Annual Newsletter 2002

From the President:

Fellow homeowners, residents and guests of GRCA:

I am composing this letter on a beautiful autumn afternoon looking over the property. I'm thinking how lucky we are to live here, and reflecting on just how far we've come as an association. For those new residents of our community: on behalf of The Association, I welcome you to Golden Ridge. I trust you have all noticed the tremendous improvements completed and underway throughout the property. The work behind the scenes makes these results possible. The professional management, along with the commitment of your Board of Managers who volunteer their time well beyond our monthly board meetings, protects and increases the values of your investment now and for years to come. It has been a challenging year, at times difficult. Hard decisions have been made; in particular, the necessary increase to homeowners' dues. With the completion of our reserve study we are now, for the first time in the recorded history of our Association, following and implementing a plan to protect and increase our property values well into the future. A copy of this study remains at the GRCA office for homeowners to review.

One of the most pressing issues on the agenda is the water main, which runs through our property. It has been determined that the main should be replaced. Cost estimates have ranged as high as half a million dollars. We are working with the city of Golden and researching our options for an acceptable plan to complete this project. City engineers have been asked to submit a formal proposal or attend a Board meeting to discuss the matter; we will keep you apprised. You are always welcome and I strongly encourage your attendance at upcoming Board meetings. We will be discussing the Annual Meeting agenda, prioritizing pending reserve study items, and replacing common element amenities beyond repair. It has also been proposed we again consider the Judicial Amendment process to improve our Articles of Incorporation that have been problematic, with questionable and antiquated Covenants and By-laws. There are also Board positions needing to be filled this year, all owners are eligible to serve.

Golden Ridge is a large community of 372 units and an estimated more than 900 residents. I again emphasize the importance of working together and being respectful of each other. I have been pleased and encouraged by the many residents who have come forward to get involved in bettering GRCA. Unfortunately there are still residents who by choice or ignorance refuse to follow the rules and regulations set forth in our Covenants and By-laws. We are now posting a summary of those rules and regulations of the greatest concern above the mail boxes in all the buildings. Please be advised this posting along with the copy included serves as notice for all owners, residents and guests of GRCA. Violations will result in immediate action, including fines assessed directly to the accounts of the homeowner. Remember, homeowners: you are indeed responsible for the tenants and residents of your units. It is unfortunate the actions of a few warrant this position. You don't have to like the rules or the Board whose duty is to enforce them. However, we deserve and demand your respect. If not, you should look for another place to live or own. I again thank the vast majority of you, who are not a part of the problem, and contribute positively to make our community a nice place to live.

We have implemented an I.D. system for clubhouse access. All homeowners and residents must register at the front desk in order to use the facility. We have included a form in this newsletter, which needs to be completed and brought to our office with valid I.D. or proof of residency to create your profile. A digital photo will also be taken of all residents of each unit and owners wishing to use the clubhouse. There will be no exceptions. The program has built-in security safeguards to ensure the protection of your information and privacy. This added security measure has many functions to better monitor clubhouse and common area use, along with maintenance tracking. The Board is considering several improvement projects for the clubhouse, including a complete renovation of our fitness center.

As noted in the memo sent in June, GRCA no longer directly employs maintenance staff for the property. We have contracted through our landscape company All Star the services of Leo Banuelos and staff for all scheduled property maintenance. This includes routine day-to-day maintenance that is the responsibility of the Association. It is important to note once again to all our homeowners: items within your unit needing repair are your responsibility. Damage to common areas as a result of neglect or mis-maintenance will result in all costs being billed back to the homeowner. Please take the necessary precautions by performing necessary maintenance within your unit to avoid such problems. We have considered inspections of units to ensure this is being done. This includes your heating zone valve in particular, and plumbing to your toilets, sinks, bathtubs and washing machines. Again, we ask you to accept responsibility as a [homeowner].

With the cost-effective direction the Association has taken in out-sourcing day-to-day maintenance, we have released our cleaning ladies Maria Elena and her daughter Marquisela. I thank these two fine ladies for their years of service to the Association, and wish them well. The cleaning for the common areas is now contracted through the Key People. If you have any questions or concerns regarding the cleaning of common areas anywhere throughout the complex, please contact LCM and Tina Wilhite, our on-site property manager.

The GRCA website found at www.goldenridgecondos.com continues to be a valuable medium for the Association. Thanks to all of you who have communicated with us via E-mail through the website. We encourage others to visit the site and utilize this capability to send us your questions, comments and thoughts on how we can improve our Association. We are working to further develop and improve the website in an effort to make it as functional and user-friendly as possible. Again, your thoughts and ideas are welcome. In lieu of costly monthly newsletters, a new feature to our website will be a summary of each month's Board meeting. A hard copy will be available at the GRCA office for those without Internet access.

A social gathering is being planned to officially dedicate the new patio and fountain on Golden Ridge pond. This will be an excellent opportunity to network and meet your neighbors. Volunteers are needed for this event. Please contact the office if you are interested in helping.

The GRCA Annual Meeting has been set for Thursday December 5th at 7:00 PM in the Golden Ridge clubhouse. In light of the complexities surrounding Golden Ridge these past couple of years, a two-year annual report of the minutes and audited financials will be mailed to you following this year's annual meeting. Minutes or financials from any Board meeting are always available to homeowners upon written request via LCM or The Board.

All legal matters for GRCA with the exception of collections are now being directed to association law specialists Orten & Hindman of Wheat Ridge, Colorado. Lauren Holmes has been assigned as lead attorney representing our interests.

We have renewed our contract with LCM Property Management for the next year. Their professional management practices and knowledgeable service continue to benefit us significantly from the questionable ways of our past. Thanks to Bob and Mike Weiss, Tina Wilhite, Ralph and everyone at LCM, your hard work and the extra attention given to GRCA are greatly appreciated.

In conclusion, I thank the entire Board of Managers for your support, service and dedication to the Association, especially those members who have seen us through difficult times. Special thanks to Leo, Jorge and staff of All Star Landscaping, who are doing an exceptional job overseeing our property maintenance. A heartfelt thank you, again, to Rosemary Cannon, our Property Liaison / Office Manager, and our desk personnel who help oversee the day-to-day activities of GRCA. I would be remiss not to note that Rosemary, one of our renters, often volunteers her time and service to the Association. On numerous occasions she has said to me "I love it here; you know I'll do anything I can to help Golden Ridge." Words we all should consider as members of a community that has come so far, with so much potential. We can only achieve it together.!

Best regards,

James W. Fisher President Golden Ridge Condominium Association