Boca South Association, Inc.
Meeting Minutes, March 9, 2010

Meeting was called to order at 8:05pm

Board members in attendance were:

Michelle Blouin
Michelle Coggiola
Mark Park

Item 1 - Previous Meeting Minutes:

Motion made by Michelle Blouin, seconded by Mark Park, to approve minutes from February 3rd meeting. Motion passes.

Item 2 - Selection of officers:

Giovanni Comes resigned position as president. Bernadette Paris submitted application for V.P. position. Mark Park submitted application as President. Joe Esteve submitted application as a Director.

Motion made by Michelle Blouin, seconded by Michelle Coggiola, to appoint New Board Member positions as follows: Mark Park as President, Bernadette Paris as Vice President, and Joe Esteve as Director. Michelle Blouin and Michelle Coggiola will remain on the Board as Treasurer and Secretary respectively. Motion passes.

Item 3 - Tally of Reserve Votes for 2010:

46 votes were received. 39 of those votes were to waive reserves, 7 to fund the reserves. Due to waiving the reserves, our new monthly assessment will be reduced to $230.

Item 4 - 2010 Operating Budget:

Motion by Michelle Blouin, seconded by Michelle Coggiola, to approve 2010 proposed budget. Motion passes.

Item 5 - New Business:

The Association received a warning from the city that Boca South Condo is not in compliance with the amount of trees required to be on the property. Therefore, 6 Gumbo Limbo trees will be planted to be in compliance. Currently, the Association is in the process of acquiring permits.

$12k in interest has been accrued (before taxes) on collected monies for concrete restoration. This amount will be applied toward concrete restoration.

6 units still have collections and liens filed against them. Next step is foreclosure. 5 of these units owe more on the mortgage then they are worth. Since bank is 1st lien holder, the Association has not pursued the foreclosure process due to the cost of doing so.

Mark Park presented information to be signed by owner and tenant. For those unit owners who have income property, it would state that any failure of the owner to pay any assessment, the association shall have the right to notify the tenant of the existence of the unpaid amount. The tenant will then pay the association the monthly rental due to the association and that amount will be applied to the outstanding assessment amount owed by the landlord.

Motion to adjourn at 8:55pm was made by Mark Park, seconded by Michelle Blouin. Approved.

Respectfully submitted,

Michelle Coggiola