The meeting was held at the residence of Stuart and Virginia MacPhail, 1133 Race Street.

The minutes were taken by Pok Payattakool . 

The following members were in attendance.  Stuart MacPhail (Units 1A, 3, & 4), Eric Guetterman (Unit 8), Ken Coombs (Unit 5), Pok Payattakool (Unit 2A), Keith Rundle (Unit 4A), and Burton Solseth (Unit 3A). No proxies were received.

A quorum was declared and the meeting was called to order at 7:20 PM , by Eric Guetterman.

Minutes:

Minutes of the November 16, 2005 membership meeting were reviewed.  There have been no Membership meetings since that date.  Ken moved for approval of the November 16, 2005 Minutes as presented.  Eric seconded the motion, and it was unanimously approved.

Treasurer’s Report:

Stuart MacPhail presented the Treasurer’s Financial Report.  It consisted of Operating Account Balance Sheets dated 12/16/2007 and 7/31/07 and 7/31/06, Profit & Loss Statements dated 8/06 to 7/07 and 8/05 to 7/06, and a Reserve Account Balance Sheet dated 12/14/07, 7/31,07, 7/31/06, a Reserve Account Profit & Loss Statements dated 8/06 to 7/07 and 8/05 to 7/06.

Pok moved for approval of the Financial Report, subject to two changes. The two changes involved $20/month Web maintenance expense and $9/month in interest income.  Keith seconded the motion, and it was unanimously approved.

MacPhail presented a tentative Budget for Fiscal Year 1/1/08 to 12/31/08.  Eric moved for approval, and Pok seconded the motion. It was unanimously approved.

MacPhail reported that in compliance with a resolution adopted by the members on 11/16/05, the Association’s Operating and Reserve accounts are now at USB Bank (formerly known as Mountain States Bank). 

GENERAL BUSINESS:

·        It was determined that the 1349 Race sewer lines have not been cleaned out since April 2002. Keith was selected as the person to follow up on this activity. By August 31, 2008, Keith will ensure that all four drains at 1349 Race (including the one located in the laundry room) is inspected and cleaned for proper function and drainage.

·        Keith inquired about window replacements, and he was referred to the guidelines for details.

·        Attendees discussed the crushed flower beds, due to the recent snow/ice pack falling onto the beds. This issue was related to the side of the building that has the mailbox. It was decided that there will be no plastic (or other material) shield built for the flower beds at this time. Due to cost and time considerations of building the contraption, attendees decided instead that the flowers will be replaced.

·        Burt withdrew his request for increased pay for his duties of grounds maintenance.

·        Parking issue – There was a recent issue of parking two cars back-to-back into one space. A flyer was distributed to the units previously, and the tenant was duly notified. Attendees agree that the issue was resolved.

·        It is requested (but not required) that the Association has a spare key for your unit(s). In the case of an emergency and access into your unit is necessary, if there is no key for entry then damages to your place (ie, a broken down door) is at the owner’s expense. Refer to Stu for any more inquiries and/or to submit the spare key to the Association.

·        It was noted that the boiler may need to be replaced in 3-5 years, at which time members will decide whether to use the reserve funds or to pay a special assessment.

·        There will be a 1349 Race Street Condo Association NEW YEAR's PARTY at 7 pm on Saturday January 5, 2008. Owners and tenants are invited, and the informal, casual event will be held at Wyman's No. 5. (On 13th Avenue, next to Lik's Ice Cream). Address: 2037 E 13th Ave Denver, CO 80206-2003 Phone: (303) 996-0842. Please join us to meet your neighbors and/or tenants. Ken will be distributing notices to all units prior to the event taking place. Questions about the event, please contact Pok (dararat27@yahoo.com)

Election of Board Members –

In compliance with Section 4 of the Association’s By-Laws, it was pointed out that a minimum of three Members and a maximum of five Members could be elected to comprise the Association’s Board of Directors, to be elected annually to one-year terms.  All of those terms have expired.

The floor was opened to nominations. The following persons were nominated: Pok, Kenneth, Stu, Keith, and Eric to serve one-year terms as Directors on the Board.  There being five nominations, and five openings, Pok moved that the five nominees be elected by acclimation. The motion, seconded by Stu, was unanimously approved.

Adjournment:

At 8:27 PM, Eric moved for adjournment.  The motion, seconded by Stu was unanimously adopted, and the meeting concluded.

 ================================================