January 20, 2016, 2015 Board of Directors’ Meeting
President Peter Grant called the meeting to order at 10:02am. Board members in attendance were Peter Grant, Jay Anderson, Tom Granville and Robert Field. Management was represented and an Owner was present. The following actions took place:

• The Board approved the minutes of the September 23, 2015 Board of Directors’ Meeting and the December 3, 2015 Special Board Meeting.
• An overview of Front Desk Operations, Maintenance, Activities, Landscaping, Going Green Efforts, Safety, Guest Satisfaction Scores, and Fiscal Performance was presented.
• Dorothy Sieckman, Director of Resort Construction and Facilities, reviewed current and future projects including the clubhouse deck, courtyard resurface, pathway replacement and waterproofing.
• The Board approved the 2016 reserve expenditures in an amount not to exceed $350,006 for Elevator Work, Deck Reconstruction, Garage Concrete, Property Signage and Bridge Slope Access.
• Peter Grant updated the Board on KSL and the access point relocation.

March 23, 2016 Board of Directors’ Meeting
President Peter Grant called the meeting to order at 10:05am. Board members in attendance were Peter Grant, Jay Anderson, Tom Granville, Deborah McNeal and Robert Field. Management was represented and an Owner was present.

• The Board approved the minutes of the January 20, 2016, Board of Directors’ Meeting.
• An overview of Front Desk Operations, Maintenance, Activities, Landscaping, Going Green Efforts, Safety, Guest Satisfaction Scores, and Fiscal Performance was presented.
• An update on the current dealings with Squaw Valley Ski Holdings and Pad-2 was provided. The Board authorized the reserve expenditure to retain legal advice relating to Squaw Valley Ski Holdings matters, not to exceed $6,000.

April 28, 2016 Special Meeting
President Peter Grant called the meeting to order at 11:34am PDT. Board members in attendance were Peter Grant, Jay Anderson, Tom Granville, Deborah McNeal and Robert Field. Management was also present.

• The Board recessed the Regular Session and entered into Executive Session at 11:30am to discuss SVRE/Pad-2 and reconvened the Regular Session at 12:20pm.
• A Position Statement addressing the development plans by Squaw Valley Real Estate for the development of Olympic Valley was presented. The enhancements and improvements which encourage year-round travel will benefit the resort.
• The Board passed the following resolutions in Executive Session:
  - Approved and adopted the Position Statement as presented.
  - Authorized President Peter Grant to represent the Association on behalf of the Board.

June 9, 2016 Board of Directors’ Meeting
President Peter Grant called the meeting to order at 9:32am. Board members in attendance were Peter Grant, Jay Anderson, Tom Granville, Deborah McNeal and Robert Field.

• The Board approved the minutes of the March 23, 2016 Board of Directors’ Meeting and the April 28, 2016 Special Meeting.
• The Board reviewed the insurance policies currently in place at the resort.
• An overview of Front Desk Operations, Maintenance, Activities, Landscaping, Going Green Efforts, Safety, Guest Satisfaction Scores, and Fiscal Performance was presented.
• The Board ratified the reserve expenditures, sent via email on April 6, 2016, for the addition of $17,600 for Dining Room Chairs – Reupholster, not to exceed $37,600.
• The Board ratified the reserve expenditures, sent via email on April 18, 2016, for the addition of $117,000 for Concrete – Garage, not to exceed $217,000.
• The Board ratified the reserve expenditures, sent via email on May 12, 2106, for Engineer Project Review and Plumbing Repairs, not to exceed $84,517.
• The Board approved renewal of the Master Points and Weeks Affiliation Agreement with RCI for a three year term through June 30, 2019 and authorized President Peter Grant to execute actions as deemed necessary and advisable.

June 11, 2016 Annual Owners Meeting
Jay Anderson called the meeting to order at 10am.

• The minutes of the June 6, 2015 Annual Owners’ Meeting were approved.
• Nick Batliner introduced resort Associates and provided a presentation of operations including the Front Office, Housekeeping, Maintenance and Activities departments, Social Media, “Going Green” efforts, 2015 Fiscal Performance, Resort Upgrades, Improvements and Future Projects and Guest Satisfaction Scores. Red Wolf Squaw achieved Gold Crown status with RCI for the 2015/2016 season.
• James Tennery recognized Nick for winning the 2015 BE EPIC Champion of the Year and discussed Grand Pacific Vacation Services, the Grand Opportunity Program, and GPR Cares.
• Peter Grant shared the future plans for development in Squaw Valley.
• The following was discussed regarding Squaw Valley development and SVRE/Pad II: Public review of the Environmental Impact Report (EIR), plans for the land on the west side of the resort, the long-term life of Pad II, the time estimate for development of Pad II, concern for the lack of attractions to fill all the proposed buildings and how to contact the Board about the project.
• Incumbents Peter Grant and Robert Field were elected to the Board of Directors for a two-year term.
• The winner of the proxy email contest was Marie Huff.

Meeting Dates

• September 21, 2016 – 10am PDT, Red Wolf Lodge
• January 18, 2017 – 10am PST, Red Wolf Lodge
• March 22, 2017 – 10am PDT, Red Wolf Lodge
• June 8, 2017 – 9:30am PDT, Red Wolf Lodge
• June 10, 2017 – 10:30am PDT, Red Wolf Lodge at Squaw Valley Clubhouse, Annual Owners’ Meeting (followed by lunch and Owner Expo)

Note: If you wish to have a copy of the Minutes for your records, you may request a copy via email to gpvspecialist@gpresorts.com or send your request along with a ($.63) stamped self-addressed envelope to Grand Pacific Resort Services, L.P., 5900 Pasteur Court, Suite 200, Carlsbad, CA 92008, Attn: Rosalie McDonnough. Owners are welcome to attend any regular Board meeting. Board meeting agendas are posted at the resort four days prior to the meeting. If you would like a copy of the final agenda for any Board meeting mailed to you, please contact your Resort Manager prior to the meeting. Since meeting times and location are subject to change, please contact your Resort Manager in advance to reconfirm the exact time and location.