Meeting called to order Tuesday, April 6, 2010 at 7:40 p.m. in the 870 Inman Clubroom by the Association President, Hunter Ford; quorum established.

Attendance

Brad Davis, Hunter Ford, Darius Hodge, and Brandon Burke*

Kayron Warren, absent, gave prior notification

Business

Approval of Previous Minutes

Minutes of the January 21, 2010 Board of Directors Meeting approved

870 Website

The Board discussed continued updates to and reformatting of the 870 Inman website. The Board determined that to update residents on the status and capabilities of the new website, an additional email would be sent to 870 residents.

Resident Contact Information & Directory

Presently, 870 Inman does not have any up-to-date directory of contact information for its residents other than an email list that may need to be updated to account for new residents and residents whose email addresses have changed since the list was compiled. The Board discussed and resolved to pursue creation of an updated and more comprehensive directory of 870 residents to include current email addresses, cell phone numbers, and home phone numbers. Disclosure of such contact information will be voluntary and up to the discretion of each 87 resident. Hunter Ford is taking the lead on this task and will evaluate the most effective way to contact all residents and to make participation in this project as simple as possible for 870 residents.

Exterior Window Washing

The Board is planning to authorize a contractor to perform exterior window washing of the entire 870 Inman complex. The Board will authorize work to commence following pollen season, sometime around the end of May or early June, 2010. Kristy Cowell has obtained a quote from Coast & Valley for $1,499. The Board resolved to continue pursuing price quotes from additional contractors and to complete this task via email.

Landscaping

The Board discussed a quote from Piedmont Landscaping to perform spring/summer landscaping services around the 870 Inman complex. Piedmont Landscaping has quoted $5,917.50 for this work. 870 Inman has an annual landscaping budget of $8,380. According to her experience, Kristy Cowell suggested that this price was reasonable for the scope of the work to be performed. However, the Board is concerned about spending such a significant portion of the budget on this seasonal service. There is supposed to be an on-site meeting with Piedmont Landscaping set next week. At this time, one or more Board representatives will be present to get more information on the scope of work and to discuss less-expensive alternatives.

AT&T U-Verse

Since the last meeting, AT&T has informed the Board that AT&T has no current plans to extend the U-Verse infrastructure to 870 Inman. However, the Board is still working with AT&T to determine whether AT&T can be persuaded to consider placing the U-Verse infrastructure at 870 Inman. Hunter Ford has spoken with an AT&T contact regarding this, and he has been told that it may take several weeks for AT&T to respond.

Capital Reserve Investment

870 Inman currently has an approximate $52,000 capital reserve, which at this time is more than the previously forecasted amount. The capital reserve is currently being invested at a very conservative rate, and the Board will be researching and considering alternative investment options that will yield a higher rate of return while minimizing risk and maintaining sufficient liquidity if the need arises to immediately spend any portion of the capital reserve.

Board Access to 870 Inman Bank Accounts

Presently, the 870 Board does not have access to any of the accounts in which 870 Inman funds are being held. As control over 870 Inman continues to shift from the developer, IP Lofts, to the Board, the Board will need to be able to access these funds to conduct affairs, including paying the debts and obligations of the community. In addition, if an emergency arises that requires immediate access to funds, the Board currently has no way of accessing those funds. The Board resolved to continue working with IP Lofts and Kristy Cowell to ensure that the Board has appropriate access to the funds of the 870 Inman community.

Shower Repairs

Shower repairs throughout the complex have been underway over approximately the past month and will continue throughout the spring and into the summer. As of this time, at least two Board members (Brandon Burke and Brad Davis) have each had a shower repaired in their respective units. These repairs have been satisfactory. At this time, the Board is unaware of any repair being deficient or otherwise unsatisfactory but will continue to monitor the situation to ensure that all showers in every unit are repaired appropriately and as efficiently as possible under the circumstances.

Adjournment

Meeting adjourned at approximately 8:23 p.m., with the next meeting to occur two months later or at such time as the Board deems necessary in accordance with the by-laws.