AGENDA - tmvoa.org · President Greenspan gave a PowerPoint presentation on the state of the association. The following topics were addressed: Budget Summary, Accomplishments and

AGENDA

TELLURIDE MOUNTAIN VILLAGE OWNERS ASSOCIATION MEMBERS ANNUAL MEETING

Monday, December 30, 2013

4:00 p.m.

Mountain Village Town Hall 455 Mountain Village Blvd., Second Floor, Mountain Village, Colorado

Time Time

Allotted

Agenda

Item Topic

4:00 p.m. 5 Minutes 1. Roll Call (Jeff Proteau, Board Chairman)

4:05 p.m. 5 Minutes 2. Verification of Notice of the 2013 Annual Meeting

4:10 p.m. 5 Minutes 3. Approval of the December 2012 Annual Meeting Minutes

4:15 p.m. 10 Minutes 4. Results of Election of Directors (Kandy Shugars, CPA)

4:25 p.m. 20 Minutes 5. State of the Association (Greg Pope, President & CEO)

4:45 p.m. 15 Minutes 6. Questions & Answers

5:00 p.m. 5 Minutes 7. New Business

5:05 p.m. 8. Adjournment

Please note that this Agenda is subject to change.

Times are approximate and subject to change.

113 Lost Creek Lane, Suite A, Mountain Village, Colorado 81435

Phone: (970) 728-1904 Fax: (970) 369-7656

Individuals with disabilities needing auxiliary aid(s) may request assistance by contacting

TMVOA at the above numbers or email: [email protected] We would appreciate it if you contact

us at least 48 hours in advance of the scheduled event so that arrangements may be made to

locate requested auxiliary aid(s).

mailto:[email protected]

NOTICE OF ANNUAL MEETING The Annual Meeting of Telluride Mountain Village Owners Association will be held on

Monday, December 30, 2013 at 4:00 pm at Mountain Village Town Hall 455 Mountain Village Boulevard, 2nd Floor, Mountain Village, Colorado

ANNUAL MEETING AGENDA

1. Roll Call and Determination of Quorum 2. Verification of Notice of the 2013 Annual Meeting 3. Approval of the December 2012 Annual Meeting Minutes 4. Results of Election for Directors 5. State of the Association 6. Questions & Answers 7. New Business 8. Adjournment

NOTICE OF 2013 ANNUAL MEETING Telluride Mountain Village Owners Association


4:00 pm ~ Mountain Village Town Hall

455 Mountain Village Blvd, 2nd Floor

Please visit our website at www.tmvoa.org

Telluride Mountain Village Owners Association 113 Lost Creek Lane, Suite A Mountain village, CO 81435

PRESORTED FIRST CLASS MAIL US POSTAGE PAID

MINUTES OF THE ANNUAL MEETING OF

THE BOARD OF DIRECTORS

TELLURIDE MOUNTAIN VILLAGE OWNERS ASSOCIATION

Thursday December 27, 2012

BOARD MEMBERS PRESENT: Jon Dwight (via speaker), Jonathan Greenspan, John Horn, Christopher

Cox, Jeff Proteau, Noel Daniel, Chuck Horning

BOARD MEMBERS ABSENT: None

STAFF PRESENT: Stephanie Fanos, Jodi Repola, Stephanie Griebe, David Pihlgren

STAFF ABSENT: None

OTHERS PRESENT: Live Sauce, Jim Royer, Richard Child, Ruth Ann Hattori, Jim Mikula,

Laila Benitez, Ileane Kramen, Diego Veitie, Jeffre Fasolo, Donnalee

Kutchere, Art Kutchere, John Howe, Annette Bobby, Rich & Paula

Gilbert, Shari Mitchell, Peter Mitchell, Cath Jett, Dennis Mitchell,

Kathleen A Campbell, John Bennett, Norm Alpert, Goran Klintmalin,

Frank Eades, Dee & Martin Girard, Peter Faklis, Anton Benitez, Brian

Ahern, Charles Bowen, Dan Jansen, Bob End, Gary Buonanno, Karen

Gary, David Gary, Bob Delves, Don Perrotta, Richard, Idler, Shawn

Taylor, Trisha End, Valerie Child, Todd Gehrke

1. Roll Call and Determination of Quorum

President Greenspan called to order the Annual Meeting of the Telluride Mountain Village Owners

Association. President Greenspan announced that this was his last meeting as the President and

Residential Representative. Election results for the Residential and Commercial seats were announced

later in the meeting.

Ms. Fanos announced that a quorum had been established.

2. Verification of Notice of the 2012 Annual Meeting

Ms. Repola announced that the official notice was mailed out on November 22, 2012 along with the

election ballots. A copy of the notice was included in the board packet as well as on file with TMVOA.

Ms. Fanos commented that the notice was in compliance with regulation.

Approval of the December 2011 Annual Meeting Minutes

Director Cox made a MOTION to approve the December 28, 2011 Annual Members Meeting Minutes.

Director Proteau seconded. The MOTION passed unanimously.

3. State of the Association

President Greenspan introduced this item and gave the following introductions

MINUTES OF THE ANNUAL MEETING OF THE BOARD OF DIRECTORS TELLURIDE MOUNTAIN VILLAGE OWNERS ASSOCIATION


2

2012 Board of Directors:

Jonathan Greenspan, President, Residential (Class A)

Jon Dwight, Residential (Class A)

Noel Daniel, Lodging (Class B)

Christopher Cox, Commercial (Class C)

Jeff Proteau, Special Mountain Member (Class D)

Chuck Horning, Special Mountain Member (Class D)

John Horn, Special Mountain Member (Class D)

Staff:

Jodi Repola, Member Relations Manager

Stephanie Griebe, Administrative Assistant

David Pihlgren, Interim Accounting Manager

Stephanie Fanos, Contracted Legal Council

Committees:

Finance, Audit & Budget- Jeff Proteau, Chair; Jonathan Greenspan, Christopher Cox

Group Sales- Jon Dwight, Noel Daniel

Gondola/Chondola- Jonathan Greenspan, Chair; Christopher Cox

Grants & Events- Jon Dwight, Chair; Christopher Cox, John Horn

President Greenspan gave a PowerPoint presentation on the state of the association. The following topics

were addressed: Budget Summary, Accomplishments and On Going Initiatives, Budget Aspects, Dial-A-

Ride, and Mountain Village Community Partners. The PowerPoint presentation is available in the board

packet.

4. Questions & Answers

President Greenspan asked for member comment.

Richard Thorp, Resident; commented on the budget line item for legal costs and asked how the dollar

amount was decided. Director Proteau commented that a three year legal contract was drafted three years

ago when Nelson Sharp was Executive Director. Director Proteau commented that the contract will be

renegotiated in 2013.

Donnalee Kutchere, Resident; commented that the Dial-A-Ride wait time has been very long and the

quality of service has declined.

Kate Campbell, Resident; commented on Dial-A-Ride and asked how the options on the survey were

decided. President Greenspan commented on how the three scenarios were determined.

Richard Child, Resident; asked if TMVOA had any intent to provide true HOA-like services to the

residents. President Greenspan commented that TMVOA’s first priority is funding the Gondola and that

additional funds are for economic development i.e. Sunset Concert Series etc. Director Horn commented

that TMVOA’s number one responsibility through 2027 is funding the gondola.



3

Goran Klintmalm, Resident; expressed appreciation that the Dial-A-Ride survey asked for member input

and commented that TVMOA should not take on any member benefits.

John Myers, Resident; commented that the survey should have included a pay per use option to keep costs

down. Director Proteau commented that the Town of Mountain Village will provide a lot of information

moving forward. Director Horn commented that no decisions have been made about Dial-A-Ride.

Jim Royer, Resident; commented on economic development and the need for a coordinated plan between

the Town of Mountain Village and TMVOA. Mr. Royer suggested charging tourists to ride the gondola as

a revenue source. President Greenspan gave some history on the Gondola and commented that San

Miguel County is the governing body regarding gondola tolls.

Diego Vieta, Resident; agreed with Mr. Royer and commented in favor of TMVOA cutting costs.

Goran Klintmalm, Resident; agreed with Mr. Royer comments and that DAR should be a pay per use

service.

Donnalee Kutchere, Resident; commented that if Dial-A-Ride charges per ride, a family of four is a large

expense.

Jeffery Fasolo, Commercial and Property owner; commented that TMVOA should investigate obtaining a

special event liquor license so businesses can generate cash flow during events such as the Sunset Concert

Series. Mr. Fasolo also commented that Dial-A-Ride has been late and inconsistent. President Greenspan

commented that transitions have bumps. President Greenspan commented on the liquor license; the State

of Colorado has recently passed a law that allows it to happen in certain places and that the businesses

have to get together and apply for it. Mr. Fasolo commented on the expense for Sunset Concert Series and

that TMVOA should pay for the liquor license.

Director Horn commented on the Sunset Concert Series and asked the membership for their input on the

event.

Bob Delves, Mountain Village Mayor; asked the membership to present their Dial-A-Ride complaints to

the Town. Mr. Delves commented that the dispatcher is not familiar with the area and that is a matter of

training.

Richard Child, Resident; commented that the Concert Series should be open to everyone as it brings

business to the community.

President Greenspan addressed his thoughts on the future needs of TMVOA.

Results of Election of Directors

President Greenspan thanked the residents for letting him be their representative and announced the

results of the 2012 election.

Class A: Residential

Total possible votes: 2,160.83



4

Total votes cast: 941.9963

Elizabeth Bath received 401.113 votes with 42.58% of votes cast.

Neal Elinoff received 78.061 votes with a total of 8.29% of votes cast.

Pete Mitchell received 462.8222 votes with a total of 49.13% of votes cast.

Class C: Commercial

Total Possible Votes 1180

Total votes cast 242

Christopher Cox; unopposed.

President Greenspan announced the 2013 Board of Directors for TMVOA

Class A: Residential

Jon Dwight

Pete Mitchell

Class B: Lodging

Noel Daniel

Class C: Commercial

Christopher Cox

Class D: Mountain Special Member Appointments

Chuck Horning

Jeffrey Proteau

John Horn

Pete Mitchell gave an acceptance speech following the announcement of the new 2013 Board of

Directors.

5. New Business- None

6. Adjournment

President Greenspan made a MOTION to adjourn the Annual Meeting. Director Proteau seconded. The

MOTION passed unanimously. The meeting adjourned at 5:35 p.m. MST.

2013 ELECTION RESULTS Annual Meeting

December 30, 2013


CLASS A: RESIDENTIAL

Total Possible Votes: 2,165.17

Total Votes Cast: 678.5452

Total Unique Voters: 253

Disqualified Ballots: 32

Candidate Votes % of votes cast

Jon Dwight 451.3352 66.52%

Brian Eaton 118.04 17.40%

Brian Kanaga 66.16 9.75%

Richard Hetzel 30 4.42

Marla Meridith 13 1.92%


CLASS B: LODGING

Total Possible Votes: 634.776

Total Votes Cast: 66.2777 *

Total Unique Voter: 35

Disqualified Ballots: 2

Candidate Votes % of votes

cast

Noel Daniel 66.2777 100%

* 126.9552 votes (20% of possible votes)

were required to meet quorum requirements.


CLASS A: RESIDENTIAL

• Jon Dwight

CLASS B: LODGING

• No board member placement due to failure

to meet quorum requirements.

1

State of the Association Annual Meeting

December 30, 2013

• TMVOA’s mission is to preserve and promote a vital resort community for its members, with attention to creating a sustainable village with a vibrant economy.

TMVOA Mission

2

Greg Pope – President & CEO

David Pihlgren – Interim Accounting Manager

Garrett Brafford – Accounting Manager

Sara Larsen – Operations Manager

Joe Solomon – TMVOA Legal Council

TMVOA Staff

3

First 120 Days

• I was hired as President & CEO Aug 22, 2013 • 2014 Budget completed and approved • Completed RFP for new Investment Manager, savings

of $41,500/year (41%) • Revised Investment Policy • Completed competitive bid, negotiated and hired a

Dial-A-Ride provider • Per member input changed policy to 80 free rides,

$8/ride after 80 rides in winter season • Amended and Initiated Collection Policy • Hired new Accounting Manager • Hired new Operations Manager

Financial

Information

5

Cash Balances: Year over Year

Comparison

6

12/24/2012 12/24/2013 Year over Year

Variance

Alpine Bank Operating 1,385,974 883,490 (502,484)

Alpine Bank Money Market 249,449 1,715,032 1,465,583

US Bank Lockbox 84,642 73,594 (11,048)

UBS Bond Portfolio 13,891,150 13,630,171 (260,979)

Total Cash Balance 15,611,215 16,302,287 691,072

2014 Budget: At-a-Glance

7

79%

13%

71%

28%

68%

20%

6%

6%

0.2%

1%

3%

4%

39%

24%

18%

14%

4%

2%

Monthly

Assessments

RETA

Rent Income; $343K

Investment; $339K

DAR; $14K

$5.60M

Total

Expenses

$5.91M

Total

Revenue

$4.05M

$1.2M

$4.00M

Operating

Discretionary

$1.56M

Debt

Service; $60K

Member Benefits; $606K 0.6M

Economic Stimulus; $291K

Gondola; $363K

Chondola; $210K

Other; $60K

CTOA Plaza Repairs; $38K

Gondola O & M

0.5M

R/E Carrying; $158K

Admin & General; $531K

$3.19M

Chondola O & M; $139K

7

2014 Budget Summary

2012 Actual

2013 Amended

Budget

2013 Projected

2014 Approved

Budget

Increase vs. 2013

Projected

Beginning Balance 13,318,789 15,328,212 15,328,212 15,865,383 3.5%

Revenues 6,779,755 4,763,399 5,551,405 5,912,664 6.5%

Operating Expenses 3,610,844 4,146,686 3,950,935 4,017,210 1.7%

Net Operating Surplus/(Deficit)

3,168,911 616,714 1,540,338 1,895,453 23.1%

Debt Service 61,315 60,132 60,132 60,159 0.0%

Discretionary /Non-Recurring Expenses 1,038,223 1,202,976 993,284 1,574,653 58.5%

Net Surplus/(Deficit) 2,069,374 (646,395) 547,054 260,641 -53.3%

Ending Balance 15,328,212 14,681,817 15,865,383 16,116,025 1.6%

8

RETA: Historical View

2008 thru 2012 Estimated 20,023,637$

5 Year Average 4,004,727$

2000 thru 2012 Estimated 78,431,418$


TOTAL HISTORICAL AVERAGE SINCE INCEPTION 102,139,024$


2008 thru 2012 20,023,637$


2000 thru 2012 78,431,418$




2008 thru 2012 20,023,637$


2000 thru 2012 78,431,418$



23 Year Average 4,440,827$ 9

Revenue Summary

2014 Approved Budget

10

2012 Actual

2013 Projected


Increase vs. 2013 Projected

RETA 4,881,521 3,788,031 4,045,000 6.8%

Owner’s Assessments 1,172,641 1,171,957 1,171,477 0.0%

Rental Income 359,932 350,418 343,187 -2.1%

Investment Income 365,260 241,000 339,000 40.7%

DAR Income - - 14,000 -

Total Projected Revenue 6,779,755 5,551,405 5,912,664 6.5%

Operating Expense Summary


11

2012 Actual

2013 Projected


Increase vs. 2013 Projected

Admin & General 533,511 481,289 530,583 10.2%

R / E Carrying Cost 143,804 158,648 158,129 -0.3%

Gondola O & M 2,811,497 3,185,424 3,189,285 -0.1%

Chondola O & M 122,031 139,213 139,213 0.0%

Total Operating Expenses 3,610,844 3,964,574 4,017,210 1.3%

Discretionary Expenses

12

Expense Summary

CTOA Plaza Repairs

$38K

Other $60K

Chondola CapX $210K

Economic Stimulus

$291K

Gondola CapX $363k

Member Benefits

$606K

Total Discretionary Expenses

$1.56M

Member Benefits (39%)

Gondola CapX (23%)

Economic Stimulus (19%)

Chondola CapX (13%)

Other (4%)

CTOA Plaza Repairs (2%)

• Winter Fest $10,000

• Cirque Core (Buskers) $12,000

• Mountain Film $25,000

• Telluride BBQ Festival $10,000

• Telluride Aids Benefit $10,000

• Telluride Film Fest $69,000

• Telluride Ski & Snowboard Club $10,000 • TOTAL $146,000

13

2014 Economic Stimulus

• Gay Ski Week $45,000

• Additional events placeholder $100,000

• TOTAL $145,000

• GRAND TOTAL $291,000

14

Economic Stimulus Place Holder

$65K (10.7%) $65K (10.7%)

Member Benefits

2014 Budget: $605,500

4th of July Celebration; $15K (2.5%)

Telluride HS Scholarship; $4K (0.7%)

Sunset Concert Series $65K (10.7%)

New Year’s Eve Fireworks $10K (1.7%)

Guest Services; $3K (0.4%)

15

Member Social $5K (0.8%)

• Communicate the issues that are of vital importance to your Mountain Village investment in a succinct manner

– Thumbs Up/ Thumbs Down

• Move comprehensive plan forward

• Long term gondola strategy

• Continuation of Economic Stimulus/ Member Benefits

2014 Initiatives

16

17

Questions?

AGENDA

TELLURIDE MOUNTAIN VILLAGE OWNERS ASSOCIATION SPECIAL BOARD MEETING


Immediately following the Annual Meeting

Mountain Village Town Hall 455 Mountain Village Blvd., Second Floor, Mountain Village, Colorado

Time Time

Allotted

Agenda

Item Topic

5:05 p.m. 5 Minutes 1. Call to Order and Determination of Quorum

5:10 p.m. 5 Minutes 2. Consent Agenda – Consideration and Approval of the Minutes from the December 27, 2013 Special Board Meeting

5:15 p.m. 5 Minutes 3. Procedure for Election of TMVOA Officers

5:20 p.m. 10 Minutes 4. Election of 2014 TMVOA Officers (Chairman, Vice Chairman and Secretary/Treasurer)

5:30 p.m. 5 Minutes 5. Determination of Date for the January 2014 Board Meeting

5:35 p.m. 6. Adjournment

Please note that this Agenda is subject to change.

Times are approximate and subject to change.

113 Lost Creek Lane, Suite A, Mountain Village, Colorado 81435

Phone: (970) 728-1904 Fax: (970) 369-7656

Individuals with disabilities needing auxiliary aid(s) may request assistance by contacting

TMVOA at the above numbers or email: [email protected] We would appreciate it if you contact

us at least 48 hours in advance of the scheduled event so that arrangements may be made to

locate requested auxiliary aid(s).

mailto:[email protected]

MNUTES OF THE MEETING OF

THE SPECIAL BOARD OF DIRECTORS



BOARD MEMBERS PRESENT: Jon Dwight (via speaker), John Horn, Christopher Cox, Jeff Proteau,

Noel Daniel, Pete Mitchell, Chuck Horning

BOARD MEMBERS ABSENT: None

STAFF PRESENT: Stephanie Fanos, Stephanie Griebe, Jodi Repola, David Philgren

STAFF ABSENT: None

OTHERS PRESENT: Cath Jett, Richard Childs, Valerie Childs

1. Call to Order

Director Proteau called the Telluride Mountain Village Owners Association Special Board Meeting to

order at 5:45 p.m. MST.

2. Procedure for Election of TMVOA Officers

Ms. Fanos discussed the procedures for the election of officers. Director Proteau asked for nominations.

Director Daniel nominated Director Proteau for office of the President. Director Cox seconded the

MOTION. The MOTION passed unanimously.

Director Proteau asked for member/public comment- None

Director Horn nominated Director Cox for office of the Vice President. Director Daniel seconded. The

MOTION passed unanimously.

Director Proteau asked for member/public comment-None

Director Horn nominated Director Daniel for office of the Secretary/Treasurer. Director Cox seconded the

MOTION. The MOTION passed unanimously.

Director Proteau asked for member/public comment-

Cath Jett, Resident; made a request that a Residential representative be on the Executive Board. Director

Cox commented in favor of a Residential representative and that Director Mitchell needed some time to

get acquainted with TMVOA. Director Proteau commented in favor of having a Residential representative

on the executive board as well. Richard Childs, Resident; agreed with Ms. Jett’s request.

Ms. Jett expressed her frustration to the board that the membership is not aware that they have input as to

who is nominated into the executive board positions.

MINUTES OF THE SPECIAL MEETING OF THE BOARD OF DIRECTORS TELLURIDE MOUNTAIN VILLAGE OWNERS ASSOCIATION

December 27, 2012

2

Director Proteau asked for further nominations based on the above comments

Director Horn commented that Director Daniels brings an important perspective to the board. Director

Horn suggested that since the position is for Secretary/Treasurer that the positions could be split.

Ms. Fanos commented that splitting the positions was not an option because the bylaws were rewritten

earlier in the year to combine the office of Secretary and Treasure.

Director Proteau asked a second time for a MOTION regarding the position of Secretary/Treasurer. The

above MOTION stands.

3. Determination for Date for the January 2013 Board Meeting

Ms. Repola announced that typically the meeting is on the 3rd

Wednesday of every month. Director

Proteau made a MOTION to have the first board of directors meeting on Wednesday January 16, 2013 at

4:00pm. Director Cox seconded. The MOTION passed unanimously.

Director Cox made a MOTION to move into executive session. Director Horn seconded, the MOTION

passed unanimously. The meeting moved into executive session at 5:55 p.m. MST.

Director Horning made a MOTION to move back into regular session. Director Cox seconded the

MOTION. The MOTION passed unanimously. The meeting moved back into regular session at 6:26

p.m. MST.

Director Horn MOTIONED that President Proteau prepare a proposed contract for Gary Suiter as interim

Executive Director by the January 16th 2013 meeting. The contract is to incorporate the following: a 90

day review clause of Mr. Suiter, job requirements not limited to, but including the assimilation a 30, 60,

90 day action plan. Director Horning seconded. Director Cox opposed, Director Mitchell abstained. No

further discussion. The MOTION passed 5-2.

4. Adjournment

Director Cox made a MOTION to adjourn the meeting. Director Daniel seconded and the meeting

adjourned at 6:40 pm MST

Documents

AGENDA - tmvoa.org · President Greenspan gave a PowerPoint presentation on the state of the association. The following topics were addressed: Budget Summary, Accomplishments and