PPHOA Board Meeting Minutes--October

PPHOA meeting AGENDA

8 October 2013

Treasurer’s Report

Balance in checking is $49,512

$38,582 last year

We have small problems with dues—notices might go out at the end of the month as reminders

Report on Action Items

1.     Norm update on insurance.

a.     Angel and our homeowners insurance.

b.     Tanya Toles with additional insurance policy report.

Norm had a thorough talk with Dastrup Insurance.  He spoke with a man named Cody.  Cody is willing to come to a meeting and answer our questions.  Norm felt he was very straightforward and thorough.  He specializes in commercial insurance. 

·      The laws have changed in Utah—we are now no longer in compliance with the new codes for insurance.  We need to confirm this.

·      We need to have coverage in case something happens.  He suggests that there is a new law that we need to also cover all the units. 

·      We need to find out what kind of coverage each unit needs to have.  How do we find out if everyone is in compliance?  This is a tricky job. 

·      Norm has an email that will explain things further.

·      The other area is with liability.  We have the standard at 1 million.  So we probably don’t need to raise this.

·      We believe that homeowners insurance should cover only your own home, but you also might have liability insurance in case of fault. 

·      We are registered with the state so that we can hold any of the units with a lien.  There is a continuing lien.  The threat that we can encumber a home is enough to help people pay their dues.  Also, the cumulative late fee encourages ($60 after 3 months). 

We haven’t paid State Farm for 3 months.  We need to take care of this.

·      Where are the statements?  Tanya might have these. 

·      When DeeAnn checks the box, she immediately gives anything from insurance stuff to Tanya. 

·      DeeAnn will pay the insurance bill. 

We need to be careful with kids climbing trees.  This is not a liability issue, but something we still need to make notice of. 

How do keep ourselves covered?  We can never keep ourselves entirely covered. 

1.     Should we ask Tanya to come to a meeting for a report?  Norm will contact her. 

2.     We could do a blanket coverage of all the houses, which would lower individual costs, but would be too much control and fiduciary responsibility on the board.

3.     We could possible get a policy that would cover damage if a policy is lapsed.

4.     These are all questions we can ask Cody next time. 

5.     We need to trust that owners have a vested interest in being insured. 

6.     The most important part of the compliance is having an “additional insured clause.”  This means that if there is a claim and they don’t pay that until both of the insured people have signed off on the disposition of the money, which means that the homeowner will rebuild the place.  Additional insured requires the signature of the board as well as the homeowner.

Megan is still working on making the 15 hard copy packets.

1.     The articles of incorporation.

2.     Many amendments.

a.     The city wouldn’t sign off on the last two amendments.  They are only notarized.

b.     Chuck feels that they don’t have to be recorded by the city to be valid.

c.     Some other amendments

                                               i.     Setting up a reserve fund

                                             ii.     Changes how to use funds—2 /3 owner to 2/3 of a quorum at the general meeting

                                            iii.     No short-term rentals—at least 6 months

                                            iv.     Okay to have 9 board members if want

3.     Megan will put together a preview packet to make sure that it has everything that homeowners should have.

300/unit=$11,000 cost.

We’ll do it in the spring.  CHUCK WANTS TO SPEND MORE MONEY!!!

Staining the fence in the spring.  Powerwash, dry for a few days, and then stain.  Marcello has people who will help right away.  We need written bids for both projects.

Thanks for the email approvals.  Megan has posted the minutes from last month on the new website.  Address:  parkplaceorem.blogspot.com.  Also, if you want to friend me on FB, I can add you to the PPHOA FB group.

 

2.     Other?

New Business

1.     Review letter for homeowners in re: door/shutter painting plan.

2.     Review color choices with Marcello.

3.     Gather notification items for newsletter:

a.     We will not paint the fence until the spring.

b.     Door/shutter painting plan for the spring.

c.     Announce website and FB page

d.     Other?

                                               i.     Trees are not for climbing and remind about adult supervision (rules0

                                             ii.     Check your insurance and make sure that you have enough coverage AND that you have an additional insured.

                                            iii.     Note in the newsletter about parking.

                                            iv.      

Move Glen’s red SUV away from the grate.

Parking issues:  we need to remind folks to not park behind garages.  DeeAnn will put notes on windows.  Why don’t we just tow people that aren’t in compliance?  Can’t tow because a policeman says a lawsuit might happen.  But why?  No one knows. 

Next time we resurface.

·      DeeAnn suggests taking out the speed bumps.

·      Megan suggests replacing with standard size speed bumps.

·      Chuck suggests leaving the speed bumps as is.