HERITAGE HUNT CONDOMINIUM I

ANNUAL BOARD MEETING

MARCH 11, 2008

I. Call to Order

The meeting was called to order at 2:03 p.m. by the President, Ed Plummer. Also present were Board members, Gwen McCauley and Warren Miller, SCS representative, Kerry Farmer, Committee Chairpersons, Betty Licitra, George Field, and Frank Hoss. A number of residents attended.

II. Proof of Quorum

It was determined by the number of registered resident owners present in addition to 29 proxies received that a quorum was established as required for the election of a resident to the Board for the position being vacated by Gwen McCauley.

III. Proof of Notice of Meeting

Kerry Farmer presented proof of notification of meeting by SCS.

IV. Approval of Minutes

By motion, the minutes for the Annual Meeting of March 13, 2007 were approved.

By motion, the minutes of the Board meeting of January 8, 2008 were approved.

V. Reports of Officers and Board of Directors

Treasurer

Warren Miller reported the year end income of $335,011.00. Warren reported that the condominiums financial status is positive. Some costs have been better than predicted; namely, electricity use decreased by over $8,000.00, legal fees were less than budgeted, snow removal was not needed due to lack of snow. Sprinklers were purchased and installed in the rear of l3891 to maintain trees and shrubs.

Warren estimates that the efforts on behalf of the condo residents by George Field and Ed Plummer have saved the association approximately $10,000.00 based on current contractor rates.

Warren reported that investigation of the discrepancy in water usage between the two condo buildings will result in considerably higher water costs. It was determined that an error in the meter routing was not accounting for actual usage. He also noted that the current economy is yielding lower interest rates which has negatively affected our income.

President

Ed Plummer reported the successful completion of the interior painting of the hallways in both buildings. Residents are to be commended for the extensive prep work and replacement of fixtures and paintings. The next phase is painting of the individual unit red doors which will begin next week. Arrangements are made to accommodate residents in gaining full access to the doors and proper drying time.

Ed also notes that recycling is going well, residents are making good use of the facility. He is monitoring whether the arrangement is adequate.

VI. Management Report

Kerry Farmer reported the elevator certificate frame has been installed.

Kerry suggests that the Association consider a presentation by the Fire Department on safety procedures and evacuation of the buildings. A recent false alarm caused by plumbing work revealed people used elevators to evacuate and raised the question of specific plans to evacuate physically limited residents.

Kerry stated that our Condo Association has a very high degree of participation among its officers and committees and commends all who participate. The Board and others commended Kerry on her cooperation and attention to our needs.

VII. Committee Reports

Building and Grounds

George Field reported that the separate water meters for landscape maintenance are now installed.

The board fence in the rear of Bldg. B needs maintenance.

Contracts are pending for the lobby painting planned.

A plumbing leak was discovered in the A Bldg. garage and is now

repaired.

Budget and Finance

Betty Licitra thanked Warren Miller for his report and his continuing attention to Association finances.

Legal and Covenants

Frank Hoss reported the resolution of 12 applications in the past year.

The Committee held three sanction hearings all of which were resolved.

The revised Rules and Regulations are completed and ready for distribution.

VIII Election of Member of Board of Directors, Term to expire 2010

Ed Plummer presented the application for member of the Board by Kay Franklin. Kerry Farmer presented appropriate proof of owner notification of the election by SCS. There were no nominations from the floor. Kay Franklin was elected by acclamation.

IX. New Business

In response to a question from the floor, Kerry Farmer reported that SCS is a certified management agency and Kerry herself is a certified manager.

X. Next meeting of the Board will be May l3, 2008 at 2 p.m. in the Club House Board

Room.

XI. The meeting was adjourned at 3:04 p.m.

Respectfully submitted by Barbara Dunn