Annual Owners Meeting Minutes - March 11th, 2010

SAMMAMISH WATERWAY CONDOMINIUM ASSOCIATION
ANNUAL OWNERS MEETING –Approved
MARCH 11, 2010
7:00 PM


AGENDA

• CALL TO ORDER – 7:00 PM Meeting called to order at 7:10pm by Erik Noyd. Board members in attendance were: Njord Folgedalen, Kent Hutchings, Tom Smith, Erik Noyd and Mary Allen
o INTRODUCTIONS
o ROLL CALL – 49 homeowners were present at roll call
o ESTABLISH A QUORUM (40%)

• PRESENT PROOF OF NOTICE OF MEETING
o NOTICE MAILED TO ALL OWNERS ON FEBRUARY 6, 2010

• APPROVAL OF PRECEDING OWNERS MEETING MINUTES – Motion to approve minutes were made by the owner of 1-206 and seconded by the owner of 2-302. Meetings were unanimously approved.
o MAY 13, 2009 ANNUAL OWNERS MEETING MINUTES

• REPORTS OF OFFICERS
o PRESIDENT’S REPORT – ACCOMPLISHMENTS IN 2009 Erik Noyd discussed the restoration project beginning with the procurement of the loan, affects of the economic climate, beginning of construction, meeting checkpoints and consultants hired. Other items included general maintained of the condo, parking regulations, and insurance changes
o TREASURER’S REPORT – YEAR 2009 SUMMARY For full report, please see the income/expenses statement for Period 12/01/09 to 12/31/09

• ELECTIONS – TWO OPENINGS
o TWO 2-YEAR TERMS EXPIRING 2012
o SELECTION OF ELECTION COMMITTEE
o NOMINATIONS Kent Hutchings nominated; Derek Moore nominated
o DISCUSSION
o VOTE Motion to approve the nominations made by owner of 4-102; motion seconded by owner of 2-302.
o RESULTS Unanimous verbal approval of the election for Kent Hutchings and Derek Moore for two the open board positions

• UNFINISHED BUSINESS – NONE

• NEW BUSINESS
o OWNER VOTE ON DECLARATION AMENDMENT TO ADD THE NON-JUDICIAL FORECLOSURE REMEDY There was not the required amount of owners in attendance to declare an outcome on the amendment. Rich Redelfs, RCA Management will consult with attorney to see if it is possible to contact owners that did not vote to complete this process

• ADJOURNMENT Meeting adjourned at 7:58pm

• OPEN HOMEOWNER’S FORUM Forum continued for approximately 1 hour with representatives from TR Eggert and Morrison Hershfield.


*** 2010 BOARD MEMBERS – Please stay for a brief Board meeting to elect officers.