Signant Two Holdings Ltd.

Special Meeting

Via Zoom, Link:

https://us06web.zoom.us/j/88278268594?pwd=QU5oU3pDQ21URXF1cGtBcVgxOGZNdz09 

Thursday, June 9, 2022

7:30 MST

Minutes

1.  a)   Chairing by Sheila, timekeeping by Duane, Zoom link by Vic

     b)   Acceptance of Agenda

     c)   Review Minutes from May 3, 2022

           (Document shared by Sheila via email June 1, 2022) 

           (Revision, if needed, followed by a vote to accept)

     d)    Length of Meeting

     e)    Announcement 

Reminder that all family members present are most welcome to share their ideas during discussions. We highly value input from members of the next generation. Shareholders vote.

2.  Furnace and High Propane Consumption Mystery

     a)  Furnace Use Prior to Replacement

          Background:  At May 3, 2022 meeting, Duane recommended limiting the use of the present furnace over the next 2-3 years until it is replaced, opting to turn furnace off at a certain date in the fall and then rely on the fireplace for heating the cabin unless extreme cold dictates otherwise. Another option mentioned in the interim until new furnace is purchased was space heaters. No group decision was made regarding limiting the use of the furnace.

          Clarify group agreement for adopting the plan to limit furnace use and clarify particulars regarding date and the possibility of using space heaters in the interim, as suggested at May 3/22 meeting.

Plan:  _________________________________________________

     b)  New Furnace Purchase

          i)      Note that second quote was received from Bertelsen’s Plumbing for new furnace with a/c and ducting to bedrooms.

(furnace plus a/c condenser with coil $13,407. Furnace plus a/c with heat pump $15,143. See Carson’s May 16, 2022 email entitled, “Superior Propane Leak Check – Service Work Order.”)

ii)      Clarify group agreement to purchase furnace in 2-3 years’ time with Shareholders sharing the cost at the time of purchase.

      c)  Propane Consumption

          Update:  Superior Propane inspected the tank May 16, 2022 and found no leaks.

           Carson seems to have ruled out an underground leak in the line from the propane tank to the furnace. (See his May 16/22 email entitled, “Superior Propane Leak Check – Service Work Order.”)

Can we conclude that the high propane consumption over the ’21-’22 winter was due to the inefficiency of the furnace and/or cold weather conditions and the fact that the furnace was heating the living/dining room/kitchen half of the cabin, and that no further investigation is needed regarding this issue?

      d)  Furnace Use Winter 2022-2023

            Note:  Hopefully, Wayne Watson will be able to replace the underground main water valve this summer, as planned; however, if he is not able, and we thereby need to leave the underground main water valve open and the furnace on in order to heat the storage area to keep the water pipe from freezing due to the water only being turned off at the valve UNDER the cabin in the storage area, we may decide to close air vents into the cabin and also install a damper in the air duct to the storage, as suggested by Vic at May 3/22 meeting, and any other measures we can think of in order to limit the use of propane next winter should these be the circumstances. We may need to address this situation during fall of 2022.

3.  Financial

     a)  User Fee Exemptions

           Discussion to clarify whether the user fee exemptions for Melanie T and Jennifer are in effect for the entire year or for summer usage, only.

Discussion and Decision:

     b)  Out of Summer User Fee Increase

           Duane suggested at the May 3/22 meeting that we consider raising the out of summer user fee by $5 or $10 per person per night in order to cover expenses for increased consumption of propane and firewood for heating the cabin during those periods. (Note:  If group has agreed not to use the furnace in the fall and winter, the extra consumption would be of firewood, only.)

            Discussion and Decision:

4.  Cool Air Needed in Bedrooms During Summer

      a) Option of having standalone a/c units in bedrooms (Vic)

      b)  Option of having fans in hallway to direct cold air from living room a/c into bedrooms, acknowledging that ceiling fans in bedrooms could not be used at the same time as fans from the hallway.

5.  Flooring

     Discuss plan to begin flooring in main bedroom this season.

     Action Plan:  (regarding responsibility for purchase of product, quantity of product to be purchased and responsibility for installation)    

     :  ________________________________________________

6.  Next Meeting Date (suggestions)

7.  Closing of Meeting (Sheila)