The CY2009 Budget Presentation meeting of The Regency Tower Board was called to order at 7:00 p.m. on Thursday, November 13, 2008 in the Meeting Room of The Regency Tower by the President.
Roll Call -The roll call showed the following Board Members present: Iris Anastasi, Eric Berkowitz, Dee Lanzillo, Fern McBride, Bob Nagle, Dott Nicholson-Brown and Bill Tennenbaum (via speakerphone).
Reading of Minutes -The minutes of the meeting of The Regency Tower Board of Directors held on September 23, 2008 were read. Eric Berkowitz made a motion to approve the minutes, seconded by Iris Anastasi, unanimously approved.
Recommendation: Insurance (Bob Nagle) -The Treasurer, Bob Nagle, introduced the (other) members of the Finance Committee:
Bob Nagle stated that we have been with QBE for about five years. Our insurance had been about $140,000 a year but due to Hurricanes Wilma and Katrina it jumped to $427,000 per year. Five years ago our building was valued at $32 million and today the building is valued at $43 million. The higher the value of the building the higher the taxes, regardless of the market. Our broker is Smith Watson of Hollywood, Florida. They have been in existence since 1934 and we have been with them for five years. We have a 4 percent deductible, which is the best you can get, making us responsible for $1.7 million. QBE is located in Sydney, Australia, and is one of the largest and best run insurance companies. They are an “A” rated company. We are only one of three buildings on the Mile insured by a private company. We have a meeting scheduled for next week and there is a possibility we can get a lower rate.
Committee Reports -Committee Reports were precluded by the Budget Presentation. Click Here to read the September 2008 Committee Reports.
New Business -New Business was precluded by the Budget Presentation. . Click Here to read the September 2008 New Business.
Adjournment -A motion was made by Iris Anastasi and seconded by Bob Nagle to adjourn the meeting at 7:45 p.m.; unanimously approved.
Annual Holiday Fund for Employees
The Holiday Season will soon be here and, as is our custom, we are asking everyone to contribute to the Regency Tower Employees’ Holiday Fund for 2008. This fund shows our appreciation to all members of our staff for everything they have done during the past year to make living at the Regency Tower comfortable and pleasant.
The total amount received will be divided among all members of our staff. Although many residents give more, a minimum of $50.00 is suggested. We thank you for your generous response to this request.
Please make your check payable to “R. T. Employees’ Holiday Fund” and deposit it into the HOLIDAY FUND box on the Security Desk. If you are not in residence, please mail your contribution addressed to: Regency Tower Employees’ Holiday Fund by
Our committee wishes you and your family a joyous Holiday Season, as well as happiness and good health throughout the coming year.
Please keep in mind that many of our employees extended themselves far beyond their respective “job descriptions” before, during and after every emergency. Their actions contributed heavily to moderating the inconvenience and damage costs faced by our Association during and after each hurricane and tropical storm, when the garage door was on the fritz, during every flood, and during dozens of other instances that pass unnoticed BECAUSE THEY DO THEIR JOB SO WELL. This is an opportunity for each of us to show our gratitude and reward their dedication. Please DON’T ALLOW IT TO PASS without being heard from - editor
Employee Holiday Fund Committee