Boca South Association, Inc. Meeting Minutes, June 21, 2008

Meeting was called to order at 11:25 am

Board members in attendance were:

Anne McBride
Michelle Blouin
Michelle Coggiola
Hildy Kerman (via telephone)

Absent:
Giovanni Comes
Barbara Keech

Item 1-

Ballots received. Owners had two options to vote upon:
1. Continue funding reserves, or
2. Abolish reserves and keep $100, 000 emergency reserve for unspecified reasons-replenish as needed

Received 56 total ballots-4 ballots for option 1, 52 ballots for option 2.
Majority vote to abolish reserves and keep $100, 000 emergency reserve for unspecified reasons-replenish as needed, received. Discussion of having $100, 000 earmarked for roof, painting, or paving.

Monthly association fees will decrease by $45. New monthly assessment will be $256.98, which will be effective July 1, 2008.

Item 2-

Concrete Restoration:

Concrete restoration contract will be signed once the money is raised to start the project.

Start date of project can start within 2 weeks of signed contract. Owners will be given notice of when concrete work will be started on their balconies.

Motion by Anne McBride to pass special assessment for concrete restoration project. Assessment (based on bid from Florida’s Choice) will be spread out over a 6-month period, with 50% of the assessment paid in the first two months. Total assessment $17,400.

August 1st $4350
September 1st $4350
October 1st $2175
November 1st $2175
December 1st $2175
January 1st $2175

Motion seconded by Michelle Blouin, approved.

New business:

Mark Park submitted letter of intent to fill vacant board position. 2 board members, Michelle Blouin and Michelle Coggiola, approved having Mark added to the board and 2 board members, Anne McBride and Hildy Kerman declined having Mark added to the board. The vote was divided equally between board members, therefore adding Mark to the board did not pass.

Motion to adjourn by Anne McBride at 12:45pm, seconded by Michelle Blouin, motion carried.

Respectfully submitted,

Michelle Coggiola
Secretary

Secretary