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CASA DEL SOL CONDOMINIUM
ANNUAL MEETING, SATURDAY, MAY 8, 2004
“DRAFT”- For Approval at the May 2005 Membership Meeting
The annual meeting was called to order at 10:00 AM in the Carousel, by association president, Frank Dean. Roll call was taken via a sign in sheet. Twenty-Two (22) owners were in attendance and eight (8) proxies were recorded for a total of Thirty units being represented. A quorum was declared.
The minutes of the annual meeting held on Sunday, May 17, 2003 were approved as presented.
FINANCIAL: As of 5/4/04
Buck reported the account balances per:
Checking - $ 15,000.00
Savings - $188,024.49
Accounts Receivable - $ 11,622.63
Buck reviewed an IRS required resolution (in meeting package) for the disposition of excess operating funds, if any, at the end of the year that stated excess monies would be used for capital improvement projects. Motion was made, seconded, and unanimously approved.
INSURANCE:
Mr. Matt Tilghman, a representative of Hanna, Kremer & Tilghman was present to answer any of the owner’s questions regarding the Associations Insurance Policy. It was discussed that the Board increase the amount of building coverage by $650,000, which equals $97,500 per unit additional coverage. He also explained that the building policy has a $2,500 deductible per occurrence on everything except for wind and flood damage and a 1% of a total claim deductible for all wind damage. The Association was able to take advantage of a 10 million umbrella policy written through Zurich Insurance Company, which will no longer be available at the expiration of the condominiums policy on 9/6/04. He advised that they will remarket, but to replace the 10 million umbrella would be expensive and the Board may need to consider reducing the limit for the upcoming year. Mr. Tilghman discussed how the policy only covers the original structure. All betterments, alterations, and improvements are not covered and should be included in the Owners personal policy. A summary of insurance was included with the meeting agenda pack for the owners review.
Casa Del Sol Annual Meeting 2004
Page two (2)
BUSINESS OF THE CONDOMINIUM:
1. Canal Renovations – Frank Dean reported that the
project is to commence on May 15, 2004 and will continue through with an anticipated
date of completion of October/November of 2004, pending weather. Following an
owner complaint, Frank requested that if owners find any problems with their
canal slider installation that they be placed in writing and submitted to Mann
Properties for
collection to be forwarded to the Engineer for review. He also reminded all
owners in attendance that the interior repairs are the responsibility of the
unit owner. Frank will schedule a meeting with a representative of the sliding
glass door manufacturer, Jack Russell, and the Engineer to assess the slider
installation and assure that the owners have received the quality of workmanship
required.
2. Third Floor Street Side Balconies - Frank mentioned that
following a review of the building by George, Miles & Buhr, the retained
project Engineer, it was decided that no additional third floor, street side,
balconies should be constructed until repairs can be made to the street side
of each unit. The Board decided to notify the membership that construction of
street side decks/balconies will not be approved and any prior approvals will
be rescinded if not currently completed based on the engineers findings.
3. Roof Report – Bob Siskind reported that the Board
of Directors has been rotating the replacement of the unit roofs based on a
ten-year schedule. The roof replacement previously preformed was found to be
of a poor quality resulting in the Boards efforts to find an alternative roofing
material as well as a new contractor. The Board is researching two different
options. The installation of a pitched roof, which would provide a 30-year warranty
or a tapered rubber membrane flat roof, which would provide a 10-year warranty.
Due to the cost of both options the board will need to do additional research
with the assistance of an engineer.
4. Rules & Regulations – Marci LaRue provided a report
of the revised Casa Del Sol Condominium Rules and Regulations. The owners discussed
the revised rules and decided to increase the amount of the third violation.
The first violation offense will be invoiced at a cost of $250, second offense
at a cost of $500, and the third offense will be at a total of $1,000. The association
voted and accepted the revised rules and regulations.
5. Casa Del Sol Web Site – Tom Chmiola has been working
on efforts to develop a web site for the associations use. This web site would
allow unit owners to obtain Condominium news, send messages to the Board of
Directors as well as other unit owners, submit requests for the Boards review,
view photographs of the unit and areas of the condominium, and have access to
the Annual and Board meetings. The owners in attendance supported the website,
Gene Miesse made a motion allowing Tom to proceed with the final stages of development
and activation of the Casa Del Sol Condominium Web Site, Millie Parker seconded
the motion, let the record show the vote was unanimous.
Casa Del Sol Annual Meeting 2004
Page three (3)
NEW BUSINESS:
1. Pilings – Following the winter freeze, several pilings
were lifted out of the ground. The Board contracted with a marine contractor
to reposition and drive the piling back into the ground.
2. Little Salisbury Boat Ramp Access – Little Salisbury
is trying to limit non-residents from use of the ramp. At this point there is
a time restriction only allowing use of the boat ramp from 8:00 AM through 6:00
PM. Mrs. Siskind made a motion to have the Board to contact the Ocean City,
City Council requesting access to the boat ramp as it is considered a public
ramp. Tom Chmiola seconded motion. Following discussion, the association requested
that Buck Mann, managing agent, attend the next City Council Hearing regarding
access on the Associations behalf, Buck mentioned that he would attend.
3. Recycling Bins – The Association decided to have Mann
Properties contact the Town of Ocean City to request recycling containers. Buck
mentioned that the containers are free but unsightly. The Association would
like them delivered for use.
ELECTION TO THE BOARD OF DIRECTORS
Three Three-Year Terms expired as of the date of this Meeting, Thomas Chmiola, Robert Siskind, and Victor Saville. Thomas Chmiola elected not to run for the Board of Directors for another term.
Marci LaRue, Robert Siskind and George Hanks were nominated via mail. Nominations were opened from the floor. With the absence of any nominations, they were closed. Marci LaRue, Robert Siskind and George Hanks were each elected for a three-year term.
Immediately following the annual meeting, the Directors met and elected officers
for the coming year:
President Frank Dean
Vice President Louis Napoli
Secretary/Treasurer Gene Miesse
Board Member Robert Siskind
Board Member Marci Larue
Board Member Anne Giannelli
Board Member George Hanks
Meeting adjourned at 12:15 PM.