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HomeMy WebLinkAboutLetter,;Zc)01-03(-/ Barbour Cove Property Owners Association, Inc. Board of Directors Meeting Minutes — Saturday, December 14, 2019 CALL TO ORDER: The meeting was called to order at 9:57 AM by President Colin Stewart. CALLING OF THE ROLL: Board members present were President Colin Stewart, Vice President Ken Isham, and Secretary Larry Sauter to satisfy the quorum requirement. VERIFICATION OF MEETING NOTICE: Notice of meeting was posted on Harbour Cove's Bulletin Board at least two (2) days prior to the scheduled Board of Directors meeting located at the Community Mailboxes. READING & APPROVAL OF PREVIOUS MINUTES: Vice President Isham made a motion with Secretary Sauter seconding to approve the November 15, 2019 minutes. Motion carried unanimously (3-0 vote). ADMINSTRATIVE BUSINESS OF THE BOARD: 1) The Board appointed two (2) new Board Members. President Stewart made a motion to appoint James Seaman and W. Dan Joslin, Jr. as new Members of the Board of Directors at Harbour Cove. Secretary Sauter seconded the motion. The motion carried unanimously by a 3-0 vote. 2) Qualification of the New Board Members. According to Florida Statues, each new Board Members is required to either take a class or certify that they have read and understand to the best of their ability, Harbour Cove POA's governing documents as well as the provisions of the state statute, and any applicable administrative rules and fiduciary duties to the Association. Both James Seaman and W. Dan Joslin, Jr. signed and certified that they have read and understand to the best of their ability, Harbour Cove POA's governing documents as well as the provisions of the state statute, and any applicable administrative rules and fiduciary duties to the Association. 3) Election of Officers. Secretary Sauter made a motion to approve the following Officers on the Board for 2020: 1) President Colin Stewart, Vice President Kenneth Isham, Secretary Lawrence Sauter, Treasurer James Seaman. Mr. W. Dan Joslin, Jr. will be a Director. Treasurer Seaman seconded the motion. The motion carried unanimously by a 5-0 vote. 4) Authorization of Co -Signors on Bank Accounts. Secretary Sauter made a motion to authorize both Treasurer James Seaman and Director W. Daniel Joslin, Jr. as additional co -signors on Harbour Cove POA's banking account(s). Treasurer Seaman seconded the motion. The motion carried unanimously by a 5-0 vote. MANAGER'S REPORT/FINANCIAL REPORT: Total assessments collected as of November 30, 2019, is $109,498. Total expenses as of November 30, 2019 is $151,510 with a balance of ($42,012). The Balance in Harbour Cove's Operating Account is $15,582. The current funds in the Reserve account are as follows: Checking Replacement Reserves account has $9,292 and the Replacement Reserve CD with CenterState Bank is $50,619 for a total amount in Reserves is $59,911. Other tasks completed: 1) Robelini Palm, Red Ixora's, Fakahatchee Grass, and''/2 pallet of sod were planted at the front entrance located in front of the guard house: However, Robellini palm did not survive. As a result, a foxtail palm at no cost to the Association will be installed at the front entrance to replace the dead Robellini by Agricultural Technologies. �oolr63� 2) The current matured 7-month CD was rolled over into another 7-month CD at a special rate of 1.50% as well as CenterState Bank agreed to waive an early withdrawal penalty, which the Board intends to ratify at the BOD meeting. 3) The Rules & Regulations and the Architectural Review Committee Procedures and Guidelines will be recorded with St. Lucie County as soon as Mr. Bolton obtains the necessary signatures from President Stewart and Secretary Sauter as well as being notarized. Once recorded, all homeowners will receive a copy of the documents either electronically or via hard copies and posted on the Association's website. 4) The annual mulching of the property was mostly completed. 5) Preparation for the Annual Members Meeting was a priority for Mr. Bolton. ARCHITECTURAL REVIEW COMMITTEE (ARC): Chairperson Kevin Blakey announced that his Committee will be scheduling Harbour Cove's Annual Community Inspection come January 2020. APPEALS COMMITTEE: Nothing to report at that time. DOCK MASTER: According to the Rules & Regulations, Director Joslin, Jr. reported that the Dock Master is required to have a copy of keys for every boat lift. However, the Board of Directors may revisit this rule to be removed due to unnecessary legal liability for the Association. President Stewart also mentioned that the dock needs to be resurveyed to accurately marked and number each dock slip. LANDSCAPING: President Stewart reported that additional application of mulch is required at certain areas at Harbour Cove. The Board will address this issue in the near future. NORTH BEACH REPRESENTATIVE REPORT: Nothing to report at that time. OLD BUSINESS: 1. Secretary Sauter made a motion to ratify the rollover of the current matured CD into a 7-month CD at a special rate of 1.50% with CenterState Bank agreeing to waive an early withdrawal penalty as well. President Stewart seconded the motion. The motion carried unanimously by a 5-0 vote. Secretary Sauter also acknowledged the efforts by Mr. Marcus Newton and Mr. Burt Bolton for making this transaction happen. NEW BUSINESS: 1. The Board of Directors requested that the Board of Directors meeting be scheduled for 2020 on every 4"i R 791 Secretary Sauter made a motion to ratify the reimbursement of $447.47 to President Stewart for funds paid out for additional lumber for the dock restoration project. Vice President Isham seconded the motion. The motion carried by a 4-0 vote (President Stewart abstained). � d Ul r 03t-15 BOARD MEMBERS' COMMENTS: The Board of Directors would like to welcome the new Board Members, James Seaman and W. Dan Joslin, Jr., to the Board. In addition, the Board would like to extend their sincere gratitude to Peter Mersberger and John Pinder for the unwavering dedication and service to the Association over the years. HOA MEMBERS' COMMENTS AND QUESTIONS (5 MINUTES/PERSON): N/A ADJOURNMENT: President Stewart motioned to adjourn the BOD meeting. Vice President Isham seconded the motion. The Board unanimously adjourned the BOD meeting at 10:22 AM.