Board Meeting Outcome - 2/7/2019

On Thursday, February 7, 2019 at 7:00 P.M. at the pool deck of the community, a Board Meeting was held to conduct lawful business of the Association. We had a quorum of the Board present with 4 Directors present and 1 Director absent.

Discussed and voted on opening an additional account with a new financial institution for the purposes of maintaining FDIC coveraege as our cash balances exceed the federal limits - PASSED

Discussed and voted on the transfer of funds from our operating account to reserve account in the amount of: $37,512 due to our audit recommendations due to funds that weren't originally transferred in prior years - PASSED

Note: All financial statements have remained accurate and this transfer doesn't impact any prior forecasts in our financial statements. This is purley a legal requirement to ensure the money is maintained in separate accounts despite the way we are managing it in our financial system.

Obtained legal opinion from Becker regarding maintenance and repairs due to rising requests from Unit Owners. Summary statement: Unit owners are responsible for the maintenance and repair of windows, doors, electrical, fixtures, etc.

Note: Please contact the Board or GRS for any specific questions regarding what this means. The Association is responsible for any roof repairs since it is related to the exterior structure of connecting units. This does not mean that there are any changes to our insurance coverages or anything previously communicated regarding an "Act of God" claim. The Association is responsible for the replacement of windows, doors, and structural repairs up to the drywall if an insurance claim is made where the root cause is related to an Act of God. All other maintenance and repair is the responsibility of the homewowner.

Discussed and voted on a 50/50 distribution of Guest spaces over a gradual period of time for the purposes of providing additional Guest parking. 6 additional spaces will be allocated on March 1 and 6 additional guest spaces will be allocated as guest on May 1. - PASSED

Note: ALL yellow marked "Guest" spaces are designated for "Guests" and not Unit Owners. Any unit owner who parks in a guest parking space will receive a violation sticker and will ultimately recieve a $100 fine for each occurance. Please read the Rules and Regulations for specifics around our parking policy to ensure you are utilizing your designated parking spaces before utilizing common area parking. Click here to be redirected to the Rules and Regulations.

CLICK HERE FOR THE OFFICIAL COMMUNICATION

Please let us know if you have any additional questions. Thank you for your continued support.

Sincerely,

VSS Board of Directors