REGENCY TOWERS CONDOMINIUM ASSOCIATION, INC. MINUTES OF THE BOARD OF DIRECTORS MEETING March 17, 2012

Transcription

1 REGENCY TOWERS CONDOMINIUM ASSOCIATION, INC. MINUTES OF THE BOARD OF DIRECTORS MEETING March 17, 2012 The regular meeting of the Board of Directors of Regency Towers Condominium Association, Inc. was held at 10:00 on March 17, 2012 at the Santa Rosa Island Authority building, One Via De Luna Drive, Pensacola Beach, FL CALL TO ORDER: The meeting was called to order by Bob Wood. PROOF OF NOTICE OF MEETING: Notice of the meeting was ed to Directors and Owners and posted at the office of Regency Towers. BOARD MEMBERS PRESENT: Present at the meeting were Bob Wood (telephonically), Steve Lashley (telephonically), Chuck Zwerg, Janet Miller and Ken Slater. Also present was Manager Robert Lecaroz and Secretary Sally Wood (telephonically). A quorum was established. APPROVAL OF MINUTES: Ken Slater moved to approve the minutes of the February 17 and March 8 special meetings of the board of directors. Janet Miller seconded and the motion was adopted Chuck Zwerg moved to approve the minutes of the February 18 regular meeting of the board. Ken Slater seconded and the motion passed TREASURER S REPORT: Janet Miller presented the treasurer s report. There was no discussion. Please see full report below. MANAGER S REPORT: Robert Lecaroz presented his report. Please see the full report below. There were no changes in the status of the two foreclosure units. Ken Slater moved to accept Robert s recommendation for replacement of the air handler unit in the manager s unit at a cost of $1,795. Three bids were obtained and the funds for this expense will come from the Reserves. Chuck Zwerg seconded. The motion was adopted COMMITTEE REPORTS: o Social Committee Danny Stults stated that there would be a wine and cheese social tonight honoring the Regency snowbirds. The committee is working on plans for the annual meeting. o Clubhouse Rules Committee Janet Miller presented a synopsis of the rules that the committee agreed upon at their meeting yesterday. Janet thanked the committee for their time and attention to this project. There was discussion. This subject will be on the May agenda. The draft will be posted on the website.

2 o Painting and Restoration Committee Robert Lecaroz presented a report from Wayne Holt and Bill Lay. The next step in this project is to contract with a building engineer for an inspection. Ken Slater moved to accept the committee s recommendation to enter into a contract to secure a detailed building survey and investigation with Thompson Engineering for the proposed $7,300. Janet Miller seconded. The motion was adopted Wayne forwarded the following additional comments: I believe this will provide a valuable look into the integrity of our building envelope, result in an engineering document from registered PE, and provide a good check of conditions mentioned in our cursory report from Gulf Coast Services. Development of a detailed Scope of Work is a separate cost after the study is complete. Professional project oversight is also a separate cost after the SOW is complete. OLD BUSINESS: o Clubhouse construction update Robert Lecaroz updated the board and owners on the current status. Chuck Zwerg moved to approve the payment application from Southeastern Construction in the amount of $78, which had been approved by Scott Holland. Janet Miller seconded and the motion carried NEW BUSINESS: o 2011 Financial Audit After review by the board, Ken Slater moved to approve the 2011 audit. Chuck Zwerg seconded and the motion was adopted o Main Security Gate Legal Agreement The Villas on the Gulf board meeting is Monday and the most recent agreement is with their attorney at this time. Robert asked that the board approve the agreement in principle with a cap of $1000 in possible approved changes. This is an effort to keep the construction completion date of May. Janet Miller moved to approve the agreement subject to the condition stated above. Chuck Zwerg seconded and the motion was adopted o Beach Property for Sale-Discussion There is a lot for sale immediately next to the Regency fence. Chuck Zwerg initially asked that this be added to the agenda but stated that after research, he doesn t feel it is something to proceed with and asked to cancel the discussion item. OWNERS TIME: Owners were given an opportunity to add comments or concerns. No action was required. ADJOURNMENT: There being no further business, the meeting was adjourned. Respectfully submitted, Sally Wood, Secretary

3 REGENCY TOWERS CONDOMINIUM ASSOCIATION TREASURER S REPORT March 2012 As of February 29, we had $128, in Operating Funds, $516, in Reserves/Contingency Funds, and $675, in Hurricane accounts. This gives us a total checking/savings of $1,320, Our total operating income in February was $46, Total operating expenses for the month were $48, Hurricane expenses were $58, A copy of the February balance sheet will be posted on our web site. I have reviewed the financial records in the RTCA office. Respectfully submitted, Janet Miller, Treasurer.

4 Regency Towers Manager s Report March 17, 2012 Robert Lecaroz - Association Manager Administrative & Financial: Delinquent Assessments and Liens 805 East Notice of intent to file claim of lien was sent certified mail and received back on April 17, A claim of lien has been recorded. The hearing to finalize the bankruptcy was scheduled for February 11, 2010, after which the mortgage company can proceed with the foreclosure. On May 10, 2010 an order terminating the automatic stay was issued. On October 8 th, 2010 a notice of intent to foreclose was filed by the bank. On May 4, 2011, a status hearing was held and the bank was ordered to proceed with the foreclosure now that the bankruptcy has been settled. The Association is now waiting to be served notice of the foreclosure hearing. On October 19, 2011, the Association was served a Notice of Counsel Change. A hearing is scheduled for February 21, 2012 on a motion filed by the Association to properly name the parties in the foreclosure suit. 104 East On March 11, 2010 a request for placement of lien was given to the Association s Attorney for non-payment of maintenance assessments. In January the unit Owners were notified that as of February 9, 2012 Hancock Bank would proceed with the foreclose action. Due to unanticipated limitations of the ACH program at Gulf Winds Fed CU, the change from Hancock Bank as previously reported has been delayed indefinitely. The Association s Federal and State tax returns for 2011 have been completed and mailed. Operational: An inspection of the west tower roof by the Sarnafil manufacturer s representative revealed that the lightweight concrete located under the roofing membrane was cracking. Since no water intrusion was evident and the outer membrane retained proper adhesion, the manufacturer has stated that there is not a performance issue with the roofing system. They will provide a letter stating what was found and restate that the warranty in place has not been jeopardized. Additional signage is now in place directing owners and guests to the location of the recycling dumpster. The parking lot re-striping is currently underway as scheduled in the Association s reserve schedule. By utilizing Association staff, I will be able to reduce the Reserve funding for this item by $20,800

5 The replacement of the air handler unit in the manager s unit will cost $1,795. Three bids were obtained and the funds for this expense will come from the Reserves. The next BOD meeting is tentatively scheduled for 10:00 a.m. May 19, 2012, at the SRIA Boardroom.