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| THE COLONY NEWS | OCTOBER 2024 | 5 Highlights as presented are a condensed preliminary dra until, aer review and approval by the Board at the next meeting, the minutes become ocial. Changes may occur. A complete copy is available in the HOA Oce. Amendment to e Colony Creeks LLC Tax Status: The Association's CPA firm advised the Board to amend The Colony Creeks LLC Operating Agreement in an effort to better protect the tax status of The Colony HOA by requiring the tax filing for the Colony Creeks LLC to be done separately from the Association's tax filing. Amending of Fraudulent Conveyance Documents: The Association attempted to place a lien on the Huang's Diamond Bar property and it was discovered they had transferred the property to their son, Andrew Huang's name. Legal Counsel filed an ex parte application to amend the judgment to add Andrew as an alter ego to the fraudulent conveyance, but the court recently denied the request as they felt there was not enough evidence against Andrew to add him to the existing case. The court stated the Association could file a separate claim to address the fraudulent conveyance, but the Board does not believe that it is in the Association's best interests to enter another lawsuit. Therefore, the Board recently ruled to lien the golf course for the full amount of attorney fees. This means: 1) Should a new owner purchase the golf course, they will have to pay the Association's attorney fees upon purchasing, OR 2) If the Association owns the golf course, it will pay back the Association once the golf course operation is stabilized and profitable. Golf Course Update: Golf course rounds are up 27.5% from June 2023. Colony resident play is up 50%, which is a sign new people are moving in and playing. Food and Beverage income is up 17%. The biggest golf course expense is the irrigation system. They are focusing on keeping the putting greens green during the stressful summer heat. Walkers/Bikers: Encouraged walkers and bikers to walk/ride against the traffic. It is much safer and allows acknowledgment that you see each other. 2024 Annual Election Ballots: The 2024 Annual Election Ballots being mailed on Aug. 16. Homeowners should expect to receive them within 2-3 business days. The September Board meeting will be held on Sept. 17. Board Meetings: Currently, Board meetings are held on the 3rd Thursday of the month. Next year the Board will consider selecting a new date in September to hold the Annual Election so that it is not held on the same date as a normally-scheduled Board meeting. June 2024 Golf Course Subsidy Request: Approved the June 2024 subsidy of the golf course in the amount of $26,431 due to increased utilities. The Receiver will not make a subsidy request in July. Approval of the May and June 2024 Treasurer's Report: Approved the unaudited May and June 2024 Treasurer's Report as presented. Total Operating and Reserve Liabilities and Equity: $5,543,000 for May and $5,643,000 for June. Approval of 2023-24 Audit and Tax Preparation: Approved the 2023-2024 Audit and Tax Preparation as prepared by Newman CPAs. The Association is in good standing according to GAAP principals. Estate Sales Rule, Final Adoption: Adopted the new Estate Sales rule as amended. Changes will be posted on the HOA Office window and updated in the Association's Rules and Regulations. Amended Article 8 – Fines and Penalties, Final Adoption: Adopted Article 8 – Fines and Penalties rules as amended. Changes will be posted on the HOA Office window and updated in the Association's Rules and Regulations. Environmental Concepts Landscape Maintenance Appreciation Luncheon: Approved ECLM Appreciation Luncheon at a cost of $620.54. The luncheon will be prepared by LAC Members and the Landscape Department staff. Article 4 – Vehicle Access Rule, Tabled: Tabled Article 4 – Vehicle Access Rule for 28-Day Member Comment for further research and discussion. 15.10 Solar Proposed Amendments, 28-Day Member Comment: Approved the amendment to the 15.10 Solar rule for 28-Day Member Comment. A final ruling will be made at the November meeting. 15.6.1 – 15.6.8 Gazebos Arbors Pergolas and Portable Shade Coverage, Tabled: Tabled the amendment to 15.6.1 thru 15.6.8 Gazebos, Arbors, Pergolas and Portable Shade Coverage for further research and discussion. 22.7 House Numbers, 28-Day Member Comment: Approved the amendment to 22.7 House Numbers for 28-Day Member Comment. A final ruling will be made at the November meeting. BOARD OF DIRECTORS MEETING HIGHLIGHTS: AUG. 15, 2024 Continued on next page

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