Meeting Minutes - Nov. 3, 2003

Date/Time: Monday, November 3, 2003 @ 6:00 p.m.

Location: 730 Harrison Street – Fifth Floor Conference Room

San Francisco, California

Attendees: Peter Hartman, President

Jim Bourgart, Vice President

Neil Rains, Secretary

Ellen Kiyomizu, Treasurer

Michael Alfaro, Property Manager

Robin A. Romo, Asst. Property Manager

I. HOMEOWNER ISSUES & VIOLATION HEARINGS:

There were no homeowner violation hearings discussed at the the Board meeting.

The following homeowners’ concerns were discussed at the Board meeting:

a. Two homeowners in attendance of the meeting raised concerns about the relationship between Titan Management Group, the property management group, and Aztech Development, the subsidiary maintenance company of Titan Management. The Board of Directors responded to the questions by informing the homeowners that a letter addressing the concerns expressed by the two residents would be mailed out subsequent to the meeting.

II. APPROVAL OF MINUTES:

7.30.2a A motion was made, seconded, and carried to approve the September 30, 2003, meeting minutes with changes.

III. FINANCIAL REVIEW ITEMS:

7.30.3a Management reviewed the Association’s September financial reports with the directors in attendance of the meeting. Management reviewed the delinquency report with the Board. Management reported that there were three delinquent homeowners. Two homeowners are already in collection status. The third homeowner is due to close escrow in ten days and all delinquent assessments will be paid at that time.

7.30.3b Management provided the Board with a copy of a balance sheet reflecting all unpaid invoices and current cash position.

7.30.3c Management reviewed the draft 2004 budget with the Board of Directors. The draft budget called for a 3% increase in homeowners’ assessments. After reviewing the individual line items, the Board agreed to postpone approval of the said budget.

IV. MANAGEMENT REPORT:

7.30.4a Management reported on the following matters:

a. Action Matrix - The Board of Directors reviewed various items on management’s building maintenance report. The report itemizes the completed maintenance items in the building. The Board of Directors asked Management to make the following corrections:

�� Change the title to read, “CURRENT—Month/Year”

�� Change column heading to “Description of Pending Maintenance”

�� Change column heading to “Description of Completed Maintenance”

Management was also asked to add several items for next month’s matrix.

V. COMMITTEE REPORTS:

7.30.5a Governing Document Revision Committee (GDRC) – The representative of the GDRC informed the Board of Directors that a meeting has been scheduled for November 11, 2003. At that meeting, they planned to review Article Four of the CC&Rs—the section that addresses the Association’s maintenance and assessment policies. The GDRC is also working on a fine structure for violations. The representative further informed the Board of Directors that they will seek further clarification of the pet policy.

7.30.5b Architectural Review Committee (ARC) – No report at this time. A representative of the ARC informed the Board of Directors that a meeting was scheduled for later this month.

7.30.5c Garage Purchase Committee (GPC) – Management informed the Board that Garlock and Company are in contract to sell the commercial parcels. They are also in negotiations with the same buyer to sell the garage parcel. The Board of Directors asked to have a meeting arranged with the new owners & managers once the sale is final to discuss various items that may affect the Association.

7.30.5d Technology Committee – A representative sent a report to inform the Board of Directors that they had received all the necessary information for the website from the homeowners’ association. They are currently updating the site and should have it up and running before the next board meeting.

VI. OLD BUSINESS ITEMS:

7.30.6a Policy Variance For Persons with Disabilities – The Board reviewed correspondence regarding a homeowner’s request for a policy variance

VII. NEW BUSINESS

7.30.7a None

VIII. ADJOURNMENT

The meeting adjourned at 8:24p.m. The next regular Board meeting is scheduled for Tuesday, January 27, 2004 @ 6:00 p.m. at 730 Harrison Street, Fifth Floor conference room. Michael Alfaro, Museum Parc General Manager, respectfully submits these meeting minutes.

AGREED AND APPROVED

By: _________________________________________ Date:______________________________

Board Secretary - Neil Rains

Museum Parc Residential Owners’ Association