Annual Meeting Minutes

Date: February 09, 2009
Hour: 10:00 am
Place: 9 Pirates Lane – Community Clubhouse

Call Meeting to Order
President Ken Shelly called the meeting to order at 10:00 am

Establish Quorum/Proof of Posting of Notice
A quorum was established and proof of notice was obtained in accordance with Florida Statute
718 and the association documents.

A motion was made and seconded to approve the 2007 annual meeting minutes. Motion passed

Officer Reports

    President Report – President Ken Shelly reported on the many activities and
    accomplishments in 2009.
           o Chadick & Associates – Bill Mann demonstrated the newly installed fire alarms
               installed in Bldgs 4, 5, 1, & 2
           o President Ken Shelly demonstrated a hot water tank leak detector and
               recommend residents employ such a system

    Treasurer Report – Treasurer Tom Loredo reported that the fiscal year of the Association
    runs from 3/1/07 to 2/28/08. Based on eleven months the Balance Sheet shows $37,559.35 in
    the operating account. The statement shows the following interest bearing accounts
            o Colonial Bank Reserves MMA $8,962.26
            o 1st. Commonwealth MMA Reserve $130,899.90
            o Total $139,862.16
    The Income Statement for the 11 months ending Jan. 31, 2008 shows:
            o Total Income $ 585,728.89
            o Total Expense $ 572,672.91
            o NET GAIN $ 13,055.98
    Monthly Budget notes
            o $1,298 Insurance Appraisal Charge.
            o $800 for Elevator Re-inspection.
            o $514 for Elevator Repairs.
            o $1,718 for Trees, Pots and Plantings for the pool area. Also for stones and fixing
                the circle area.
            o $2,866 Irrigation repairs.
            o $1,120 Chlorine pump and drain covers for Pool.
            o $2,425 Common element repairs and supplies.
    Reserves -January 31, 2009
            o Fascia $2,332.39
            o G utters $11,910.75
            o Roof Replacement $20,044.45
            o Stucco $6,323.15
            o Painting $44,878.95
Annual Meeting Minutes

           o Pavement Resurfacing $22,862.32
           o Pool (relining) $6,761.76
           o Pool Furniture $930.15
           o Clubhouse (inside repairs) $4,605.37
           o Elevator $20,802.36
           o Fire Safety & Elevator Refurbish $25,937.33
           o Fire Alarms -$51,526.82
           o Total $115,862.16
   Reserves notes
           o Fire Alarm Charges in January 09
           o Air Conditioners x4 $2,681.00
           o Deposit Bldgs 3, 6, 7, 8 $24,000.00
           o Completion of 4 Bldgs. $42,269.32
           o Install AC Bldgs 1, 2, 5 $1,218.00
           o Total $70,168.3
   Some of major issues this year.
           o Actual Budget within $15,000 of original projected budget.
           o Lower cost of Wind and Flood Insurances.
           o Signed a 2 year contract with Greenscapes.
           o Completed the installation of Fire Alarms in Building #4, #5, #1 and #2. All
               passed the final inspection.
           o Repaired/Replaced door closing mechanisms in all elevators and updated to new
               Florida Safety Codes.
   Director John Unison – Buildings: (see attached report)
   Director Lou Lehmann – Safety: Director Lou Lehmann asked that everyone to be aware of
   what they are setting out in the walkways because the need to be clear due to Fire Code.
   Director Juanita Slonina – Section 22 Liaison: Director Juanita Slonina reported Section 22
   has changed management companies. As of March 1st, 2009 bensns Management will be
   replace by Allient Mangement, Ft. Myers, FL

Committee Reports
     Documents Review – No report. Director Saskia Acken requested volunteers to work on
     the committee

       Social Committee & Recycling – Mary Ann Wiek and Cathy Loredo work with this
       group. They announced upcoming events and thanked everyone for the support.

       Safety – No report

       Landscape – Ann Shelly was able to report on the successful negotiation of the three year
       contract with Greenscapes. She reported that irrigation will be on two times a week
       because of the recommendation from Jay Winborn from Greenscapes. Plans are
       underway for plant replacement in the spring. John Vanderslice thanked Ann Shelly for
       her work on the committee.

       Building – John Unison see attached report.
Annual Meeting Minutes

Old Business – President Ken Shelly reported:

       Fire Alarm Installation Update
           o Building #4, #5, #1 and #2 have been completed and passed the final
           o Installations are stopped from Jan 1 to April 15, 2009. Bldgs 7, 8, 3, 6 will
               be done after April 15, 2009.
       Painting of the Rails
           o We originally received a bid to paint our rails and banisters for $78,480 on
               3/28/08. We have negotiated to get it done for $40,000 ($5,000 per bldg).
               Our Painting Reserves are at $44,879.
           o Replacing the rails would cost between $15,000 and $18,000 per Bldg.
       Advisory Committee – Treasurer Tom Loredo reported the Board is considering
       establishing an Advisory Committee reporting to The Treasurer. The Advisory
       Committee mission will be as follows:
           o   Look at Insurance; Do we have the right coverage? Do we have the right
               deductibles? Is there a better financing method?
           o   Reserves; Are we adequate in the quantity and timing of our reserves? Are
               there some other issues we are not addressing?
           o   Members; We will be tapping some of the vast expertise available at
               Commodore Club rather than an outside consultant. John Webber, Rich
               James, Al Staunton others. Volunteers are welcomed.

New Business
   a. Waiver of Annual Audit – The membership voted to waive the Annual Audit that would
      be required at the end of the 2008-2009 fiscal year. The vote was unanimously in favor.
   b. Rollover of surplus funds - The membership voted in support of rolling forward and
      surplus funds that accumulated during the 2008-2009 fiscal year. The vote was
      unanimously in favor.
   c. Election of Directors: : The following Directors were elected: Ken Shelly, Tom Loredo,
      Juanita Slonina, and Lou Lehmann
   d. Announcement of the Board of Directors - Ken Shelly (2 year term), Tom Loredo (2 year
      term), Juanita Slonina (2 year term), Lou Lehmann (2 year term), John Unison (1 year
      term), John Vanderslice (1 year term)and Saskia Acken (1 year term)

The meeting adjourned at 11:30 am.

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