Board of Directors Meeting
January 17,2006
Exit Real Estate
11555 Lake Underhill Road


Board members present: Dennis Horazak, Lee Blackwell, and Mike Kranz, Myron Davis and Ron Wiley. Rex Bowman, the community manager, was also present along with 2 (two) homeowners.

1. Call to Order
President Dennis Horazak called the meeting to order at 6:30 pm

2. Certify Quorum
All 5 Board members were present, thus establishing a quorum

3. Proof of Notice
Proof of notice was given

4. Opening remarks
a. Dennis did not need to read the protocol for the meeting since all attendees had heard it before.

5. Off- duty Officer Chuck Kochanowski reviewed events of the past and explained the plans for the future. The Board was asked if they approved of the hours being spent by the off duty police and they agreed that the scheduled hours would be enough. Chuck asked that anyone seeing a traffic a violation to please try to get the tag number if at all possible and report it to the Traffic Office at 407.836.0800.

6. Approval was given for the agenda.

7. Approval of minutes
Minutes of the November 15, 2005 Board meeting were presented. A motion to accept the minutes was made by Mike Kranz seconded by Lee Blackwell and unanimously approved by the Board.

7. Financial report

a. Myron gave the Financial Report.
b. Several questions were asked about large balances in pre-paid accounts. Myron agreed to evaluate and Board will review.

8. Committee Reports

a. Lee explained the new ARC form supplied by the master does not have an extra copy for the HOA. Lee agreed to make a copy of each new ARC application for our HOA records before it gets turned back in to the master association.

b. Ron discussed the need for different eyes to make inspection the next time. He said management should make or at least be a part of the next inspection since that is part of their contract. Lee explained that it would be six weeks before the next inspection was needed. Ron agreed to go with management on the next inspection.

c. Lee announced the number of violations was down to 14 and commented that the homeowners were doing a great job correcting problems. Homeowners will be commended for their work in the next newsletter.

d. Ron passed the photos around of roofs needing repair or replacement. Ron explained only three homes warranted our attention. Ron agreed to talk with the homeowners first, then, if needed, write the letter that would be sent to the homeowners.

e. Lee reported for the Entrance Refurbishment Committee. The required Renew grant report was turned in 1-4-06 by Lee. Lee reported that holes for the new signs would be drilled on 1-20-06 and the brick mason would start work on 1-23-06. No permit is required per Lee. The fill for the wall was discussed. Either gravel or Styrofoam was the options. The board agreed that Styrofoam would be the better option because of its light weight against the column walls.

Dennis gave the newsletter report. The deadline for the next newsletter will be around 2-20-06. Winners of the Holiday Lighting contest will be featured in the next newsletter, and will be posted on our website.

9. Unfinished Business had nothing to report

12. New Business

a. Preparations for the 5-16-06 annual meeting were discussed.
b. Draft proposals for driveway painting restrictions, street tree options, and buyer fee for purchase of a home in Cypress Isles was discussed. Several changes and modifications were discussed, and the versions attached to these minutes were tentatively agreed to. These three items will be voted on by the homeowners at the annual meeting.

13. The next meeting will be on March 21, 2006.

14. Adjournment - Motion to adjourn by Mike and seconded by Ron, unanimously passed. The meeting was adjourned at 8:40 pm.



Minutes submitted by
Rex Bowman, Manager

Proposed Ballot Questions for May 16th 2006 Annual Meeting


Ballot Question 1 - Should Article VIII of the Covenants, Conditions & Restrictions of Waterford Lakes Tract N-25A Neighborhood Association, Inc. (Architectural Control) be amended to include the restriction: "All modifications to driveways, including but not limited to painting or staining; paving with any paving material, including concrete, asphalt, brick, flagstone, stepping stones, and pre-cast patterned or exposed aggregate concrete pavers; or extending or expanding any driveway, must be approved by the ARC prior to installation." ?
[ ]yes [ ]no

(Street Tree Option)

Ballot Question 2 - Should Article VIII of the Covenants, Conditions & Restrictions of Waterford Lakes Tract N-25A Neighborhood Association, Inc. (Architectural Control) be amended to include the permission: "Trees planted between sidewalk and curb ("street trees") shall be maintained in live, healthy and growing condition, properly watered and trimmed; except that street trees that fail to thrive due to poor soil, inadequate root structure, or for other reasons beyond the ability of the average Owner to diagnose and remedy, shall be either replaced or removed at the discretion of the Owner" ?
[ ]yes [ ]no

(Buyer's Fee)

Ballot Question 3 - Should Article VI of the Covenants, Conditions & Restrictions of Waterford Lakes Tract N-25A Neighborhood Association, Inc. (Assessments) be amended to permit the Association to collect an ownership change fee, not to exceed one year's assessment, from each new homeowner in Cypress Isles provided that the house purchase date is on or after January 1, 2007?
[ ]yes [ ]no