LA GRANDE PROVENCE
CONDOMINIUM ASSOCIATION, INC.
BOARD OF DIRECTORS MEETING
FEBRUARY 6, 2012
Tony Papandrea called the meeting to order at 1:05 pm.
Bob Cory, David Luenzmann and Jeanne Kiley were present, representing a quorum, as well as Karen Hopkins from Preferred Management. There were no guests.
Minutes of the June 6, 2011 meeting were approved.
Discussion of Rental Rules and Fine imposed on Unit 2601 : In accordance with the Rental Policy Rules covered in our By-Laws, and the failure of one of our owners to comply with these rules, it became necessary to convene the Compliance Committee. The Committee met with the owner and, based on their discussion, determined that he was in violation of our rental policy. The recommendation of the Committee was to impose a $1 ,000 fine payable by April15, 2012. After careful review, the Board considers this matter closed and handled in the best interest of all owners.
A review of the GAP program’s progress will take place in mid March.
Preferred Management SeNices is in the process of providing us with an update on our current financial’s.
The Board agreed to reposition funds, currently with Allstate, to First Southern for a 36 month duration.
There being no further business to discuss, the meeting adjourned at 1 :45 pm.
Jeanne Kiley, Secretary