Meeting called to order Thursday, March 1, 2012, at 5:00 p.m. via teleconference. Quorum established.

Attendance

Darius Hodge, Brandon Burke, CJ Sinar, Brad Davis, and Kristy Cowell

Business

Water Leaks

There is a history of recurring water leaks in one residential unit, the 870 Clubroom, and the Property Manager?s Office. Kristy Cowell has overseen efforts to remedy these leaks, including repeated attempts by the builder to remedy the issues. An expert, Steve Ray, has investigated and issued a report concluding that the defects causing the water leaks are latent. Other contractors who have investigated concur in that conclusion. Kristy Cowell is continuing efforts to arrange for further repairs and payment/reimbursement for bills relating to the water leaks.

Change In Officers

The Board discussed the need to re-designate officers given that one officer has moved out of the building but intends to retain ownership of his unit. However, this Board member will remain on the Board.

Delinquent Homeowner

Kristy Cowell explained efforts to obtain overdue HOA dues from one resident who has fallen behind on payment. The Board discussed options to accommodate the resident?s financial condition and capabilities while still ensuring a fair and balanced outcome for the interests of the 870 Inman Community.

Purchase of the Property Manager?s Office

The builders currently own the Property Manager?s office and are renting it to the 870 Community. The builders have proposed a plan under which the 870 Community can purchase the office. The Board is waiting for the builders to resolve some outstanding issues relating to property-tax valuation of that space, and upon doing so, the Board will engage the builders in further discussions for the purchase or continued renting of that space.

Adjournment

The meeting was adjourned at approximately 5:53 p.m., with the next meeting to occur one month later or at such time as the Board deems necessary in accordance with the by-laws.