THE GLEN OF
PACIFIC GROVE HOMEOWNERS ASSOCIATION
BOARD OF DIRECTORS MEETING
36 Glen Lake Drive
Pacific Grove
MINUTES OF SPECIAL MEETING
1.0 CALL TO ORDER
2.0 ROLL CALL
Jack Rutherford Director Present
Jack Rugar Director Present
Glen Grossman Director Present
Virginia Capra Director Absent
Candy Pollock Vice-President Absent
Joseph Chaffers Agent Present
Members Present: Carol Rutherford, James Forkner, Christina Bronfeld
Guests: Jeff Kane, Bob Cox
3.0 RESIDENT REQUESTS:
Christina Bronfeld presented a petition signed by approximately 20 Association members requesting that The Glen procure new landscape gardeners. Christina also presented a 10" weed that was growing in front of her unit. Action on the gardeners' contract deferred. (Joseph to include a copy of the petition in the next mailer to the Board).
4.0 Jeff Kane:
Earthquake Insurance - policies on the market offer 5%, 7.5%, and 10% deductibles. Our policy has a 10% deductible per building with a minimum required damage of $25,000 per occurrence.
Directors and Officers liability - One million coverage. The policy is a "claims-made policy." There is coverage for a claim so long as the policy is in effect when the claim is made. The policy covers committees and directors. (Joseph may be covered for liability under the D&O policy.)
Windows - coverage will not take effect until there is $5,000 of damage .
Umbrella Insurance - Three million. Includes excess D&O liability.
We are not insured for landslides, water seepage, or suits for inadequate insurance.
(Joseph to include copies of all insurance policies in the next mailer to the Board).
5.0 Bob Cox: A draft Reserve Study has been submitted. The Study assumes a 3% inflation factor multiplied by today's cost to repair. He suggests a 5 year inspection program.
6.0 FUTURE BOARD MEETINGS AND ADJOURNMENT
9.01
Next Board meeting will be