Villas de CortezVillas de Cortez11stst Annual Meeting of Homeowners Annual Meeting of Homeowners

AssociationAssociation

March 27, 2010March 27, 2010Hotel Palmas de CortezHotel Palmas de Cortez

Los Barriles, B.C.S. MexicoLos Barriles, B.C.S. Mexico

Villas de Cortez – HOA Meeting 27 March 10, Los Barriles, BCS, MxVillas de Cortez – HOA Meeting 27 March 10, Los Barriles, BCS, Mx22

Villas de CortezVillas de CortezHOA Meeting Agenda HOA Meeting Agenda

1. Welcome, Introductions – Laurie Pederson1. Welcome, Introductions – Laurie Pederson - Formation of HOA, Mission Statement & Purpose- Formation of HOA, Mission Statement & Purpose2. Secretary’s Report – Karen Olesen2. Secretary’s Report – Karen Olesen3. Treasurer’s Report – Robin Jackman3. Treasurer’s Report – Robin Jackman4. Vice President’s Report – Bill Klotz4. Vice President’s Report – Bill Klotz - Pools, pumps, water heaters, parking lot- Pools, pumps, water heaters, parking lot5. Vice President’s Report – Chucky Van Wormer5. Vice President’s Report – Chucky Van Wormer - Generator, Electric meter, Future plans for Hotel & - Generator, Electric meter, Future plans for Hotel &

areaarea6. General Manager’s Report – Pepe6. General Manager’s Report – Pepe - Staff, grounds, building, guest services, personal - Staff, grounds, building, guest services, personal

2010 goals2010 goals7. President’s Report – Laurie Pederson7. President’s Report – Laurie Pederson - Overview, Future goals, - Overview, Future goals, - Election of Board Directors- Election of Board Directors - New projects- New projects - Special assessment for Generator, solar project- Special assessment for Generator, solar project

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Villas de CortezVillas de CortezIn Memorial – Bret ConnorsIn Memorial – Bret Connors

Villas de Cortez First PresidentVillas de Cortez First President

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Villas de Cortez Homeowners Villas de Cortez Homeowners AssociationAssociationMission Statement Mission Statement The Mission Statement for the Villas de The Mission Statement for the Villas de

Cortez:Cortez: It is the intent of the owners of the Villas de It is the intent of the owners of the Villas de

Cortez to maintain our investment property, Cortez to maintain our investment property, whether one owns a Studio, Master, Presidential whether one owns a Studio, Master, Presidential or Penthouse, in the best possible working order; or Penthouse, in the best possible working order; to hire a general manager to oversee said to hire a general manager to oversee said property and supervise all staff hired on behalf of property and supervise all staff hired on behalf of the Villas. the Villas.

Each Homeowner is responsible to be current in Each Homeowner is responsible to be current in their dues and attend the annual meeting their dues and attend the annual meeting whether in person or by proxy.whether in person or by proxy.

It is also the intention of said owners to have fun, It is also the intention of said owners to have fun, fellowship and “drink” in the sun and sea fellowship and “drink” in the sun and sea together with friends and family for our mutual together with friends and family for our mutual benefit.benefit.

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Villas de CortezVillas de CortezBoard of DirectorsBoard of Directors

Laurie Pederson – PresidentLaurie Pederson – PresidentBill Klotz – Vice PresidentBill Klotz – Vice PresidentCarlos (Chucky) Van Wormer – Vice Carlos (Chucky) Van Wormer – Vice

PresidentPresidentKaren Olesen – SecretaryKaren Olesen – SecretaryChris Connors - TreasurerChris Connors - Treasurer

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Villas de CortezVillas de CortezSecretary’s Report - Highlights Secretary’s Report - Highlights

11stst Board of Directors meeting held October 13, 2009 Board of Directors meeting held October 13, 2009 Bill, Chucky, Laurie – invited Robin to develop new accounting Bill, Chucky, Laurie – invited Robin to develop new accounting

system & Karen to act in advisory role.system & Karen to act in advisory role. Focus on streamlining accounting, improving transparency of Focus on streamlining accounting, improving transparency of

funds, improvement of communication funds, improvement of communication 22ndnd Board of Directors meeting held November 27, 2009 Board of Directors meeting held November 27, 2009

Focus on finalizing legal aspects of the HOA articles & BOD Focus on finalizing legal aspects of the HOA articles & BOD membership proposalmembership proposal

Developing 2010 budget, transfer of financial control to new Developing 2010 budget, transfer of financial control to new accounting systemaccounting system

Addressing various building issues, water & electric meters, Addressing various building issues, water & electric meters, Solomon’s Restaurant, staff, insurance, etc.Solomon’s Restaurant, staff, insurance, etc.

33rdrd Board of Directors meeting held December 30, 2009 Board of Directors meeting held December 30, 2009 Focus on decisions for improvement to the property – south Focus on decisions for improvement to the property – south

privacy wall, pool & garden maintenance, pool repair, parking lot, privacy wall, pool & garden maintenance, pool repair, parking lot, beach & basement clean up.beach & basement clean up.

Fine tuning of accounting system; clarify staff job performances & Fine tuning of accounting system; clarify staff job performances & expectationsexpectations

44thth Board of Directors meeting held January 22, 2010 Board of Directors meeting held January 22, 2010 Follow up of open issuesFollow up of open issues

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Villas de CortezVillas de CortezSecretary’s Report - Secretary’s Report - Action Log (22 Jan 10)Action Log (22 Jan 10)

Action # What Who Due when Status 1. Completion of south

privacy wall – adjust height as needed

Bill, Chucky Jan 2010 Wall complete; height adjusted as requested

2. Repair of pool by contractor

Chucky Work to start in Jan/Feb

Installation of side/top expansion joints complete (Jacuzzi pool)

3. Completion of covered car ports

Chucky Work to start in Jan/Feb

Open

4. Solomon’s Landing Restaurant – a. establish basic ground rules and curfew of 10pm every night; b. check on liability insurance coverage; c. review option of installing a barrier between Villas and restaurant

a. Laurie met with Oscar (manager) & set ground rules. b. We are covered for liability via our building insurance c. We will review “barrier” options during March visit

Jan 2010 Review c. in March

On-going

5. Establish “Owners’ / guests’ Manual for Villas

All Completion in 2010

Ongoing

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Villas de CortezVillas de CortezSecretary’s Report Secretary’s Report

Action # What Who Due when Status 6. See

discussion below.

Review Staff performance against job responsibilities; establish Beto as employee

All Q1 2010 Complete; Pepe and Beto status complete; review of Staff performance against objectives ongoing.

7. Pool maintenance – review equipment and training needed

Bill Q1 2010 Ongoing, some progress made

8. Establish maintenance schedule and log

Pepe Jan Complete – Pepe, Beto & Gabi each have logs. Requires ongoing fine tuning

9. Review status of elevator maintenance contract and $$ owed

Bill, Chucky Q1 2010 Records show we opted out maint. contract in 2009. Stop all future maint. visits until meeting with contractor in March.

10. Status of water and AC electric meters

Chucky Jan Open – see comments below

11. Board of Directors meeting at Los Barriles

All, establish date

March 2010 Complete – BOD meeting March 23, 2010 9 am at the Villas; General HOA meeting March 27, 10 am at the villas.

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Villas de CortezVillas de CortezTreasurer’s Financial Report Treasurer’s Financial Report

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Villas de CortezVillas de CortezTreasurer’s Financial Report Treasurer’s Financial Report

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Villas de CortezVillas de CortezTreasurer’s Financial Report Treasurer’s Financial Report

Bank fees 49.00Building Management Pepe 1300.00Garden/pool 400.00Property Insurance 328.00Pest Control 193.00Accounting - Francis 100.00Air- conditioning repair 250.00Exterior Building Maintenance 131.00Water Heater Repair 320.00Electric Common Area 1800.00Propane 328.00*Air-conditioning Electric 3500.00*Water 100.00Estimated Total Monthly Expense  8799.00

Proposed 2010 Budget for Villa De Cortez HOABased on 2009 and Q1 2010 Average Monthly Expenses

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Villas de CortezVillas de CortezTreasurer’s Report Treasurer’s Report

Solomon’s Landing Restaurant now contributing Solomon’s Landing Restaurant now contributing to HOA Presidential duesto HOA Presidential dues

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Villas de CortezVillas de CortezVice President Bill’s Report Vice President Bill’s Report

Pool - maintenance and repairsPool - maintenance and repairsLandscaping, new privacy wallLandscaping, new privacy wallWater heater & pump systemWater heater & pump systemDriveway, Parking Lot & Car PortsDriveway, Parking Lot & Car PortsBuilding MaintenanceBuilding Maintenance

Hand railsHand railsElectrical repair in basementElectrical repair in basementStair and walkway repairsStair and walkway repairsLiability signs at poolLiability signs at pool

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Villas de CortezVillas de CortezNew Driveway, Parking Lot - March New Driveway, Parking Lot - March 2010 2010

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Villas de CortezVillas de CortezNew Driveway, Parking Lot - March New Driveway, Parking Lot - March 2010 2010

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Villas de CortezVillas de CortezNew Privacy Wall New Privacy Wall

December 2009

March 2010

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Villas de CortezVillas de CortezPool Repair CompletePool Repair Complete

March 2010

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Villas de CortezVillas de CortezSerena the Mermaid - March 2010Serena the Mermaid - March 2010

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Villas de CortezVillas de CortezVice President’s Report - ChuckyVice President’s Report - Chucky

AC Electric MeterAC Electric MeterGenerator Generator Future Plans for Hotel Palmas and East Future Plans for Hotel Palmas and East

CapeCape

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Villas de CortezVillas de CortezNew Projects Under Review - New Projects Under Review - GeneratorGeneratorPlanning for GeneratorPlanning for Generator

Proposal to purchase two Cummings unitsProposal to purchase two Cummings unitsOne dedicated for building powerOne dedicated for building powerOne dedicated for air conditioning powerOne dedicated for air conditioning power

Total estimated cost $73K including Total estimated cost $73K including installationinstallation

Estimated Cost Breakdown per unitEstimated Cost Breakdown per unit 12 Studios - $1,700 each12 Studios - $1,700 each 9 Masters - $2,500 each9 Masters - $2,500 each 4 Presidentials - $5,000 each4 Presidentials - $5,000 each 1 Penthouse - $10,0001 Penthouse - $10,000 Soloman’s Restaurant - $10,000Soloman’s Restaurant - $10,000

Requires Special AssessmentRequires Special Assessment

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Villas de CortezVillas de CortezGeneral Manager’s Report - PepeGeneral Manager’s Report - Pepe

StaffStaffGroundsGroundsBuildingBuildingGuest ServicesGuest ServicesPersonal 2010 GoalsPersonal 2010 Goals

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Villas de CortezVillas de CortezPool and Garden Maintenance - BetoPool and Garden Maintenance - Beto

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Villas de CortezVillas de CortezGeneral Manager’s Report - PepeGeneral Manager’s Report - Pepe

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Villas de CortezVillas de CortezGeneral Manager’s Report - PepeGeneral Manager’s Report - Pepe

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Villas de CortezVillas de CortezPresident’s Report - LauriePresident’s Report - LaurieOverviewOverviewFuture GoalsFuture GoalsElection of Board of DirectorsElection of Board of Directors

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Villas de CortezVillas de Cortez

Solomon’s Landing RestaurantSolomon’s Landing Restaurant Curfew 10 pm establishedCurfew 10 pm established Options to control foot trafficOptions to control foot traffic

Gate with card key on south walkGate with card key on south walkRope barrier on north sideRope barrier on north side

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Villas de Cortez - New BusinessVillas de Cortez - New BusinessProjects Under Review – Solar Projects Under Review – Solar PowerPowerSolar Power project under review for Solar Power project under review for

heating of Jacuzzi Pool during winter heating of Jacuzzi Pool during winter monthsmonths

Preliminary bids coming inPreliminary bids coming in

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Villas de CortezVillas de CortezHow Far We’ve Come – The BeginningHow Far We’ve Come – The Beginning

September 2004

December 2004

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Villas de CortezVillas de CortezHow Far We’ve Come – The BuildingHow Far We’ve Come – The Building

November 2005 June 2006

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Villas de CortezVillas de CortezHow Far We’ve Come – The BuildingHow Far We’ve Come – The Building

July 2006 August 2006

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Villas de CortezVillas de CortezHow Far We’ve Come – The BuildingHow Far We’ve Come – The Building

October 2007

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Villas de CortezVillas de Cortez How Far We’ve Come – The Pools How Far We’ve Come – The Pools

March 2007May 2007

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Villas de CortezVillas de Cortez How Far We’ve Come – The Jacuzzi How Far We’ve Come – The Jacuzzi PoolPool

June 2007

June 2007

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Villas de CortezVillas de CortezHow Far We’ve Come – The Infinity How Far We’ve Come – The Infinity PoolPool

April 2007

August 2007

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Villas de CortezVillas de CortezMorning Rush Hour at the Palmas, Morning Rush Hour at the Palmas, VillasVillas

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Ole and Don Roberto - Two Fun Guys – Ole and Don Roberto - Two Fun Guys – (Mar (Mar

07)07) (who couldn’t be here today)(who couldn’t be here today)

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