Board of Directors Meeting
October 18, 2005
Exit Real Estate
11555 Lake Underhill Road


Board members present: Dennis Horazak, Lee Blackwell, and Mike Kranz. Absent were Myron Davis and Ron Wiley. Rex Bowman, the community manager, was also present along with 4 (four) homeowners.

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

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

3. Proof of Notice
Proof of notice was given

4. Opening remarks

a. Dennis read the protocol for the meeting and welcomed homeowners in attendance.

5. Approval was given for the agenda.

6. Approval of minutes

Minutes of the August 16, 2005 Board meeting were presented. A motion to accept the minutes was made by Lee Blackwell seconded by Mike Kranz and unanimously approved by the Board.

7. Financial report

a. Rex Bowman presented the September 2005 financial report showing$19,682.67 in assets and $3,975.00 in liabilities, and explained the income/expense statement.
b. Delinquencies were reviewed. A total of $1,145.72 is still outstanding with the owner of lot 114 owing $918.65. The account for Lot 27 on the report still showed $25.00 that had been added twice but not yet removed. Management was asked to remove the fee. Management agreed.
c. Management suggested that the 2004 "Contingency" reserves be combined with current year income/losses to reflect the actual amount in reserves. The decision for needed action will be held until the Treasurer can be included in the decision, or until the next Board meeting.

8. Committee Reports

a. Lee Blackwell chairman of the ARC reported the request for last month included 2 pools and 8 house color changes.

b. Lee reported that a community-wide inspection would take place within 2 weeks. Lee mentioned that many homes have sidewalks that need to be cleaned, and that would be one of the items reviewed on the inspection.

c. Lee reported that Orange County installed 40' sections of fence along the sidewalks on both sides of Lakes Way, and that the county agreed to repair the washed-out areas under the sidewalk in that area.


9. Renew Grant status report

Lee reported on the landscaping part of the project and presented the report he had prepared for the county as required.
Claudia Rilea reported on other parts of the project. The electrical work on lights has been completed but the lights on the right side of the front entrance have not worked since the repair. Payment to the electrical contractor is being held until the problem is corrected. The Brickwork is behind schedule but other contractors are being considered. The sign part of the project is on schedule and looking good. A homeowner asked about filling drainage holes in the bottoms of the columns, and Claudia agreed to check the situation and add it to the project to correct.

10. New Business

a. Proposed budget for 2006 was reviewed. The board of directors answered all questions. Mike made a motion to approve the budget for 2006 and Lee gave a second to the motion. Unanimously approved. The 2006 budget is attached to these minutes.

b. A homeowner mentioned possible restrictions to damage control in the "Greenbelt" wetlands area, in that damaged trees cut lower than 14 or 15 feet might have to be replaced. Lee will check into this before any work is started.

11. The next meeting will be on November 15, 2005. No meeting is planned for December.

12. Adjournment - Motion to adjourn by Mike and seconded by Lee, unanimously passed. The meeting was adjourned at 7:50 pm.



Minutes submitted by
Rex Bowman, Manager