THE GLEN OF PACIFIC GROVE HOMEOWNERS ASSOCIATION
BOARD OF DIRECTORS MEETING
AGENDA
1.0 CALL TO ORDER
2.0 ROLL CALL
Candy Pollock Director Present
Jack Rutherford Director Present
Jim Ray Director Present
Jack Rugar Director Present
Glen Grossman Director Present
Managing Agent Joseph Chaffers - Present
Members Present: Roger Axt (#13), Carol Rutherford (#36), Rick Busman (#71).
3.0 The Reserve Account.
Rick Busman and Jim Ray presented 3 scenarios:
A. if there is no change in the current funding of the Reserve Account, a special assessment of $109,000 or $16,000 per unit will be required in 2008.
B. The minimum increase required to balance the Reserve Account but with no margin of error.
C. The minimum increase required to balance the Reserve Account and provide a safety net for unforeseen expenditures.
No action was taken
4.0 Executive Session.