BALLENA BAY TOWNHOUSE ASSOCIATION # 1
BOARD OF DIRECTORS REGULAR MEETING
APPROVED MINUTES
SEPTEMBER 5, 2006

ROLL CALL/CALL TO ORDER:

Board Members Present: Elise Hall, Shelley Bliss, Audrey Kramer, and Beverly Partridge. Excused: Mike Brownlee

Also Present: Ric Perez of Massingham and Associates, Ric Fong, Esq. Various Homeowners

E. Hall called the meeting to order at 7:28 p.m.

OPEN FORUM:

President E. Hall issued a verbal report on the state of affairs, commenting on reserve holdings, maintenance accomplishments, and savings captured via changing management firms and landscapers.

Richard Bacigalupi inquired as to the status and process for holding the annual election. Management provided a status report including (i.e. mailing of the election rules to the membership), and the remaining steps to be taken in order that the Board and association are in compliance with new law (added to the CA Civil Code effective July 1, 2006). R. Fong added an explanation of the proxy process. It was estimated that the election would be held in November of 2006.

Questions were raised regarding the status of the Wave Maze. S. Bliss provided an update report and suggested that the HOA expend funds for a diver to determine the extent of damage.

APPROVAL OF MEETING MINUTES:

The motion was made and seconded to approve the July 12, 2006 Regular Meeting Minutes. The motion carried unanimously.

The motion was made and seconded to approve the July 12, 2006 Executive Meeting Minutes. The motion carried unanimously.

The motion was made and seconded to approve the August 1, 2006 Executive Meeting Minutes. The motion carried unanimously.

The motion was made and seconded to approve the August 1, 2006 Regular Meeting Minutes. The motion carried unanimously.

BUSINESS AT HAND

The motion was made and seconded to be in compliance with new legislation regarding the election of directors, thereby postponing this issue at the upcoming annual meeting scheduled for Oct 3, 2006. Nominations will be accepted at the annual meeting. The motion carried unanimously.

The motion was made and seconded to approve a proposal submitted by Roger Pollard to prepare an updated reserve study at a cost of $ 2600.
Management recommended that the Board consider a fine schedule for the purposes of gaining CC&R compliance once the documents are restated by attorney Fong.

Attorney Fong noted that he would be recommend a complete restatement of the documents as opposed to merely amending them due to the large body of legislation which has been enacted since the documents were last updated.

The motion was made and seconded to engage attorney Richard Fong to restate the governing documents at an estimated cost of @ $ 4,000. The motion carried unanimously.

R. Fong estimated that he would have a first draft to the Board within the next 45 days.

The motion was made and seconded to approve a proposal submitted by management for the preparation of a pro forma reserve budget, at a cost of $ 475. The motion carried unanimously.

The motion was made and seconded to approve a proposal submitted by Pollard Unlimited in the amount of $ 3,500 to perform inspections of the major components of the association for purposes of developing scope of necessary work and overseeing the work once engaged. The motion carried unanimously.

ADJOURNMENT:

The motion was made and seconded to adjourn to executive session at 8:45 pm to discuss an owner dispute (beam replacement) with the Association. The motion carried unanimously.


Respectfully submitted,

Ric Perez, Senior Association Manager, CCAM, Recording Secretary,

Massingham and Associates Management, Inc.

Managing agents for, Ballena Bay Townhouse Association # 1

Certified as approved by the Secretary_________________________________