December 1, 2003

Meeting Time

December 1 - 7:00 p.m. at Rezas Restaurant

Board Members

Bruce Howard (BH)
Brian Madurzak (BM)
Ken Sherman (KS)
Debra Siena (DS)

Building Group Representative

Jim Stoller (JS)

NOTES / ACTION ITEMS

1. Approval of Minutes

1.1. Minutes of October 27th meeting approved by board

2. Financials (BH)

2.1. BH presented the 2004 budget. All attendees received a copy.

2.2. The floor was opened to the residents and the board addressed questions regarding the 2004 budget.

2.3. The RNC Board approved the 2004 budget.

2.4. BH moved that we:

    • Obtain a loan from Harris Bank in an amount not to exceed $100,000 to fund the immediately needed brickwork repairs. The terms of this loan are as set forth in the Harris proposal dated December 1, 2003.
    • Proceed with the immediately needed brickwork repairs as rapidly as possible considering the need for permits, specifications and contracts.

2.5. The RNC Board approved the loan to address the immediately needed brickwork repair.

3. Old Business

3.1. DS gave an update on our discussions with Enterprise Development regarding brick repair.

3.2. KS gave an update on the building façade repairs.

    • Working with an engineer to define the scope of the project.
    • Working in conjunction with JS to obtain building permits. The city currently has a moratorium on building permits in shopping areas. Our neighborhood is apparently considered a shopping area.

4. RNC Board Elections

4.1. JS lead the elections.

4.1.1. Two of the five board positions were up for vote.

4.1.2. Six candidates ran for election. The candidates were:

    • Ken Sherman
    • Adam Sandler (not present)
    • Nicholas E Tarant (not present)
    • Craig Halverson
    • David Desser
    • Eric Dick

4.1.3. Each of the candidates, that were present, gave a brief speech. BH read a pre-written speech on behalf of Adam Sandler and DS read a pre-written speech on behalf of Nicholas E Tarant.

4.1.4. The votes were collected and tallied by the Building Group. Ken Sherman and David Desser were voted in for 2-year terms to the RNC Board of Directors.

5. The meeting was adjourned at 8:20