GASPARILLA CONDOMINIUM ASSOCIATION, INC.

SPECIAL MEMBERS MEETING

DECEMBER 9, 2006

CALL TO ORDER:

The meeting was called to order at 10:05 A.M. by Joseph Farrelly for Gasparilla Condominium Association, Inc., in the cabana at Gasparilla Condominium, Jose Gaspar Drive, Englewood, FL .

DETERMINATION OF A QUORUM:

Nancy Leighton representing Progressive Community Management, Inc. announced that there were forty-one (41) people were present. Seventeen (17) in person, and twenty-four (24) represented by proxy. A total of thirty (30) was required to have a quorum. A quorum was established.

CONFIRMATION OF PROPER MEETING NOTICE:

Affidavits were presented stating that notice had been mailed to all owners in accordance with the Bylaws of the Association and requirements of Florida Statutes. These Proofs of Notice shall be filed with the permanent records as Exhibits A and B and are available for inspection by members.

ELECTION OF CHAIRMAN:

A motion was made and seconded to appoint Joseph Farrelly chairman for the meeting. Motion passed.

BUSINESS:

Chair Joseph Farrelly read two letters addressed to the Board from Pat Yovaish and Wilma Katz. Both letters were sent with regard to the currently proposed amendment change that was to have been voted on at this meeting. Ms. Yovaish and Ms. Katz pointed out the change is to an incorrect Article  as the Articles were changed back in 1995. Bill Sutton of PCM thanked both owners for their astute knowledge of the documents and reported that the amendment change is now being handled by Atty. VanDer Wulf and will be ready for the January 23, 2007 Annual Meeting.

VOTE ON CARRY OVER - A motion was made and seconded that any excess of Membership Income over Membership Expenses for the year ended December 31, 2006 shall be applied against subsequent year member’s assessments. Forty Six (46) voted for the motion and zero (0) voted against the motion.  Motion passed.

VOTE ON CROSS UTILIZATION - A motion was made and seconded to give the Board of directors the authority during the year 2007 to use all reserve funds, those accumulated to date and those accumulated during the year 2007, for any other line item set forth in the year 2007 Reserve. Forty-three (43) voted for the motion and two (2) voted against the motion. Motion passed.

VOTE ON STATUTORY FINANCIAL REPORTING REQUIREMENTS - A motion was made and seconded to waive the requirement for a compiled, reviewed, audited or cash receipts and cash disbursements financial statement as required by 718 of the Florida Statutes and provide in lieu thereof a financial report as available monthly for our Board of directors. Forty Three (43) voted for the motion and one (1) voted against. Motion passed.

ADJOURNMENT:

There being no further business, the meeting was adjourned at 10:15 a.m.

Nancy Leighton,

Acting Secretary