GASPARILLA CONDOMINIUM ASSOCIATION, INC.
CALL TO ORDER: President, Tom Voss, called the meeting to order at 10:01 a.m., at the Gasparilla Pool Cabana, 160 Jose Gaspar Drive, Englewood, Florida, the location specified in the meeting notice.
DETERMINATION OF A QUORUM: A quorum of the Board was established with all five (5) directors in attendance: Tom Voss, President; Gary Payne, Vice President; Dave Hubbard, Treasurer; Joyce Kendall, Secretary and Ron Hook, Director at Large. Corrine C. Malopolski of Antares Group, Inc. was also present.
CONFIRMATION OF PROPER MEETING NOTICE: Joyce Kendall confirmed that the appropriate notice had been posted in accordance with the Association’s documents. Management presented a notarized affidavit that the meeting notice had been mailed to all owners in compliance with Florida Statutes and Association ByLaws.
DISCUSS/APPROVE SPECIAL ASSESSMENT FOR INSURANCE: Dave Hubbard reiterated that the 2008 approved budget included an estimated special assessment to pay the insurance premiums. The Board has received a recent communication from their insurance agent that stated during Citizens recent review of the Association’s wind policy, triggered by the MIT report submission, it was realized that the buildings are of “joisted masonry” not “frame” construction resulting in a refund of $11,112. With this refund, the special assessment amount can be decreased from $800/unit to $600/unit.
Members are encouraged to contact their private insurance company to determine if the “joisted masonry” will also reduce their premium.
Motion by Dave Hubbard to approve a special assessment totaling $35,400, at a per unit cost of $600, with the anticipation of receiving the $11,112 refund, to replace the reserve funds borrowed to pay the Association’s insurance policy. The assessment will be payable in two $300 installments due May 1st and June 1st. If the installment payments are not received by the May 15th and June 15th, respectively, late fees and interest will be applied. Seconded by Gary Payne. Jim McMahon asked if the Board would consider adding the insurance assessment to the reserve assessment to be paid quarterly, since he feels there is no hurry to repay the reserves. Dave stated the money that was taken out of reserves is no longer earning interest and the emphasis is on replacing those funds as soon as possible. There being no further discussion, the President called for a vote: Tom Voss/Yes, Gary Payne/Yes, Dave Hubbard/Yes, Joyce Kendall/Yes and Ron Hook/Yes. Motion passed.
ADJOURNMENT: There being no further business to properly come before the Board at this meeting, motion by Gary Payne to adjourn at 10:07 a.m. Seconded by Dave Hubbard. All yes by voice vote. Motion passed.
Respectfully submitted,
Joyce Kendall, Secretary
JK/ccm