November 18, 2015
A regular meeting of the Board of Administration of Mayan Towers Condominium II, Inc. was held on Wednesday, November 18, 2015 at 10:30 A.M in the Clubhouse at 145 S. Ocean Avenue, Palm Beach Shores, Florida.
The Meeting was called to order at 10:30 A.M by Richard Dragone.
Roll Call
Present:
Larry Mennella, Tony Traversa , Ed Lehner, Clyde Keck, Peter Fenner, Bill Loftus , Richard Dragone and Jeff Franklin
Absent
Other Present
Marie & Gene Price, Jovanna Pozza. Chuck Kasbee, Kevin & Joyce Murphy, Joe Gibbons, Kay Bresnahan, Lucy Diamond,Emilo Martinez, Shelly Orrill, Robert Button, Dorthy Haimes, Jim Ditello, Eileen & Bob Dawnson, Hilina Vidiaic, Mereddith &Gil D’Andrea, Egon Beerman, Frank Wallmueller and George Leferman
Approval of Minutes
Jeff Franklin made the motion to approve the meeting minutes of October 21, 2015. Larry Mennella second motion to approve the minutes. Vote 8/0
Reports of Officers
PresidenT Richard Dragone reported in new business.
VICE PRESIDENT Bill Loftus reported in new business
Secretary Ed Lehner had nothing to report.
TREASURER Peter Fenner reported the budget was approved by the board for a vote to waive the statutory reserves. He understood that questions are being asked about the reserves and why the board is requesting to waive the statutory reserves for the building. The statutory reserve that is mandatory is $145,000, to his knowledge it has never been fully funded. When he started on the board it was a $5000 amount that was being put into the reserves. In 2015 we budgeted $50,000 to go into the reserves and for the year 2016 we budgeted 100,000. So the alternative is to either fully fund the reserves or be assessed if anything is to arise. We have not had an assessment about 10 years ago no one really likes assessment. Another alternative is to increase the maintenance fees by fully funding the reserves and again no one likes that. We are working hard to get to the amount to fully fund the reserves and hopefully for the year 2017 we could fully fund the reserves as we are at $100,000 funding the reserves. With this budget the top six front of the building will be paying an increase of a max of three dollars per unit and the others will go down in their maintenance. At the present time we have $ 230,000.00 in our reserve account. Peter also stated that the monies that has been collected for the renovation of the clubhouse is all account for and has not been used.
Reports of Committees
Budget and Finance Richard Dragone had nothing to report.
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Sales and Leases Committee Bill Loftus had nothing to report.
Maintenance Committee Bill Loftus reported in new business.
Insurance Committee Richard Dragone reported had nothing to report.
Personnel Committee
Landscaping Committee Larry Mennella report everything is going well.
Rules and Regulation Committee Richard Dragone had nothing to report.
Enforcement Tony Traversa reported everything was fine.
Television Committee Al D’Andrea was absent.
New Business
Richard reported on the clubhouse (getting actual itemized cost) that the attorney advises him to get actual cost and that it would be put out to a proper vote.
Bill reported the quotes on the Sun deck and Jeff made the motion that we start the first of May 2016 and we pick a contractor and proceed with the work. Peter Fenner seconded the motion. Vote 8/0 Richard stated that we will keep everyone update on who was elected to do the work.
Bill reported the additional repair work from existing concrete contract we have with Paradigm Construction and that it will be completed next week.
New monthly maintenance rates was reported in the treasurers report.
A vote from the Board to authorize members calling into the monthly meetings. The motion was made that we have a better system and also with the guidelines from the attorney. Vote 5 yes /3 No
Old Business
Comments and Questions
All comments, concerns and questions were answered and addressed by the board.
Adjournment
Larry Mennella made the motion to adjourn. Peter Fenner seconded the motion. Vote: 8/0
Meeting adjourned at 11:25 A.M.
Respectfully Submitted,
Mayan Towers Condominium II, Inc.
Richard Dragone, President