January 2015

MINUTES OF A MEETING

OF

THE BOARD OF DIRECTORS

OF

BROOKRIDGE HOMEOWNERS ASSOCIATION, INC.

A meeting of the Board of Directors of Brookridge Homeowners Association, Inc. (the “HOA”) was held on January 14, 2015, at the home of Paul Spindel. Present at the meeting were: Ted Waksman, Paul Spindel, Carole Princer Levy, Barbara Schiff, and Monica Teuscher , all of whom are Directors, constituting a quorum. Also present was Tom Pallman of Stillman Management, Inc.

Ted Waksman acted as Chair of the meeting; Carole Princer Levy acted as Secretary.

Call to order at 7:00 p.m.

Minutes of the prior meeting have been approved and posted.

Paul Spindel, Treasurer, reported that we ended the year $18,102 over budget, of which approximately $10,000 was for tree maintenance work done in 2013, but paid in 2014. He reported the following balances:

Operating Account- $ 4,029.72 as of December 30, 2014;

Reserve Account - $220,072.42 as of December 30, 2014.

The Board discussed the 2015 budget. In 2015, we will have two Reserve Account expenditures: painting the tennis court for approximately $8,000 and installing new sprinklers and plantings for approximately $30,000. The legal costs will be less in 2015 due to the Sheriff’s sale of Unit #16. The Board unanimously approved the 2015 budget which is attached hereto.

The Board discussed Homeowners who are in arrears on their maintenance payments A number of Homeowners neglected to pay the $10 increase the monthly maintenance as of the January payment. A letter will be sent reminding those Homeowners of the $10 increase and the extra charge will be added to their February invoice.

A Sheriff’s sale of Unit #16 is scheduled for February 5, 2015. The Board has decided to not purchase the unit. The Board took into consideration the comments of Homeowners regarding their views on the purchase. The Board has spoken to others concerning their possible purchase of the unit. If anyone knows of persons interested in buying the unit at the Sheriff’s sale, please let the Board know. Paul will attend the sale along with our attorney, Brandon Sall.

The circles have been cleaned out, bushes removed, and some trees replanted in the Community. New bushes will be planted in the spring after the installation of additional sprinklers.

There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 7:55 pm.

Respectfully submitted,

Carole Princer Levy, Secretary

The next Board meeting will be held February 11, 2015, at the home of Barbara Schiff, Unit #8 at 7:00 pm.