Leewood Homeowners Association

Special Board Meeting

July 3rd, 2007

Minutes

Leewood Homeowners Association
Special Board Meeting Minutes
July 3, 2007

A special meeting of the Board of Directors was held on 3 July 2007 at 7:00pm. The meeting was held at 7013, Springfield, VA 22151. The purpose of this meeting was to discuss the 2007 Reserve Study Draft submitted to Leewood by Reserve Advisor’s, Inc., the company we have contracted to do our Reserve Studies.

Attendees:
Janet Rourke - President
Bob Chilakamarri – Vice President
Rose Weber – Secretary
Melinda Ford – At Large
Leona Taylor – Financial Secretary
Al Carchedi - Homeowner

The meeting was convened at 7:04 pm and immediately went into Open Forum. Since no homeowners present had any issues to discuss other than those related to the 2007 Reserve Study Draft, the Board moved immediately to discussion regarding that subject, which was the purpose for the Special Meeting.

Board members had previously received a copy of the draft 2007 Reserve Study and had been asked to review it. General discussion centered on whether the assumptions made by the study were reasonable as stated and in those cases where they were found not to be reasonable, what would be considered realistic and reasonable for Leewood. Discrepancies in the draft study, both administrative and factual, were also identified. Changes in format (since the last report) were also discussed and it was decided that we would ask that the report go back to the previous format if possible as we found it easier to read/understand.

Specific discussion focused on the schedule of capitol maintenance & repair to Leewood, such as street paving, sidewalk repair, perimeter fence repair/replacement etc. The Board discussed and compared what the Reserve Study recommended and what the Board felt was needed, and when, based on Leewood history, current needs and costs and what residents have indicated they desire.

A list of questions will be compiled for the Reserve Advisor’s, Inc. along with a list of items for correction. These lists will be presented to Reserve Advisor’s, Inc. so that a new draft can be compiled and resubmitted to us; if necessary, additional meetings will be held on this subject until the Reserve Study draft is found acceptable to go final. Reserve Advisor’s Inc. allows 6 months for this process and will adjust the draft report, at no additional charge, during that time or until such time as we advise them that we accept the report as final.

The meeting was adjourned at 8:50 pm.

Certified for the record:

___________________ _____________
Rose Weber, Secretary Date
LHOA