OLDE CANAL VILLAGE CONDO TRUST
MINUTES OF CONDO TRUSTEE BOARD MEETING
General Meeting and Election

June 8, 2010

The meeting was opened by Andy Habe at 7:00 P.M.
Members of the board present: Andy Habe, Roger Lange, Marianne Williams, Romeo Berthiaume, Tom Fermi
Residents present: 32 owners

Andy turned the meeting over to Romeo who announced the results of the election. The winners were the unopposed candidates, Roger Lange and Marianne Williams. The capital expenditure proposal was defeated with a vote of 21 for and 30 opposed indicating only 66% of the Beneficial Interest responded. Since a vote of 75% of the Beneficial Interest was needed for the vote to be counted, the proposal was not accepted. Romeo thanked Bill Oncay for all the assistance he gave to the election process.

Andy then introduced and welcomed the new residents of Olde Canal Village, Pat and Frank Lary who relocated to Uxbridge from California.

One ballot was turned in without the Beneficial Interest label attached. Andy explained that it is difficult for vote counters to determine who cast what ballot because so many people have the same Beneficial Interest number. Only seven owners have individual numbers. Also, the tally sheet has only Beneficial Interest numbers listed and not names. The vote without the label was not counted as there was no way of knowing what the Beneficial Interest number was and so it could not be recorded.

Bill Oncay gave a talk about the Olde Canal Website and explained the various links found on the site. He divided the links into two categories- the frills and the No frills. He passed out a paper listing the links and asked all who would like to add something or would like to contribute to the website to please contact him.

Tom Fermi then explained the handout regarding the saving realized last year because of the diligent work of the board, especially concentrating on the savings our employment of Wilson has gained us. He also commented on the savings we have gained through the work of home owners themselves, doing the maintenance not only for themselves, but also for their neighbors. Tom and Andy do a great deal of negotiating with vendors to get the best price possible to save the owners from having an increase in condo fees.

Marianne reported on the financial state of the complex and reported that we are doing well. She then explained the recent reevaluation the complex had to undergo for HUD in order for any resident to refinance their home. The process took over two months to complete but resulted in approval by HUD. The review process is good for two years and will have to be redone in order to keep the approval rating. HUD asked the board to change two items that resulted in revamping the budget. One item that was changed was the Reserve Account. The budget called for $18,000 to be deposited yearly with monthly payments of $1500. HUD asked us to increase this amount to $19,000 thereby changing the monthly transfer to $1625. Money to cover this increased transfer of funds was taken out of the line item Buildings and the line item Equipment and Supplies- $500 each. We were also asked to increase the liability portion of our insurance policy for theft. This will result in an increase in the monthly insurance payments we make to CAU, our insurance company.

Roger gave an update on the re-staining of the decks. He reported that there are only several left to do. He also told those in attendance that Wilson is a wonderful asset and that he is capable of doing anything he is asked to do.

Romeo told all that he constantly checks the security lights on the garages, often going out at night to see if the bulbs are out. He reported that the new laws for fire alarms states that only photoelectric alarms are to be used and that they are $20. He said he would be planting forsythia bushes behind the retention pond for aesthetic value. Last year, Romeo and Tom planted 32 trees, most purchased by residents, and that only one tree died which is a remarkable thing. This year he will be planting arborvitaes in front of the utility boxes.

Andy concluded the meeting with a State of the Trust reading. This State of the Trust can be found in the newslette, on the website www.Oldecanalvillage.org.

Meeting adjourned at 8:30 P.M.
Respectfully submitted by Marianne Williams


OLDE CANAL VILLAGE CONDO TRUST
MINUTES OF CONDO TRUSTEE BOARD MEETING
June 8, 2010

The meeting was opened by Andy Habe at 9:00 P.M.
Members of the board present: Andy Habe, Roger Lange, Marianne Williams, Romeo Berthiaume, Tom Fermi

The cash flow statement was reviewed and approved. The bill payment request form was signed and returned to Marianne. Marianne asked all board members to be mindful of expenditures as the staining project has increased the amount of money used for Equipment and Supplies. Roger said he would keep track of the amount spent so that when the decks need to be re-stained in several years, we can better budget for the expenditure. Roger reported there are only 25 decks still to be stained.

Tom reported that he increased the amount of sprinkling from 2 days per week to 3 days per week. He noted that he is watching the measurement of the new sprinkler monitor and he believes this w monitor that measures the heat and air moisture will save us money by shutting off the sprinkling when there is an indication of rain, thereby lessening the amount of water used for the grass which will result in lower water bills.

One of the home owners asked for permission to install additional insulation in one of the walls. Romeo has been trying to contact the installer in order to set up a meeting to determine what is needed for this installation, as well as to provide written material regarding the process. Romeo will continue to work on this request.

One of the residents has requested permission to install a privacy fence similar to the one installed by Roger Lange. The owner had a fence at one time and Roger will contact the homeowner to see if that fence is still available to be installed as a temporary fence which could be removed when not in use.

In regard to residents planting arborvitaes for privacy, homeowner should remember that tall shrubs and trees must be approved by the board before planting.

Meeting adjourned at 10:00 P.M.
Respectfully submitted by Marianne Williams