Clubside Villas at Ballantrae Condominium Association Inc

Annual Meeting

Wednesday, January 29, 2014 at 4:30 p.m.

HOABuilding

Call to Order:

The annual meeting of the members of Clubside Villas was called to order at 4:35 p.m. by the president Peter Worch. 30 members were present by proxy or in person, establishing a quorum. Also present was Diane Korbeyof Bristol Management.

Notice of Meeting:

Diane Korbey certified that the first notice of annual meeting and election was posted and distributed according to the Florida statute 718 requirements on November 27, 2013 and the second notice of meeting was posted and distributed on January 6, 2014.

Approval of Minutes from Feb 8 2012 Annual Meeting:

Mike Piatt moved to waive the reading of the minutes from 2013; Janet Kirchmeier seconded the motion. The motion passed by unanimous vote. Gloria Neibauer moved to approve the minutes as written; Mike Piatt seconded the motion; the motion passed by unanimous vote.

Financial Report:

Janet Kirchmeier, treasurer, reported that as of December 31, 2013 there was $213,802 in reserves and $21,149 in the operating account. The 2013 year ended with a deficit of $7449 due to roof work and mold remediation. The board contracted for $19,000 in preventative maintenance for the roofs to avoid leaks in the future.

President’s Report:

I am Pete Worch, your President, and the first order of business is to thank those who worked hard in 2013:

Mike Piatt, Vice President, who volunteered to serve out the term of Gary Gruneberg who moved.

Janet Kirchmeier, our Treasurer

Gloria Neibauer, Secretary, Resident Welcomer, Chief decorator, and social chairman and

Bill Stewart, who rejoined the Board serving out the term of Wes VanHouten, who resigned due to other commitments. And Bill has completed his tour as of 27th… Thank you Bill for your service --- and stand by for a recall.

And a welcome to the new member to the Board, Herman Holpp

And last but certainly not least, Diane Korbey, our Property Manager and Lynn Taylor, her assistant.

I am here to tell you, folks, my job would be impossible without such a great team.

Thanks to Gloria, Janet, Bill and their spouses for the great work on the holiday decorations. This was quite a challenge. In addition to series strings going out due to bulb or string failure, there were numerous instances of the GFCI feeds tripping due to rain, sprinkler operation, and just plain revolts. We ended up making way too many trips to reset the GFCI and to buy new strings. The Board believes we need to go to LED lighting. We get informal estimates ranging from $1200 to $2000 to replace the current lights. There is NO money in the budget, so we will be passing the hat for some help. We will replace until we run out of the donated money, and pick up again next year.

We have emerged from a challenging year.

  • Roofs - It started as a number of buildings in Clubside Villas experienced roof leaks. I gave you the detail in the letter we provided with the budget. What you don’t know is that the initial estimates for roof replacement based on remaining roof life would have more than doubled our quarterly assessments.

Because of the diligent efforts of Wes VanHouten and Gary Gruneberg, (Our thanks to you both) we were able to make some sense out of the roof evaluations, identify the real (we hope) issues and take several actions:

Revert to the original estimate of 25 years total expected roof life

Use some of our existing reserve funds to contract for repair of portions of the roofs of all 12 buildings to assure they hold up until replacement. This work has been completed and we have had no further roof leaks reported.

Our roofs are already 10 to 12 years old. If we take the original roof life estimate of 25 years, the roofs would be due replacement in another 13 – 15 years. Thus, additional roof reserves were added to your annual assessment

  • Screen Enclosures and Pavers – Upon having a professional review of our reserves by the GABRobinAgency, we learned we must reserve for the eventual replacement of the screen enclosures (not the screens) and the driveway pavers.

Accommodating all these factors, we were able to hold the assessment increase to the $80+ per quarter figure

We have done our best to constrain expenses:

Bottom Line Changes

Administrative Expenses-1.8%

Operating Expenses+5.5%

Reserves+69.1%

Assessment+11.5%

  • Landscaping

We recognize that we still have some landscaping improvements to consider. We will do just that, but we do have a limited budget, and thus cannot do it all. It is well to understand that plantings of this nature have an expected life of 7 – 10 years. We are now at 10 years, and more replacements are necessary. We understand that.

Gloria, Diane and I met with FloridaScapes a week ago to look over our plantings. They removed some dead plantings around the neighborhood, but will not plant at this time of year. They will not remove any plants that show some sign of life, as many of these have suffered from white fly infestations and will likely recover. If they do not, they will be replaced. FloridaScapes experts caution against any major trimming at this time of year, as doing so will subject the plants to greater risk from cold spells. Also, they strongly recommend no plantings until April when the soil has warmed up.

In April, their people will again assess the plantings and give us an estimate of the costs of replacements or fill-ins of various different plants around the Villas. The Board will then prioritize replacements, and do what our budget can support. We have about $39,000 budgeted for landscaping --- 2/3 of our operating budget, nearly 1/3 of our total expense budget.

We could go out for a special assessment, but our current thoughts are to make it with what we have and consider increasing the “landscape replacements” budget for 2015.

Upcoming Projects for 2014: Power washing of pavers, etc.

Sealing of road

Work order for pole straightening

We have come quite a way, and feel your community is better for it.

Old Business

Mike Mead asked about the status of the law suit against the developer. Mike Piatt explained that the suit was dropped – the development’s business no longer exists and the principals are protected by bankruptcy filings. Mike Mead asked for a financial accounting of all expenses incurred.

New Business

None.

Election:

With 2 director terms expiring and 2 candidates, there was no election. Peter Worch and Herman Holpp were seated as directors.

Adjourned:

The meeting was adjourned at 4:40p.m.by motion made by Mike Piatt and seconded by Janet Kirchmeier; it was passed by a unanimous vote. A post meeting social was held at the Santa Lucia River Club.