ACTIVITY REPORT

May, 2005

ARCHITECTURAL CONTROL

The commercial and residential review committees considered 96 submissions in May. 85 were approved and 11 were either deferred or disapproved.

33 new homes were approved in the La Villita development.

Construction plans were approved for a 4,784 sq. ft., single story restaurant, located at 500 Walnut Ridge.

Site work was approved for the Portrait Homes town home project in La Villita as well as a 38,295 sq. ft. retail/restaurant project at the NE corner of Royal Lane and MacArthur Boulevard.

Submission fees for May totaled $10,765. $40,585 in fees has been collected year-to-date.

COVENANT ENFORCEMENT

104 issues have been resolved and 483 properties are being pursued.

32 properties were inspected in conjunction with estoppel and resale certificate requests.

COMMON PROPERTY

Installed new central irrigation controllers on O'Connor wall, Story Road, Walnut Hill, Meadow Creek, Hidden Ridge and Sector 3 Park.

Installed new groundcover bed at Pea Patch Lake.

Twelve new trees, mitigated from Story Road, were planted throughout the development.

Cycle three commercial field mowing enforcement was completed.

ALARM MONITORING/PATROL

Participated in Safety Awareness Days, a gathering of safety groups at Nokia.

Took part in the Las Colinas Office Managers quarterly meeting held at the Cannon office building.

For the month of May (as of 05/24/05), dispatch processed 2,278 alarms. Patrol responded to 263 alarms, of which 222 were deemed "false alarms".

COMMUNITY RELATIONS

Participated in the North Texas Commercial Association of Realtors Las Colinas Office Bus Tour.

Hosted the residential liaisons meeting.

Participated in the Las Colinas Office Managers quarterly meeting.

Working with lobbyist and state representatives on legislative bills pertaining to property and homeowner associations. Enlisted help from HOA presidents.

Continuing "Get out the Vote" efforts.

Preparing for Urban Center Property Managers meeting.

FINANCE AND ADMINISTRATION

Collected $5,111,045 (99.22%) of the 2004 assessments as of May 25, 2005.

Collected $853,385 (14.59%) of the 2005 assessments as of May 25, 2005.

Request for Proposals sent out to auditing firms this month.

Vote canvassing and tabulation for S.D. 163 and 131 continue.

Completed 28 statements of accounts, 3 estoppel certificates and 27 resale certificates through May 25^th.

Database maintenance included 19 ownership changes and 123 updates.