October 16, 2001 6:30 p.m.

Orange County Library - Alafaya branch, 12000 Colonial Drive


Members present: Lee Blackwell, Myron Davis, Steve Hartman, Larry Sheeler, Bill Snook and Cookie Symons (quorum established). Members absent: Jean Thomsin. Neil Thomas, Property Manager from Penn First was also present. In addition there were four homeowners present.

President Blackwell called the meeting to order at 6:34 p.m. Proof of Notice was given.


The minutes from the September 18, 2001 meeting were reviewed and approved as submitted.

Financial Report
Myron Davis presented the Income/Expense Statement and Balance Sheet for the period ending 9/31/01. The Board also reviewed of the Delinquency Report. Neil reported that a foreclosure lawsuit was filed against the owners of acct. # CI-035 with Cypress Isles piggybacking with the Waterford Lakes Master Association. The Board asked Management to follow up with the accountant on accounts (CI-001, 016, 050,& 081) to see whether or not they needed to go to the attorney.

Committee Reports
Neighborhood Watch - Cookie reported that there have been a few instances where holiday decorations were taken from lawns. There has also been at least one instance where the end was cut off of a garden hose. There was an instance of a child taking a pocketknife to school at Discovery Middle School. Cookie asked that a reminder for everyone to lock their car be put in the newsletter.

ARC - Larry reviewed an ARC application requesting to install metal fencing for the Boards' consideration as this type had not been installed in Cypress Isles previously. The Board was in agreement that it would be an attractive type of fencing for the community.
The Board unanimously approved the request.

Lee reported on his conversations with Adelphia in an effort to have the green cable box removed from in front of the entry wall. They have flatly refused. Lee suggested that an article be put in the newsletter referencing the need for everyone to write letters of complaint to Adelphia regarding the issue. Lee will provide Denny with the name address that the letters should be sent to.



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Waterford Lakes Tract N25-A Neighborhood Association
Board Of Directors Meeting - October 16, 2001

Old Business
Drainage - Larry reported that he is working as a member of the Storm-water Committee. They are at the point that they now have a response from the engineer.

Insurance - Lee reported that the coverage on the entry walls had been increased to a total of $20,000.

Budget - There were several budget proposal scenarios reviewed. The Board reviewed the current YTD expenses for each line item, compared to current funding levels. There was a lengthy discussion that followed. A motion was made by Larry to set the 2002 Annual Budget at $20,160 with quarterly owner assessments of $36. Seconded by Steve. The motion passed unanimously.

New Business
Lee asked management to seek three bids for mulching the entry planters prior to mulching in January.

There was discussion regarding the lawn damage at 932 Spring Island Way. A motion was made by Larry to approve sending the "Final Violation" letter as soon as the time period from the "Notice of Violation" letter has expired. Seconded by Lee. The motion passed unanimously.

Open Forum
There was discussion over parking in the street. It was explained that the County owns the streets and the Association cannot stop people from parking there. It was decided that a reminder be put in the newsletter asking residents to refrain from parking in the street.

There was discussion over the "Yard of the Month" program. The Board decided to stay with their previous decision to start it up in January 2002. Chip volunteered to work on fabricating a sign for the program. The Board approved up to $100 to spend on materials for the sign.

Motion to adjourn made by Larry. Seconded by Cookie. Meeting adjourned at 8:15 P.M.

Next meeting is scheduled for Tuesday, November 20, at 6:30 p.m.

__________________________ _______________________
Neil E. Thomas CMCA, PCAM Board of Directors
Penn First Management, Inc.