Board of Directors Meeting
August 16, 2005
Exit Real Estate
11555 Lake Underhill Road


Board members present: Myron Davis, Dennis Horazak, Lee Blackwell, Mike Kranz 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 6:35 pm

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

3. Proof of Notice
Proof of notice was given

4. Opening remarks

a. Dennis noted the protocol for the meeting would not be read since everyone there had heard it many times.


5. Approval of agenda

The President, Dennis Horazak, presented the meeting agenda. Dennis added two items to the printed agenda, Architectural Review Committee procedures and Citrus Canker.

6. Approval of minutes

Minutes of the June 21, 2005 Board meeting were presented. A motion to accept the minutes was made by Lee Blackwell seconded by Ron Wiley and unanimously approved by the Board.

7. Financial report

a. Myron Davis presented the May 2005 financial report showing $20,523.62 in assets and $6,177.00 in liabilities, and explained the income/expense statement.
b. Delinquencies were reviewed. A total of $1,601.50 is still outstanding with the owner of lot 114 owing $916.63.
c. The insurance claim check for $1124 has been received and placed in the Cypress Isles account. Lee Blackwell turned over the insurance information packet to management to be placed in the file.
d. Budgeting for reserves was discussed. Dennis furnished a calculation method he developed for board consideration titled "Reserves-050810.doc".
e. Plans for the 2006 budget were discussed. A budget planning meeting would develop the budget during September, and the Board would vote on budget at the October 18 meeting.


8. Committee Reports

a. Lee Blackwell chairman of the ARC reported the results of the July 26 drive-through. The statistical results will be reported in the Cypress Isles News.
b. Report was given on 744 Spring Island Way.
c. Lee reported we have two new ARC members, bringing the total to 4 (four).
d. Lee reported that four pine-beetle-infested trees at the front entrance needed to be removed because they are a safety hazard, and because they can infect other trees. He reported Kirkland could remove the four trees for $600.00. When the Board questioned where the money would come from to do this, Lee proposed that the $500 approved on June 21 to remove trees in the common area could be used, since that job could wait until the first quarter of next year, and $100 could be added to that amount to complete the job. Lee made a motion to approve that option and Ron gave the second. Motion approved unanimously.
e. Roof Shingles were discussed, since several homeowners have replaced missing shingles with shingles that do not match the rest of the roof. It was noted that the covenant documents do not contain specific language related to shingles, and that the mismatched shingles might be temporary. It was decided that the next inspection will concentrate on roofs and any that don't look as they should will be sent a letter to find out disposition and plans. Mike will write the letter to be sent.
f. Trimming dead palm fronds was discussed. Our documents state that all dead plant material should be removed or replaced. We want to be consistent with the documents. In the minutes of the Cypress Isles Board of Directors Meeting November 19, 2002 Jean Thomsin made the motion to enforce the removal of dead fronds, seconded by Chip Crane. The motion was approved unanimously. The actual wording in the "docs" is this: "Maintenance of Landscaped Areas: All landscaped areas (to the paved right-of-way) shall be maintained in live, healthy and growing condition, properly watered and trimmed. Any planting of grass, shrubs, or trees which become dead or badly damaged shall be replaced with similar, sound healthy plant materials." (Declaration of Neighborhood Covenants, Conditions and Restrictions of Waterford Lakes, ARTICLE IX, Section 1-P)

Question was asked if anyone had seen the off-duty police. Management reported that only 1 or 2 hours per month were turned in for pay for the last couple months. The Board asked management to notify the off-duty police that they were expected to be at Cypress Isles 5 hours a month and management agreed. The Board also asked that the police be directed to monitor mornings around the school bus stop or evening around 5 to help the speeding problem.


ReNEW Grant status report
Lee reported that the bids have been validated and the County has issued the POP (proof of purchase) agreement. It takes about 6 weeks to issue the POA (purchase order agreement). The County will pay half of all cost and the HOA must pay the other half. The total cost is now $27,943 for all four projects. This made $13,971.50 the HOA must pay. Lee made a motion to do the grant and Mike gave a second. Motion passed 4 to one, Ron voted no.


9. Unfinished Business

a. Dennis passed out a draft of the ARCHITECTURAL REVIEW COMMITTEE procedures he has assembled. All Board members are to review and give opinion on contents.
b. Street trees were discussed. A large portion of street trees are not growing properly, even when homeowners followed advice from Orange County and other tree experts. Given the lack of reliable information about street tree care, the decision was made to suspend ARC citations about street trees, and to give homeowners the opportunity to vote on street tree options at the annual meeting.


10. New Business

Discussion took place on the selection of a new attorney. After some discussion Myron made a motion to use Wean and Malchow and Lee made a second. Motion passed unanimously.


11. The next meeting will be on October 18, 2005.


12. Adjournment - Motion to adjourn by Lee Blackwell and seconded by Dennis Horazak, unanimously passed. The meeting was adjourned at 8:55 pm.






_______________________ ________________________
Minutes submitted by Board of Directors
Rex Bowman, Manager