Chesterfield Homeowners Association, Inc.
Board of Directors Meeting
March 10, 2005

Meeting Location: Messenger Public Library, North Aurora, IL

Board Members Present:
Mark Bozik, President
Elizabeth Klages, Vice President
Michael Savini, Treasurer
Cate Sullivan, Secretary

Board Members Absent:
Kevin Fatten, Vice President

Call to Order:
Quorum established, the meeting of the Chesterfield Homeowners Association was called to order by President Mark Bozik at 7:09 pm.

Approval of the Minutes
Minutes of the January 20th, 2005 meeting were distributed and reviewed by the Board. A correction on the January minutes regarding the Treasurer's name was noted. Mark Bozik read the January and February 2005 minutes out loud as a courtesy to those homeowners in attendance. With no further edits brought forward, Michael Savini made a motion to approve the January, 2005 and February, 2005 minutes as corrected. Motion was seconded by EJ Klages and was unanimously approved.

President's Report
With no business to report, Mark Bozik turned over the meeting to Michael Savini for the Treasurer's report.

Treasurer's Report
Michael Savini reported that the operating account balance as of January 1, 2005 was a deficit of ($8,211.46). Operating income/interest and expenses as of January 31, 2005 amounted to $1,499.11 and $2,610.75 respectively, creating a net operating deficit of ($9,323.10). Reserves were not funded during the month of January, leaving an ending Reserve Fund balance of $10,505.45 in savings.

Operating expenses worthy of note for the month of January were $1,395.00 to OAM for management fees, $735.00 for collection expenses. Utilities amounted to $91.80 for electricity and $226.86 for water service.

Mr. Savini reported that as of January 31, 2005 a total of $19,428.55 was due in outstanding assessments, due to the late mailing by OAM of the assessment statements. Mr. Savini reported that a good portion of the receivables have been received since the January financials were run. With no further items to report, Mark Bozik moved to accept the Treasurer’s report as presented and was seconded by EJ Klages. Motion was unanimously approved.

Old Business

Retention Pond Signage
Michael Savini reported that minor details were still outstanding from two bidders. Item was tabled until next scheduled Board meeting.

Management Company Bids
Cate Sullivan reported that one bid had been received from Rowell, Inc. and two other proposals were yet to be received. Item was tabled until next meeting.

Rules & Regulations
Further discussion regarding creation of an Ad Hoc Rules and Regulations committee was tabled until the next regularly scheduled meeting.

New Business

I. Late Fees
Discussion was held among the Board Members regarding the implementation of a late fee specific to delinquent assessments. After discussing reasonable increments to be assessed for delinquencies, Mr. Savini made a motion to adopt a $20.00 monthly late fee to be assessed to any outstanding assessment. EJ Klages amended the motion to account for a grace period due to late mailing, making the fee to be effective and applied to any outstanding assessment as of April 1, 2005. Cate Sullivan seconded the motion. Motion was approved unanimously.

II. Fences & Architectural Controls
Mark Bozik presented proposed language changes to Article VII, Section (l) Fences to be amended as follows. Proposed amended language is in italics:

Fences. No fencing shall be installed in the front yard of any lot. Fencing may be installed in the back yard of a Lot so long as such fencing is in compliance with applicable laws, statues, ordinances and regulations, and is made of the same type of material and is the same color of the fence installed by Declarant along Butterfield Road. Other fencing materials (i.e. vinyl, etc.) and colors can be used as long as said alternative fencing materials and colors have prior Board approval. Owners who desire to use said alternative fencing materials or colors shall submit an application along with material and/or color samples to the Board at least forty-five (45) days before construction of said fence. The Board shall not unreasonably deny said application and shall review all such applications by the standard of the best interest of the community. Neither Owner nor Association shall change or cause to be changed the fence installed by Declarant along Butterfield Road. Following Declarant’s last conveyance of any Lot, the Association may replace the fence along Butterfield Road provided any replacement of the fence along Butterfield road shall require the use of the same type of material and fencing for the full length of the fencing but such type and material may differ from that installed by Declarant.

Mr. Bozik advised that to amend the Declaration to include the revised language it will require an 80% affirmative vote of the Ownership in order to pass. Notice of the proposed amendment change must be sent via US Mail, however voting ballots could be collected door to door.

MOTION:
Mark Bozik called for a motion to approve the language as submitted by the Association's legal counsel, Mr. King. EJ Klages stated that, once approved, OAM should send the mailing out by Tuesday, 3/16/05. Mike Savini moved to approve the proposed language as submitted by Mr. King for distribution to the ownership and was seconded by Mark Bozik. The motion was passed unanimously.

III. Fence Violations

Mike Savini addressed the Board regarding the outstanding homeowners who are not compliant with the current fence guidelines and are in violation of the Association governing documents.

MOTION:
Mr. Savini moved to proceed with notice of violation and legal pursuit regarding the noncompliance fence violations. Cate Sullivan seconded the motion. Motion was unanimously approved.

Suspension of the Meeting
The meeting was suspended at 7:28 pm to allow for an open discussion from the floor from the several owners in attendance at the meeting. Questions were raised regarding creation of a community newsletter as well as reasons for the increase to assessments. Mark Bozik reviewed the wetland repair and maintenance program, which was the major reason for the financial impact to the assessments. The Board agreed to create a newsletter under the condition that volunteers delivered it door to door in an effort to avoid impact to the operating budget.

Adjournment
With no further action items pending Board review or approval, a motion to adjourn was made by Mike Savini and was seconded by EJ Klages. Motion was unanimously approved and the meeting adjourned at 8:06 pm.

Submitted by:
Cate Sullivan, Secretary
Chesterfield Homeowners Association