Matthew Barker General Manager Marriott s Shadow Ridge

Transcription

1 June 19, 2017 Dear Marriott s Shadow Ridge Owner: These minutes are being distributed to Owners as outlined in the Shadow Ridge Master Association, Declaration Article III and Bylaws, Article 6; the Shadow Ridge Condominium Association Bylaws, Article 6 and the Shadow Ridge Timeshare Association Declaration Article IV and Bylaws, Article 6. Please also consider opting-in to receive mailings required by the Association s governing documents or applicable law via electronic transmission through an address. Examples of required mailings may include: notices of meetings, financial statements, budgets and amendments to the governing documents. In order to receive these items by electronic transmission, Owners must first explicitly provide consent (or opt-in ). Consent to receive required mailings by electronic transmission is effective unless it is revoked at a later time. To opt-in, log into your Owner account on Click on My Account. Click on Review/Update Owner Information. Click on Communication Settings. Click on Edit Settings. For questions, please contact my Executive Assistant, Rhett Clements, by telephone at or by at Rhett.clements@vacationclub.com. Sincerely, Matthew Barker General Manager Marriott s Shadow Ridge

2 Shadow Ridge Master Association Shadow Ridge Condominium Association Shadow Ridge Timeshare Association Board of Directors Meeting May 2, 2017 A regular meeting of Shadow Ridge Master Association, Shadow Ridge Condominium Association and Shadow Ridge Timeshare Association Boards of Directors was held concurrently on May 2, 2017, via conference call, hosted from Marriott s Shadow Ridge, 9003 Shadow Ridge Road, Palm Desert, California Present from the Boards of Directors of each Association were: Richard Hayward, President; Diane Howard, Vice President; Ron Essig, Secretary; Charles Baron, Treasurer and Allen McLean, Director Present from Marriott Vacation Club International, representing the Management Company, were: Matt Barker, General Manager; Jim Zeltner, Resort Manager; Nick Enders, Director of Finance; Barry Witt, Director of Engineering; Yvonne Bell-Tumblin, Project Manager; Jay Johansen, Senior Assistant Controller; Jane Berg, Regional Vice President West; Scott Wilkerson, Area Director of Finance West and Rhett Clements, Executive Assistant, acting as Recording Secretary Guest present was: Amy Johnson, PricewaterhouseCoopers CALL TO ORDER Richard Hayward, President of the Associations, called the meetings of Shadow Ridge Master Association, Shadow Ridge Condominium Association and Shadow Ridge Timeshare Association to order at 9:01 a.m., Pacific time. Davis-Stirling Act Section 4900, et. seq. Mr. Hayward reminded those present of the Davis-Stirling Act Section 4900, et. seq. Approval to run meetings concurrently A motion was made by Diane Howard to conduct the meetings of Shadow Ridge Master Association, Shadow Ridge Condominium Association and Shadow Ridge Timeshare Association Board Meetings concurrently. The motion was seconded by Ron Essig and unanimously carried. ESTABLISHMENT OF QUORUM Mr. Hayward announced with all Board Members present, quorum was met for each Association. APPOINTMENT OF RECORDING SECRETARY Mr. Hayward appointed Rhett Clements to serve as Recording Secretary. PROOF OF NOTICE OF BOARD OF DIRECTORS MEETING Notice of Board of Directors Meeting was ed to all Board Members on March 6, 2017 as required by each Association s Bylaws. APPROVAL OF AGENDA A motion was made by Diane Howard to approve the Agenda as presented. The motion was seconded by Ron Essig and unanimously carried. APPROVAL OF PREVIOUS BOARD OF DIRECTORS MEETING MINUTES A motion was made by Diane Howard to approve the February 10, 2017 Shadow Ridge Master Association, Shadow Ridge Condominium Association and Shadow Ridge Timeshare Association Special Boards of Directors Meeting Minutes as presented. The motion was seconded by Allen McLean and unanimously carried.

3 2016 AUDITED FINANCIALS Amy Johnson presented the 2016 Audited Financials. Charles Baron accepted the 2016 Audited Financials for Shadow Ridge Master Association, Shadow Ridge Condominium Association and Shadow Ridge Timeshare Association on April 20, FINANCIAL REPORT 2017 Year-to-Date Financials Nick Enders presented the 2017 Year-to-Date Financials, as of March 21, Highlights included: Shadow Ridge Master Association year-to-date Operating Fund Surplus was $55. Shadow Ridge Condominium Association year-to-date Operating Fund Surplus was $45,048. Shadow Ridge Timeshare Association year-to-date Operating Fund Surplus was $95,633. Mr. Enders reviewed the year-to-date Accounts Receivables. The unpaid maintenance fees were 4.9%, compared to 5.9% in Scott Wilkerson discussed the foreclosed inventory repurchase agreement between Shadow Ridge Timeshare Association and Marriott Ownership Resorts, Inc. (MORI). The 2018 agreement is under evaluation by MORI and information will be presented at the November 2, 2017 Board Meeting. RESERVE PROJECTS 2017 Master Association Reserves Yvonne Bell-Tumblin stated there are no 2017 Master Association Reserve projects scheduled Master Association Reserves Ms. Bell-Tumblin reviewed the proposed 2018 Master Association Reserve project. Highlights included: Replace main entrance monument signs 2017 Condominium Association Reserves Ms. Bell-Tumblin reviewed the 2017 Condominium Association Reserve projects. Highlights included: Refurbish LED tennis court lights in progress Install new light fixtures at Central Facilities Building, Mirage Center, Chuckwalla and Snakebites pools - in progress Paint buildings, common areas and carports in progress Install new Snakebites fire pit in progress Snakebites pool heater was replaced Refurbish Operations office and breakroom in progress Re-coat building roofs in progress Re-plaster Chuckwalla Family and Lounge pools and spas in progress Chuckwalla pool slide was re-plastered Re-plaster Snakebites pool in progress Install Operations Building golf cart shade structure in progress Replace common area door locks in progress Refurbish Front Office and Central Facilities Building in progress Ms. Bell-Tumblin recommended Shadow Ridge Condominium Association Board approve additional expenditures: re-plaster Chuckwalla and Snakebites pools and spas in the amount of $80,000, install golf cart shade structure at the Operations Building in the amount of $119,250 and upgrade common area door locks in the amount of $16,000, for a total of $215,250. The additional expenditures will be added to the previously approved 2017 Shadow Ridge Condominium Association Reserve Funds for a total of $511,010. A motion was made by Allen McLean to approve the additional Reserve Expenditures to re-plaster Chuckwalla and Snakebites pools and spas in the amount of $80,000; install golf cart shade structure at the Operations Building in the amount of $119,250 and upgrade common area door locks in the amount of $16,000, for a total of $215,250. The additional expenditures will be added to the previously approved 2017 Shadow Ridge Condominium Association Reserve Funds for a total of $511,010. The motion was seconded by Ron Essig and unanimously carried.

4 Richard Hayward led a discussion regarding Shadow Ridge Condominium Association Reserve cash flow Condominium Association Reserves Ms. Bell-Tumblin reviewed the proposed 2018 Condominium Association Reserve projects. Highlights included: Replace Villages pool and spa equipment Replace Phase 2 fire alarm system Re-plaster Roadrunner pool and spa Replace Mirage Activities Center soft goods 2017 Timeshare Association Reserves Mrs. Bell-Tumblin presented 2017 Timeshare Association Reserve projects. Highlights included: Phase 6 and 7 Housekeeping vacuum cleaners were purchased Purchase Housekeeping passenger van Refurbish Phases 1, 2, and 6 Purchase Housekeeping laundry bins Ms. Bell-Tumblin recommended Shadow Ridge Timeshare Association Board approve $36,955 for the purchase of housekeeping laundry bins. A motion was made by Diane Howard to approve the purchase of housekeeping laundry bins in the amount of $36,955 from 2017 Shadow Ridge Timeshare Association Reserves. The motion was seconded by Charles Baron and unanimously carried Timeshare Association Reserves Ms. Bell-Tumblin reviewed the proposed 2018 Timeshare Association Reserve projects. Highlights included: Refurbish Phases 3, 7, and 8 Part 1 Replace Phase 7 televisions Replace Loss Prevention truck RESORT OPERATIONS REPORT Jim Zeltner presented the Resort Operations Report. Highlights included: Overall Guest Satisfaction increased by 2.8%, compared to 2016 Everything in Working Order increased by 1%, compared to 2016 Villas Cleanliness increased by 1%, compared to 2016 Service Index increased by 1.2%, compared to 2016 Problem Resolution increased by 4.1%, compared to 2016 Activities and Fitness programs were reviewed clubthrive was reviewed 2017 recognitions were reviewed The resort team raised $44,000 for Children s Miracle Network NEW BUSINESS Bylaw Amendment Review Mr. Barker updated the Boards regarding the Bylaw Amendment stating: The Limited Proxy for the 2016 Annual Meeting includes a vote to amend the Bylaws to permit proxies to be transmitted by electronic means and to permit transmitting notices and other documents and information by electronic means. The proposed amendments did not pass. The governing documents, for all Associations, do not prohibit transmitting proxies electronically or the transmittal of notices and other documents and information by electronic means. However, state statute prohibits electronic transmission of proxies. Management cannot facilitate electronic voting until the law changes in favor of electronic voting or electronic transmittal. If the law changes, the Management Company will request the Boards provide formal direction as

5 to how to proceed with the distribution of proxies, notices and other documents since the proposed amendment did not pass. The Boards always have the option to seek guidance from Association counsel. Nominating Committee The Nominating Committee, for all Associations, will meet to review and select volunteers to be placed on the 2017 Limited Proxy. Mr. Barker will contact Mr. Hayward, Diane Howard and Allen McLean to determine the Nominating Committee Meeting date. Announcement of Next Board of Directors Meeting Dates Board and Annual Meetings November 2, 2017 Board Meeting May 10, 2018 Board and Annual Meetings October 30, 2018 ADJOURNMENT There being no further business to come before the Board, a motion was made by Diane Howard to adjourn the meeting at 11:00 a.m. The motion was seconded by Ron Essig and unanimously carried. Submitted by: Approved by: Rhett Clements Date Richard Hayward Date Recording Secretary President Shadow Ridge Master Association Shadow Ridge Condominium Association Shadow Ridge Timeshare Association These minutes are subject to approval at the next Board of Directors Meeting