Martinique Condo Home Owners Association

Minutes from December 2, 2003 Board Meeting

Mar 03, 2004

Minutes from December 2, Board Meeting
Martinique Board of Directors Meeting



Kevin Lindahl called the meeting to order at 5:00 p.m.

Board Members present were: Kevin Lindahl, Alan Byrne, Eddie Knudsen, Lloyd Graham and Kathy Gautsch

The minutes of the last meeting were approved with date amended to read October 7 vs. October 8.

Lloyd reviewed the proposed budget for 2004. Highlights of the proposal are:
?· Increasing the monthly assessment to $395
o This monthly increase of $28 per unit is due to having a full-time maintenance/cleaning employee, an increase in our insurance, a 10% increase in FP&L for Ponce Inlet and other increases in services.
?· Electric expense may be able to be reduced if we choose not to heat the pool year round
?· Gas bill may be reduced if we install an on/off switch. Anyone wanting to use the spa can turn it on 20-30 minutes before using and then turn it off when finished. This could save $100 per month
?· Otis Elevator has a 9% annual increase but we negotiated a 4% increase by extending our contract to 2010
?· TJW Management fee will remain the same until 2005
?· Insurance ?– we can count on an annual increase of 10-12%. Many insurance companies have decided not to cover beachfront condos.
?· We still have $9000 in working capital that can be used for any additional needs beyond funds allocated to special projects, repairs, etc.

A motion was made and passed to accept the proposed budget as presented.

A motion was made and passed to adjourn the meeting at 5:25 p.m.
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Respectfully submitted by Kathy Gautsch