Passage Point Board of Directors Meeting

October 25, 2011 3:00 PM MST

Minutes Approved by Board of Directors on 12.6.11

Those in Attendance: Directors: Heiko Meyer, Susan Byers, Bob Steinforth, Gordon Von Stroh, Cheryl Hayden. Association Manager- Bruce Butler. Homeowners Present: Drew Bolin Unit 120.

I. Meeting Called to Order 3:05 PM by the President

II. Approval of the Minutes 9.27.2011. Motion to Approve, Motion Passed

III. Financial Report- Bob Steinforth, Treasurer. $15,800 to the positive.

A. Expenses: Question on Electrical overage to budget. Bruce Butler indicated that other HOA’s were also over budget in this line item by 12%. Bruce will examine the YTD actuals by month to investigate further as to consumption. Water and Sewer expense was also a miss- Bruce this was due in part to the CMCMD accounting change in personnel and some failure to bill “over water” use from several quarters in 2010 on the part of the Metro district (CMCMD).

B. Delinquent Accounts Motion made to deviate from the collection policy. Association agrees to waive the late fees for Owner in #625 for one year provided the amount due is paid and the account kept current from the date the collection letter is executed by the Attorney and the Owner. Motion seconded, Motion passed unanimously. Motion to Accept the Financial Report as presented. Motion Seconded, Motion carried.

IV. Pool Furniture- The Board thanks Cheryl Hayden for providing a proposal for new Polywood furniture and two color samples. One sample is very close to the current color for the tables and the chaise lounge, the other sample (Mahogany) was determined to be too dark. Motion made to accept the proposal quote from Outdoor Living for 4 Chairs, 2 chaise lounges, plus 2 side tables for the proposed amount of $2,431.92 in the lighter color “Teak.” Motion Seconded, Motion passed to purchase this furniture now with an expected delivery date of 10-14 days in time for ski season.

V. Hot Tub Update-Robert Morgan- Aquatic Chemical Solutions. Brought in to assess the items held over from the Hot Tub rehabilitation and evaluate what still needs to be done and what it might cost. PHS is recommending ACS to serve the association in an ”on call” basis. Discussion: Will this Consultant provide the analysis to ascertain if the Contractor “OZ” did what he was contracted to do in his scope of services before the Association pays OZ the remaining the $25K owed to the contractor? The consensus to get all items fully functioning. Motion made to accept ACS’ proposal of $2,464.35 to initiate repairs and provide the report to PHS. PHS will report to the Board the findings. Bruce Butler agreed to work with Robert Morgan to review the original contract from OZ to assess in his opinion, the scope of the contract and in his opinion and quantify, to what extent, what was completed and installed as intended, and the electrical in the building is up to code, etc.

VI. Towel Rack- A new rack was fabricated and set to be installed shortly. VII. Balcony Condition Survey- Hulm is compiling a report/assessment of each Balcony that was identified with issues. Joe Hulm reported that many of the coatings are in good shape, however, at the time the exterior building was painted, the decks were also painted Painting on decks should not have been applied, this is what some homeowners report as peeling. The elastomeric coating underneath does not accept paint. The deck coating was examined and is doing its job.

VIII. ADA Ramp- Patching Complete

IX. S.A Miro Engineering Report- Report is not yet completed, however they have completed all surveying, ground penetrating radar, and core sampling. Next step is to have a conference call with Owner participation with the Engineer so homeowners can ask questions (after the report is finished and distributed) to the Board and Owners.

X. Daily Maintenance Report- Get electronically to Cheryl Hayden, Bob Steinforth will review with Dennis, to ensure items are getting done. Copper will begin following the schedule (winter) on November 4, 2011.

XI. Venting- 4th Floor Bathroom Exhaust – Airflow to the units has been restored, the airflow in the stacks need to be balanced. The solution (proposed) is to examine the units in Owner’s units that have complained, remove and clean the vent cover and verify they are drawing at the same rate of air regardless of their proximity to the fan. Approximately 45 vents are affected and this was determined to be an item to discuss in the 2012 budget exercise. With an approximate expense of $3,000.

XII. Bike Storage Policy- Discussion of policy, and review of the rules and issues of locks and other items stored in the area. The President’s Newsletter in November will cover the high points of the bike storage policy and ask for voluntary compliance from Owners to remove locks, child carriers and tires from the area. Motion made for PHS to take the Bicycle Storage Policy to Hindelmen- Sanchez for review and comments. Motion seconded, motion passed.

XIII. New Business

A. Water Damage- Drywall Repairs to Units 414, 514, 613, 626. Motion made to have Bruce Butler initiate claim discussions with Farmers on the units 514, 613, 626. Unit 414 was discussed to be evaluated with S.A.Miro , once the report is submitted to the Board.

B. PP Unit 120- Board reviewed the Homeowner request to waive one quarter’s dues and while the issues which have plagued the homeowner are unfortunate, and have the Board’s compassion, the request was denied.

C. The Next meeting was set for December 6, 2011, 3:00 PM MST. Meeting Adjournment- Having no other business, the meeting adjourned at 4:58 PM

Respectfully Submitted, Susan Byers, Secretary