2009 Association meeting

Board of Directors Meeting prior Association meeting

October 17, 2009

Attendance:

Ken Wood – President, unit 704

Bill Roberts- V-President, unit 501

Charles Rice- Secretary, units 301&302

Joe Bishoff- Treasurer, unit 105

Jody Wolf- Director, unit 303

John Boller- President, Gulf Shores Rentals, Inc.

Kerry Ingram- Association Manager, Gulf Shores Rentals, Inc.

Meeting was called to order at 2:11 p.m. by President Ken Wood.

The proxies were counted and there was enough to hold the annual meeting with the proxies and the members present.  John Boller mentioned that one proxy had a note they were turning over their unit to there mortgage company as soon as possible.  Jody Wolf asked about the procedures the board took to recover money from foreclosed units. John Boller explained that in the event of a foreclosure the mortgage company was responsible for six months past dues.

Ken Wood went through the agenda for the annual meeting. The proposed budget for 2010 along with the year to date income and expenses for were reviewed. Flood and property insurance coverage was discussed. Building Maintenance for 2009 was high verses the expected 2010 year due to the projects completed.  There are other projects like the pool ladders and health department code requirements to be completed. The Board discussed raising the dues to include the total estimated insurance cost or leaving the dues the same and having an insurance assessment. The Board of Directors views are the dues should stay the about the same and have an insurance assessment in the spring. 

The Board discussed wireless for the complex. John Boller and Joe Bishoff added comments about the different companies.

Wood discussed security for the complex and charging for parking passes to help off set the cost. Board decided to discuss in the annual meeting. 

Wood adjourned meeting.

Tropic Isle Condominium

2009 Annual Meeting

October 17, 2009

2009 Board Member Attendees:

President- Ken Wood

Vice Pres- Bill Roberts

Treasurer- Joe Bishoff

Secretary- Charles Rice

Director- Jody Wolf

Management Company: Gulf Shores Rentals, Inc.

President- John Boller

Association Manager- Kerry Ingram

After qualifying the proxies and attendance the meeting was called to order by President Ken Wood.  A total of 69% of the Owners were represented either in person or by proxy. Wood welcomed everyone and recognized new owners and introduced the Board of Directors.

Wood asked if everyone had a copy of the minutes from the last meeting. Joe Bishoff made the motion to waive the reading of the minutes and that they be approved as presented.  Bill Roberts seconded the motion.  All approved motion passed.

Wood presented the Presidents report to the members, a look back at 2009 year. The repairs to the exterior of the building and the repair to the 05 units were discussed. Only a couple of units are not finished. Wood reported that the complex was in good shape and that he would keep everyone up to date on any repairs that will come up.

John Boller was asked to present the Financial Statements. Boller reviewed the balance statement along with income and expenses for the year.  Joe Bishoff asked Boller about the pool regulations set forth by the BC Health Department. The pool ladders will have to be replaced but the fence for separating the kiddy pool from the pool was not going to be required now. The fence requirement has been extended for 3 years. The sand filter was not working correctly and is in the process of being replaced.  Wood asked if there were any more questions or comments. An Owner made a comment the elevator was working very good these days.  Wood asked that a rubber mat be purchased and placed in the cab of the elevator. Boller confirmed the request.

Wood asked members and the board to review the 2010 budget. Wood requested that Boller present the 2010 budget. Boller reviewed the two options.  Option one includes an insurance assessment with the monthly dues remaining the same.  Option two includes the estimated full cost of the insurance in the budget with an increase in the monthly dues.  Boller reviewed other items and asked if there were any question. Wood asked for a discussion. Raising dues or leaving them as they are and having a special assessment.  Many members voiced their opinions.

Candi Blackwell unit 206 asked about a discussion of the insurance and the trend. Boller stated that some agents are suggesting to budget a 5-10% increase.  Others are hoping for no increase due to no storms so far this season.  The member’s consensus was that the monthly dues remain lower or the same and have an insurance assessment in the spring.  The Board agreed and stated they would discuss and approve a final budget.

Ken Wood brought to the floor the issue of security of the property and the Association charging for parking passes. This was discussed at length, but the members and the board did not feel either was necessary at this time.

Wireless internet access for the complex was discussed. Most all members agreed it was of interest and was needed for the building.  It was asked that John Boller and Joe Bishoff check into this service and pricing from various companies.  The Board will keep members updated on the progress of this item.

Election of two Directors:

Jody Wolf and Doug Sherrod positions were a 1 year term and are expiring.  The election is for two positions for two year terms.  After discussion, Joe Bishoff nominated Jody Wolf and Candi Blackwell for three year terms. Hearing no other nominations, Joe Bishoff made a motion to close nominations and elect Wolf and Blackwell by acclamation.  Charles Rice seconded the motion and motion passed.

Hearing no other business Wood adjourned the meeting at 4:22 p.m.

Board meeting afterwards for election of officers.

2009

Board of Directors Meeting after Association meeting

October 17, 2009

Meeting called to order at 4:30pm.

The following slate of officers was presented and discussed:

President- Ken Wood

Vice Pres- Bill Roberts

Treasurer- Candi Blackwell

Secretary- Charles Rice

Director- Joe Bishoff

Director- Jody Wolf

Joe Bishoff made the motion to approve the slate of officers, Bill Roberts seconded the motion and it carried.

Ken Wood talked about increasing monthly dues by a small amount to increase the reserve fund. Numbers will be looked at and emails will be sent out with proposals.

Wireless internet for the complex; there was enough interest in the subject at the annual meeting that the Board request that John Boller and Joe Bishoff to check into this, and get back to them.

Ken encouraged the board to keep in touch with emails and with problems or comments about the complex.

Meeting adjourned.