May 18, 2021 Annual Meeting



May 18, 2021

BOARD MEMBERS PRESENT: Dave Young, Gretchen Stubenvol, Chan Pollock, Angie Mays, Dan Fesenmeyer, Jonathan Foytlin, Cindy Middleton

OTHER HOMEOWNERS PRESENT: Dennis Keating, Roxanne Smith, Chris Jenkins, Shelly Sunderhuis, Bruce Bernstein, Leanne Fesenmeyer, Rita Pollock

12 of 53 (22%) of the Lots were represented in person at the Annual Meeting (the “Meeting”), constituting the requisite 10% quorum per Section 4.5 of the Amended Bylaws.  After introductions of all present, the Meeting was called to order at 6:41 pm at the Tuscany Tavern in Evergreen, Colorado.  The Agenda for this Meeting was approved by voice acknowledgement without discussion or objection.

  1. Minutes from Prior Meeting:  The minutes for the prior meeting Board Meeting (February 8, 2021) were reviewed by the Secretary (Chan Pollock).  Meeting minutes were approved by voice vote without objection.
  2. Treasury Report: The Treasurer (Gretchen Stubenvol) delivered the treasurer’s report regarding a draft budget for 2021 that had been previously circulated via e-mail for comment to the Board.  The draft budget included a proposed $35 per quarter dues increase commencing July 1, 2021 and expense increases for landscape changes at the front entrance, including sprinkler system and lighting maintenance.  Snow removal and waste removal also necessitated increases.  The proposed budget with the dues increase forecasted a $2,300 contribution to the Reserve Account (for large future items like Road Replacement, Fence, etc.).  Chan presented a Reserve Analysis Schedule that analyzes the annual Reserve contribution requirements to remain on schedule for estimated replacement, and that schedule estimated that we should be contributing nearly $10,000 to the Reserves each year.  There was considerable discussion amongst all present regarding additional expenditure requirements for distressed neighborhood signage and the need to increase our Reserve contributions.  After considerable discussion, it was determined that the landscaping account could be held flat to 2020 by eliminating the winter watering and improved estimates regarding sprinkler zone repairs, and increasing the quarterly dues contribution by $85 per quarter (versus the proposed $35 per quarter).  These changes would result in enough to adequately handle the operating increases for 2021 AND appropriately fund the reserve account.  The proposed budget as amended above and dues increase was approved unanimously via raised hands (one vote per LOT).
  3. Road Maintenance:  As part of the Treasury Report discussion, Member Dan Fesenmeyer has reached out to several road replacement contractor and has requested that they look at our roads and provide expert opinion regarding remaining life and costs to replace.  This should occur over the next 2-3 months.   Once these expert opinions are received, the Board can adjust the Reserve schedule accordingly and propose a Road Replacement window to the Lot owners.  Windom was also discussed, and Dan has reached out to the County (Windom is a county road, all others are HOA owned and maintained) regarding their intent to resurface and reshoulder the road, as it has fallen into disrepair.  Lot owner Jenkins felt that we needed a solid message regarding the roads, expected cost and expected replacement date, which Secretary Pollock will do with the next neighborhood e-mail communication.
  4. Fire Mitigation efforts for 2021:  A Lot owner asked the Board via e-mail if we had any plans for fire mitigation efforts built in to the budget for 2021.  We had done so in 2020 and the Board felt we could re-address in 2022 on an every other year schedule.  No action required.
  5. Parking and Renters on Bross:  A Lot owner present at the Meeting expressed her disappointment that, in her opinion, a Bross Lot owner continued to violate certain Covenants regarding street parking by a supposed renter of part of that Bross property.  Others present at the meeting felt there were several street parking violations throughout the neighborhood, including another situation on Bross.  The covenants expressly forbid street parking for more than any 10 hours in a 48 hour period.  The Board agreed, without objection, that a reminder note regarding parking would be sent to ALL Lot owners, and that President Young would have another discussion with the Bross Lot owner(s) violating the Covenants.  Should the parking behavior continue, the Board will consult with the HOA attorney regarding further action against the Lot owner(s).
  6. Garage Sale and Dumpster Weekend:  A brief discussion of the Garage sale/dumpster weekend took place.  Member Cindy Middleton is handling this.  Gretchen recalled that the “free” pile at the dumpster was a big problem last year in that those that placed materials in the free pile didn’t return to toss them into the dumpster at the end of the weekend and we were left with a free pile for a few more weeks until the Board obtained an additional dumpster.  It was proposed that this year we notify the Lot Owners that they should place “free” items at the end of their driveway during the Garage Sale (Saturday) and should they go unclaimed by Garage Sale traffic, the Lot Owner has the responsibility to deliver it to the dumpster or return it to their garage by Sunday night.  This suggestion was approved without objection and it will be included with the next neighborhood e-mail.
  7. Annual Election:  The Annual Election was duly held per the Amended Bylaws.  Lot owners Sunderhuis and Jenkins expressed interest in Board positions.  Current Board Members Young and Pollock’s terms were expiring at the end of this Annual Meeting, and expressed the desire to allow others to step in and serve the community.  As such, Lot Owners Sunderhuse and Jenkins were elected to three year terms commencing today.  The Board and Lot Owners present thanked outgoing Board Members Young and Pollock for their many years of service to the Promontory.  The Board then elected members Angie Mays as President, Dan Fesenmeyer as Vice President, Gretchen Stubenvol as Treasurer, and Chris Jenkins as Secretary.
  8. Next Meeting: The Board set the date for the next meeting  – Aug 10th, 2021, 6:30pm at Board Member Stubenvol’s home.

The meeting was adjourned at 8:45 pm.

Submitted By: Chan Pollock, Board Secretary