The meeting was brought to order at 7:30 PM, on 25 March 2004. Matt Flanigan, President, presided. A quorum of homeowners was present / proxied.

1. Matt Flanigan, President

a. Matt called the meeting to order.

b. Matt explained the function of the Board positions, Board management processes, and the election process.

c. Matt reviewed action items for Steve Wheeler, Vice President, who was in attendance by proxy. Matt discussed:

- how the Bond Release was dragging on by Madison Homes;

- the development of a Beautification Plan for the Common Areas;

- the Summer Picnic is coming;

- the next Board meeting is 15 April 2004, at Matt's house.

d. Matt asked if there were any questions.

2. Allan Urban, Treasurer:

a. Allen described where the 2003 homeowner dues and expenditures went:

~ 62% for Trash Removal and Common Grounds Maintenance;

~ 23% for Professional Management Services, Auditing, Tax Return Preparation;

~ 11% goes into a Long Term Reserve, like to support Capital Improvement & Upkeep (common fences, signs);

- the remaining 4% was 3% for social and 1% surplus.

b. HOA Dues are not being increased for 2004 and have not been increased since the community began five years ago. Dues will need to increase in 2005 in order to maintain a balanced budget.

c. Allen asked if there were any questions.

3. Ricardo Urdaneta, ACC Chairman:

a. Ricardo explained the purpose of the ACC, how it helps to retain/improve our property values;

b. Ricardo reported that the Homeowner Improvement Request Process is working well;

c. The ACC is still conducting periodic property walkthroughs - this year's annual inspection will occur within the next 45 days;

d. Ricardo asked if there were any questions.

4. Matt opened the Floor to the Homeowners;

a. There was a discussion of a property tax increase (the HOA Board has no involvement in this area.);

b. AAA Trash Removal is making early visits; the County has given them a waiver to the 7AM start-time limitation; our homes are close to the AAA truck route starting point.

c. Something is pooping in some homeowners' yards. If its a dog, and one sees who the owner is, then the County's Animal Control folks will pay an initial visit and give a warning. Repeat offenders can expect a fine.

5. Rod Strawderman, RCS Management

a. Held the annual Board elections. Matt Flanigan and Bob Morin were re-elected and Andy MacLean was elected as an alternate and invited to attend the 15 April meeting.

6. General.

a. The next quarterly Board meeting is scheduled for 7:30 PM, 15 April 2004, at Matt Flanigan's home.

b. The meeting was adjourned at 8:30 PM.