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MINUTES of the
VILLAGE SQUARE OF TITUSVILLE CONDOMINIUM ASSOCIATION, INC
BOARD OF DIRECTORS’ MEETING held
Wednesday, OCTOBER 12, 2011

CALL MEETING TO ORDER: The meeting was called to order at 6:30 pm in the clubhouse.

ESTABLISH QUORUM OF DIRECTORS: Directors Present: President Evelyn Bourke, Vice President Vern Groe via speaker phone, Secretary Betty Conant, and Assistant Secretary Elizabeth Gosnell. Also in attendance was Michelle Davis, manager with Reconcilable Differences.

APPROVAL OF PRIOR MEETING MINUTES: Betty motioned to approve the minutes of the last meeting as written. Vern seconded all in favor.

FINANCIAL REPORT

  • Expenses versus Income: Michelle stated that the association is $4,000 under budget year to date, doing well financially, and there is $39,761.00 in the operating account and $183,308 in the various reserve accounts and CD’s. 
  • Collection Accounts / Foreclosure Updates: Michelle stated that the attorney sent an overview of the nine units in various stages of foreclosure or collections, and most have hearings in early 2012 to push the banks to move more quickly, called a case management hearing. One unit has had a lien for almost a year and this lien needs to be renewed. The Board gave permission for the attorney to proceed.
  • Accept Resignation of Doris McDowell: Doris sent in a resignation letter. Betty motioned to accept said resignation. Vern seconded, all in favor.
  • Appoint New Treasurer: Evelyn motioned to appoint Geraldine Pope as the interim director and treasurer. Betty seconded, all in favor. Gerry joined the Board for the rest of the meeting.
  • Ratify Expense to Repair Slab/Water lines at #126 (Cardone): There has been an ongoing issue with water coming up through the foundation at unit #126. Repairs have been done through the years, but none were long lasting. The plumber stated that the old lines under the foundation needed to be capped off and new lines installed in the walls so that any future leaks can be easily repaired. This work, including mold and water remediation and drywall completion, was bid at $4,900.00 by the plumber who has done work in the community before. Evelyn motioned to ratify this expense since it was an emergency and an association expense to repair. Betty seconded, all in favor.
  • Ratify Expense to Repair Slab/Water lines at #122 (Rigerman): This water leak was found to be under the water heater, so requires further investigation and may not be a foundation problem. 


UNFINISHED BUSINESS

  • Wall/Fence Painting & Repairs Update:  Terry Van Buskrik was the low bidder for this work, and Evelyn made a motion to approve using him for this job, at a cost not to exceed $1,610.00, with the money to be taken from wall / fence reserves. Vern seconded, all in favor. Due to rain, the start date should be October 17th. 
  • Entrance Sign Update: Three bids were received to add wording to the west entrance sign that states “Privately Owned Condominiums”, and to add a sign near the clubhouse so visitors know where the community starts. Len Piotrowski of Graphic Press bid $525.00 plus paint, a second bid from Dynamic Seven Inc was $775.00, and a third bid was received from A Sign Company for $500.00. A motion was made by V.P. Vern Groe via speaker phone to accept A Sign Company's bid. This was seconded by Secretary Betty Conant. The entire Board voted to approve A Sign Company's bid.
  • Smoke Detector Update: At least one hard-wired smoke alarm has been installed in each unit. This work was completed on August 16, and the Board believes all units are complaint with all city and state requirements for buildings of this age.


NEW BUSINESS

  • ·2012 Proposed Budget Discussion and Approval to Mail Budget Proposal to All Owners: The Board and a few owners discussed the proposed budget and how to keep the fees at $200.00 per unit per month. There was discussion about the fencing not needing to have a reserve line item since it will be 18 to 20 years before new ones are needed. There was also discussion about how plumbing repairs are an unknown, and having those repairs taken from a “Miscellaneous Building Components” line can help guarantee there is enough money for plumbing and all other items that are not required to have their own line in the reserve budget. Since stucco is not a required reserve item and there are not a lot of areas that need expensive repairs, this line could also be melded into the “Miscellaneous Reserves” line. All of these would take an owner vote, so Evelyn motioned to send out a fully funded reserves budget, as required by Florida Statute, which would be $212.00 per unit per month, along with the option to partially fund the reserve lines but keep the fees at $200.00 per month. This would also require a majority owner vote, so there will be four questions asked of all owners on a proxy that is sent out with the proposed budget. Betty seconded the motion, all Board members in favor of this mailing.

OWNER INPUT: There were no other items owners wished to discuss.

SET NEXT MEETING DATE: The proposed budget must be mailed out 30 days before the Meeting at which the Board approves the 2012 Budget. Since there are votes to be received from owners, there will be an Owner’s Budget Meeting, where owners can ask questions, and then the Board Budget Meeting at which the Board makes a final decision. Due to time and mailing constraints, the meeting will be held on November 30th. The agenda will be posted and mailed to all owners with the proposed budget.

ADJOURNMENT: There being no further business, the meeting adjourned at 7:20 pm.