Minutes of the Annual Meeting

Saturday, August 6, 2022,

Meadowlark Village Condominium Association

Minutes of Annual Meeting, Saturday, August 6, 2022

The meeting was called to order on Association premises at the tennis court by Director Kevin Ramsay at 9:07 a.m. Our representative from Great North, who served as Inspector of Election, confirmed that a quorum of 83.94 percent voting power was in attendance in person or by proxy.

Present in person or by proxy were the following units:

100, 101, 102, 103, 104, 106, 107, 108, 110, 111, 112, 113, 117, 118, 200, 201, 202, 203, 204,

205, 206, 208, 209, 210, 300, 301, 302, 303, 304,305, 306, 307

A motion was made by unit owner Charles Doughty to waive the roll call and reading of the minutes from the prior Annual Meeting, which minutes had previously been distributed to all unit owners. The motion was seconded by unit owner Diane Ramsay. The motion was passed unanimously on voice vote of the unit owners in attendance.

Reports

Director Ramsay thereupon gave a report to the unit owners, noting various projects and initiatives that had been undertaken during fiscal 2021, which included, among other things, approval of several major renovation projects, replacement of light posts and light fixtures, replacement of older privacy fences, removal of several pine trees that had been considered dangerous by our arborist, sewer pump maintenance, repair and patching of the tennis court, the replacement of the awning at the pool, the repair of underground broken pipes for units 300 and 301, continued intervention for water issues in multiple unit crawl spaces and garages, continued water management issued in various units, front step repairs for various units, excavation and underground pipe repair for unit 205, and various repairs as needed.

Director Ramsay also discussed various exposure areas that our Association may face in fiscal 2023 and beyond, including sewer and underground water feed systems, weather induced surprises (heavier than anticipated snowfall, pipe breakage, etc.).

Director Ramsay also recognized the work done by the Association’s site manager, Kara-Ann Kuffel and the Association’s accountant, Melissa Jackson. Unit owners were then reminded to pay their monthly dues on a timely basis, and to put any Association-related concerns in writing to Kara-Ann Kuffel at Great North Property Management, and to address any condo fee payment questions to Melissa Jackson.

Director Ramsay also reminded unit owners that ownership in a condominium form of organization was different than home ownership. Board approval must be sought before doing anything outside of your unit. Examples provided were decks, plantings, windows, doors, and awnings. Further, nothing should be attached to the vinyl siding on units. With respect to the interior of units, any significant renovations require Board approval. Examples provided were kitchens, bathrooms, and the development of space such as second floors and basements.

Finally, Director Ramsay reminded unit owners of the construction moratorium in force from July 1 until Labor Day, and provided friendly reminders respecting the duties of unit owners, all of which were also provided in writing to all unit owners and made available again to physical attendees of the annual meeting. These reminders include the following:

• Turn off water to your unit if you are going to be away for several days
• Always ensure pool gate is locked if you are the last one to leave
• Ensure you have signed a waiver before using the pool or tennis court
• When possible, please water the grass and new plantings
• Leave trash in “capped” containers, and keep them inside the garage except the night before the day of trash collection.
• BOD approval required before renting your unit
• Basements: maintain an operating dehumidifier at all times
• Dog waste must be picked up immediately
• Please make sure your guests follow the rules
• Keys kept onsite for emergency & association business only

A copy of the materials distributed will be appended to these minutes.

Director Ramsay then turned the meeting over to Director Flanagan, the Association’s Treasurer, who gave a detailed explanation of the status of the Association’s finances as of the end of fiscal 2022 and our planned Operating Budget for fiscal 2023, which were presented to attendees. Each of the major expense categories were discussed including

the underlying assumptions and the impact that inflation has had on several budget lines. Director Flanagan also reviewed the planned capital expenditures for roofs in the current fiscal year as part of our multi-year schedule.

Director Flanagan also discussed the long term financial strategy for Meadowlark Village with a focus on building up our cash reserves. He shared the three year trend for cash reserves, which totaled $57.8K at the close of the 2021-22 fiscal year, and the Board's goal to achieve at least a $90K to $100K reserve over the next several years. This led to

an extensive discussion on the importance of the reserves and the advisability of setting an even higher long term goal given the age of the Village and potential infrastructure costs that could come up. One suggestion from a unit owner was that the Board look into establishing a line of credit that could be tapped in the event of a major capital improvement need to provide short term financing for such a project. The Board will look into this option and also review any applicable Maine state condominium laws and regulations.

Finally, Director Modena discussed the new Association web page, which is now accessible and substantially finished. Unit owners were informed that they may obtain a directory of unit owners from Kara Kuffel, but that due to security concerns the directory would not be on the web site. To access the new web page, go to www.meadowlarkvillageogt.com/ Use pool combination 0270 as password.

At various points during the presentation, several unit owners asked questions that were addressed by Directors Flanagan, Werthan, Brockway, and Modena. These topics included questions on the budgetary process of the Association, the current plans of the Ogunquit Playhouse, the work of the Tree Committee, and the new Association web page.

Election

After counting the proxies submitted by unit owners, Inspector of Election Kuffel reported that a substantial majority of unit owner voting power in excess of 90 percent had elected Walter Mello, Lauren Leyden, and Jim Modena to the board for a term of three years.

Adjournment

There being no new business to address, the Annual Meeting was adjourned at 10:00 a.m.

Respectfully submitted, Jeffrey M. Werthan, Secretary