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Garrett’s Run Condominium Association
Minutes of the Board of Directors’ Meeting
Wednesday, May 25, 2016

Call to Order/Establish Quorum of Directors: President Jim Hamilton called the meeting to order at 6:00 pm in the clubhouse at 7900 Greenboro Drive.  Board present were: President, Jim Hamilton, and Treasurer: Rosemary Gleason, Secretary/Asst. Treasurer Mary Orr, Director Alicia Ponegalek, and by phone conference Vice President Kathleen Fassler. Lynn Hiott with Reconcilable Differences was also present. No Unit owners were in attendance. 

Approval of the Board Meeting Minutes of March 15th and April 2nd organizational meeting minutes: Mary made a motion to approve the above said minutes as written, Rosemary seconded, and all were in favor.  

Financial: Lynn reported the following: As of April 30, 2016, the operating account at Sunrise Bank showed a balance of $53,080, but of that amount $18,120 was from prepaid assessments, leaving a balance of $34,960. There is $171,953 in the Reserve Accounts for future repairs. Accounts Receivable are at $31,061 with only 2 owners still owing for part of the 2015 Special Assessment.  The current profit and loss statement shows the association over budget by $2,871.

Collections: Lynn reported that unit 105 still owes over $13,000, however, the bank has completed their foreclosure and now are in possession of this unit. It has been on the market with them trying to sell it. We should be receiving some sort of settlement payoff soon. Unit 709 has been in paid in full and sold successfully. The new owners of this unit are very happy and seem to be a great asset to the community. Unit 608 is somewhat delinquent, but we had to pay the last two years’ taxes on this unit, but with the rent monthly, they will not be delinquent for long. Unit 802 and 306 are still delinquent and will send these files to Alliance company to proceed with foreclosure. Unit 703 reached out to us with a payment plan and this was accepted by the majority of the Board.  

Unfinished Business: 

  • Building Painting: Orlando Prestige has continued their work on the three buildings. They are moving along at a great pace and seem to be doing an excellent job. They should be finished up with the last of the buildings by end of month.  

New Business:

  • Stairwell Repairs Update: Lynn explained that NAC Seaside will begin the tasks of replacing the remaining 22 stairwells by the middle of June. Once the date gets closer, she will work with the contractor to place the notices on the doors of the respective units getting the new stairwells. Please note that once the notice is received, the residents must remove all personal belongings from their front decks for the work to begin. Once the notices are posted, the residents will need to remain inside or outside of their units from 8 am to 5 pm on the days the notices state. 
  • Cosmetic Bands and painting of buildings 100, 200, and 300: Lynn explained that Mike’s Masonry gave bids to complete the work of the cosmetic bands on the last three remaining buildings. Once that work has been completed, she would then like for Orlando Prestige to paint the buildings. Mike bid 100 building at $10,885; 200 building $19,675; and 300 building $19,320. All three buildings for a total of $49,880. These are the last three buildings to be completed with the cosmetic bands and for the painting. Mary motioned to approve the cosmetic band repairs at stated cost with funds being paid from National Valley Loan, Alicia seconded, and all were in favor. Jim signed the contracts for the work to begin immediately. 
  • Committees (Landscaping, Financial, Social, etc.) Lynn explained that committees are needed so that they can concentrate on details in particular areas. The committees are not authorized to make decisions on behalf of the Board of Directors. Committees are designed to brainstorm and report back to the Board with their recommendations. It is completely up to the Board to follow their recommendations. Anyone can be a part of the committee. There were no audience members jumping at volunteering for landscaping, financial or reserve study committees at this time. Social committee announced their proposed schedule of activities. Lynn explained again to them that their funding had to come from them. They needed to charge for the events to help build their “kitty fund” up so that they could continue to host parties. Lynn agreed to contact Bright House to see if they would be willing to donate to their cause by the means of a gift card. She will report at the next meeting. 

Manager Report: Lynn reported that the office would need to be closed from June 1st through the 6th as she was flying to Texas to see her son graduate basic military training from the Air Force. All the Board members agreed to allow Lynn the time off and for her to post notice on the front door. 
Owner Input: None. 

Set Next Board Meeting: It was agreed that the next date would still be determined for the next Board meeting in the clubhouse. 

Adjournment: There being no further business to discuss, the meeting was adjourned at 6:45 pm by Jim Hamilton. 
Respectfully Submitted,   
Lynn Hiott, CAM #35322
Reconcilable Differences, Inc.