Colonial Village II

Board Meeting Minutes

Wednesday December 19, 2007

Attendees: Mark Bostwick, President

Linda Slagle, Vice-President
Chris Cahill, Communications
Robert Somers, Secretary
Blake Surbey, Treasurer
David McPherson, Property Manager

I. Meeting Call to Order: President Mark Bostwick called meeting to order at 7:03 pm.

II. Proof of Quorum: Quorum was met by the presence of all five Board members.

III. Resident Forum

No community members were present for resident forum.

IV. Reading & Approval of Minutes: Motion by Mr. Bostwick to accept the minutes from November
14, 2007 as written (including edits by Ms. Slagle). Second by Ms. Slagle. For: all.

V. Management Report
Resident Handbook: Mr. McPherson submitted the draft of the resident handbook to the Board, he would
like them to review it and send him their comments, which he will compile and then resubmit to the
Board at the next meeting for approval. Once the handbook is completed, management would like it put
up on the website. It would also be printed in booklet form and given out to all owners; subsequent
copies for tenants would cost $5.

Insurance: Mr. McPherson reminded the Board that the association’s insurance policy expires on 1/31/08.
Management has received two bids for insurance, from State Farm (current insurer) and Allied. There is a
large disparity between the coverage and premiums in the two proposals. Mr. McPherson plans to go
back to both companies to see if they can offer more favorable prices. Mr. McPherson believes the Board
should keep the deductible at $5,000, however he would like the Board to consider increasing their
Director’s and Officers’ coverage (D&O). The Board agreed that they would like to see bids for
increased D&O coverage up to $4,000,000 (coverage is currently set at $1,000,000 per incident). Mr.
McPherson promised to get new numbers back to the Board by January 15, 2008 so a decision can be
made.

Landscaping: Mr. McPherson has received a number of bids for the 2008 landscaping contract. One
company, True Green came in at $32,000. The next lowest bids, T&J, Lancaster and Somerset all came in
at around $45,000. Before making a decision, Mr. McPherson would like the Board and the landscaping
committee to review a matrix comparing the proposed services contained in the most favorable.. A
decision should be made at the January Board Meeting and a contract signed by February 1, 2008

Financial Report: Mr. Surbey reported on the decision to give CVII’s financial manager a standing order
for 2008 to watch for good rates and reinvest our reserve funds appropriately. Ideally, an investment
should be maturing every three months; it can then reinvested at the best prevailing rates and/or be made
available for use without penalty of early withdrawal..

Action List
In order to expedite the meeting, Mr. McPherson did not report on the action list. The Board has the
progress report in their packets for review and did not have any questions.

V. Old Business
Verizon: After reviewing the marketing plan submitted by Verizon, Board Members expressed their
discomfort with it. A major objection is that the plan expects CVII to become “salespeople” for Verizon
for five years and CVII’s only compensation would be $25,000 ($100 per unit). The Board members
agreed that they are not comfortable becoming sales agents for Verizon and that the incentive is off the
table. In order for an installation agreement to move forward, the Board must receive a revised critical
path plan.

The Board is prepared to make a decision regarding the Verizon proposal, pending an engineer’s
(Didier’s) review of the revised critical path survey. If there are still unresolved issues after Didier’s
review, the Board reserves the right to defer action until they are satisfied with the proposal.

Recycling: Mr. Cahill shared the draft recycling signs with the Board. These signs have received a
positive reception and are consistent with Arlington County policy. The signs need to go on the
doorways, bins and walls of the trash rooms. This information will also be posted on the website and on
corkboards. The next step is to order stickers for the bins and have the signage made into posters. Mr.
McPherson said that management would take care of that. A Spanish language version of the sign will be
placed on the website.

Concrete proposal: The sidewalk and stair repairs will take place after the first of the year, as weather
permits.

Panel Box Replacement: Defective electrical juncture boxes will be repaired in January, all the parts have
arrived and now Management needs to set up a time with Dominion to turn off the power at the time of
repair. Dominion will most likely charge for this service.

VI. New Business

Mr. McPherson would like the Board’s approval to buy a new water heater for 1800 Key Blvd. A few
weeks ago, a line broke, flooding the boiler room serving Key Blvd.; 2 of the 3 water heaters in that
location were salvaged but the third must be replaced. The cost is $5,900.

Motion by Ms. Slagle to replace the water heater at 1800 Key Blvd, for a cost not to exceed $6,000.00.
Second: Mr. Bostwick, For: all.

There is an owner who has submitted a proposal to management to replace the windows in his unit; Mr.
McPherson has seen the schematic, but not the French panes. Before final approval, Mr. McPherson must
see them.

Motion by Ms. Slagle to approve the request for new windows, pending Mr. McPherson’s review and
approval of the windowpanes. Second by Mr. Cahill, For: all.

VII. Next Board Meeting:

The next meeting will be held on Wednesday, January 16, 2008.

VIII. Meeting Adjourned at 8:02pm

Respectfully Submitted:
Keri A. Towler
Recording Secretary
December 30, 2007

Approved: _______________________________
Robert B. Somers, Secretary

Contact Information:
For electronic copies of the minutes and/or website concerns: Chris Cahill at cahill@gwu.edu
Minutes can also be obtained from CVII’s website: www.colonialvillageII.com
Property Manager: David McPherson at dmcpherson@comsource72.com
Board President: Mark Bostwick at markin3@hotmail.com