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CASA DEL SOL
BOARD OF DIRECTORS MEETING MINUTES

November 10, 2010

Joe Sheare called the meeting to order at 8:03 p.m. via conference call.

Participants: Joe Sheare, Louis Napoli, John Foulkes, Mike Bufano, Tom Bell, Anne Giannelli, James McDonald, and Igor Conev (Mann Properties).

Board Members Absent: None

1. Reading and Approval of the Draft Minutes of the CDS Board Meeting of 09-22-10. A motion to approve the draft minutes of the CDS Board Meeting of 09-22-10 was made by Anne Giannelli and seconded by Lou Napoli. The motion passed unanimously.

2. Financial Review: Igor Conev (Mann Properties) reviewed the financial information.

a. Checking (1010, 1012) $ 3,695
b. Money Market Improvement Fund (1080) $ 11,031
c. Assessments Receivable

i. Condo Fees (1310) $ 11,052
ii. Special Assessments (1330) $ 0
d. Accounts Payable (3010) $ 0

Igor stated that since November 3, an additional $5,000 (approximate) in the form of condo dues from the unit owners has been received, which increases the Checking accounts by that amount and decreases the Condo Fees receivable also by that amount.

Bills Paid since 09-16-10:
09/16/10 AP0000 1163 2,381.74 BEACH BROTHERS, INC. RAIN GUTTER DRAINAGE
09/16/10 AP0000 1164 3,974.00 HANNA, KREMER & TILGHMAN CAP5165243
09/29/10 AP0000 1165 186.57 JOSEPH & ROBIN SHEARE ACE/HOME DEPOT/WINE RACK
09/29/10 AP0000 1166 99.64 DELMARVA POWER 2144 1799 9999
09/29/10 AP0000 1167 2,432.00 MATT'S MANAGEMENT FAMILY DOWN PAYMENT
09/29/10 AP0000 1168 406.50 MANN PROPERTIES ADM COSTS
09/30/10 AP0000 1169 2,060.64 MR. AND MRS. SALVATORE A. REFUND OVERPYMT ON ACCT
10/07/10 AP0000 1170 11,808.32 HANNA, KREMER & TILGHMAN MULTI PERIL
10/07/10 AP0000 2404 13,000.00 HANNA, KREMER & TILGHMAN MULTI PERIL
10/08/10 AP0000 1171 9,500.00 C/W BUILDING SERVICES PILING REPAIRS STREETSIDE
10/08/10 AP0000 2405 1,215.00 C/W BUILDING SERVICES PILING REPAIRS STREETSIDE
11/01/10 AP0000 1172 402.50 BEACH BROTHERS, INC. CUSTODIAL & ACCESS DOOR
11/01/10 AP0000 1173 94.09 DELMARVA POWER 2113 2499 9997
11/01/10 AP0000 1174 400.00 MATT'S MANAGEMENT FAMILY ASPHALT CUT, PATCH, OVERLAY
11/01/10 AP0000 1175 3,052.00 MANN PROPERTIES MANAGEMENT FEE 10/10

Igor also stated that of the remaining bills to be paid by the end of the year, the balance owed to Matt’s for the parking lot repairing and resealing is the largest. There are sufficient funds in the budget to cover this.

3. Business of the Condominium:

a. Parking Lot Resealing and Resurfacing – Update – Joe. Matt’s completed repairing and resealing of the parking lots on November 9. An open issue remains however concerning the speed bumps. The original work order requested that the bumps be removed, however Matt’s indicated that due to cement inlays and rebar underneath the bumps, more work would be required. According to the offering from Matt’s, an option provided was to remove all bumps and pave over the inlays, leaving just a very slight seam. Additional cost for this option is $750, but it wasn’t clear if this was for per section of bumps or for all the bumps in the parking lots. Igor will follow up with Matt’s for clarification. Lou Napoli made a motion to accept this option from Matt’s, provided the cost of $750 covered all the bumps, and if this is not the case, to table the decision on the bumps. Voting on this option would be done via email. The motion was seconded by John Foulkes, and passed with two opposed (Mike Bufano and Tom Bell). Tom Bell mentioned that in the future, more comprehensive specifications should be included in contract bids to cover potential increase due to unforeseen problems once a job begins execution.

Anne Giannelli also stated that she observed cave-ins around the some of the front-side pilings, where C/W Builders had done the piling repairs. Anne and Igor Conev will do a walk through this week and observe all situations around the pilings where this is a problem.

4. New Business.

a. Condominium Dues. Lou Napoli made a motion to increase the yearly condominium dues by 15 percent. The purpose is to continue to grow the condominium capital improvement fund and eliminate the need for future special assessments. The motion was seconded by Tom Bell, and carried unanimously.

b. Review and Approve Budget for 2011. The draft condominium budget for 2011 provided by Igor Conev was reviewed. After some discussion, it was decided to move $1,000 from the Miscellaneous Expenses line into the Legal Fees line to cover potential fees for an attorney to update the association By-Laws. Lou Napoli made a motion to approve the draft budget as amended, seconded by Tom Bell. The motion carried unanimously.

c. Update to the Association By-Laws. Discussion ensued regarding the need to update the by-laws. This was a continuation of the discussion begun in the August Board meeting and tabled until the November meeting. It was decided to ask for volunteers from the general membership to form a committee which would assemble a list of items that it feels should be included in to an updated by-laws. The plan would then be to use an attorney to include these items, along with any items conforming to current laws and policies, into a standard by-laws format. ANY ASSOCIATION MEMBER WHO WISHES TO PARTICIPATE IN THE COMMITTEE, PLEASE SEND AN EMAIL TO IGOR CONVEV, AT MANN PROPERTIES (igor@ocmannproperties.com).

5. Old Business. Joe suggested that a reminder be given to the unit owners regarding the winterizing of the units. Igor Conev will send out the reminder via separate email.

6. Committee Reports. None discussed.

7. Violations. None discussed.

8. Adjournment. Having no further business, the meeting was adjourned at 9:06 pm. It was decided not to have a Board meeting in December. The next meeting will be in January, 2011, see below.

NEXT CDS BOD MEETING (Proposed) – Wednesday, January 19, 2011, at 8pm.