Leewood Homeowners Association

April 11, 2000 Board Meeting

Minutes

The regularly scheduled meeting of the Leewood Homeowners Association was held on this date at the School of Contemporary Education.

Present:
Ms. Currier, President
Mr. Buck, Vice President
Ms. O'Meara, Secretary
Ms. Leona Taylor, Treasurer
Mr. Sanford

Absent: Pam Stover, ARC

LHOA Residents:

I. The President opened the meeting at 8:00pm.

II. Open Forum: See Investment Strategies (under Treasurer)

III.The minutes of the March 14th Annual Meeting were approved as written.

IV.Officers Reports:

A. President:

1. Homeowners Accounts: LHOA is in the middle of an assessment period;over 60 percent of the homeowners have already paid their assessment.
2. Towing: The President stated that she and others make every effort to contact homeowners asking them to remove their cars when street paving/maintenance is in effect.
3. AAA - the trash pickup at an early hour is improving.

B. Vice President - no report

C. Secretary - the Secretary will provide her e-mail address to the President.

D. Treasurer:

1. Financial Reports: The Treasurer distributed the following:
• Budget Report (1/1/00 thru 3/31/00)
• Balance Sheet by Month (as of 3/31/00) (copies attached)
• Draft proposal of a resolution to designate a portion of operating revenues collected in excess of operating expenses to be set aside for the purpose of funding future capital improvements to the common area of Leewood.
• LHOA Investment Allocation/Options Statements
2. Investments:LHOA does not have an Investment Committee; the Board hasassumed this responsibility. The Treasurer stated the following:
   • the Association still has some money in municipal bonds;
   • after extensive discussion, the Treasurer suggested that $60,000 be placed in 1-3-year CDs (to be reviewed every year) in order to remain in a conservative investment strategy.
   • The President moved to leave investments as they are, except for liquidating the Steinroe Bonds, placing them into a money market fund (MMF). The Treasurer will then take $60,000 out of the MMF to ladder it into CDs. The motion was seconded and approved unanimously by the Board.

IV. Committee Reports:

A. Architectural Review: Pam Stover, Chairperson, was not present at the meeting. The Treasurer distributed a draft of a waiver letter concerning sheds in the rear yards of homeowners.

There was discussion about the logistical problems relevant to Koger.

B. Grounds and Maintenance: Al Sanford, Chairman,

1. reported that the Bob MeyerMemorial Bench ceremony is scheduled for May 7th at 3:00pm. A reception will follow at the home of Leona and David Taylor. It will be announced in the newsletter.
2. Sealing lower Leestone: It was recommended that the cracks on lower Leestone Street be sealed with no overlay and work is to be done by Professional Painting and Striping; the cost will be approximately $2100.This project was approved unanimously by the Board.
3. Street Sweeping: It was recommended not to do street sweeping this Spring. This recommendation was approved by the Board.
4. Watering of Boot Hill: Jim Davidson, a homeowner, is willing to let the Association use his water for this area. A majority of the Board members (with Ms. Currier abstaining) agreed to compensate him for the water used, over and above the amount used by him and his family. There is an available list of volunteers to help with the watering.

V. Old Business:

• Automatic Waivers: Tabled

VI. New Business:

• William Wilkinson has volunteered to perform the POA inspections as Koger has not been responsive.

VII. Announcements: The expansion of Leewood Nursing Home will be discussed at the May meeting.

VIII. The meeting was adjourned at 10:00pm.

Submitted by:

Eleanor O’Meara, Secretary