Bob Brooks call to order 7:11p.m.

In attendance: Buck Reese, Kim Clark, Rhee Nelson, Bob Brooks, Anthony Simmons, Gerald Oliver, Scott Wauters, Kris Milstead – Herman Mgmt, Gina Eagan, Secretary

The October 2007 meeting minutes were approved by motion from Gerald Oliver and second by Kim Clark.

Reports by board members:

a. Rhee Nelson gave a summary of community committees’ duties and responsibilities

- ARC – special thanks to Eric Smith, new chair for 2008 is Todd Carte

- Landscape – Ted Cisine - chair

- Long Range Planning subcommittee of Landscape committee – Jim Radlein - chair

- Social – special thanks to former chair Sherise Smith, new chair Janita Linker

- Garden club – formed in April 2007, Pam McVicker chair

- Pool – Scott Wauters - chair

- Swim team – Mia Whitley - chair

- Newsletter – Jennifer Beresh - editor

b. Bob Brooks summarized the review of the 2006 association records and action taken by the board, which are documented in previous meeting minutes.

c. Financial report by Buck Reese

- Total liquid assets of $148,023.63

- Liabilities of $9,827.41

- Total equity of $148,023.63

Questions were taken from the attendees regarding the budget review.

Q: Why is the association keeping the swim team account?

A: LP HOA is keeping this account as a courtesy to the team. The swim team raised the funds. The association did not provide them.

Q: Are funds being put aside for maintenance items such as roof replacement on the clubhouse?

A: Yes, $50,000 is being reserved for these kinds of expenses.

Q: Why are current expenditures $29,000 over budget?

A: Most of the $29,000 was spent on pool equipment.

Q: What contributed to the pool equipment?

A: Resurfacing of the old pool, one new ladder, repair of a ladder, baby-changing stations installed, pool cover for old pool, and restrooms were painted.

Q: What has been done to fix the sidewalk stains?

A: A contractor was chosen that had an environmentally friendly approach and solution. The mixture did not remove as much stain as desired, so other options are being explored at this time; however cleaning was the first step. Other possible solutions were to drill the well deeper, filter the existing water and use stronger cleaners.

A resident noted that another option could be to install brick sidewalks since the stains are due to rust in the well.

A resident suggested that money not be spent on cleaning the sidewalks

Q: why is the main entrance being watered so frequently?

A: The main entrance is being watered twice a week at 20 minutes per zone. The front entrance was seeded and it needed to be watered to germinate. It was also noted that Niblock is responsible for watering in the back entrances. The landscape committee has requested Niblock not to water, but they have not responded.

d. Kim Clark summarized election process

There are three board positions available. Two of the seats are for 3-year terms. One seat is for a 2-year term, to replace the President of the Board, Bob Brooks, who is resigning. The two candidates with the highest vote counts will serve the 3-year terms; the 3^rd highest will serve the 2-year term.

Candidates took questions from residents.

Q: How long have you lived in Concord and have you attended the Concord 101 program offered by the City?

Anthony - has lived in LP for three years, has not taken class

Harriet – has lived in LP for 3.5 years, has not taken class

Todd – live in LP for 5 years, has not taken class

Wesley – lived in LP for 4.5 yrs, has not taken class

Q: Do your current job responsibilities allow you time to attend regular meetings?

Harriet – is retired and is available for all meetings

Todd – can attend as long as the meetings are regularly scheduled

Anthony – works in South Charlotte and has had to miss a few meetings

Wesley – can attend

Q: What is the biggest challenge for the board and what can be done to consider that challenge?

Anthony - keeping property values up and addressing current neighborhood issues

Harriet – spend money responsibly while pleasing diverse neighborhood residents

Todd – agreed with responsibly spending money and meeting diverse residents’ needs

Wesley – working together as community

The proposed budget for 2008 is $266,280.00, but total income is expected to be $260,340.00. The treasurer strived to allow each committee the amount they requested for their respective committee and also not increase any fees or dues. However, $32,000.00 was removed from original committee submissions for funding.

Additional questions regarding the budget were taken.

Q. How much will lighting cost?

A. Approx $15,000.00.

Q. Was pool deck lighting already vetoed via the community survey a few months ago?

A. There was a questionnaire sent to residents, but it was not a budget item. 445 questionnaires were sent out, but less than 200 returned. The pool committee asked for the deck lighting so it was included in the 2008 budget.

Various people had comments on the pros and cons of the budget. Several did not like the unbalanced budget, but several felt it made sense due to the association’s money in CDs.

Motion made to direct the board of directors to mail out a ballot to approve the budget.

However, it was noted that the by-laws state the budget should be voted upon during the annual meeting.

Q. Can Social committee ask for more money if they need it in the future?

A. Yes, they can.

Comment that it is irresponsible to not budget in now what they are looking for.

Jim Radlein and the long range planning committee offered to defer some expenses in their plan to make the budget balance.

Ballots were totaled and the candidates elected were Harriet Pinion and Todd Carte who will serve three-year terms, and Anthony Simmons who will serve a two-year term.

No nominations were noted from attendees.

Meeting adjourned at 9:03p.m.