CONDOMINIUM ASSOCIATION, INC.
MINUTES OF MEETING OF THE BOARD OF DIRECTORS
The meeting of the Board of Directors was held on November 8, 2005, at the Association Clubhouse. Notice of the meeting was posted at various locations within the common property. A copy is attached.
The meeting was called to order by Carolyn Sudar, President at 7:00 p.m.
Present were: Carolyn Sudar
Unit Owners present: Sign-in sheet attached
Brian Wallace requested to speak at the meeting.
Minutes of the 09-21-05 Board meeting:
Motion to approve as posted: Ray Biggart Second: Ardis Rovelstad Unanimous approval.
Ray Biggart requested that future minutes reflect an excused absences when appropriate, instead of not present.
Treasure Ardis Rovelstad reported that as of the end of October maintenance fees have been coming in on time, our reserve are fully funded with an amount of $163,982.83. Our interest income on the reserves is adequate.
Motion to approve: Ardis Rovelstad Second: Ray Biggart Unanimous approval
Approve sale of 3304:
The sales price for unit 3304 was $105,510.00 All background checks and interview have been completed.
Motion to approve: Ray Biggart Second: Steve Leonard Unanimous approval
Approve rental of 1304:
All background checks and interview have been completed.
Motion to approve: Ardis Rovelstad Second: Gerry Murphy Unanimous approval
Brian Wallace Letter:
A letter was received from Brian Wallace (copy attached) questioning the road paving and the carport painting. Brian spoke on the cracking in the road after three (3) months and the sinking hole around the drain. Brian also stated that not enough base fill was put in the ground after replacing the pipe.
Brian then spoke to the painting of the carports and the rust that is already visible on the carports. He would like the carport roofs repainted or have the Board contact the manufacture of the Paint Company since the paint has a fifteen (15) year warranty.
In response to Brian comments, President Sudar read the two (2) letters that were received form All Phase Paving explaining there position on the project. (Copy of letters attached).
Vice President Ray Biggart reported on the Owners Survey that was previously approved by the Board. This survey will be sent to all unit owners. Ray will also prepare a cover letter with instruction as to how the survey should be filled out. Discussion was held on whether or not the unit owner’s name or unit number should be included on the survey. It was decided that the survey would be anonymous, however, it will be put on colored paper and a return envelope will also be sent. The survey will be mailed with the assessment fee coupons.
Proposed Budget 2006:
President Carolyn Sudar reported that due to the insurance premium almost doubling this year the assessment fees had to be increased by twenty-five dollars ($25.00) a month. The new assessment fees will be one hundred and seventy-five dollars ($175.00). Carolyn also reported that she received three (3) quotes from our independent insurance agent, one for sixty thousand dollars ($60,000.00), one for seventy-five thousand dollars ($75,000.00) and one for ninety thousand dollars (90,000.00). With the sixty thousand dollar ($60,000.00) policy each building is insured for two hundred and twenty-six thousand dollars (226,000.00), with a five thousand dollar ($5,000.00) deductible or a five percent (5%) named storm deductible.
Motion to approve the 2006 budget: Ardis Rovelstad Second: Ray Biggart, motion carried with one (1) decent.
Motion to adjourn: Ray Biggart Second: Ardis Rovelstad Adjourned 7:23 P.M.