Kris Jamtaas called the meeting to order at 10:10 AM. He introduced the Fairfield staff members, then asked if quorum had been established. Lori Pershing verified that quorum had been established based on members present and votes assigned to the Plan Manager.

Kris Jamtaas then invited all present nominees for the Board of Directors to stand and introduce themselves. Mr. McBride and Mrs. Smith briefly introduced themselves to the members present.

New Business

At this time, Kris Jamtaas directed members present to cast their ballots for the election of the new Board Member. Ballots were distributed to the owners during the registration process, and each ballot was previously filled in with the owners' number of voting shares. Kris Jamtaas asked for a volunteer to help tabulate the votes; Mrs. Karen Halfpop volunteered. Lori Pershing and Mrs. Halfpop collected and tabulated the ballots.

Property Management Report

The floor was turned over to Ms. White, who reported a membership base of 4,101 members for the Falls POA and an estimate of reservations for the 1999 season. She also reported an 82% increase in buildings during the 1998 season. Extended check in hours were announced, with weekends open until midnight and weekdays until 10:oo P.M.

Maintenance Update

Brian Keuhn outlined maintenance weeks for the Falls property. He reported that full interior maintenance had been completed, as well as painting all interior trim, replacement of carpet in three buildings and replacement of mattresses in three buildings. He announced that the Falls would be prototyping a "Murphy Bed" in the Studio Units to help create a more spacious unit. He also announced that within the next two weeks, charcoal grills would be installed between each building for the use of the guests.

Open Discussion

Kris Jamtaas opened the floor for discussion and answered questions pertinent to the Association. Mr. Halfpop asked for an update of new development.

Election Results

Adjournment