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CALL TO ORDER
The meeting was called to order by Lance Parker at 5:02 pm. seven (7) owners were in attendance
ESTABLISHMENT OF
A QUORUM
There is a quorum of four (4) Board members present.
ACTION ITEM #1:
APPROVE MINUTES
John Higginson made a motion to approve the minutes from the February 25th, 2021 Board of Directors Meeting
as presented. This was seconded by Neal McCrillis. The motion passed unanimously.
TREASURER'S
REPORT
Del Cahill, Board Treasurer gave the Treasurer’s Report. As of September 30, 2021, the Association
has $73,163.70 in its operating account and $624,894.36 in its reserve account for a total of $698,058.06 for total assets
ACTION ITEM #2:
APPROVE 2022 BUDGET DRAFT
John Higginson made a motion to approve the 2022 budget draft which calls for a 9.18% increase.
The budget draft was distributed to all homeowners for their 30-day review with no comments from the homeowners.
This was seconded by Del Cahill. The motion passed unanimously
ACTION ITEM #3:
UPDATE SIGNERS OF THE HOLIDAY FUND
Neal McCrillis made a motion to approve the addition of John Higginson and Del Cahill as signers of the Holiday Fund.
This was seconded by Lance Parker. The motion passed unanimously.
ACTION ITEM #4:
APPROVE THE LOAN APPLICATION
John Higginson made a motion to approve the loan application from Wintrust Bank. Wintrust is offering us a $400,000
with a 3.50% loan rate for 7 years for the parking garage repairs. This was seconded by Neal McCrillis.
The motion passed unanimously.
MEETING
ADJOURNMENT
John
Higginson made a motion that the meeting be adjourned at 5:30 pm. This
was seconded by Del Cahill. The motion was passed unanimously.
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