Banana Bay HOME RDI HOME  

Minutes of the Banana Bay Condominium Association 
Board Meeting 
MONDAY, February 20, 2017 

Call to Order: The meeting began at 10:10 am in the clubhouse. 

Establish Quorum: Board president Barbara Peterson, VP Clyde Hoover, Secretary Carol Langmesser and Treasurer April Scott were present. Director Tim Sparks could not attend. Michelle Davis, CAM from Reconcilable Differences was also in attendance. Over 40 unit owners were in attendance. 

Approve Minutes of Last Board Meeting: Clyde motioned to approve the minutes of the February 1, 2016 meeting as written. Carol seconded, all in favor. These minutes will be posted on the website. 

NEW BUSINESS: 

Special Assessment: 
We have received $90,728 in insurance proceeds, and to date $903,637 in known costs to replace or repair the hurricane damage. Some of the costs are higher than industry standards, because the board was under duress to get emergency repairs done, so competitive bids were not obtained. 

The insurance deductible is very high. Although we will submit more damage repair costs to the insurance company, and will use roof, door, carport, and screen enclosure reserves, there is still a total of $522,503 to be covered by all the owners. 

The board would like to also put needed elevator repairs into the assessment as well as completing landscaping plans for plantings along the Publix wall and at the townhome entrances. Barb offered to e-mail her details about the landscape plans for those interested. 

All totaled, the cost divided by all 136 units is $3,951 and with the extra costs for elevator and landscaping repairs, the board would like to round the cost to $4,000 per unit. Barb noted that the last Special Assessment was made in 2005. It was also reiterated that personal insurance policies will cover approximately $2,000 of the hurricane special assessment. 

There were questions from the audience, regarding Rock Roofing’s cost for removal and installation of insulation. 
The board will discuss the concerns with the contractor and the attorney. The board was asked to consider having a building committee to report to the board with suggestions. 

After much discussion, Clyde motioned to have a special assessment to discuss costs and vote on a final assessment. Carol seconded. The meeting will be held Wednesday, March 15th at 10 am. Notice of this meeting, along with the details we have, will be mailed to all owners and posted onsite at least 14 days in advance. The attorney will be asked to attend this meeting. 

A resident wanted a formal motion not to pay Rock Roofing anything more until the concerns are investigated. The board stated that the issues are already under advisement and they have no plans to make more payments until the concerns are addressed. 

Elevator Repairs: A consultant was hired to obtain bids for the repairs to 2400 elevator. The elevator maintenance agreement he wrote up is for 5 years, and the current company, Kone did not bid on either repair or maintenance. For the “alterations”, the middle cost was at $8,800 for the crumbling concrete repair around the first floor and $1500 for sealing the pits of both elevators by injecting a glue that seals from the inside so that we do not have to dig up around the outside of the elevator building. There was discussion, but this decision was tabled until we can 
confirm that repairs are not contingent on getting the 5-year maintenance contract. Barb said that Kone has done a good job and she wants to make sure they have a chance to bid. 

Key Deposits: 
Clyde motioned to charge $5.00 per amenity key replacement, since there is a cost to drive and pay for copies. Carol seconded, all in favor. This is the key to the Publix gate and the bathrooms. 

Dryer Vent Cleaning: 
Currently, this work is done on a case by case basis. Barb motioned to add this line item to the operating budget each year, and to try and do half the job each year. It used to be in reserves, but being an annual cost to some degree, this will be added to the operating budget. It was noted that the original dryer vents ended in the attic and then some were configured incorrectly. Clyde motioned to take dryer vent cleaning line item out of reserves, since there was no money left n that line item, and start doing clean-outs on a bi-annual basis. April seconded, all in favor. 

OLD BUSINESS: 
Bank Loan: 
Last meeting, board approved a loan from FL Community Bank. The bank wanted a special assessment in place as collateral before a loan would be issued. It doesn’t seem to be a fiscally-appropriate use of funds, since interest on $600,000 adds up quickly. Barb motioned to not go forward with a bank loan. Clyde seconded, all in favor. 

OWNER FORUM
A kayak was recently stolen; it was chained up, but bolt cutters were used. A resident asked if we could add cameras at the kayak. Costs will be obtained. Residents were reminded that they store their boats at their own risk. Another owner asked about fencing between Dollar Tree and our property. This will be researched. 

Clyde said that Jim Miller, who was on the board for many years, was a volunteer at Cape Canaveral Hospital. The volunteers there let Clyde know that Jim had a great sense of humor and will be greatly missed by many. 

ADJOURNMENT
There being no further business to transact, Carol motioned to adjourn at 11:58 am. April seconded, all in favor. 

Respectfully Submitted, 
Michelle Davis, CMCA, AMS, LCAM #17226 
Community Association Manager 
Reconcilable Differences, Inc