CALL TO ORDER

The following are the Minutes of the Meeting of the Board of Directors of the Hasley Hills Homeowners Association held November 4, 2004 in Santa Clarita, CA. A Quorum was noted and the meeting was called to order at 7:00 p.m.

BOARD MEMBERS PRESENT

Kathy Waggoner, President; Bob Throckmorten, Vice President; Roger Ludwig, Treasurer, Larry Totter, Secretary, and Donna Covert, Member at Large.

LB PROPERTY MANAGEMENT REPRESENTATIVES

Ellen Ford of LB Property Management was also present.

APPROVAL OF MINUTES

Kathy Waggoner made an amendment to the minutes and moved to waive the reading of the General Meeting held October 7, 2004 and, approve them as amended. Roger Ludwig seconded the motion. Discussion followed. Vote was taken. Donna Covert abstained due to the fact she was not present, Bob Throckmorten opposed. Motion carried ( MSC 3-1-A)

HOMEOWNER PRESENTATONS

Mitch Green presented his research in regards to the possibilities of Castaic Annexation to Santa Clarita. He agreed to kept the Board informed and let them know about any upcoming meeting he would arrange for with the Santa Clarita Council Member.

OLD BUISNESS

KB Update:

Kathy Waggoner reported that a lawsuit has been filed but not served on behalf of the HOA against KB Homes as the Declarant Developer, and Richmond Homes as the Merchant Developer. Donna Covert motioned to employ Castro and Associates to represent the Homeowners Association through the upcoming mediation that had been postponed by KB Home and expected to be rescheduled for early December. The motion was seconded, voted on and carried ( MSC 5-0)

Rules and Regulations / Amendment Enforcement and Fine policy.

Donna Covert reported that the Rules and Regulations Amendment to the Enforcement and Fine policy had been revised and was ready to be mailed out for a 30 day review period by the membership.

COMMITTEE REPORTS

Architectural Committee

Jim DeMatte/ACC Member

Nick DeMatte presented on behalf of the Acc Committee. He reported that 200 applications had been submitted since the new acc committee was formed and their goal was that homeowners no longer had to wait the full 45 days to obtain their approvals.

Homeowner Compliance Committee

Don Jeffries/HCC Chairman

Don Jeffries reported that the ACC and the HCC are working together on issues that would overlap between the two committees and on issues that the HCC would need ACC clarification. One of the members of the ACC Committee would be present when needed at the HCC meetings. Jim Dematte was present representing the ACC at the homeowner hearings at the HCC meeting present day November 4, 2004

Finance Committee

Neil Gereb/Chairman

Neil Gereb Presented the following balances for the period ending September 30, 2004.

Operating Account $216,011.45

Reserve Account $428,918.23

Total Assets $665,528.68

Neil Gereb reviewed with Association’s Financial Reports, specifically on how the reports functions in detailing actual expenses versus budgeted amounts. Roger Ludwig reported that the 2003 financial reports are available on the Association’s web site.

Neighborhood Watch Committee

John Toungaian reported that only 17 block captains had signed up for the 739 homes in the Hasley Hills Community. John urged the need for more Block Captains.

2004 Budget Adaptation and Ratification

Roger Ludwig moved to ratify the prior decision made in executive session to increase the dues in 2004 to $116.00 per unit per month already distributed to the homeowners and taken effect in October. Discussion. The motion was revised as follows: To accept the Budget distributed in October as the 2004 budget and raise the 2004 assessment dues to $116.00 per month. ( MSC 5-0 )

2005 Budget

A motion was made and seconded to accept the 2005 pro-forma budget raising the assessment dues to $139.00 for 2005 , an increase of 19. % with a continuous effort to save money. Discussion. Donna Covert abstained, Bob Throckmorten opposed. Motion carried. ( MSC 3-Abstain-Opposed)

ADJOURNMENT

The Meeting adjourned at 9:00 p.m.

NEXT MEETING

Thursday, December 2, 2004 – 7:00 p.m.