Board Minutes 2004-10-14

West Campus Point Homeowners Association Minutes of the Board of Directors Meeting October 14, 2004 1. Call to Order at 7:05 p.m. at Eric Dahl’s home, #964. Present were:

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Board members: Betsy Brenner, Bruce Kendall, and Eric Dahl

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Property Manager: Connie Burns.

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Homeowner: Fiona Goodchild

2. Minutes and Agenda 2.1. Prior Meeting Minutes. The minutes of the Board meeting on September 14,

2004, were reviewed and approved. 2.2. Changes to the Agenda. The Agenda was reviewed and approved without

changes. 3. Members Forum 3.1. Satellite dish. The Board received a request to install satellite dish. •

Kendall pointed out that the Homeowners Association is responsible for maintaining the leak-proof exterior of all units.

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Burns recommended that we require either that the dish be installed without causing any intrusion into the roof or wall or that the homeowner sign a “Notice of Modification and Obligation to Maintain.” The Board accepted this recommendation. Burns will contact the homeowner.

3.2. Pool area gate re-keying. Goodchild recommended that we re-key the gates

to the pool area. •

She met at least three groups of students from Francisco Torres in the pool area over the summer.

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Burns says we should also install a “panic bar” on the inside of the gates that will enable people to get out without a key. She explained that they are designed to be operable only from the inside of the gate.

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The Board authorized Burns to get a bid from a locksmith to change the lock, install a panic bar, tighten the spring, and ease the latch closing on each gate. The Board pre-approved the expense as long as it does not exceed $600. Burns will get a quote and e-mail it to the Board for approval.

3.3. Leak mitigation. Goodchild recommended that we create a committee to

oversee the resolution of the leak mitigation issue. •

Kendall explained that all the members of the CC&R committee recommend that The Homeowners Association adopt the position that the University should pay for the repairs. He has communicated this feedback to George Page 1 of 3

WCP HOA Board Meeting Minutes

October 14, 2004

Pernsteiner. Pernsteiner is currently discussing the issue with various people at UCSB. 4. Insurance. The Board responded to an insurance quote from Paul Schlefen.

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Our current insurance policy sets the replacement value at $100/ft2, has an annual premium of $35,850, and includes a deductible of $1,000. The replacement value is supplemented with a “safeguard” that increases the effective replacement value to $125. Burns reported that most other homeowners associations have policies with a replacement value (including the safeguard) of $165 - $200/ft2.

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The Board believes that the replacement value in our policy for the coming year should be raised so it is more in line with the anticipated actual replacement costs for our property. (Replacement cost estimates vary widely, but $125/ft2 is undoubtedly too low .)

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The quote from Schlefen included twelve different options, with premiums ranging from $44,250 to $64,800. The options varied in (a) replacement value and (b) size of the deductible. After reviewing all the options, the Board decided to increase the replacement value to $120/ft2 ($150/ft2 with the safeguard) and keep the deductible at $1,000. The premium for this policy is $48,600, an increase of $12,750. This is equivalent to an increase of $16.35 per month per unit.

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Burns reported that the homeowners association for Winchester Commons recently changed to a “self-insurance” plan, in which each homeowner is responsible for insuring his or her own unit), because the overall cost was significantly less. Burns will provide us with more information so we can consider this option for the following year

5. Reports 5.1. Financial Reports were reviewed and approved without comment. 5.2. Landscape •

The Architectural Review Board wants us to obtain a report from an arborist before authorizing the removal and replacement of any trees.

5.3. Maintenance •

Parking signs have been delivered and will be installed. The location for the parking sign at the entrance to our property still needs to be determined.

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Gateway tiles. Burns will get a quote for replacing damaged gateway tiles from Doug Watt before the next Board meeting.

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Solar heating. Mac Solar will perform its usual inspection sweep in November.

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Document Revisions. We have received 41 ballots on the Domestic Partner Amendment: 40 for and 1 against. This means that the amendment passed. A complete recorded copy will be sent to each homeowner, probably with the December letter.

6. Old Business

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WCP HOA Board Meeting Minutes

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7. New Business. No new business was discussed. 8. Next Meeting. The next meeting will be at 7:00 pm on Wednesday November 3, at

the home of Bruce Kendall, Unit # 946. The Annual Meeting will at 2:00 pm on be Sunday, December 5, at the Cliff house. 9. Adjournment. The meeting adjourned at 9:24 p.m.

These minutes presented in draft until approved at the next Board meeting

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