Boca South Association, Inc.
Meeting Minutes, April 23, 2008

Meeting was called to order at 7:04 pm

Board members in attendance were:

Anne McBride
Giovanni Comes
Michelle Blouin
Michelle Coggiola

Directors absent
Barbara Keech
Hildy Kerman

Item 1 - Vote to abolish reserves did not pass at Annual Meeting
Motion by Anne Mc Bride to have two options to vote upon:

1. Change the amounts to be funded into the reserves in order to avoid special assessments for every major repair, renovation, and changes in codes or laws. Realistically and accurately funding the Reserves would increase the monthly assessment approximately $87.00 and special assessments could be minimized or eliminated in the future, or

2. Stop additional funding into Reserves as of 2008, retain the Reserves as currently funded but as one pool of money and have special assessments as needed for every repair not covered in the day to day operating budget. There would no longer be Reserves specifically earmarked, i.e., for "Painting," "Elevators," "Roof." We would keep $100,000 as an emergency reserve fund and the current balance of the reserves would be put toward the concrete project repairs. As the emergency reserve fund was used a special assessments would be required to replenish the Reserves back to $100,000.00. This would lower the monthly assessment approximately $57.00 per month. This would require a vote annually

Seconded by Michelle Blouin, approved.

Give owners a 14-day notice, hold a meeting at end of 14 days, (send out a proxy vote to owners). Owners would revote every year. Current balance in reserves would go toward concrete restoration.

Discussion about concrete restoration, painting entire building vs. patch painting, replacing windows and doors with hurricane rated windows and doors. Bank funding may depend on implementation of all suggested building upgrades by A.T. Designs.

Discussion around increasing building security by locking stairwells and laundry room-able to use mailroom key. Investigate security system for new elevators. Need to have no solicitation signs posted.

Item 3
Motion by Anne to have a new rule added to Boca South Rules and Regulations to protect the new elevator cabs. Any person moving in/moving out or moving furniture or large items must notify the property manager and use the protective pads in the elevator cab (provided by the property manager) Failure to comply will result in the owner assuming financial responsibility for any damage to the elevator; they (the owner) will be responsible for any repairs Renters and owners need to be made aware of this rule during the application and interview process. Owners will be financially responsible/accountable for his/her renter. Seconded by Michelle Coggiola, approved.

Motion to adjourn by Anne McBride at 8pm, seconded by Michelle Bouin, motion carried.

Respectfully submitted,

Michelle Coggiola
Secretary