The meeting was called to order at 7:39 p.m. by President John Laprade.
Board Members Present: John Amatulli, Herbert Fontecilla, John Laprade, Fern McBride, Sonia Picariello
Board Members attending via Telephone: Stephanie DeAngelis, Kevin Suszko
Approval of Minutes
The minutes of the April 8, 2019 meeting will be revised to reflect changes to the voting of the January 23, 2019 and February 28, 2019 board meetings
The minutes of the April 25, 2019 meeting will be revised to record names of board members who voted in favor/against the motion.
Presidentís Report - President John Laprade addressed several key association issues in his Presidentís Remarks. Click Here to read the Presidentís Remarks.
Treasurer's Report - Treasurer John Amatulli
The April financials will not be available until May 20th.
The concrete assessment update will be posted to our website on Tuesday, May 14th, along with the invoices paid from this account.
Concrete Restoration Special Assessment
As of May 10, 2019, Unit owners have paid $ 545,203.38 towards their assessments. In addition, there was $ 328,976.59 transferred from the Reserve Funds, bringing the total amount collected to $ 874,179.97.
As of May 10th, there are 14 unit owners who have not remitted their share of the special assessment. These unpaid amounts total $ 31,511.19. In addition, there are 19-unit owners who have made payments towards their assessments, however, not the full amounts that were due on April 1, 2019.
These unpaid amounts range from $ 0.09 to $ 899.57 and total $ 2,045.65.
The total amount of unpaid assessments is $ 33,556.84.
There have been eight debits from the Special Assessment account, totaling $17,469.26, invoices attached. The name and unit number of an owner who paid his $3,668.80 assessment twice and another owner who had a $1,525.24 check returned for insufficient funds, have not been identified for privacy reasons.
The balance in the Center State Special Assessment bank account, as of May 13th., is $856,710.71, G/L Account Activity statement attached.
Copies of the complete Treasurer's Report are available in the office or the password protected website (1regencytower.com) - only to members.) . - editor
New Fob/security System Presentation
- Employee Health Insurance Renewal
After Andrew Surdovel explained and shared information from four companies regarding our employee health insurance, Herbert Fontecilla made a motion to accept a contract with Humana for our employee health insurance. The motion was seconded and unanimously approved.
Prior to the board conducting regular business, two presenters from Anthony Lock and Safe explained the several benefits of updating our current FOB security system and reviewed their proposal with the board. During the new business section of the agenda the board discussed updating the current FOB/Security system. Herbert Fontecilla made a motion to contract with Anthony Lock & Safe to upgrade our security system and wiring (after conferring with the vendor and engineer about the timing of the upgrade interfering with the concrete project) and increase the number of FOBís and windshield labels for the garage to take advantage of the pricing in the estimate. The motion was seconded and unanimously approved.
Review of Commitment Letter from Center State Bank
After reviewing the commitment letter from Center State Bank, John Amatulli made a motion to approve the commitment letter from Center State bank with a change in the amount of the line of credit to $1,682,000 and changes in the purpose to be limited to hurricane damages and concrete restoration and related professional fees. The motion was seconded and unanimously approved.
Adjournment - No further business, the meeting was adjourned at 9:13 p.m.
Click to Top of Page
PRESIDENTíS OPENING REMARKS
MAY 13, 2019 Board Meeting
Board President John Lapradeís
Message to Members
|General Manager Andrew Surdovel|
Thank you to all of our owners who are participating here in the Rendezvous Room, on channel 92 and via ZOOM web conferencing. I appreciate your participation in the monthly board meetings.
|President John Laprade|
I sent out a letter with the agenda to all owners about the decorum at the April board meeting. I accept the responsibility for the confusion at the last meeting and hope that the rules outlined in my letter will help the board to be more productive and to avoid the confusion of the last meeting - and most importantly - allow owners to follow along and hear what is being said.
We have a full agenda for our board meeting tonight:
Our manager will review options for our employee health insurance plan renewing on June 1
- We have two presenters here from Anthony Lock and Safe in Pompano Beach to do a presentation on the improved FOB/Security system we discussed at the last board meeting. We have three bids for the board to review and discuss on this improved security system
Finally, Center State Bank has approved the increase for the line of credit required for proof of funds for the performance bond for the balcony/concrete restoration project and the board will review and discuss approving the commitment letter so the project can move forward