Minutes

POINT VENTURE TOWNHOUSES, INC.

BOARD OF DIRECTOR’S MEETING

July 15, 2011

President Sonny Ables called the meeting to order at 7:00 PM on Friday, Jul 15, 2011. The meeting opened with a roll call of those present.

I. DIRECTORS PRESENT: President Sonny Ables, Directors Brent Burns, Craig Clark, Joyce Sidfrid, Charles Bailey, Marji Breslow and Charles Lantrip. Ivan Langford III was absent and gave his proxy to Craig Clark. A quorum was established.

II. APPROVAL OF MINUTES: Brent Burns motioned to approve April 16, 2011 minutes as presented. The motion was seconded by Charles Bailey. All in favor - motion approved. Craig Clark motioned to approve the special meeting minutes of June 25, 2011 as presented. The motion was seconded by Charles Lantrip. All in favor – motion approved.

III. MANAGER REPORT: Electrical repairs still in process. 93 townhouses are completed with the new color scheme and/or have painted their fascia to the new approved color.

IV. TREASURER’S REPORT: Charles Baker reported on the financials. All looked good but one account of $2400.00 – may consider small claims court. Charles Bailey motioned to approve the financials as presented. The motion was seconded by Marji Breslow. All in favor – motion approved.

V. PRESIDENT REPORT: Mr. Ables apologizes again for recent action on the 32 acre property

VI. COMMITTEE REPORTS:

A. Common/Landscape Areas – Craig Clark – No report.

B. Community Relations – Joyce Sidfrid – No report.

C. Deed Restrictions - Ivan Langford, III. (Absent) – No report.

VII. ISSUES FROM THE FLOOR – None

VIII. NEW BUSINESS:

A. Charles Bailey motioned not to assess homeowners for recovering the cost of $4,000 cleanup of the debris on the 32 acre common property. Motion was seconded by Charles Lantrip. All in favor – motion approved.

B. No action taken to consider an amendment to the budget to cover the $4,000 expenditure for the clean-up of the debris from the 32 acres.

C. Charles Lantrip motioned not to pursue legal action against A-1 Excavation. Motion was seconded by Charles Bailey. All in favor – motion approved.

D. Tabled the consideration of a 3-pipe system to ban all vehicles with the exception of golf carts with emergency/maintenance vehicles allowed with a $100.00 fine for violation to be attached.

E. Tabled to adopt formal policy restricting access to common property with attached fine.

F. Tabled to adopt formal rules for 32 acre park. A suggestion was made to form a committee to suggest rules for common property.

G. Charles Bailey motioned to pursue the consideration of the removal of dead brush/cedar trees with a state funded program. Motion was seconded by Marji Breslow. All in favor – motion approved.

H. Received 74 ballots for 2011 Board of Director’s election.

Newly elected directors are Pam Giese – 53 / Barry Pasarew – 49 / Eric Carlson – 46.

VIII. ADJOURN: The board adjourned at 8:20 PM. Motion to adjourn by Marji Breslow and seconded by Charles Bailey. All approved with unanimous vote.

Approved: October 15, 2011 Board of Director’s Meeting

Marji Breslow, Secretary

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POINT VENTURE TOWNHOUSES, INC

BOARD OF DIRECTOR’S MEETING

April 16, 2011

Vice President Ivan Langford III called the meeting to order at 9:00 AM on Saturday, April 16, 2011. The meeting opened with a roll call of those present.

I. DIRECTORS PRESENT: Vice President Ivan Langford III, Directors Brent Burns, Craig Clark, Joyce Sidfrid, Charles Bailey, Margie Breslow and Charles Lantrip. Arlene Catania was absent. Sonny Ables was absent and gave his proxy to Ivan Langford III. A quorum was established. Mr. Langford also noted that Ms. Catania has been absent for three consecutive Board of Director’s meetings and according to the By-Laws, that calls for automatic termination.

II. APPROVAL OF MINUTES: Brent Burns motioned to approve January 15, 2011 minutes as presented with one change on item VIII 2B. The motion was seconded by Charles Bailey. All in favor - motion approved.

III. TREASURER’S REPORT: Ivan Langford III read the Independent Auditor’s Report by Stephen Tilson, CPA for the Townhouse 2010 annual review. Charles Lantrip motioned to approve the 2010 Townhouse Annual Review as presented. The motion was seconded by Charles Bailey. All in favor – motion approved. Ivan Langford III also read the response from Treasurer, Charles Baker regarding his concurrence with the review.

Charles Bailey motioned to approve the Treasurer’s Report as presented. The motion was seconded by Charles Lantrip. All in favor – motion approved.

IV. VICE-PRESIDENT REPORT: Discussion on 2011-2012 master policy. Margie Breslow motioned to accept master policy quote as presented with the coverage increase by Farmer’s Insurance Company for 2011-2012. Motion was seconded by Brent Burns. All in favor – motion approved.

V. COMMITTEE REPORTS:

A. Maintenance and Repairs/Electrical Inspections – Lee Brewington – All inspections completed and will be sent to all owners. The Board agreed to give owners 6 months to make necessary repairs.

B. Common Areas/Landscape - Craig Clark

Craig Clark presented 3 choices for new yard light replacement. The Board agreed on the “acorn” globe style with 6’ fluted pole. Replacements will be made according to the approved annual budget.

C. Community Relations – Joyce Sidfrid, Chairman

Encouraged owners to recycle with the new cans provided.

E. Deed Restrictions - Ivan Langford, III. – No report

VI. ISSUES FROM THE FLOOR –

1. Discussion on recycling program.

2. Expiring terms of directors

VII. NEW BUSINESS:

1. Exterior painting of neighboring property – The Board reminded owners that they are responsible for their own painting of exterior walls. Any agreements of color changes on walls facing neighboring units are between the neighbors. Suggestion to have written permission and provide for office files.

2. Tree trimming in backs of units are at the cost of the owner who requested with the guidance and rules of the association. Suggestion for the office to contact Texas Forestry Service for any state funded programs to remove cedar trees.

3. Ivan Langford III motioned to accept the “Acknowledgement that the Special Warranty Deed dated August 10, 2007 (where the 32 acres is transferred from the Lower Colorado River Authority to Point Venture Townhouses, Inc.), includes language that preserves prescriptive rights that were in existence at the time of the transfer of ownership.” The motion was seconded by Charles Bailey. Seven directors voted FOR / Joyce Sidfrid abstained.

4. Charles Lantrip made a motion that the Board invalidate and rescind any previous votes that were made in the past regulating boat docks because the Board did not have legal authority. Motion was not seconded therefore not approved.

5. Discussion on re-configuring the entrance access to the 32 acres. The Board directed staff to rotate the combination of the access lock on a more frequent basis. Tabled for July 15, 2011 agenda to adopt formal policy for restrictive access to common property with fines attached for publishing in townhouse rulebook.

VIII. ADJOURN: The board adjourned at 10:50AM. Motion to adjourn by Charles Bailey. Motion was seconded by Craig Clark and all approved with unanimous vote.

Approved: July 15, 2011 Board of Director’s Meeting

Brent Burns, Secretary

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POINT VENTURE TOWNHOUSES, INC.

BOARD OF DIRECTOR’S MEETING

January 15, 2011

President Sonny Ables called the meeting to order at 9:00 AM on Saturday, January 15, 2011. The meeting opened with a roll call of those present.

I. DIRECTORS PRESENT: President Sonny Ables, Directors Brent Burns, Ivan Langford III, Craig Clark, Joyce Sidfrid, Charles Bailey, and Charles Lantrip. Arlene Catania was absent with proxy given to Sonny Ables. Marji Breslow was absent with proxy given to Joyce Sidfrid. A quorum was established.

II. APPROVAL OF MINUTES: Brent Burns motioned to approve October 16, 2010 minutes as presented with one change on item II. The motion was seconded by Craig Clark. All in favor - motion approved.

III. TREASURER’S REPORT: Charles Baker reported that the association was in good shape financially with one recent foreclosure at 505 Demarett Dr. which PVTI will collect past dues in full. Two units were foreclosed by the mortgage company. Ivan Langford, III motioned to approve the Treasurer’s Report with provision to reserve $2000.00 to be set aside in reserve account for future Capital Equipment expense. The motion was seconded by Charles Lantrip. All in favor – motion approved.

IV. MANAGER’S REPORT: Office reported a very productive quarter and deferred to Barry Pasarew and Craig Clark for additional reports.

V. PRESIDENT’S REPORT: All is good in the neighborhood.

VI. COMMITTEE REPORTS:

A. Architectural Control Committee – Sonny Ables, President

1. Complemented owners who have done improvements.

2. Suggestion from Mrs. Sonny Ables on possibly adding an additional color choice for townhouse painting in the future.

3. Projects have been smooth working with the Village.

4. Discussion followed on continuing to encourage owners to re-paint their fascia.

5. It was suggested to send a letter to the Village office regarding authority issues.

B. Maintenance and Repairs – Sonny Ables/Barry Pasarew

1. Explained mission of this committee.

2. 143 out of 191 owners who were sent letters regarding maintenance issues. 106 owners have responded to their letters.

3. 30 owners have completed repairs or are currently in process.

4. Implementing an inspection plan every 6 months.

5. Charles Bailey motioned for letter to be sent to Village regarding their authority and fees in writing. Motion was seconded by Charles Lantrip. All in favor – motion approved.

6. Discussion on structural issues. Mr. Langford suggested action item at next meeting. Owners need to be notified of life safety issues.

C. Common Areas/Landscape - Craig Clark

1. Two sprinkler systems installed in areas of 211-223 Comanche Lane and 155-171 Comanche Dr. Cost $394.40 for total of 16 townhouses.

2. Further discussion on replacing yard lights.

D. Community Relations – Joyce Sidfrid, Chairman

1. POA dues increase.

2. “Noise for Toys” was a success.

3. Reminder of Thursday night – Open Mic.

4. The Pier is open on weekends / New TV’s available.

E. Deed Restrictions - Ivan Langford, III. – No report

VII. ISSUES FROM THE FLOOR – None

VIII. NEW BUSINESS:

1. 2011 Budget discussion by Treasurer Charles Baker

A. Ivan Langford, III questioned the equipment reserve line item 908. Consensus of the Board to increase the reserve to $5000.00.

B. Question regarding light fixtures. ACC will choose light fixture and maintenance will install 10 per year.

C. Charles Bailey motioned to increase the Equipment Reserve line item to $5000.00 and allocate $2500.00 for replacing light pole fixtures. Motion was seconded by Craig Clark. All in favor – motion approved.

2. Dock/Swim Platform Ballot Survey – Charles Bailey

A. Discussion regarding preparing a licensing agreement for current docks on 32 acres.

B. President Ables read the Armbrust & Brown Attorney’s Opinion of July 17, 2008 explaining future claim to adverse possession.

IX. ADJOURN: The board adjourned at 11:50AM. Motion to adjourn by Craig Clark. Motion was seconded by Brent Burns and all approved with unanimous vote.

Approved: April 16, 2011 Board of Director’s Meeting

Brent Burns, Secretary