BOARD MEMBERS PRESENT
John O’Connor, President Ron Davis, Director
Peggy Tierney, Vice President Sylvia Hartman, Director
Bill Burnham, Secretary Bill Voorhees, Director
Michael Roos, Treasurer Fred Williams, Director

BOARD MEMBERS ABSENT
Meredith Carnahan, Director

ALSO PRESENT
Ed Lawson, Association Attorney Marlene Lowry, Manager
Kathi Sisiam, ADC Administrator Elkhorn Owners (per attached)

1. CALL TO ORDER
   John O’Connor called the Annual Meeting to order at 4:05 p.m. and introduced Board Members, Legal Counsel and Staff.
2. ESTABLISHMENT OF A QUORUM
   A quorum was not established, as only 49% of the SVEA voting membership were present either in person or by proxy.
3. APPROVAL OF 2002 ANNUAL MEETING MINUTES
   No action was taken due to the lack of a quorum.
4. BOARD REPORT
   Reports were given on The Community School, Master Declaration Amendments, Sun Villa development, and CG-Elkhorn development.
5. FINANCIAL REPORT
   Michael Roos reported on the 2002/2003 balance sheets and the 2003/2004 budgets.

   SVEA ANNUAL MEETING
   December 30, 2003

   Page 2

   Following the Board Report and the Financial Report, questions were taken from the membership.

6. ELECTION OF BOARD OF DIRECTORS
   No action was taken due to the lack of a quorum.
7. OTHER BUSINESS
   There was no other business.
8. ADJOURNMENT

John O’Connor announced that, because we were unable to establish a quorum to hold an official meeting, pursuant to the SVEA Bylaws, this meeting would be adjourned to January 2, 2004, at 4:00 p.m.at the Harker Center.

CG-Elkhorn then presented their Conceptual Master Plan for the redevelopment of the property formerly occupying the Elkhorn Hotel.

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BOARD MEMBERS PRESENT
John O’Connor, President Ron Davis, Director
Peggy Tierney, Vice President Meredith Carnahan, Director
Fred Williams, Director

BOARD MEMBERS ABSENT
Bill Burnham, Secretary Michael Roos, Treasurer
Sylvia Hartman, Director Bill Voorhees, Director

ALSO PRESENT
Ed Lawson, Association Attorney Marlene Lowry, Manager
Kathi Sisiam, ADC Administrator Elkhorn Owners (per attached)

1. CALL TO ORDER
   John O’Connor called the Reconvened Annual Meeting to order at 4:05 p.m.

    

2. ESTABLISHMENT OF A QUORUM
   A quorum was established with 50% of the SVEA voting membership present, either in person or by proxy. The quorum requirement for this meeting is 25%.

    

3. APPROVAL OF 2002 ANNUAL MEETING MINUTES
   Evie Sauers moved to approve the Minutes of the December 30, 2002 Annual Meeting. Doug Carnahan seconded and the motion passed with all in favor.

    

4. BOARD REPORT
   This report was given at the December 30, 2003 gathering and included information on The Community School, Master Declaration Amendments, Sun Villa development and CG-Elkhorn development.

   SVEA RECONVENED ANNUAL MEETING
   January 2, 2004
   Page 2

    

5. FINANCIAL REPORT
   These reports were given at the December 30, 2003 meeting.

    

6. ELECTION OF BOARD OF DIRECTORS
   John advised the members present that the Board has nominated Ron Davis, Fred Williams and John O’Connor for election to the Board. He then asked if there were other nominations. There were no other nominations and the nominations were closed. Votes were counted and the above nominees were elected to the Board.

   Fred Williams asked to go on record that he would like to change his position, as expressed at the December 30, 2003 Annual Meeting, on the Community School. He is opposed to the Community School.

    

7. OTHER BUSINESS
   There was no other business.

    

8. ADJOURNMENT

Evie Sauers moved to adjourn the meeting. Doug Carnahan seconded and the motion passed unanimously. The meeting adjourned at 4:20 p.m.

Respectfully submitted

William Burnham, Secretary

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