Meeting was called to order by Rob Pahl, President of the Board of Directors. Asked all in attendance introduce themselves to the group, which was done.

Discussion of the minutes from last annual meeting

Discussion ensued about budget and spending on front entry improvements, landscape, sprinklers, stonework. Questions raised about why we have not raised dues from $29/month and stated that our dues are very low compared to other neighborhoods and comparable types of communities. Rob P. responded that no specific projects have been approved by the homeowners so the existing dues are covering our obligations.

Motion to accept minutes (from homeowner), seconded by Jim Dirker (Board Member), passed by vote of homeowners.

Presentation and Discussion of Annual Budget

Mike Barela (Treasurer) began discussion of annual expenses and budget.

Questions raised about landscaping expenses; how many bids on landscape work, etc. Rob P. stated that we have used 3 or 4 companies through the years and have found the costs to be competitive.

A discussion ensued regarding a more frequent reporting of Glen Oaks financial statements. Motion to post the Glen Oaks HOA financial statements on the Castle Pines North web site proposed, seconded, and passed by the homeowners.

Discussion about HOA accounting and book keeping: Chris Stopps handles the HOA dues, bills and preparation of financial statements, earning $150 per month for this service. Some discussion ensued about outsourcing or transferring this responsibility to another homeowner. Nothing formal was adopted.

Motion to accept financial reports and budget, seconded and passed by the homeowners.

Castle Pines North Update

Brian Stopps is Glen Oaks HOA representative to the Castle Pines North Master Association (CPNMA) and on the board of CPNMA. Brian updated the homeowners on several issues:

• Hidden Pointe has settled its legal proceeding against CPNMA and has joined the association.
  
  

• The CPNMA dues have increased to $216/year and 70% of these funds go to the newly created Parks Authority. A 20 acre park next to the CPN Community Center (Castle View Park) is slated for development with these funds over the next several years.
  
  

• Update regarding the power pole legal settlement and power pole construction activity. A $5MM underground alternative and legal battle were abandoned.
  
  

• Discussion regarding incorrect information on the CPN web site (specifically regarding trash pick up dates). Brian Stopps and Rob Pahl agreed to ensure correct and accurate information on the site.
  
  

• Questions regarding the Metro District relating to CPN water issues. How is Glen Oaks represented at the Metro District? Brian outlined that Glen Oaks is represented at the Metro District by the CPNMA, which holds a board seat on the Metro District board of directors.
  
  

• Discussion regarding the NW corner of Monarch and Castle Pines Parkway. The 15.7 acre space (CC-20) is scheduled for commercial subdivision and development. This issue is of great concern to the homeowners due to the increase in traffic at the corner, the uses on the land, noise, changes to the views from Glen Oaks, etc. Many homeowners voiced intentions to fight this development by volunteering and attending upcoming meetings (highlighted on the cover page under NOTICES). It was agreed that Glen Oaks should have a major presence at all public meetings on this issue.
  
  

• Discussion regarding the increase in air traffic over Glen Oaks. Homeowners were encouraged to call Centennial Airport 303-790-0598 to complain about any noisy or low flying aircraft overhead. It was also suggested that the increase in air traffic may be due to Centennial having one runway closed for repair during much of the past year.
  
  

• CPN social events were covered including concerts, carriage rides, wine and cheese events planned for CPN.

Glen Oaks Update

Discussion of small strips of land near the entrance owned by another private party. Brian Stopps has spent over a year trying to arrange the purchase of this property on behalf of the HOA. The purpose of owning this parcel will be to have control over this land near our entrance. By owning this land, we will also be in position to negotiate with the Ridge Golf Course to assist the HOA in maintaining this grass area that the golf course crosses with its cart path. This could potentially save the HOA a significant amount should The Ridge Golf Course take on the maintenance of this area. The current owner, Chris Fellows, has agreed to sell this parcel for the taxes due which is roughly $335. Brian has agreed to continue to work on closing this transaction on behalf of the HOA. The HOA will not have to pay taxes on this property as a non-profit organization.

Rob Pahl discussed various street/sidewalk improvements happening around Glen Oaks. The County has been repairing/replacing curbs, gutters, sidewalks and portions of roads as necessary. The order of priority has been to take care of the oldest sections of Glen Oaks first and move toward the newer areas.

Board Member Comments / General Discussion
Rob Pahl thanked the following people for their efforts over the past year.

• The Board members for their service
  
  

• Brian Stopps for the many areas in which he serves the community
  
  

• Joyce Romanello and all who worked with her on the Summer Block Party and Christmas Party this year.
  
  

• Steve Buretz and the pool committee for their work
  
  

• Chris Stopps for her accounting work for the HOA
  
  

• Joyce Romanello and Rich Wiley for their help in recruiting new board members
  
  

• Our neighborhood needs volunteers for the roles of both monitoring entrance landscape upkeep, and the installation of holiday decorations. As well, help is needed with the homeowner organization's financial book keeping. If you can offer even a small amount of your time to help, please contact Laurie O'Hara-Torres @ 303-660-3593.
  

Communication

Homeowners agreed that they would like to see more frequent communication of issues facing our community.

• Julie Snook volunteered to produce a quarterly newsletter that will update the community on news and events, babysitters, etc.
  
  

• More info will be placed upon the CPN web site.

Election

Three board member terms expired as of this meeting. Rob Pahl, Jim Dirker and Robbie Robinson are leaving the board. Steve Buretz and Mike Barela will complete their 2 year term this year. Introduction of four board candidates were made. Richard Wiley, Julie Snook, Laurie O’Hara-Torres, and Annie Riggs stood up and introduced themselves and discussed their reasons for running for the Board. Election of Board members was conducted and results were tabulated.

The incoming Board members elected for two-year terms are as follows:
Laurie O’Hara-Torres – President of the Board
Richard Wiley – Vice President
Annie Riggs – Secretary

It was determined and agreed that Mike Barela will continue as Treasurer and Steve Buretz will continue as Chairman of the Pool Committee until each of their terms expire upon the next Annual Homeowners Meeting and election of new board members in early 2006.

Swimming Pool Study

The report prepared by the Swimming Pool Committee was distributed to homeowners as they turned in their votes for new Board Members. It is assumed by the Board and Swimming Pool Committee that reports were received by the absent homeowners when the homeowners present at the annual meeting took a copy on their behalf.

No formal discussion of the Swimming Pool Study took place at the Annual Meeting. Instead, homeowners were encouraged to read the report and then attend a meeting on March 22nd at 7:00 PM at the CPN Community Center to discuss the report in detail. No vote will be taken at this meeting. The bylaws of the Glen Oaks Homeowners Association require that information be distributed a minimum of 30 days prior to any vote in order for the community to have time to discuss and consider the item before any vote. Should the homeowners attending this meeting determine that adequate information is available to take the issue to a vote, then such vote will be scheduled. If additional information is required, the homeowners will direct the committee as needed.

Meeting Adjourned