VILLAGE SQUARE OF TITUSVILLE
CONDOMINIUM ASSOCIATION, INC
BOARD OF DIRECTORS’ MEETING
Wednesday, OCTOBER 12,
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
APPROVAL OF PRIOR MEETING
MINUTES: Betty motioned to approve the minutes of the last meeting as written.
Vern seconded all in favor.
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
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.
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.
·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.