Ponderosa Trails Homeowners Association
Annual Meeting
October 26, 2006 at 7 PM
Woodlands Radisson
Flagstaff, Arizona

Minutes
(Page 1 of 3)

The meeting was called to order by at 7:06 PM. A quorum was not achieved, as twenty-five percent (25%) of the Homeowners were not represented by being present or sending in a ballot. Board President, Bill Menard, cancelled the meeting and adjourned at 7:07 PM. A subsequent annual meeting was called five (5) minutes later.

Subsequent Annual Meeting

  1. The subsequent annual meeting was called to order at 7:12 PM. A quorum was achieved, with ten percent (10%) of the Homeowners represented by being present or sending in a ballot. Board President, Bill Menard, made a small introduction of the board members.

  2. The Homeowners reviewed the 2005 Annual Meeting minutes and MSA the minutes as submitted with one (1) change to item #11: the name "Carl Burkhalter" will be changed to "Scott Weber".

  3. The Homeowners reviewed the September 2006 Financial Report and MSA the report as submitted. The HOA has a website that homeowners can view: ponderosatrails.org.

  4. Board President Bill Menard presented the Capital Reserve Analysis to the Homeowners regarding the raising of annual dues.

  5. The Homeowners discussed the Capital Reserve Analysis as follows:
    Action #1: Finish paving 4 of 5 remaining trails: $9.48 per year raise per lot.
    • The reason that new trails were paved before older trails was the older trails were not wide enough for the paving equipment and need to be done by hand. The older trails will be paved in the spring of 2007.
    • The trails have been paved by the direction of the Homeowners and are easier to maintain during the winter months.
    • The PM will have the contractor fix the holes on the trail that comes up from Hance Trail.
    Action #2: Needed to be saved over the next 5 years for crack & slurry seals of all trails: $7. 11 raise per year per lot.
    • The run off of water from the city trail will be discussed at the Board meeting.

    (Page 2 of 3)

    Action #3: Needed to balance cash flow of $5,000.00 per year: $7.90 raise per year per lot.

    • No discussion
    Action #4: To match event fund currently provided by MCPM, LLC: $3.16 raise per year per lot.
    • The objective of providing events during the year is to provide a sense of community; the Board has not discussed charging Homeowners for coming to the events but will discuss this option at the next board meeting.
  6. The results of the voting is as follows:
    • Proposed Action #1: Passed 65 to 25
    • Proposed Action #2: Passed 71 to 18
    • Proposed Action #3: Passed 72 to 17
    • Proposed Action #4: Not Passed 52 to 39 (needed 75% of the vote)
    • Jill Divine and Brian Burton were voted to the Board of Directors

    The Annual Dues for 2007 will be raised to $144.50 per year.

  7. The PM does violation once a month, takes pictures of what he can see to send with the violation. Any Homeowner can call the PM to report violations they witness. The PM explained the new State Law.

  8. If a Homeowner does not landscape their property, a violation will be issued. The HOA can fine the Homeowner if not done in a timely manner and the Board can approve for the violation to be sent to the Attorney who will charge the Homeowner $160 initial cost and $5 per day of non-compliance with the CC&R's.

  9. Homeowners can call Flag PD if cars are parked on the sidewalk, and they will be ticketed. Can not park on the street during the winter months which is October to May. If a vehicle does not move, call the PM to have towed.

  10. The PM will go over to Lot #5 8 8 to check on dead branches on the property.

  11. The PM is waiting for bids on placing rocks in the parkway for review at the next board meeting.

  12. The trees planted in the parkway along Dory have died. If the trees are still under warranty under the zoning requirement, the zoning enforcement can have them replaced. If the trees are not still under warranty, the HOA will need to replace the trees.

  13. The Board President, Bill Menard, will call the City Engineer to see why the curb in front of Lot #578 was not painted red.

  14. The financial department of MCPM, LLC will change the reports to show capital reserve separate from operating capital.

    (Page 3 of 3)

  15. The landscaper hired to remove snow is only required to remove snow from in front of the mail boxes. Snow is not removed from the trails unless it is really deep, the Board did not budget for snow removal on the trails. The Homeowner is responsible from removing snow from the sidewalks.

  16. If the lot is vacant, call the PM who will have the snow removed and bill the Homeowner.

  17. Homeowners have 90 days to submit a landscaping plan to the Board for approval. The Homeowner can notate the date they will complete the landscaping of the property.

  18. The Homeowners gave the Board of Directors a round of applause for doing a great job.

  19. The meeting was adjourned at 8:50 PM.

Respectfully submitted,

Mark Caro Property Management, LLC