MOODY POINT COMMUNITY ASSOCIATION

BOARD OF DIRECTORS MEETING MINUTES

The Board of Directors of the MPCA met on Monday, October 7, 2002 at Bill Bunting’s home. Present were Bill Bunting, Linda Edwards, Dick Johnson, Gary Marmontello, Adam Moore, Peg Regenbogen, and Les Regenbogen, presiding.

The meeting was called to order at 7:00 p.m. and the minutes of the prior meeting were accepted. Peg Regenbogen reported that 63 per cent of the home/unit owners had requested to receive the board meeting minutes via email. The minutes of the September 19, 2002 meeting began this transmission which, with very few exceptions, was successful. The owners who chose not to receive the minutes via email will continue to receive a hard copy from Great North Property Management.

Treasurer’s Report: Linda Edwards reviewed the specifics of the operational expenses and indicated that the annual fees were beginning to be received. An item of note is that almost $2,000 of the $3,000 annual budget for operation of our water system was expended repairing the three water outages during August and September.

A capital reserve account has been established per the vote at the annual meeting. It is a money market account set up with Vanguard and will be separate from the Vanguard account used for water tie-in fee accumulation. Gary Marmontello moved, Bill Bunting seconded and the board passed that “we define the new capital reserve account as an account for the purchase or replacement of capital assets having a life of five years or greater, e.g. replacing sewer pump, new dock, screenhouse roof”.

Water Tie-In Fees: Les Regenbogen presented a memo to the board from Doris Dennehy covering her meeting with Amos Blanchard, AMB Custom Structures, seeking recovery of water tie-in fees that he is temporarily withholding. After discussion of the memo and its intent, Adam Moore moved, Bill Bunting seconded and the board passed that “the water tie-in fees collected by the MPCA are henceforth to be expended only for capital costs of meeting Moody Point’s full buildout water needs. Should it be determined that monies will be in excess to buildout needs, transfer of funds may be made to a capital reserve account”. The board expressed its appreciation to Amos Blanchard and Doris Dennehy for their constructive assistance and cooperation in this matter.

Committee Reports:

Environmental Committee: Peg Regenbogen reported that on September 14, 2002 a group of ten home owners participated in the annual shoreline cleanup. The next committee meeting will be on October 14, 2002.

Web Site Committee: Les Regenbogen informed the board, per Jim Fitzpatrick the committee chair, that a “skeleton” of a site has been developed and that within one to two weeks testing of access and other basics will begin.

Community Life Committee: Linda Edwards reported having a probable core group comprised of one resident from each association. They intend to meet within the next few weeks and Linda hopes that the core group will be in full operation by the end of the year.

Water Systems Group: Dick Johnson reported that the full committee had its initial meeting. Its first task is to arrive at a reasonable figure to be used for water consumption, both potable and irrigation, per unit at buildout. Dick discussed other items and assignments needed to be clarified and completed prior to the December membership meeting.

Open Matters:

Insurance Coverage: There will be a meeting October 9, 2002 at Great North Property Management with board members and our insurance agent to clarify any insurance questions relative to the individual home owner associations as well as MPCA.

Repairs and Maintenance: Adam Moore reported that repairs noted from the 2001 buildings and grounds walkabout list had not been done because the budget monies were expended for more immediate needs. A comprehensive, photo-illustrated, loose-leaf master guide to facilitate buildings and grounds maintenance is being compiled.

Property Management Review: Copies of both the 1998 Moody Point Request for Property Management proposal and the Great North Property Management Agreement were distributed. The board was requested to review and be prepared to discuss modifications and updates at the next board meeting.

Mailbox Replacements: Doris Dennehy had been requested by the board to complete the mail box project by upgrading and replacing the two remaining older units. Her documentation covering this work was presented to the board and new boxes will be delivered and installed by the end of the year.

Update Telephone Chain: Board members were asked to update their respective associations of the Moody Point Telephone Chain list and have it ready for final review at the next board meeting. Once approved, the board will redistribute to all members.

Policy Handbook Draft: A draft of a policy handbook to be distributed to all current owners, as well as new purchasers/renters, was handed out. The board was asked to review, revise, and present these modifications at the next board meeting.

Dumpster Monitoring: Recent dumpster overflow has been unsightly and unhealthy. Options were discussed, cost being a consideration. The Hill Association volunteered to provide a monitor to determine when additional pickups would be necessary. During October, the board has arranged for extra pickups.

Other Business: Bill Bunting raised the question as to the true responsibilities of the MPCA board. Discussion followed with Les Regenbogen handing out excerpts of the Moody Point Community Association By-Laws specifically detailing the responsibilities of the Board of Directors.

Further to last meeting’s call for 2002/3 goals, Adam Moore presented written observations and recommendations concerning a number of areas he feels merit the Board’s attention. Priorities were suggested and discussed. These topics will begin appearing as action items at forthcoming meetings.

The board began considering dates for the December Special Meeting of the membership.

The next meeting will be held on November 4, 2002 at Linda Edwards’ home at 7:00 p.m.

There being no further business, the meeting was adjourned at 9:08 p.m.

Respectfully submitted,

Peg Regenbogen

Secretary