle.

Doug Hall, Treasurer, stated that the reserve fund balance is $383,279.00 and the painting escrow fund balance is $22,094.00.

Warren Deutsch, Maintenance Manager, reported that the fence painting project, the concrete work and retaining wall replacement have been completed. The sprinkler system has been activated and re-grading projects are continuing. The association will be hiring temporary help for $10.00 per hour. Turf areas have been fertilized and post-emergent weed control will be applied this week. The asphalt work will begin soon. Bids are being sought for painting the interior of the clubhouse. Juniper removal will resume after the opening of the pool.

Barbara Stokes, Landscape Committee, stated that Loren, Warren and Neil from Prairie Eden will meet regarding the re-landscape project and work may begin in two weeks.

The 2007 Annual Audit Report is on the web-site.

Cheryl Scher reported that 50 families participated in the community garage sale and the advertising and other expenses totaled $89.00.

An estimate for updating the reserve study has been requested from Association Reserves.

There being no further business, the meeting was adjourned.