Wyndham Club Board Meeting Minutes

December 18, 2008

Call to order: 7:15 PM

Meeting adjourned: 7:33 PM

Attendees:

Board of Directors Present: Jason, Wally, Sharon

Hillcrest Property Management Associates: Gayle Simon

1. Roll call

· Jason – Member at Large - Present

· Wally – Secretary - Present

· Sharon – President – Present

· Derek – Treasurer – Not present

2. Approval of November 20, 2008 minutes

· Motion to approve: Jason

· Seconded by: Sharon

3. President’s Report

· San Tropai Easement Agreement dispute: parties have agreed to mediation

4. Approval of November 2008 financial statements

Ending balances:

· Operating Account = $18,049.92

· Reserve (American Chartered Bank) = $128,153.54

· Reserve (Barrington Bank) = $1, 169.51

· Loan Escrow Account = $225,996.78

· Total cash assets = $373,369.75

5. Management Report

· Approval of 2009 budget & one-time special assessment

o Motion to approve: Sharon

o Seconded by: Wally

· Siding on 1271-1277 will be complete by December 24, 2008

· As of December 19, 2008, there will be 4 entrances left to paint

· Board ratified email vote to hire Northwest Suburban Patrol

· PTS non-responsive to demands to complete siding punch list items; Gayle will follow up with KSN for appropriate legal action

6. Open Floor

7. New Business

· Annual meeting date to be set in early 2009

8. Old Business

· None