1. The meeting was opened at 7:05 PM by Chairman Andy Habe with all trustees present as well as Bill Oncay.

  2. There was a discussion concerning the upcoming change which will require that carbon monoxide detectors be installed prior to sale of any housing unit similar to the requirement for smoke detectors already in force. Apparently, this becomes effective in March, 2006. The Board may come up with a program whereby detectors would be bought by the Association and then sold to the unit owners. Further discussion is required on this matter.

  3. The Board discussed the fact that smoke detectors are starting to fail because of age. Also discussed was the failure of batteries in the detectors and the need for homeowners to replace them.Tom Rogers has personally volunteered to change batteries and faulty detectors where and when needed. Further discussion is needed on this program.

  4. Bill Oncay brought up the subject of security at the Olde Canal Village web site to assure that outside parties are not able to get into sensitive information such as financial data. The Board decided to keep the access security as it is but limit the type of data being placed on the site.

  5. Chairman Habe asked about the status of lighting on Olde Canal Way and the circle. There has been little progress due to lack of prospective bidders within our price range. Additionally, the type of lighting has not been selected. It appears that lights on Olde Canal Way could be placed on the side of a unit while pole lights would be more suitable on the circle. The Lighting Committee has to finalize this plan.

  6. Tom Rogers advised the Board of the progress of getting the revised condo documents reviewed by an attorney. The attorney seems to feel that the Master Deed should not be changed because of the impact on the rights of Mortgagors.

  7. Chairman Habe asked about the status of the plan to request bids from several insurance companies on the overall policy for the Condominium Association. Tom Rogers provided an update on the insurance committee’s attempts to obtain competitive bids. A request for proposal has been sent out to several agencies but they may not be able to better the price we are currently paying.

  8. The upcoming vote on the proposed FY 2006 Budget requirement for Common Area improvements was discussed. Because of the upcoming renewal of the snow plowing/removal contract with it’s unknown dollar impact, the Board decided that caveats are needed before voting takes place. Tom Rogers will revise the language in the vote proposal to be distributed to the residents.

  9. It is the intention of the majority of the trustees that we will continue to add $18,000 annually to the Primary Replacement Reserve Fund. Any surplus funds will be held in the Working Operations Fund for association operating needs. For FY 2005, funds normally placed into the Reserve Fund were utilized for sealing the streets and for installation of gutters on units not having one installed initially. These expenditures were deemed to be a legitimate use of Reserve Funds.

  10. Tom Rogers brought up the subject of issuance of Form 1099’s to contractors hired by the association. This issue will be addressed to CPA John Harrigan during his accounting review of FY 2005.

  11. The proposed movement of the tree in front of the Bruno residence will be discussed in the Spring.

  12. Merle Ray advised that he would distribute an FY 2006 Cash Flow report to each board member. Because of our fixed monthly income, expenditures must be planned so that negative cash flow is held to a minimum. At this point, Tom Rogers proposed an increase of $50 for preparation of 6d Certificates. The Board voted 5 to 0 to accept this proposal. In the future, 6d Certificates for residents will cost $100.

  13. Tom Fermi announced that in the future a 1 to 1 sand to salt ratio would be laid on the streets by the snow plowing/removal contractor. This should reduce the incidences of slippery pavement experienced because of thawing and then freezing of snow melt.

  14. The meeting was adjourned at 9:15 PM.

  15. Andy Habe, Chairman


JANUARY 30, 2005

  1. The meeting was opened by Chairman Andy Habe at 7:08 PM with all members present.

  2. The proposed vote on Common Area Improvements by unit owners was discussed as to when it should take place. The vote should not be "conditioned" on whether we will be able to obtain multi-year snow plowing/removal and landscaping contracts and their cost. It was decided to wait for the vote until the June 12 meeting or later.

  3. Merle Ray provided an update on the requirement to issue Forms 1099. A listing of all companies/individuals receiving $600 or more for services and/or supplies in FY 2005 was compiled by the bookkeeper. Letters and Form W-9s were sent to those activities which could not be identified as corporations (exempt) requesting their Tax Payer Identification Number (TIN). One response has been received to date. Forms 1099 will be sent to those vendors who are identified as non-exempt. At this time, it appears that there will be a small number of these.

  4. The FY 2006 estimated cash flow will be re-accomplished using new numbers provided by Tom Fermi. This prompted as discussion as to the necessity of maintaining separate bank accounts for operating funds and working operations. The Board voted in favor (5 - 0) of combining these two accounts.

  5. Andy Habe advised the Board that he had discussed the current interest rates of Certificates of Deposit (CD) with the local Bank of America branch manager. Currently they are paying 4.1% for an eight month period. The Board voted in favor (5 - 0) to place $10,000 of our reserve funds into such a CD. Merle Ray will take this action.

  6. There was a lengthy discussion on fire/smoke and carbon monoxide detectors including battery replacement and detector installation/replacement and the responsibility for these actions. This subject was addressed because of the new law going into effect soon which will require carbon monoxide detectors in residences. Currently when a residence is sold, the fire department must inspect the premises to assure that fire/smoke detectors are working. When the new law goes into effect, they will also be inspecting to assure that working carbon monoxide detectors are also in the residence. Tom Rogers and Tom Fermi will discuss these issues at the next joint Board of Trustees/Residents meeting in March.

  7. The Chairman asked for the status of the following on-going issues and responses were supplied as indicated:

    1. Legal Review of Condo Documents - Tom Rogers advised that this has not been completed as yet. He did receive an opinion that no modification should be attempted on the deed.

    2. Insurance Quotes - Tom Rogers reported that only one response was received indicating that they could not compete with CAU, the present insurer.

    3. Accounting Review - Merle Ray requested approval of the Board to sign the agreement with John Harrigan to conduct a review of our accounting records and procedures for FY 2005. This was approved by the Board.

    4. Lighting - No additional information.

    5. Request by Walter Woods to install a disk antenna. Tom Rogers will call Walter to assist him in the procedural requirements of OCV Rules & Regs and the completion of the successful installation of the disk antenna with Walter’s vendor.

    6. Roof leak at Bill Oncay’s - Roberto will take care of it.

    7. Contract negotiations for Landscaping and Snow Removal Contracts - Nothing has been accomplished to date. Merle Ray asked that an attempt be made to spread payments over as long a period as possible.

  8. The meeting adjourned ate 8:45 PM.

Andy Habe, Jr-Chairman