MINUTES OF REGULAR MEETING OF BOARD OF DIRECTORS OF



MINUTES OF REGULAR MEETING OF BOARD OF DIRECTORS OF

SUMMERHOUSE BEACH & RACQUET CLUB

CONDOMINIUM ASSOCIATION, INC.

October 18, 2008

The Board of Directors of Summerhouse Beach & Racquet Club Condominium Association, Inc. held their regular meeting at 10:45 AM on Saturday October 18, 2008 at the offices of the Association. President Norm Breen called the meeting to order. Secretary Carol Vaneman took role call and declared a quorum.

Directors present were:

Phase I Don Trefry, Marilyn Helman, Maurice Brown

Phase II Norm Breen, Don Coker

Phase III Bob Ford, Harry Ballance

Phase IV Bob Mericle, Bob Wheeler, Carol Vaneman

Director Steve Tate (Phase III) was absent. A number of owners were present at the meeting.

Don Coker asked that the August 16, 2008 minutes be corrected to show that he voted no on the motion, under the Finance Committee report, page 2, (1) to establish a separate safety reserve fund by an Owner’s vote at the annual Owners’ meeting, (2) to ‘transfer money from reserves to recommended new safety reserve fund up to the required amount subject to any reductions from other sources’ and (3) to increase the monthly maintenance fee by approximately $8.00 per month per unit to pay back the funds to the reserve accounts until the reserve accounts are completely repaid. The minutes will be corrected to show the motion passed with a majority vote of 9 to 2. Mike Langton and Don Coker voted ‘ no’. Voting ‘yes’ were Don Trefry, Marilyn Helman, Bill Carlson, Norm Breen, Steve Tate, Bob Ford, Bob Wheeler, Bob Mericle, Carol Vaneman.

A motion by Carol Vaneman to accept the corrected August 16, 2008 minutes for the Board of Directors was seconded and passed unanimously.

Officers’ Reports

President. Norm Breen said two Board votes were conducted via email after the August meeting. See attached emails. That business will be addressed for the purpose of including it into the minutes. Mr. Breen made a motion, seconded by Bob Ford, to accept the change cost for the pool repairs passed unanimously. Mr. Breen made a motion, seconded by Bob Wheeler, to use available interest to add to the pool reserves for Phases I, II, III, and IV, to supplement the current funds due to an approved change in pricing, resulting in the pool repairs becoming fully funded passed unanimously.

A motion by Bob Wheeler, seconded by Bob Ford, to amend the agenda to address to vacancies on the Board passed unanimously. Mr. Breen submitted the letter of resignation from Director Steve Tate, Phase III, (see attached) and announced that Wendy Crothers has come forward to say that she would like consideration for appointment to the Board. A motion by Marilyn Helman, seconded by Bob Ford, to nominate Wendy Crothers to fill the un-expired term of Mr. Tate passed unanimously. Ms. Crothers received a round of applause and was welcomed to the Board. Mr. Breen announced that no Phase II candidates came forward for the election prior to the deadline. Since that time two candidates have come forward to be considered for appointment to the Board. Anne Zickus and Richard Harmon each introduced themselves and presented a short verbal resume. Mr. Harmon won the secret ballot with a majority of votes. Mr. Harmon received a round of applause and was welcomed to the Board.

Vice President. Bob Ford. No report

Treasurer. Don Coker. See attached financial reports. A motion by Don Coker, seconded by Bob Wheeler, to accept the financial statements as of 9/30/08 passed unanimously. The final 2009 budget will be presented at the December meeting.

Secretary. Carol Vaneman. No report.

General Manager. Keith Jones. See attached Manager’s report.

Rental Report. Keith Jones. No report.

Committee Reports

Landscape. Garry Vaneman. No report.

Architectural/Structural. No report.

Bylaws/Documents. Bob Wheeler. No report.

Long Range Planning Committee/Reserve Study. Bob Wheeler. No report.

Finance Committee. Bob Ford. See attached. A discussion was held about Summerhouse funds in Bank of America exceeding FDIC protection. Bob Wheeler made a motion, seconded by Don Coker, to take the $300,000 needed for installation of the fire safety equipment and emergency lighting and move it to a non-interest bearing account at Bank of America. After a discussion Bob Wheeler made a motion to amend his original motion to state “move $75,000 from the roofing reserve for each Phase I, II, III, and IV into the new fire safety reserve account, which will then constitute the $300,000 needed for the fire safety compliance, which will be placed in a non-interest bearing checking account at Bank of America”. The motion was seconded by Bob Ford and passed unanimously. A motion by Bob Ford, seconded by Bob Wheeler, to move the reserve money for each Phase: I, II, III, and IV, into four different banks, one for each Phase, passed unanimously. A motion by Don Coker, seconded by Harry Balance, to keep the Finance Committee intact and accept responsibility for analyzing how much money is in each Phase and recommending what banks to put the money in and the type of account, to maximize the return for the owners and to protect the Association. This will be acted before October 31, 2008. The motion passed unanimously. The final recommendations will be presented at the December meeting.

Ad Hoc Committee

General Manager’s Contract. Forward to December meeting. A motion by Don Coker, seconded by Marilyn Helman, to search for a second condominium law attorney passed unanimously. Norm Breen accepted responsibility for the search.

Old Business

Fire Alarms/Emergency Lighting. Keith was asked to investigate wireless fire alarm availability.

Comcast proposal. See attached Comcast proposal and annual owners’ meeting President’s report.

Website redesign. See GM Report.

SRI Property Lease. Mr. Breen presented the “Document of Understanding” (see attached) that will be kept in the Policies and Procedure Manuals for both organizations and will eliminate the need for an annual rental lease between SRI and the Association. A motion by Marilyn, seconded by Bob Wheeler, to accept the “Document of Understanding passed unanimously.

Pool Repairs/Improvements. See GM report.

Office Improvements. See GM report.

Bank accounts and FDIC limits. See Finance Committee report.

New Business

“Mystery leaks”. Mr. Breen said the “mystery leaks” tend to occur after storms and the cause cannot be found. A Project has been started to repair the hairline cracks. Mr. Breen advised owners to repair or replace rotted doorframes and to replace original windows in an effort to avoid water leaks. A motion by Don Coker to nominate Harry Balance as Chairperson of the Architectural/Structural Committee was seconded and passed unanimously.

Building #1 roof bids. See attached bids. First, a structural engineer is scheduled to study the roof of building #1 to determine if there is a structural problem.

Tennis Court lighting. Mr. Breen announced the Summerhouse maintenance staff would undertake a project to upgrade the tennis court and racquetball court lighting.

SRI BOD appointments. A motion by Don Coker, seconded by Maurice Brown, to seat Anne Zickus, Pat Coker, Bob Mericle and Bob Wheeler for one-year terms on the SRI Board passed unanimously. The fifth member of the SRI Board is the Real Estate Broker.

Action Items

Board attendance/Absenteeism. Bob Ford agreed to study this issue, research the Condo Documents and to make a recommendation at the December meeting.

Black marks on stairs and walkways. Mr. Jones reported that, after investigation, the marks are from the asphalt in the parking lots and there is no way to prevent or get rid of them.

Review resolutions passed during the past year. See attached. The resolutions were reviewed. Mr. Breen asked the Board to review the resolutions from present back to 2001 and be prepared to discuss them at the December meeting.

Financials for 12/31/07. A motion by Don Coker to approve the financial statement of 12/31/07 was seconded and passed unanimously.

Insurance premium change. Bob Mericle will report at the December meeting.

Rental report added to agenda. Completed.

Letter to owners seeking nominees for SRI board. Completed.

Investigate different qualities of pool furniture cushions. Completed.

Communications.

Morgan letter. See attached emails. Mr. Breen said that Summerhouse filed a claim with our insurance company as requested by Ms. Morgan. The insurance claim was denied because they determined the windows to be the cause of the problem in unit 463.

Hemingway communication. After receiving the Hemingway receipts, Summerhouse will submit a claim to our insurance for her damages. It was noted that both Ms. Morgan and Ms. Hemingway refuse to file insurance claims with their respective insurance companies.

The next meeting is scheduled for December 6, 2008 at 9:00 AM. The meeting was adjourned at 1:00 PM.

Action Items for the General Manager

• Add rental report to each Association agenda.

• Investigate wireless fire alarm availability.

• Place “Document of Understanding” in P&P manuals for SRI and the Association.

• Structural engineer report-roof building #1.

• Communicate to owners the importance of avoiding storm related water leaks, such as replacing rotted door frames, replacing original windows, etc.

• Upgrade tennis court and racquetball court lighting.

Other Action Items

• All BOD members review resolutions passed 2001 to the present to discuss at Dec. meeting.

• GM contract/ad hoc committee.

• B. Mericle to investigate insurance premium change with installation of fire safety.

• BOD attendance-Bob Ford to study and report.

• Hemingway insurance issue.

• Ms. Vaneman to correct the August 16, 2008 minutes.

• Move $75,000 from the roofing reserve for each Phase into a non-interest bearing checking account at BOA to pay for the fire safety compliance.

• Move the reserve money for each Phase into four different banks.

• Finance Committee to analyze and make recommendation prior to October 31, 2008 regarding what banks and type of account to move Association funds.

• Norm Breen to search for a second condo law attorney.

Respectfully submitted,

Carol Vaneman, Secretary

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