MARCH 29, 2009 BOARD MEETING SUMMARY PRESIDENT"S REPORT Daniel Tighe reported that the pipe re-lining project is on schedule. ‘The Board is meeting with Moisture Technology on Monday (o review their report on the roof’ and repair recommendations. ‘the Board will then choose one of the three roofing contractor's bids that have been received and authorize the work. The Board will then choose a course of action recommended by Moisture Technology to repair or replace the leaking roofs. A preliminary report on the condition of the parking garage was received from structural engineers Walter P. Moore, The Board has requested a proposal for addition services to perform engineering evaluation testing on the Tth floor garage ramp and the brick veneer. FINANCE COMMITTEE For the month ending February 28, 2009 the balance in the Operating Account was $84,874.01 and the balance in the Capital Improvements Fund Account was $513.110.67, There was a year end deficit of $16,362.33 due mainly to a spike in natural gas prices last year. AMI advised that the collection process for delinquent aecounts receivable is moving forward, GENERAL MANAGER’S REPORT Construction Update - OF 77 units damaged in Pare IV, 53 are completed, 2 are using their own contractor, 15 are waiting to start, and 7 have sheetrock and paint completed, with flooring replacement in various stages. Of the 72 damaged units in Pare V, 39 are completed, 3 ure using their own contractor, 16 are waiting (o start, and 14 units are in process. Life/Safety Inspe -1 Fire Equipment conducted their annual inspections and found that the fire hoses and fire extinguishers are functioning properly. Fire Safety Plan - The fire marshal has approved the revised fire safety plan, Copies must be signed for and are available in both management offices. For Residents who have not picked up their copy by April 15th, the management office will with prior notice, designate an evening when Rosa Hemandez and Frank Cario will visit their units to deliver the plans ‘Tax Appraisals - are normally determined as of January 1" of each year. Since none of the taxing jurisdictions in Hartis County authorized a “disaster reappraisal” 2008 taxes were calculated on the January 1, 2008 value, even ifan Owner had damage from Hurricane Ike. Ifa home still had unrepaired damage on January 1, 2009 the appraisal would take that into account as long as HCAD was informed of the damage. Owners who qualify should file a report of Decreased Value with HCAD. The deadline for filing a report is April 15, 2009, MANAGING AGENT’S REPORT AMI mailed reminder letters for the pipe re-lining, assessment to all Owners advising them that the fi installment is due April 30th, Owners who have not paid their insurance deductible assessment have been contacted. WINDOW/DOOR REPLACEMENT ‘A meeting is scheduled for April 2nd to reconcile discrepancies in the window bids. The bid from Signature Glass was deemed too high by the insurance company and they obtained a bid that was nificantly lower; however it does not meet the Pares window specilications. Jose Fernandez, chairman of the Window & Door Committee will attend along with Basic Builders, Signature Glass, and the Pares window consultant, Peter Muller. SCHEDULING OF NEXT BOARD MEETING The next Board Meeting is scheduled for April 30, 2009 at 6:00 p.m. in the Pare IV Gi jden Room.