HUNTER’S RUN CONDOMINIUM ASSOCIATION, INC.

BOARD OF DIRECTORS MEETING MINUTES

Monday, January 14, 2008

I. CALL TO ORDER

The January 2008 meeting of the Board of Directors of the Hunter’s Run Condominium Association, Inc. was held on the evening of January 14, 2008 at the Ross University Hills Library, 4310 E. Amherst Avenue, Denver, Colorado 80222.  The meeting was called to order at 6:05 p.m. by Mary Ann Kill.  Board Members present: Mike Westcott, Bonnie Ra, Mary Ann Kill, Mike Whalen, Bob Swedberg and Georgia Swearingen. Absent, Mark Overton. Representing management: Kim Maguire with Premier Property Management, LLC.  Homeowner in attendance; Julie Wafer.

II. REVIEW AND APPROVAL OF MINUTES

The minutes from the August 20, 2007 meeting were reviewed by the Board.  Mr. Swedberg motioned to accept the minutes as written. Seconded by Mr. Westcott. The Board unanimously approved the motion.

III. MANAGERS REPORT

                  a. Ms. Maguire presented month ending December 31, 2007 financials. Ms. Maguire noted that the Reserve Savings at Castle Rock Bank had funds in it that should be invested in a higher rate such as a CD.  Ms. Maguire recommended putting $80,000 into a one year CD.  Ms. Kill motioned to have Ms. Maguire look for the best rates and withdraw $80,000 from the Castle Rock Reserve account and place it into a one year CD. Ms. Swearingen seconded the motion.  Motion passed unanimously.

                  b. Ms. Ra motioned to approve the financial as of and for the month of December 2007. Seconded by Ms. Kill. Motion passed unanimously.

                  c. Ms. Maguire reviewed the delinquent summary of homeowners. There are several homes in foreclosure or in bankruptcy. Once foreclosures are finalized the Association will have to write off as a bad debt.

                  d. Ms. Maguire covered the Audit for 2006. It was noted that the audit was extremely late and we should look for a different CPA to do the Audit; one that is more timely.  It was noted that this CPA has been doing the Associations Audit and Taxes for more than eight years.  The Board instructed Ms. Maguire to speak to the CPA and also seek other bids for the Audit and Taxes for 2007. Ms. Ra motioned to accept the Audit as presented pending final bank statement response. Seconded by Ms. Kill. Motion passed unanimously.

IV. OLD BUSINESS

The Board discussed the appointment of Officers for 2008.  It was agreed by all Board Members the following Board of Directors would hold the following Officer positions: Mark Overton President Bonnie Ra Vice President Mary Ann Kill Treasurer Page 2 Hunter’s Run Condominium Association Meeting Minutes January 14, 2008

Michael Westcott Secretary Michael Whalen Member at Large Robert Swedberg Member at Large Georgia Swearingen Member at Large

It is noted that all of the listed Board of Directors may be signers on all bank accounts for the Association.

V. NEW BUSINESS

An insurance resolution was discussed. Ms. Maguire will draft and have our agent
review and possibly our attorney if necessary.

The Radiant Lighting contract and Premier Property Management contract was renewed for a one year term; ending December 31, 2008.

Improvements to the gutters at Building H and G have been made.  Due to the position of the gutters, the snow melts and freezes so we are hoping the larger gutters may help with this problem.

Ms. Maguire will seek contracts for the same pool and pond contractors; since we are very happy with their service.  Ms. Maguire was asked to have the pond contractor look for new sprayers for the fountains.

Mary Ann Kill will set up a spring walkthrough in May with the Board to review improvements for 2008.

It was discussed that E107 and E108 should split the $2500 insurance deductible as it was the owners request at both units to file the insurance claim.

There was some concern about the snow crews with Urban Farmer not showing up.  Ms. Maguire will find out what is going on with that issue.  

VI. CORRESPONDENCE

There is no current correspondence.

VII. ADJOURNMENT

Ms. Kill made a motion to adjourn the monthly meeting at 7:20 p.m.  Mr. Whalen seconded the motion.  Motion passed unanimously.  

The next meeting will be held on March 10, 2008 at 6 p.m.  The meeting will be held at 6:00 p.m. at the Ross University Hills Library.

The Board then went into Executive Session to discuss a Client/Attorney issue.

Respectfully submitted,

Kim Maguire

Kim Maguire, Community Manager