Section III Minutes to the Annual Meetings 2018 and 2019

2018-11-29 Fairway View COA 2018 Annual Membership Meeting Minutes Page 1 of 3

Fairway View COAc/o Northwest Management Exclusive, Inc.

Office: 11715 NE Crestwood Drive, Vancouver, WA 98684Mailing: P.O. BOX 872077, Vancouver, WA 98687-2077

(360) 896-8351 associations@nwmonline.com

Fairway View Condominium Association 2019 Annual Membership Meeting

Thursday, November 29, 2018 Fairway Village Clubhouse

15509 SE Fernwood Drive, Vancouver WA 98683

1:00 pm

Board of Directors Present: Dorothy Mullin Charles Harless Frances Skinner

Guests: Leslie Willey, managing agent, Northwest Management Exclusive, Inc. Doug McLain, CPA, C.O.R.E. Services, LLC John Caughell, CPA, C.O.R.E. Services, LLC

Call to Order: Dottie Mullin, president, called to order at 1:20 pm the 2018 annual membership meeting of the Fairway View Condominium Association. She voiced appreciation to those who attended the meeting.

Establishment of a Quorum: A quorum was established 54 unit owners present and 22 unit owners represented by proxy, which totaled 76 units.

Approval of 2017 Annual Meeting Minutes – October 26, 2017:

Motion: Dick Gilbert moved to waive the reading of the minutes and to approve the minutes as written. Tom Gaffney seconded the motion. The motion passed.

Officer Reports/Committee Reports:

Landscape Committee – Fran Skinner: o Shrub pruning – invited to speak with Fran for additional detail. Rhododendron

on list to be pruned. o Tree Work – completed for 2018, but more to be completed in 2019. Invited to

speak with Fran to discuss the trees to be removed and replaced. The trees to be removed are those that are causing damage to the common area and buildings. The replacement trees are a species of Dogwood.

o Considering changing the landscape maintenance company. Maintenance Chair – Chuck Harless:

o Freezing weather is imminent so hose bibs should be shut-off now. If in need of information concerning ownership and/or location, contact a Board member.

o Building 5 & Building 6 – Bad electrical contact for the outside lights was replaced. If the buzzing sound returns, then the photocell will need to be replaced.

o Building 18 – In process of identifying a concrete contractor to replace the slab of concrete in front of west foyer entry. The slab was raised and the crack was

2018-11-29 Fairway View COA 2018 Annual Membership Meeting Minutes Page 2 of 3

sealed. Water is now pooling instead of draining away from the front door access.

o Building 18 – Water leak in foyer between unit 117 and unit 118. The cause andresponsibility are yet to be determined as there are two tub/shower unitsbehind that wall.

o New bids for garage and garage surround repairs were received from IBI. Thecompany for which Patrick Henry now works. IBI was the firm that was used forthe siding and window project. The bids were less than the ones from LifetimeExteriors. The BOD will identify which vendor to hire, then the project will bescheduled for completion.

o Dryer vent cleaning, chimney inspections, and gutter cleaning are underconsideration as well.

Treasurer Report: Linda Black was not in attendance. John Caughell of CORE Servicesand Doug McLain provided responses to the unit owner questions and the financialreport.

o Payment of December 2018 and January 2019 assessments: Remittance optionsare by check mailed to FWVCOA or auto-withdrawal (funds withdrawn fromaccounts on the 10th of each month).

o Credit cards are not an option yet nor are coupon books.o Statements will be mailed to each owner which details the charges for next year.

If payments have been remitted, but not reflected on the statement, a revisedstatement will be mailed.

o It was strongly recommended that unit owners opt for auto-withdrawal. It is thepreferred method of payment of the monthly assessments.

Election of Officers: Dottie Mullin announced that Vera Christianson withdrew her name and was not able to volunteer to serve on the BOD. Given there were only two Director positions available, given that two owners volunteered to be candidates to serve, and given there were no nominations from the floor, therefore, Maureen Kirkpatrick and Anthony Mirarchi were administratively elected to the Board of Directors of the Fairway View Condominium Association.

Unfinished Business: None to report.

New Business:

Budget for Year-Ending December 31, 2019 – Ratification: John Caughell, COREServices, LLC, provided information on the budget for the year-ending December 31,2019.

o Question inquiring why the assessments were increased or decreased? –Assessments are calculated pursuant Schedule C in the CC&RS. This scheduleexplains voting rights and how assessments are to be calculated. Historically, thebasis for the calculations was not in compliance with schedule C of the CC&Rs.This has been corrected and all accounts reconciled based on this schedule,which has caused some assessments to increase while others have decreased.The BOD conferred with counsel that recommended that Schedule C be followedfor calculating the assessments per unit.

o Checks are to made payable to Fairway View Condominium Association.

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o Remittances that are in the form of one check are applied to the 2016 specialassessment first, then the 2018 special assessment. The remaining balance isapplied to the monthly assessment, which will be paid by year-end.

o Dottie Mullin requested a motion to reject the budget for the year-endingDecember 31, 2019, for the Fairway View COA. No motion was moved. Thebudget for the year-ending December 31, 2019, for the Fairway View COA wasratified.

IRS 70-604: BOD decision, not a membership decision.

Adjournment: Dottie Mullin adjourned the 2018 annual membership meeting of the Fairway View Condominium Association at 2:15 pm.

Written by: Leslie Willey, Northwest Management Exclusive, Inc.

Secretary Jan 27 2020

2019-10-24 Fairway View COA 2019 Annual Membership Meeting Minutes Page 1 of 3

Fairway View COA c/o Northwest Management Exclusive, Inc.

Office: 11715 NE Crestwood Drive, Vancouver, WA 98684 Mailing: P.O. BOX 872077, Vancouver, WA 98687-2077

(360) 896-8351 associations@nwmonline.com

Fairway View Condominium Association 2019 Annual Membership Meeting

Thursday, October 24, 2019 Fairway Village Clubhouse - Ballroom

15509 SE Fernwood Drive, Vancouver WA 98683

1:00 pm Board of Directors Present: Linda Black Anthony Mirarchi

Maureen Kirkpatrick Ed Lovett

Guests: Leslie Willey, managing agent, Northwest Management Exclusive, Inc. Doug McLain, CPA, C.O.R.E. Services, LLC John Caughell, CPA, C.O.R.E. Services, LLC

Call to Order: 1:10 pm

Establishment of a Quorum: • Unit owners present – 41. • Unit owners represented by proxy - 27. • Totaled 68 units.

Approval of 2018 Annual Meeting Minutes – November 29, 2018: • Reviewed. • Motion: Maureen Kirkpatrick moved to waive the reading of the minutes from the

Fairway View COA 2018 annual membership meeting held on November 29, 2018. Tony Mirarchi seconded the motion. The motion passed.

• Motion: Maureen Kirkpatrick moved to accept as written the minutes from the Fairway View COA 2018 annual membership meeting held on November 29, 2018. Tony Mirarchi seconded the motion. The motion passed.

Officer Reports/Committee Reports: • Maintenance Chair – Anthony Mirarchi:

o Reserve Study one main focus for year. Determined the study was initially too high with life-spans for the Association’s capital assets set to short. Able to reduce the recommended reserve funds from 6.6 million to 4.8 million which represents a savings of 1.6 million saving each member an estimated $469.00 per year. Tony cautioned that these are all estimates.

o The budgeted utility expenses for electricity have been reduced from $10,000.00 to $6,000.00 based on anticipated energy-saving projects, such as the replacement of fixtures with motion-detector LED lights scheduled for next year.

o Waste surrounds were excluded from the garage project. A committee was created that determined the number of waste surrounds can be reduced from ten to seven and compact the size of the containers. This will represent an estimated savings of $236.00.

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o Garage near Building 16 has an electrical issue that is temporarily fixed. The repair of all of the lines will require a trench across the walking path to be completed at a later date.

o Projects for 2020: Waste surrounds – remove and replace. Foyers – paint the doors, new carpet in the first eight buildings, change

the light fixtures to motion detector fixtures, and Freeze Misers on each outside spigot – no need to shut-off the water now.

• Secretary Report – Maureen Kirkpatrick: o Collaborated with NWME with the enrollment of members to receive

notifications and communications electronically. o In 2020 would like to create a record retention committee to gather and store all

of the Association’s records in one location, anticipate an Association website, for ease of access by members.

o The rules and regulations committee was formed April 2020. The committee members were Tom Fronk, Judy Elliott, Sharon Heydet, Mary Van Sandt, and Ed Lovett. The committee was tasked with updating the rules and regulations document, which was presented to the Board on August 8th. Simultaneously, the finance committee along with Ed Lovett, treasurer, were reviewing an ongoing assessment issue. It was determined the best course of action would be for the Board to hire an attorney to review the governing documents and the rules and regulations document. The attorney has received the Association’s documents and has provided comment which is under consideration by the Board of Directors. The rules and regulations committee is on hold pending instruction from the Board, which will not be received until next year.

• Treasurer Report – Ed Lovett: o Provided comments on the budget for the year-ending December 31, 2020.

Acknowledged and thanked the budget committee members, Linda Black, Fran Skinner, Chuck Harless, Mac Stevens, Rob Fleskes, and Tony Mirarchi. The committee met about five times.

o FWVCOA 2020 budget – increase in utilities and insurance due to earthquake coverage; decrease in management fees, increase in reserve fund due to paving and sidewalks.

o Hope to pay down the loan in 2020 due to the collection of funds from the special assessment.

o John Caughell from CORE Services presented the financial status of the Fairway View COA. COA on the road to be financially solvent in future years. In 2017-2020 – excess funds have been applied to the loan In 2016, 2017, and 2018 budget deficit which resulted in borrowing from

the reserve account, which was not part of the budget. Currently in 2019, there exists a surplus of $35,000.00, which will be applied to repay the reserve account. In 2020, the reserve funds will be in balance.

Budget for YE 2020.1231 reflects an increase in landscape expenses and an increase in utilities by three percent.

o Unit owners were encouraged to opt for auto-withdrawal. It is the preferred method of payment of the monthly assessments.

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Election of Officers: • Nominations from the floor solicited – none received. • Given there were only three Director positions available, given that three owners

volunteered to be candidates to serve, and given there were no nominations from the floor, therefore, Linda Black, Ernie Norton, and Edward Lovett were administratively elected to the Board of Directors of the Fairway View Condominium Association.

Unfinished Business: None to report.

New Business: • Budget for Year-Ending December 31, 2020 – Ratification:

o Tally of votes: To ratify the 2020 budget: 26 ballot vote & 25 proxy vote Not to ratify the 2020 budget: Five ballot vote only

o The budget for the year-ending December 31, 2020, for the Fairway View COA was ratified.

• Open Forum: o Ernie Norton, chair of the Flintstones, shared that his committee had moved rock

and dirt to almost every area in need of attention in the common area. The committee has addressed about 95% of the projects. Appreciation for the efforts was voiced. To ratify the 2020 budget: 26 ballot vote & 25 proxy vote Not to ratify the 2020 budget: Five ballot vote only

o It was announced that Leslie McDonald will be replacing Richard Heydet, who coordinated the community garden. Appreciation voiced for Mr. Heydet’s service to the community. It was noted that Karen Couture works in the community garden as well and is appreciated.

o FWVCOA 2019 Christmas Party Friday, December 6, 2019 at 5:00 pm in the Ballroom. Potluck Photobooth Chorus Performing

o Brenda Norton voiced appreciation to the Board of Directors, to the volunteers on the committees, to CORE Services, and to Northwest Management Exclusive, Inc. She encouraged others to join committees.

Adjournment: 2:00 pm Written by: Leslie Willey, Northwest Management Exclusive, Inc.

Fairway View Condo’sFinancial History in Review

$175,000

$180,000

$185,000

$190,000

$195,000

$200,000

$205,000

$-

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

$800,000

$900,000

$1,000,000

2016 2017 2018 2019 (Proj) 2020 (Proj)

Reserve Dues to Investment Balances

Reserve Investment Reserve Dues

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

2016 2017 2018 2019 (Proj) 2020 (Proj)

Reserve Reveue and Expenses

Reserve Dues Special Assessment Reserve Spending

$10,000

$60,000

$110,000

$160,000

$210,000

$260,000

$310,000

$360,000

$410,000

$460,000

$510,000

$560,000

$610,000

$660,000

$710,000

$760,000

$810,000

$860,000

$910,000

$960,000

$1,010,000

$1,060,000

$-

$200,000

$400,000

$600,000

$800,000

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

$2,200,000

January 1,2016

Assessed SpecialAssessment

InsuranceProceeds

Interest ReserveProjects

Loaned toOperating

Loaned toConstruction

December31, 2020

Five Year Reserve Source and Use

Reserve Balance Amount

Section 3 annual meeting2018-11-29 FWVCOA 2018 Annual Membership Meeting Minutes approved2019-10-24 FWVCOA 2019 Annual Membership Meeting MinutesEstablishment of a Quorum: Unit owners present – 41. Unit owners represented by proxy - 27. Totaled 68 units.Approval of 2018 Annual Meeting Minutes – November 29, 2018: Reviewed.Election of Officers: Nominations from the floor solicited – none received. Given there were only three Director positions available, given that three owners volunteered to be candidates to serve, and given there were no nominations from the floor, therefore, Linda Black, Ernie Norton, and Edward Lovett were administrativel...Unfinished Business: None to report.New Business: Budget for Year-Ending December 31, 2020 – Ratification: Open Forum: