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FIELDCREEK ESTATES HOMEOWNERS ASSOCIATION BOARD OF DIRECTORS MEETING May 8, 2007 Eugene Berger Management Corp (EBMC) 5011 Meadowood Mall Way, Ste. 200, Reno, Nevada MINUES OF MEETING Present: Barry Ojers (President), Lester Cohen, Mark Bacon Absent: Nick Pappas, Pablo Gomez, Tom Bos Also Present: B.J. Brown (EBMC), Malinda Baldridge (EBMC), Gayle Kern, Legal Counsel, Richard Page (to take Minutes) _____________________________________________________________________________ I. CALL MEETING TO ORDER President Barry Ojers called the meeting to order at 11:30 a.m., with a quorum of three of six members present. II. MEMBERSHIP FORUM Bob Cantor distributed a letter to the Board of Directors regarding “Board meeting of 2/21/2007 and activity to amend Association’s CC&R’s and Noncompliance with provisions of NRS CH. 116 which nullified this activity”. He stated one of his concerns was whether or not the Board when soliciting votes for this violated their fiduciary responsibility. He stated that as a Board of Directors, things should be done because it is the right thing for the corporation versus being the right thing to do. He stated that with this action, the Board gave up an asset which is presently worth a little over $250,000. He asked if assessments have been over-collected in the past since it is stated by this Board that the loss of this asset won’t affect the assessment to homeowners in the foreseeable future. III. OLD BUSINESS (formerly Agenda Item VII) Board to approve proceeding with Amendment To Governing Docs reg. Fairways assessments (received required membership votes) It was moved by Lester Cohen to ratify the Amendment to the CC&Rs per the proposed language for Paragraph 6.7 subject to the Fairways group signing the release of claims - past, present and future – to be drafted by Gayle Kern, legal counsel, and recorded at the Annual Meeting. Mr. Cohen noted that this motion to ratify the amendment is to ratify it as approved by the majority of the Fieldcreek Homeowners membership. Mark Bacon seconded the Motion. Motion carried unanimously. IV. VENDOR REPORTS No vendor reports were presented. V. MINUTES The Board reviewed the minutes of the meeting of February 21, 2007. Lester Cohen moved to approve the Minutes as presented. Mark Bacon seconded the Motion. Motion carried unanimously. VI. NEW BUSINESS (formerly Agenda Item VIII) 1. Board to approve Management Contract for 2007 Lester Cohen moved to approve the Management Contract with EBMC for 2007. Mark Bacon seconded the Motion. Motion carried unanimously. VII. FINANCIAL REPORT (formerly Agenda Item V) A question was raised regarding the total cost for the landscaping improvements, and was told it was a little over $30,000. The bill has not been received yet because some work needs to be completed. It was moved, seconded and carried to approve the Financials for January, February and March, 2007. Motion carried unanimously. VIII. COMMITTEE REPORTS (formerly Agenda Item VI) 1. Neighborhood Garage Sale Update Mark Bacon stated that he would like to postpone discussion of this item until next week when the full Board would be present. IX. CORRESPONDENCE There was no correspondence presented. X. SCHEDULE NEXT BOARD MEETING The next Board meeting has been scheduled for next week. XI. ADJOURNMENT There being no further business, the meeting was adjourned |
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