MINUTES OF THE SPECIAL MEETING OF THE BOARD OF DIRECTORS OF THE HILLSBORO LE BARON CONDOMINIUM HELD ON JUNE 26, 2008, AT 4:00 PM AT THE ASSOCIATION’S CLUBHOUSE

Present from the Board of Directors were Sam Bowling, President; Jack Mahony, Vice President; Fred DeJacma, Treasurer and Ken Koppenhoefer, Secretary.  John Reiser, Dick Bergman and Roman Bartkiw were absent with prior knowledge.  Present from Residential Management were Gary Palombi, Mark McKnight and Shannon Koorse. 

AFFIDAVIT OF MAILING
Sam Bowling presented the affidavit of mailing verifying that proper notification of this meeting was sent to all homeowners.

PRESIDENT’S REPORT
Sam Bowling stated that he received a notice from nine Le Baron owners who have concerns about monies collected by the Board.  He further stated that the tone of the letter seems accusatory in nature.  Sam Bowling stated that although these nine owners have not been active in any of the Board meetings, he hereby appoints them as the Review Committee.  This Committee should meet at the office of Residential Management to inspect any and all records that they deem necessary to close out any concerns they might have, and will be accompanied by Fred DeJacma.

Sam Bowling stated that over the winter, their engineer surveyed all of the doors and windows and noted that only some of the people have done upgrades, and that the majority   many of the windows are not up to code.  He also stated that the Association’s insurance company initiated this survey.  The Engineer’s report will be mailed to each unit in the near future.  Sam Bowling stated that as long as there is even one window that is not up to code, Le Baron will have to pay an extra premium on their insurance policy.

Sam Bowling stated that shortly after Hurricane Wilma, the Board of Directors passed an assessment, for which most of the money was collected.  He added that after firing the first Public Adjuster, the second Public Adjuster that was hired was able to help the Le Baron come to an agreement with the insurance company on a settlement of 1.6 million dollars. 

Sam Bowling reviewed the Restoration Final Cost Summary and the costs involved including the Wilma Cost and shortfall, which was mailed to all unit owners.

Sam Bowling reviewed all of the items that do not meet current code, which included certain areas on the promenade, roof exhaust fans, plumbing, windows, doors and electrical upgrades.

CONSIDERATION OF SPECIAL ASSESSMENT
Sam Bowling stated that he feels they must pay off the Wilma shortfall, and that rather than continuing to pay interest on the loan, the Board is in favor of an assessment.  Fred DeJacma stated that even if they pay off the shortfall they still have items that have to meet code.  He added that he would like to combine the Restoration and Wilma shortfall of funds with the items that need to be brought up to code into one assessment.  Ken Koppenhoefer agreed that this is the way to go.  Sam Bowling stated that the Board of Directors is obligated to ensure that all aspects of the Le Baron Condominium are up to code.  Jack Mahony motioned to approve the assessment as presented, contingent upon the legal opinion of the Association’s attorney; seconded by Ken Koppenhoefer.  All in favor.  Motion carried. 

ACKNOWLEDGEMENT
Sam Bowling stated that the Board would like to acknowledge the passing of Jack Conroy, and extend their sincerest condolences to Louise.  Jack was a past President and Board member for many years, and contributed many hours of service to Hillsboro Le Baron.

Sam Bowling stated that the Board would also like to acknowledge the passing of Pat Collins, and extend their condolences to John and his family.  Pat was an active member of the community and was instrumental in may projects especially the upgrading of our beautiful pool area. 

ADJOURNMENT
There being no further business before the Board of Directors, the meeting was adjourned at 4: 50 pm.