MINUTES BOARD OF DIRECTORS MEETING
DECEMBER 12, 2009
MEMBERS PRESENT: Joe, Nancy, Deb, Crystal, Elaine.
TREASURER'S REPORT: A discussion of reserves: Fran stated that 60% each year goes toward roads, 20 percent pool and building, and twenty percent general. Gary spoke on the Delaware Common Interest Ownership Act which recently went into law and how it places parameters for monies that need to be held in reserves by HOA's and establishes minumum levels and annual calculations for long term needs. He felt we were adequately funded but we should draft a reserve study to support this. It will demonstrate to owners and buyers that we are financially stable.
ARCHITECTURE: No new projects/ #89 paid fine; #171 removed No Trespassing signs; #73 has moved,but not removed dog house and will get follow up.
LANDSCAPING/DRAINGE/POOL/PONDS/ROADS: Nothing new to report
OLD BUSINESS: Homeowner who wanted to discuss Blue Heron ditch was not present so no discussion.
