Preserve Cardinal Creek Maintenance Association Meeting

Wednesday October 5th, 2011

Preserve @ Cardinal Creek Maintenance Association Meeting

The meeting started at 7: 00 pm by President Deb Jones. A roll call of board members present was initiated and all were present. President Deb Jones read the meeting minutes from 06-22-11. These minutes were approved by Barb Peczkowski (442 Autumn Drive) and seconded by Sharon Uhl (120 Bald Eagle Lane). Secretary Jack Jensen documented the meeting minutes. Eighteen homeowners (including the board) were present for the meeting.

Lisa Mazziotta from Schrank and Associates presented the current financial report (as of 10-5-11) to the homeowner’s which shows a current operating account balance of $3642.70. The current outstanding account receivables balance is $37,886.26. The current accounts payable balance is ($15,927.50). The total capital account balance is $25,601.46.

Old business reviewed: Pool was closed the week after the Labor Day holiday (9-5-11). The height of the fence surrounding the pool is still being reviewed to determine the cost to raise it to a level which would not allow anyone to scale it and enter the pool area unauthorized. This will have to be addressed prior to the opening of the pool in 2012. The pool heater status is still researched with Haden HVAC recommending that a part be purchased which would most likely repair the heater. Board is still trying to determine if the part can be purchased and installed or if this will need to be repaired by All Seasons who completed the replacement of the drain bringing the pool into compliance with the Federal guidelines. Sale of the development was covered by Lisa Mazziotta from Schrank and Associates and Capital Investments has purchased the development. Stan Smagala is the manager of this company. Several lots and single family homes were sold recently during the auction held by Inland Brokerage.

New business discussed: Homeowners questioned if the new owners (both single family homes and empty lots) would be responsible for the $600.0 yearly fee assessed to all homeowners and they will be responsible for this fee. Non- payment accounts were discussed and all have been addressed through the attorneys (Keough and Moody). The status of the judgments has been favorable for the association. Several homeowners questioned who Fifth Ave. construction was since they are noted in the sales material for the development and the board will need to clarify their role in the development but they are believed to be builder while Stan Smagala is the financial backer for the development. Owner Stan Smagala arrived at the meeting at approximately 7:20 pm and introduced himself to the homeowners and board. Discussion of his intentions and anticipated role in the association was discussed for the next 55 minutes. An offer by him to continue speaking with any homeowners after the meeting was adjourned presented.

There was no further business brought up before the board.

The meeting was adjourned by President Deb Jones at 8:15 pm.

Respectfully submitted,

______

Jack Jensen, Secretary