The board members in attendance commented favorably on the prospect of all meetings beginning at 3:00 P.M. A vote was taken and passed and thus, all board meeting will be held on the second Tuesday of the month at 3:00P.M.
March- the cash flow for the month of March was checked and approved. Marianne advised the board members of the current process the complex is undergoing in order to comply with the new requirements of HUD. She explained that she has been working with Bank of America as well as the insurance company to provide the bank and its underwriters with the necessary paperwork which will get the approval of HUD who approves all applications for loans or restructuring of loans. This process has been on going for about six weeks and it was necessary to provide much information regarding the Trusts finances, insurance declarations, master deed as well as maps of the area including a flood map even though we are not in a flood zone. Once all the paper work is accepted, the complex will be put on an approved list for loans to homeowners. However, the whole process must be repeated in two years. Marianne reported that she has been advised that all paperwork has been received and will be reviewed for approval by HUD. Marianne advised the board that she will repay money transferred from reserve in March to pay bills before a deposit was made. She will then transfer money from reserve to pay LaFleur paving as this is considered an extraordinary expense not budgeted and therefore need not be repaid to reserve.
A. The June voting procedure was discussed. Candidate recruitment letter will be out by April 30 and any applications and resumes should be returned by May 15. Romeo and Tom are in charge of the election. The ballots will be distributed by May 31 and will be due before the June 8 meeting. A letter from the board explaining the need for all to vote will be included. The letter will explain the proposed capital expenditure for lighting around the circle. In order to approve this capital expenditure, there must be a 75% approval of the Beneficial Interest of the condo owners. This means that all owners must vote in order to achieve this high percentage rate. If less than 75% of the BI voting is accounted for, the vote does not count. It is imperative that all vote either for or against the proposal. It was decided that Beneficial Interest labels would be put on the capital investment ballot and not address labels as noted in last months minutes. Board members felt that if notices were put on the bulletin board reminding residents of the importance of this vote, the number of residents voting would insure that we had 75% response as needed to insure the validity of the vote. The board wants all owners to know how important this vote is and how important it is for all to vote.
Tom has drawn up a cost saving chart which he will explain at the June meeting.
Item #3 on the agenda regarding the proposal for a Master Deed amendment was tabled until October. A second ballot regarding a proposal to eliminate the lease clause in the Master Deed will be held in October
a. The contracts of two vendors, Carlino Landscaping and Waste Management, will be coming up in the November. Andy and Tom will head up the negotiations.
Roger- he is looking into purchasing a new power and reported the price range for industrial washers range from $129 to $8000. His research narrowed the field to three and he decided on one that sells for $879 with free shipping and no tax.
Romeo- brought up the subject of the lime spill on the road. The board thought that Carlino should clean it up. Romeo also talked about the cleanup and mulching that was done and the members agreed that Carlino's men did not work with adequate care and the mulching was sloppy and not done with care to flowers in bloom. Romeo also reported on an article in the paper regarding the new requirements for smoke detectors. Detectors that are 20 feet from a kitchen or bathroom (with steam) must be photoelectric. Any detector that is farther than 20 feet from these areas must contain both photoelectric and ionization capabilities.
Meeting adjourned at 6:00 P.M.
Respectfully submitted by Marianne Williams