BALLENA BAY TOWNHOUSE ASSOCIATION
ANNUAL MEMBERSHIP MEETING
September 21, 2000

MINUTES

CALL TO ORDER - The meeting was called to order at 7:35 p.m.

QUORUM - Manager Rich Noble confirmed that 45 members were represented in person or by proxy.

SPECIAL PRESENTATION

Jim Ehrlich made a presentation regarding the pigeon situation.

PURPOSE OF THE MEETING

President Frankel explained that the purpose of the meeting was:

1. To consider reports of the affairs of the corporation

2. To elect Directors of the Association

3. To transact any other business to come before the meeting that is within the powers of the shareholders

APPROVAL OF MINUTES

MOTION: it was moved seconded and passed to accept the September ! 6, 1999 Annual Membership Meeting minutes as presented.

REPORTS

President Frankel thanked the membership for the opportunity to serve.

Treasurer Bacigalupi thanked the other Directors for their assistance, and noted that the Association was in fine shape financially.

Architectural Committee Chair Wiard noted that much progress had been made during the past year.

Landscape Chair Foster stated that she had been happy to serve, and had learned a lot in the process. She thanked President Frankel for all of his "behind the scenes" help.

Waterside Maintenance Chair Klaus congratulated Messrs. Frankel and Wiard for their accomplishments while serving on the Board. He particularly noted that the homeowners pitching in had made the difference between replacing the wave maze at a cost of approximately $100,000 and the repairs, which had been accomplished for about $8,000. Mr. Klaus also commented on the state of the dredging project.

Manager Rich Noble highlighted the progress made during the past year in the repairs and painting of the homes, and responded to quesUons.

ELECTION OF DIRECTORS

The floor was opened for nominations and the following candidates were nominated: Richard Bacigalupi Mike Brownlee Isabella Foster Susan Frank Terry Klaus Barney McCloskey.

MOTION: It was moved, seconded and passed to close the fIoor for nominations.

Each candidate made a brief statement, then the meeting was recessed for voting.

Announcement of Election Results

President Frankel announced that the following Directors had been elected:

Richard Bacigalupi
Mike Brownlee
Isabella Foster
Terry Klaus
Barney McCIoskey

He congratulated the new Directors and thanked all candidates for participating in the election.

GENERAL DISCUSSION

President Frankel opened the floor for general discussion, encouraging members to take this opportunity to give direction to the incoming Board.

Ruth Masonek expressed concern about the Board's priorities. She felt that the dredging should not come before the landing/piling repairs.

Mr. Wiard stated that the worst had been replaced and the rest would be taken care of on a phased basis with the rest of the waterside project.

Susan Frank agreed with Ms. Masonek, stating that she had not been impressed by the engineer who had inspected the pilings. It was suggested that another round of inspections was in order.

President Frankel asked for volunteers to serve on committees, and sign-up sheets were placed at the back of the room.

The outgoing Board was thanked for their efforts.

ADJOURNMENT

The meeting was adjourned at 8:40 p.m. A brief Board Meeting followed.