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CASA DEL SOL CONDOMINIUM
ANNUAL MEETING – 5/12/01
MINUTES
Buck Mann of Mann Properties called the meeting to order at 10:00 AM in the VFW on 66th street in Ocean City, MD. In attendance the Board of Directors, 22 owners and 10 proxy to make a total of 32 owners in attendance. Welcome new owner of unit #656 Joseph Schaub.
Reading and approval of the May 13, 2000 Casa Del Sol meeting minutes. Motion made and minutes accepted.
FINANCIAL:
Buck Mann presented financials as of 5/12/01:
Checking Account: $16,444.89
Savings Account: $51,116.08
Financial report accepted as presented
1. Request made to include financials from the previous year to use as a comparison
in all upcoming annual meetings. Buck agreed to provide the appropriate information.
2. Recommendation to have any extra monies applied to the capital replacement
fund. Accepted if additional money left over.
INSURANCE:
1. Buck reviewed information on the insurance review provided by Hanna, Kremer
& Tilghman so owners can decide if any additional coverage is needed for
their Homeowners policy.
2. Buck also added if owners receive letters from their mortgage companies inquiring
proof of insurance requesting an insurance certificate, to please send a copy
of the letter to Mann Properties so they may forward the information to the
insurance company to further assist in the process.
BUSINESS:
Work Weekend, the board of directors thanked the owners for more than 50% in
attendance for the past work weekend. Work preformed consisted of power washing
and staining of all decks which saved the association approximately $6,000.00.
It was agreed by all that they look great and have extended the life several
years.
CDS Annual Meeting 5.12.01
Page 2.
Future projects presented for interest and approval:
1. Sealing the Parking Lot as a work weekend project, Buck mentioned that he
would see that all of the materials and supplies needed to perform the work
were available.
2. Garage Sale, owners responded with a great interest.
3. News Letter, to inform the community of all past and future projects &
events as well as additional information to conduct better relations between
owners, owners express interest and appointed Patty as editor.
Reserve Study
Discussion on the need for $50,000.00 in the reserve fund. The board has been
taking a closer look into continued issues of the condition of the three-stack
construction of the buildings, all built in 1974. The renovations taken place
over the past eighteen years look great, however they are causing the majority
of the problem. Rot is occurring beneath the siding due to its poor installation
and was not caulked properly. In the past ten to twelve years’ water seepage
has caused rot and termite problems. The termites have been addressed but the
damage caused by water is still occurring. This has been attributed to the sliding
glass doors not having flashing beneath the door, allowing water to seep behind
the vinyl siding. The pre-fabricated units were constructed with compressed
wood in lieu plywood. Compressed wood swells when saturated unlike plywood.
The board passed out a handout to show the extent of the damage. The solution
provided is to have the owners replace their own unit’s sliders and windows
as specified in the By-Laws, provided they use the approved style and color.
The board of directors mentioned that the building does not comply with current
State and Federal Fire codes. The second floor balconies and walkways are now
to be considered a fire escape.
Discussion on what is considered to be the responsibility of the owners and responsibility of the association. Buck explained the exterior of the building is the responsibility of the association and all doors and windows are the responsibility of the owners as stated in the Master Deed and By-Laws.
770 Building
Work will commence at the end of the season as scheduled to address the rot
beneath the siding. It was noted there would not be a special assessment to
pay for the work being preformed. All owners agreed that they have elected the
board of directors to research the problems and find a reasonable solution that
is in the best interest of the building and its value.
CDS Annual Meeting 5.12.01
Page 3.
Work to be preformed in the fall will consist of the following: Remove the vinyl siding and assess the rot. Remove all of the rotten wood replace it and install new plywood and vinyl siding to match existing siding. Reminder - all windows and sliders will be the cost of each individual owner, to be the same color of brown, which will ensure the consistent appearance of the building and escape the adverse effect it will cause.
Rules and Regulations
All owners have knowledge of the rules and regulations. When owners decide to rent their unit the rules and regulations need to be passed on to the renters. Please follow all rules and regulations at all times.
Election to the Board of Directors
Vic Saville and Tom Chmiola term expires as the date of the meeting. Buck inquired if there would be any nominees from the floor, with out a response the two board members Vic Saville and Tom Chmiola were re-elected.
Meeting Adjourned 1:00PM