Boca South Association, Inc.
Meeting Minutes, April 1, 2009

Meeting was called to order at 7:04pm

Board members in attendance were:

Michelle Blouin
Michelle Coggiola
Mark Park
Chet Kaya

Motion made by Michelle Blouin, seconded by Chet Kaya, to approve minutes from March 10th meeting. Motion passes.


ELEVATOR UPDATE:
Attorney has responded with a 4 page addendum to South Elevator contract. It addresses Timely Completion, new payment schedule Warranties, Attorney’s Fees, etc.

Maintenance Contract cannot be terminated without the Association exposing itself to liability unless there is a material breech of the contract by Advanced Elevator. Our best bet would be a buy out.

To date, the company has only received money for the cost of one elevator

Would like to propose a motion that the board proceed with negotiations with Advanced Elevator so that the addendum to the South Elevator contract is signed and work can begin immediately and to possibly negotiate the maintenance contract to be on a yearly basis.

Motion made by Mark Park, seconded by Michelle Blouin, to submit addendum to Advanced Elevator and negotiate terms recommended by our attorney. Motion passes.

CONCRETE RESTORATION UPDATE:
It is the board’s intention to start this project in 2009

As of January 31, 2009, the concrete assessment money has accrued $3,197.81 in interest. This amount will be divided by the number of unit owners who paid their assessment as scheduled (58 owners). At the end of the project, this money will be credited to those owners. Approximately $55 per unit.

We are receiving money from owners who have opted for the loan option. $790,000 has been collected for concrete restoration. $241,000 is the outstanding balance that has not been collected. 8 owners have not paid and have not responded to the letters or phone calls resulting in a $109,000 deficit. 16 of the 24 owners that have not paid the assessment have submitted a payment plan.

Motion made by Michelle Blouin, seconded by Mark Park, to focus efforts on collecting all monies needed to complete the concrete restoration project. Motion passes.
Motion made by Chet Kaya to refund owners the $12K assessment amount if all monies are not collected from all owners by August 2nd. No one seconded the motion. Michelle Blouin voted against motion, Mark Park voted against motion, Michelle Coggiola voted against motion. Motion does not pass.

Reminder to submit copies of the signed, final inspection report and the sliding glass door’s Notice of Acceptance including the wind pressures in order to be eligible for a potential credit towards the cost of the new sliding glass door.

OPERATIONAL MAINTENANCE:
Generic coupons are available. Please fill out the unit and name when sending in payment.

Finance charge for insurance is only $1200. Last year due to bookkeeping issues on both our end and the insurance end, we overpaid. We received a refund check in September and have been told another is on the way in a week’s time for the refund of the Plate Glass Insurance that we cancelled last year.

An FPL energy audit was conducted on 3/5/09 to identify ways to reduce the electric bill. We are replacing the catwalk lighting fixtures to fluorescent bulbs to realize a $2,700 savings in our electric bill.

Lounges can be re-strapped for $48 per lounge or re-painted and re-strapped for $70 a lounge. We will save accordingly to have this work performed at the end of 2009.

We have collapse the reserve accounts to Painting, Paving, and Roof. We were able to pay off the existing IOU plus transfer $12,348.97 from reserve money into the concrete fund

Joe and Evan spent the last week detailing the building/grounds

Report on improvements in scope for 2009

Motion made by Michelle Coggiola, seconded by Michelle Blouin, to adjourn at 8:25pm. Approved.

Respectfully submitted,

Michelle Coggiola
Secretary