FOUR WINDS BEACH RESORT CONDOMINIUM ASSOCIATION, INC.

BOARD OF DIRECTOR’S MEETING

NOVEMBER 7, 2007

 

A meeting of the Board of Directors of the Four Winds Beach Resort Condominium Association, Inc. was held at 11:15 AM, on November 7, 2007 at the resort, after the Annual Meeting of the Membership.  Present were President Joe Walsh, Vice President Pat Webb, Treasurer John Tanner, Secretary Paul Erickson, Director Bill Cunningham, Four Winds General Manager Nancy Yoder and Assistant Manager Larry Claypool.  Owners Ron and Shirley Schilla, John Houseman, Garry Smith, Jackie Walsh and Karen Tanner were also present.

 

Notice of the November 7, 2006 Board of Directors meeting was posted on the property more than forty-eight hours in advance of the meeting.

 

President Walsh called the meeting to order.

 

APPROVAL OF MINUTES:

Director Cunningham moved that the Minutes of September 11 & 12, 2007, be approved as submitted.  Secretary Erickson seconded the motion, which then carried unanimously.  It was clarified that the minutes would continue to be made available in the lobby and the internet, and that the internet files would be cumulative as of the beginning of 2007

 

BOARD ORGANIZATION:

Election of Officers

Four separate motions were made seconded and carried unanimously as follows…

 

Name                            Position                       Motion                                      Second

Joe Walsh                    President                     Bill Cunningham                     Pat Webb

Pat Webb                     Vice President            Joe Walsh                                 John Tanner

John Tanner                Treasurer                     Paul Erickson                          Joe Walsh

Paul Erickson             Secretary                     John Tanner                             Joe Walsh

 

Meeting Dates for 2008

After fairly extensive discussion, the calendar of meeting dates was set as…

May 20 & 21, 2008                 Week 20

September 9 & 10, 2008      Week 36

November 12, 2008               Week 45          Annual Meeting

 

The motion to approve the meeting dates for 2008 was made by Secretary Erickson, seconded by Vice President Webb and carried unanimously.

 

Two committees were also set up: Furniture/Refurbishing – Nancy, Secretary Erickson and Director Cunningham, and Payroll/Pay-Rate Ranges – Vice President Webb and Director Cunningham.   The Furniture/Refurbishing committee was charged with bringing options and recommendations to the Board for the May meeting.

 

FINANCIAL BUSINESS:

Allocation of Bank Interest

Treasurer Tanner said he thought the interest should remain in the accounts (Reserve and Operating) in which they were already.  He also expressed concerns over limiting the investments in each bank to $100,000 and finding the absolute best rate, saying that the Board may have to settle for slightly worse than optimal rates in order to safeguard its investments.

 

Rollover of Excess 2007 Operating Funds into 2008

No action was taken on this issue.

 

Final Approval of 2008 Operating & Reserve Budget

Director Cunningham moved that the Budget be adopted as proposed.  Vice President Pat Webb seconded the motion, which then carried unanimously.

 

OTHER BUSINESS:

Guest List Availability

John Houseman asked the Board to reconsider making the weekly guest lists available for hand out at the Front Desk.  After discussion, President Walsh said he would look into the subject, consulting what the Association’s attorney had said.

 

LUNCH:

There was a break for lunch.

 

UNFINISHED BUSINESS:

Unit Refurbishment

Philip Todd, and two associates, made a presentation on the refurbishment, redecoration and upgrade of the units.  They explained the quality of the materials they were proposing, and the fact that any combination of the available materials was possible.  They said there was a five year warranty on the furniture, but that they expected the furniture to last substantially longer.  They proposed doing the entire resort continuously from one end around to the other in 60 to 75 days.  They explained that this would be the most cost effective and efficient way to approach the renovation of the units.  Extensive discussion followed, centering primarily on the logistics of getting the work done, and the resultant costs.  A number of options were discussed at great length.  It was finally decided that the interior designers would get specific, itemized bids for doing the kitchen cabinets and vanities for the Board by Tuesday of the following week, and that the Board would respond to that proposal by the following Friday.

 

After Philip Todd left, the individual Board members expressed grave misgivings about the feasibility of doing the kind of work proposed without special assessments and causing massive difficulties for the owners and management, neither of which the Board was inclined to consider.  There was further discussion, including presenting the available options to the Owners in a referendum, and the possibility that a special assessment might actually be an acceptable idea. 

 

ADJOURNMENT:

Director Cunningham moved that the meeting be adjourned.  Treasurer Tanner seconded the motion, which then carried unanimously.  The next meeting of the Four Winds Condominium Association Board of Directors is on May 20 & 21, 2008.

 

Respectfully submitted,

Larry Claypool

For Paul Erickson

11/8/07