Board members and homeowners present:
Chip Crane, Myron Davis, Dennis Horazak, Cookie Symons, Jean Thomsin.
(Absent: Steve Hartman, Larry Sheeler, Bill Snook and Ron Wiley)
In addition there were 5 homeowners present and Tom Bontrager of Penn First Management.

1. Call to Order
President Dennis Horazak called the meeting to order at 6:35 p.m.

2. Certify Quorum
5 of the 9 board members present: Quorum established.

3. Proof of Notice
Proof of Notice was given.

4. Approval of minutes from previous meeting
Jean Thomsin mentioned that the three attachments A, B and C are part of the minutes.
Dennis Horazak made the motion to approve the minutes of the November 18, 2003 meeting as submitted. Seconded by Jean Thomsin and approved unanimously.

5. Financial Report
A. 2003 financials: Myron Davis reported that we had a negative variance of $1,251 for the year 2003. This is due because of the entrance lightning project. This reduces the Association's Equity from $17,425 at the end of 2002 to $16,174 at the end of 2003.
B. Collections status as of December 2003
Lot 27 - Dennis Horazak mentioned that the Board has done it's best to help but the Homeowner remains un-responsive. Cookie Symons made the motion not to wave the attorneys fees ($290.00). This was seconded by Myron Davis and approved unanimously.
Lot 114 - In December the Lawyer was asked to start the process to place a lien on the property.
Lot 137 - After a payment of $100.00 on 12/2/03 the balance due is still $210.00, which are the legal fees to place a lien on the property. A letter from the homeowner's indicating financial difficulties was discussed. It was mentioned that we can not waive the legal fees because they are already spent; either the homeowner or the association has to pay them. If the association pays them, it is at the expense of all the other homeowners. Dennis Horazak made the motion not to waive the $210.00 legal fees. Jean Thomsin made an amendment to the motion to offer the homeowner the option to pay the $210.00 in three installments of $70.00 on April 1st, July 1st and October 1st. The amended motion was seconded by Chip Crane and approved unanimously. Tom Bontrager will contact the lawyer with the results.

6. Committee Reports
A. ARC and Violation report: Chip Crane reported that he did a ride around together with Tom Bontrager on 1/2/04. The neighborhood looks great with most people taking good care of palms, shrubs, bushes and lawns. No violations were given out. The homeowners who received violation notices the previous ride around are in the process responding. A walk around has been planned for the spring.
Lot 13 (13202 SHC - driveway painting): Chip Crane and Cookie Symons reviewed the color proposed, which complements the color of the house. It was agreed to OK the painting of the driveway up to the sidewalk.
Lot 23 (720 SIW - fence and shed): The Declaration of Master Covenants, Conditions and Restrictions (CCR) of Waterford Lakes (Article IX - Section 1B - Temporary Buildings) states: "No tents, trailers, vans, shacks, tanks, or temporary or accessory buildings or structures shall be erected or permitted to remain on the properties". The fence is OK and if the storage shed (e.g. Rubbermaid) remains below the fence than we would OK it as long as it is not visible from the street.
Lot 122 (713 CWC - fence): We approved the fence. However, homeowner received comments from the Master Association ARC about the location of a propane tank. It was agreed that aesthetics in our neighborhood are the Cypress Isles ARC responsibility only and not the Master's.
B. Neighborhood Watch report: Cookie Symons reported that all is nice and quiet in the Neighborhood.
C. By-Laws Committee: Jean Thomsin mentioned that there has been no input at all on the proposed by-laws from any of the board members who are not part of the By-Laws committee up till now. Moreover Penn First Management (Tom Bontrager) and Larry Sheeler have not replied yet to the request for specific comments and needed changes for the Sections 'Past Due Assessments' and 'Collection Procedures' (Article VI Sections 3 and 4). (See also 7.A below)
D. Holiday Lighting Contest: Dennis Horazak and Ron Wiley judged the contest and awarded as follows:
First Place: Wendy & Richard Lowe, 819 Spring Island Way
Second Place: Victor & Rochelle Reyes, 517 Spring Island Way
Third Place: Mohmood & Shyroon Ali, 712 Cedarwood Court
Honorable Mention: Al & Lorna Santamaria, 725 Divine Circle
Myron mentioned that because of the transfer of Penn First Management to another bank, he was not able to issue the checks for the winners ($75, $50 and $25 resp.) Tom Bontrager will 'check' it out.
Dennis Horazak suggested that we issue award certificates along with the checks this year, and that award signs be made for the winners' yards in time for next year's holiday season.
E. Newsletter: Dennis Horazak mentioned that the deadline for copy is January 27.

7. Old Business
A. Comments and Changes to "Past Due Assessments and Collection Procedures: Tom Bontrager explained that due to the change in ownership of Penn First Management more time is needed to respond to the request. Dennis Horazak mentioned that we expect that the modification and or comments are related to the text as laid out in the by-laws proposal from the by-laws committee.
B. Welcome Packets: Dennis Horazak introduced his first draft of an update of the Welcome Packet. He asked the board members to look it over and give him comments via email. Cookie Symons suggested that the Cypress Isles website should be prominently displayed on the front page and/or footer of each page. Jean Thomsin indicated that an improvement to the symbol/artwork on the front page would be welcome. Dennis mentioned that when the packet is finalized, he would order about 15 copies to give out to new homeowners, and then re-order other sets of 15 copies as needed.

8. New Business
A. Penn First relocation: Tom Bontrager mentioned that Larry Sheeler has sold Penn First Management to Jim Boyle. Jim has over 20 years of experience with community management and owns two other related businesses. Tom Bontrager will continue to be the property manager for Cypress Isles. The new address of Penn First Management is:
498 Palm Springs Drive #235, Altamonte Springs, FL 32701.
Tel: 407.260.5344, Fax: 407.260.5944.
B Spring Festival: Claire Sheeler has asked to be relieved from the task of organizing an event in the spring due to a heavy workload. It was mentioned that we are not bound by a certain time of the year. Dennis Horazak asked the board members to think about a two-month time window in the year in which both the climate and the chance that people are less busy with other things would be favorable for organizing such an event.
C Board Elections in April: The yearly board member election will be held during the annual member meeting on Tuesday April 20th, 2004. Jean Thomsin suggested that the By-laws committee work on a proposal for the election process to be discussed during next month's board meeting (2/17). This will be in time for the invitations to go out to the homeowners. In the newsletter people will be encouraged to run for a position on the board.

9. Open Forum
There was no input from the floor

10. Schedule next meeting
The next meeting is scheduled for Tuesday February 17th at 6:30 p.m.

11. Adjournment
Cookie Symons made the motion to adjourn, seconded by Jean Thomsin. The meeting was adjourned at 8:10 p.m.

___________________ _______________________
Notes submitted by Board of Directors
Jean Thomsin
Secretary of the Board