LAKE FOREST PROPERTY OWNERS ASSOCIATION
STATED BOARD MEETING
May 29, 2007

In attendance were Willie Robison, Joe Mosley, Sherrie Weller, Henry Lawson, John Peterson, Marie Bidney, Clint Martin and Jim Moss.

Staff attendance was Toni Fassbender.

The meeting was called to order by President, Henry Lawson.

Minutes for Approval:

Motion to approve stated board meeting minutes 4/23/07. Motion carried.

Committee Reports:

Architectural: Henry Lawson reported that new form is in development that will provide an analysis of complaints issued and status of complaints. Complete report on file.

Building and Grounds: John Peterson reported that a listing of capitol improvements will be addressed later in the agenda. Complete report on file.

Communications: Jim Moss reported that more ad sales are needed for the newspaper. Technical difficulties have been experienced with the website but are close to being resolved with a new website host. Groundbreaking for the Lawson Road entrance sign is to start soon. Yacht club sign removed along with Sea Cliff sign. The new sign will be ready in a week and located in the exact same location.

Finance: Joe Mosley reported revenue of $234,343; expenses $187,832 yielding net revenue of $46,513. Cash on hand equals $125,799. The additional $2.50 tax escrow charges will no longer be collected. Complete financial report on file.

Food and Beverage: Sherrie Weller reported that food and wine costs were down in April at both the Yacht Club and 19th hole. Beer and Liquor were up due to hosting a large wedding. Year to date cost of goods were in excellent shape. Twelve functions were hosted in April at the Yacht and Country Club. Twelve functions were booked for May. There are 27 social memberships sold. Complete report on file.

Greens: Willie Robison reported income, labor, cost of goods and maintenance expense was over budget for the month, with maintenance labor under budget. Complete greens committee report on file.

Lake: John Peterson reported that the slide gate was inadvertently opened and could not be closed due to the debris build up. The lake was drained to clean the debris, the gate was closed and the mechanism used to open it was removed to prevent future opening and closing by non authorized individuals. A beaver dam located on the golf course has been reported to the city and will be knocked down when the beavers removed. This will restore flow from Tiawassee creek to help with low lake level.

Recreation: Clint Martin reported that tennis income was over budget for the month and year to date. Labor expenses were under budget for the month and year. Pool labor and operating expenses were also under budget for the month and year. Complete report on file.

Yacht Club and Marina: Marie Bidney reported that income, cost of goods and labor expenses were over budget for the month. Operating expenses were under budget for the month. The operational profit for the month and year are over budget. Currently at the marina, 64% of the wet slips are in use and 90% of the dry slips are rented. The Dauphin Island race was a success even without wind. 186 boats registered and 68 boats finished. Complete report on file.

**General Manager’s Report:** Toni Fassbender reported that the $87,000 from the golf carts was received. It was placed in a money market account with $63,000 from operations. Audit is under way with expectations that it will be a lengthy one due to the installation of the Jonas system. Money was saved on the approved purchase of the trencher and trailer for the golf course. Derrick was able to find a good used one saving about $4500. Sea scouts were contacted to house a training shrimp boat at the marina in exchange for keeping the waterway cleaned. The final details are being worked out but it looks promising. The 8 foot fence has been completed around swim and racquet pool so the playground will be open year round for our members. Personnel change in pool operators is being made. Compliments were given to the Garden Club members for the beautiful plantings around the Country Club. Collections from RBS for April equaled $6,727. There is currently $278,618 in collections. 33 new lien letters were filed, 4 were paid in full and 39 delinquent letters were sent.

Member Comments:
Stephanie Mintor addressed the board requesting that the Board consider removing swim membership fee. A petition was submitted to support request. She also asked that Board member Sherrie Weller be investigated for asking her to stop petitioning people at the Ridgewood pool.

Joy Peters thanked President Henry Lawson for helping a stranded mom and son by calling 911.

John Jost requested that Board consider opening pools earlier, concerns over roads especially “s” curve on Bayview and be open to alternate sources of revenue such as fines for parking in yards or selling the stables.

John Coulter discussed concerns about the losses from the architectural committee.

Lisa Gaydos discussed concerns over swim fees and lack of member notification.

Victoria Phelps made Board aware that Sam Kirby will be on vacation for two months and expressed concerns over who will be picking up signs in his absence. She also requested that the burned area leading into Country Club be cut back or cleaned up.

Old Business:

Willie Robison asked that the handbook that contains changes to the House and Ground Rules be considered versus the typed document from October at the June Board meeting. These changes along with other Committee comments should be used. A copy of the “modified” handbook to be given to General Manager. Committee chairs agreed to have their comments ready by next board meeting.

Toni Fassbender presented committee report from each piece of property. A document was also submitted regarding unbuildable lots. It was suggested that Lake Forest consider re-entering into the real estate market on a case by case basis. It is the recommendation of the committee that the property on Marc Circle be accepted with the condition that $500 be given to Lake Forest to pay taxes while selling the lot. It is the recommendation of the committee to not accept the Buena Vista lot. However, the lots on Everade Circle, Donette Loop and Aragorn Circle are acceptable to the committee and recommendations are made to purchase for the tax sale price as offered by owner. Motion to accept Unit 18, Lot 38; Unit 21, Lot 131; Unit 24, Lot 142 and Unit 24, Lot 89. Clint Martin asked that Board wait until better developed guidelines and uniform rules established for accepting and purchasing lots. Mr. Martin asked that motion be tabled until later date. Motion tabled.

Mr. Henry Lawson submitted comments from resident to General Manager. General Manager commented that only Board member call with comments and suggested that unless there are any more, the survey is ready to be printed.

During the survey discussion, Clint Martin asked that the Board consider decreasing swim membership fee to $10 to cover administrative costs. President Lawson ruled that motion could be made. Motion failed 4 to 4.

New Business:

Toni Fassbender reported to the Board that Church of the Eastern Shore has approached Lake Forest to host a block party Vacation Bible School activity, June 28 on the land next to the Ridgewood Pool. It would include inflatables and other activities but no access to the swimming pool. They have agreed to provide a hold harmless agreement if Lake Forest would agree to this. John Peterson suggested that request be turned over to Building and Grounds for rental opportunities. With the absence of a motion, the request failed.

Willie Robison was excused from meeting at 7:10 pm.

Motion to appoint committee to review scholarships. Motion carried. A scholarship committee was appointed – Joe Mosley, chairman, John Peterson and Sherrie Weller. 11 applications have been filed. 5 scholarships for $1,000 will be awarded.

Toni Fassbender commented that annual fees for junior are offered at $64 or $68. The tennis pro would like the Board to consider this to also be the annual membership also. In absence of discussion, motion failed.

Capitol Improvement list provided by John Peterson. Motion to accept list as presented. Motion passed 4-3.

Board Comments

Motion to move to Executive Session