BOARD ACTIONS SUMMARY

By Heather Blumenthal, Operations Manager

OCTOBER 18TH – BOARD OF DIRECTORS

Executive Session

BOARD ACTIONS

• Reviewed 0 Personnel Matters

• Reviewed 7 Disciplinary Matters

• Reviewed 1 Contract

• Reviewed 8 Legal Matters

OCTOBER 18TH – BOARD OF DIRECTORS OPEN SESSION

BOARD ACTIONS

• Extended the Cove 2 Subdivision Special Assessment Ballot period to November 15th, 2023, at 5:05PM.

• Approved publishing the 2022 Annual Audit

• Appointed Dave Peterson as Board President for the 20232024 Term

• Appointed Peter Grant as the Board Vice President for the 2023-2024 Term

• Appointed Michelle Pandori as the Interim Board Treasurer for the 2023-2024 Term

• Appointed Sabine Litten as the Board Secretary for the 2023-2024 Term

• Approved the Board Meeting Schedule for November 2023-April 2024.

• Approved a revamp of the Cove Advisor Committee structure into the Townhouse Executive Committee with 4 Committee Roles for Chairperson, Finance, Communications, and Standards with a new Committee Charter to be drafted by legal counsel.

• Appointed Sabine Litten as the Townhouse Executive Committee Chairperson.

• Appointed Michelle Pandori as the Board Liaison to the Finance Committee

• Disbanded the Water Conservation Ad Hoc Committee

• Appointed Pete Wolcott to the Water Company Board Subcommittee

• Accepted Sabine Litten’s resignation from the Rules and Enforcement Review Committee.

• Removed Ken Silveira from the Disciplinary Board Subcommittee and appointed Pete Wolcott.

• Appointed Michelle Pandori to the Tahoe Keys Marina and Corporation Yard Board Subcommittee

• Approved binding additional $40 million property insurance coverage subject to whether more desirable coverage through the California Fair Plan may be obtained within the next 2 weeks or less.

• Scheduled a Special Board of Directors meeting for October 20th, 2023 at 4:00PM to review potential changes to the property insurance proposal.

• Approved an Emergency Special Assessment to be charged to Townhome Property Owners for the additional $40 million property insurance coverage at the $1,415,430 premium cost subject to whether more desirable coverage is obtained through the California Fair Plan.

• Ratified the September 20th, 2023, Board approval of the 2024 Townhome Operating and Reserve Budgets subject to the insurance renewal proposal and subsequent emergency special assessment.

• Approved the proposed 2024 Fine Policy and Fee and Fine Schedule for a 28-day membership review period.

• Approved the proposed Shared Home Rental TKPOA Permit Rules and Regulations for a 28-Day membership review period and to set the proposed Permit Fee of $500 per year.

• Approved BPM Construction for $155,760 plus a 10% contingency for a total cost of $171,336 for the Cove 3C Balcony Replacement Project to be funded from the Cove 3C Reserve fund.

• Approved the contract with Haen Construction for a cost up to $302,500 for the full Islanders 1 Bulkhead Repair project subject to obtaining additional bids within the next 60 days to be funded from the Islanders 1 Reserve fund and potential future Special Assessment.

• Approved the purchase of a new Indoor Pool Boiler from Nevada Chiller and Boiler for a cost of $66.810.60 to be funded from the Common Reserve fund.

OCTOBER 20TH – SPECIAL BOARD OF DIRECTORS SESSION

Board Actions

• No Board action required as property insurance coverage cannot be currently obtained through the California Fair Plan; the October 18th, 2023, Board motions to bind the additional $40 million of property insurance coverage and charge a special assessment to Townhome property owners to fund the premium are affirmed.

Note: All meetings will be held at the TKPOA Pavilion, 356 Ala Wai Blvd, South Lake Tahoe unless otherwise noted. Member meeti attendance is also available via online Zoom conference call. Links and call in information for meetings are posted on the TKP ahead of each meeting. Please contact the TKPOA Front Desk at (530) 542-6444 for details on member attendance via Zoom.