Highlights from our February Board Meeting
- We are projecting a surplus in our 2025 budget of which a portion will be transferred to reserves to pay for some of the unplanned capital items such as stairwell work and hydrant replacement. There are some invoices that were received late and will be paid from 2026 budget.
- Our capital priorities are stairwell rebuilds, roof replacement, painting, and carport rebuilds. The board approved engineering and contractor invoices for stairwell work. We will rebid the painting and restoration project once all scope items are compiled. The Board will also get estimates for dryer vent repairs and covers after the painting project.
- Approved a $1,900 power washing project to clean walkways, stairwells, pavements, gutters, fences and awnings. There was report of a leak in Building 4, we will check about if we can do a short term repair as the roof is planned to be replaced late this year or early next year.
- The Board is reviewing late fee and collection structure, focusing on increasing the thresholds for late fees and first notices given the cost of collection letters to better align with the management company’s charges.
- For estate sales, the Board decided to implement a two-day notice requirement for both realtors and unit owners to ensure proper coordination and minimize disruptions.
- Discussed insurance updates, and approved property and liability coverage renewals. Property premiums will be under budget due to fewer hurricane damages in Florida last year and more competition. Once certificates are available, we will communicate to owners and post them on the secured website.
- The Board does not generally consider any late payment fee waivers. There are estimated 5 or 6 units that still pay by cheque and we need everyone transited to ACH or electronic bank payments.
Upcoming Meetings
Board Meeting: Tuesday March 17 @ 6:30PM over Zoom