OLDE CANAL VILLAGE CONDO TRUST
MINUTES OF CONDO RESIDENTS BOARD MEETING
June 11, 2013

The meeting was opened by Andy Habe at 9:00 A.M...
Members of the board present: Andy Habe, Romeo Berthiaume, Marianne Williams, Frank Lary
Members of board absent: Roger Lange

Andy welcomed all to the meeting. He also welcomed, in absentia, the newest residents of Olde Canal Village- George and Virginia Paradiso of 3 NVD and Paul and Sandra Johnson of 27 OCW.

The election results were announced and the winners were Roger Lange and Marianne Williams. Romeo made note that the total number of voters was 61 out of 72 homeowners. The total BI from all votes was 84.5 % therefore a quorum was reached. The referendum question regarding amending the Declaration of the Trust to clarify the qualifications of trustee eligibility, mainly that those seeking office be a qualified resident and a homeowner with no condo fees in arrears, passed with 79.1 % of the vote. The percentage required for passage is 67%.

Andy then asked the trustees to speak.

Marianne thanked all who voted for her and thus acknowledged their trust in her ability to do the job of treasurer. She announced that would be her last term of office and she asked all to consider running for the board. She then gave her report of the financial state of the Trust. She reported that the Trust is in good shape financially and that the reserves have increased dramatically since January of 2011 following the costly repairs to the roofs. This year the board budgeted $20,500 for the reserve fund. This amount is according to the qualifications imposed by HUD that requires 10% of the budget be set aside for reserve and that an amount equal to the insurance deductible be added to the reserved amount. Marianne said there might (and she stressed MIGHT) be a possibility of a condo increase in 2014. The final decision will be made in December when the new budget is approved. The budget will include the new contacts which Frank will negotiate with Waste Management and the landscape/snowplow vendor. If we do need an increase, the board will do its best to keep it as low as possible. Marianne then told those present about the new program the board has approved to help with the collection of condo fees. The program is from Unibank and uses electronic transfer of funds from one bank to another. This program will insure that the condo fees of all those participating will never be late. The homeowner participating in the program will not have to worry about forgetting to pay the fee on time, or whether the check is lost in the mail. Those wanting to be part of this electronic program will fill out an application form which will be sent to Leslie. Leslie will hold all applications in her file. No board member will have access to the information on the application. The homeowner will choose the date he/she wants the money debited from their account. If the homeowner decides to opt out of the program, he/she just has to notify Leslie and she will make all the necessary changes. The program is free to the homeowner. The program will probably become active in August. Marianne had applications available for anyone who wanted one. Thirteen were distributed at the meeting.

Frank Lary spoke and told those in attendance that he will negotiate the new contracts in November. He also reported that all fire walls are repaired.

Andy spoke for Roger Lange who was absent. He reported the savings achieved through self-management. Romeo alone saved Olde Canal Village $13,785 by undertaking the trimming of shrubbery as well as doing the electrical work of replacing light bulbs and sensors and the installation of fire alarms. The total amount of savings was $48,055. This figure did not include the work of Frank, Andy or Roger.

Romeo said that anyone who needed their shrubs trimmed should submit a Trustee Communication Form. He said that anyone who experiences a faulty battery in their smoke alarm during the should go to the basement and flick the breaker affiliated with the smoke alarm. This is a separate breaker dedicated to the smoke alarms in the home. This will stop the beeping until morning when repairs can be made. Romeo also spoke about the number of speedsters that are using our roadways. It appears that those violating the 15 m/h speed limit are visitors and he recommended all homeowners remind their visitors of the speed limit. He also said that parking on the street is against the rules. He stressed that the roads are narrow and parking on the streets prohibits ambulances and fire apparatus from coming to the aid of a resident. He stressed that all cars are to be parked in the drive. In case the driveway is filled to capacity, visitors can park their cars in the clubhouse parking area if there is no event at that time.

Andy then read the State of the Trust which can be found on the website.

Meeting adjourned at 8:15 P.M>

Respectfully submitted by Marianne Williams