CEDAR HAMMOCK GOLF AND COUNTRY CLUB BOARD OF DIRECTORS REGULAR MEETING MINUTES MARCH 20, 2017

Transcription

1 CEDAR HAMMOCK GOLF AND COUNTRY CLUB BOARD OF DIRECTORS REGULAR MEETING MINUTES MARCH 20, ) CALL TO ORDER President Jacobsen called the meeting to order at 3:00 PM in the Cedar Hammock Clubhouse. a) Establish a quorum Secretary Archer called the roll of the Board of Directors. Present at the meeting were President Jerald Jacobsen, Vice-President Brooke Lawrence, Secretary William Archer, Treasurer Carol Swan and Board Directors Phil Brown, Edward Gargiulo, Norman Hevey, Lawrence Matthews and Michael Zitzow. Secretary Archer advised President Jacobsen that a quorum existed as all nine Board Directors were present and participating in the meeting. Also present at the meeting were General Manager Thomas Read and Committee Representatives Rodney Ahitow, Noe Marinelli, Larry Minamyer, Jean Shaw and Jay Straub. b) Certify proper notice of meeting Secretary Archer advised that proper notice of the meeting was communicated to the Club Membership in accordance with the By-laws of the Cedar Hammock Golf and Country Club. 2) PRESIDENT S REPORT President Jacobsen stated that he was not presenting a Report at this particular meeting. 3) SECRETARY S REPORT Secretary Archer advised that Minutes from the Regular Board Meeting of January 16, 2017 were previously forwarded to all Board Directors. No questions or concerns regarding those Minutes were voiced by any of the Board Directors; therefore a motion to approve those Minutes was requested. Director Matthews made such a motion which was seconded by Director Gargiulo. The Board Members concurred unanimously to accept the Minutes from the Board Meeting of January 16, 2017 as written and submitted to the Board. 4) TREASURER S REPORT Treasurer Swan presented a Treasurer s Report for the 2 months ended February 28, The club s operating profit for the two months ended February 28, 2017 was $265,000 which was $27,000 greater than expected, while expenses were over budget by $4,000. Her Report contained breakdowns of the total revenue net cost of goods sold and the total operating expenses. As of February 28, Cedar Hammock had total cash of $4,716,000 which is an increase of $341,000 from 2016 (Treasurer s Report attached). 5) MANAGEMENT REPORT General Manager Read commented on the various dining activities and golf tournaments held thus far. He advised that payoffs have been received on two foreclosure cases since the February meeting and there are currently five accounts delinquent in the payment of the 2017 Annual Assessment and Cable Fees. These accounts were turned over to the Club Attorney. Year to date there have been 116 renters compared to 123 last year. Page 1

2 General Manager Read then mentioned the drought condition in Southwest Florida and the fact that our course is in good condition. He pointed out actions that are being taken to keep our course in such a condition (Management Report attached). 6) COMMITTEE REPORTS Reports of the various committee meetings are available on line. a. Architectural Review Committee Noe Marinelli, Chair of the Committee, commented on current Committee activities. He stated that everything is going well (See Committee Meeting Report). b. Building and Grounds Committee Jay Straub, Chair of the Committee, commented on current Committee activities. He advised that the Club is in good condition (See Committee Meeting Report). c. Golf Committee Larry Minamyer, Chair of the Committee, stated that there were many small issues but nothing major (See Committee Meeting Report). d. Tennis Committee Rodney Ahitow commented on current Committee activities (See Committee Meeting Report). e. Fitness and Pools Jean Shaw Chair of the Committee commented on current Committee activities (See Committee Meeting Report). 7) UNFINISHED BUSINESS There was no Unfinished Business to consider 8) NEW BUSINESS RESOLUTION Secretary Archer read the following Resolution ANNUAL ASSESSMENT PAYMENT POLICY Whereas, Whereas, Per Cedar Hammock Club Declaration 9.4, an Annual Assessment against each living unit shall be assessed on the first day of each fiscal year, and the current Club Annual Assessment Payment policy requires the Annual Assessment to be paid in full by January 1, and Page 2

3 Whereas, Resolved, the Club Treasurer and management have reviewed the annual cash flow for the Club and determined that offering the Members an opportunity to pay their Annual Assessment in two installments will not create undue risk to the Club by not having funds available to pay the expenses of the Club at any time in the fiscal year, therefore be it that the Board approve a revision to the Current Club Payment policy, allowing Members to pay their Annual Assessment in two installments, with the specifics of the revised policy listed below. 1. The first installment payment of 60% of the Annual Assessment will be due and payable in full by January 1. Failure to pay the first installment of the Annual Assessment by January 1 will incur a Late Fee of 5% of the outstanding charges to be automatically levied upon any assessment in default. If the first installment of 60%is not paid in full by February1, membership privileges will be suspended. The Member will not be allowed access to any of the common areas and the Member will not be allowed to transfer their membership privileges to a Renter. If the Member does not pay the first installment of 60% of the Annual Installment in full by March 1, the account will be turned over to the Club Attorney for further collection proceedings, up to and including foreclosure. 2. The second installment payment of 40% of the Annual Assessment will be due and payable in full by June 1. Failure to pay the second installment of the Annual Assessment by June 1, will incur a Late Fee of 5% of the outstanding charges, AND membership privileges will be suspended immediately. If the second installment of 40% of the Annual Assessment is not paid in full by July 1, the account will be turned over to the Club Attorney for further collection proceedings, up to and including foreclosure. 3. Annual Cable Fees must be paid in full by January 1. Director Hevey made a motion to put the aforementioned Resolution on the floor for discussion. Director Zitzow seconded the motion. Following comments both pro and con from various Directors on the merits of affording Members the opportunity to pay their Annual Assessment in two installments President Jacobsen requested a voice vote on the Resolution. The vote was as follows: Jerald Jacobsen, William Archer, Carol Swan, Phil Brown, Edward Gargiulo, Norman Hevey, Lawrence Matthews and Michael Zitzow all voted in favor of adopting the Resolution. Brooke Lawrence voted against adoption of the Resolution. The Resolution, as presented, was adopted by a vote of 8 Directors in favor of adoption and 1 Director against adoption. 9) PREVIOUSLY TABLED RESOLUTION Director Matthews commented on the Club Dress Code Resolution which was tabled at the January Directors Meeting. Following comments from various Directors President Jacobsen stated that no action was necessary at this time. Management will review the issue and formulate a decision regarding implementation of the revised Club Dress Code. Page 3

4 10) NEXT MEETING DATE - March 27, ) ADJOURNMENT A motion was made and seconded to adjourn the meeting. The Board of Directors concurred unanimously and the meeting was adjourned. Minutes prepared and submitted by Board Secretary William Archer. Page 4

5