La Grande Provence Condominium Association
Minutes of July 23, 2018
Scott Hillyard, Treasurer, Jodi Mansfield, Director, Jean Armstrong, Director, by phone. Anne de Ocejo, Secretary, Bruce Goforth, Director, Mary McGowan CAM, Lea Stokes, LCAM and 6 unit owners.
The meeting was called to order at 1:00 PM. A quorum was present.
|The May 29, 2018 board meeting minutes were approved.|
Scott opened the meeting with Committee reports and began speaking about changing the reserve method of funding from component to pooling. Straight line/component reserve contributions for each component are calculated separately, and summed together for an Association total. The Association’s Reserves are essentially divided into separate “funds” for each component, with no co-mingling. Pooled funds are considered one large pool of money, where a steady contribution rate is established to offset the scheduled Reserve expenses from the fund (no matter what project those expenses are designated for… roofing, painting, pool resurfacing, etc.
Scott made a motion for LGP Board to approve to change the straight line/component method of funding the reserve accounts to the pooling/cash flow method. By Florida Statute there must be an approving vote of the majority of the LGP ownership for this to be adopted. Anne, second the motion and opened up for discussion.
During the discussion, Jodi wanted to know the status of the revision of the overall LGP documents. Jodi was asked to stay on top of old business while Dave is away and emphasized the need to establish a time when we will have the critical discussion about our documents, to include board members tenure and the need to stagger terms for continuity purposes. The discussion has gone on for a long time and she wanted to know when it will be brought forward to the Board. Anne replied that Dave sets the agenda and it was not planned at this time. Scott stated he didn’t want to muddy the waters with multiple requests of the owners.
After discussion was complete a vote was called and the motion passed unanimously.
Scott made a second motion for LGP Board to approve initiating a ballot vote to the LGP owners to vote to approve changing from the straight line/component method of funding of reserve accounts to the pooling/cash flow method. The ballot and explanation will be mailed to owners on or before August 14, 2018 and must be returned on or before 1:00pm September 24, 2018. Jodi seconded the motion and it was passed unanimously.
Dan Needham presented a process to contact all owners individually in an effort to get the change passed.
Committee Reports were presented by Facilities, Architecture/Landscape and Communication. The Management report was presented by Mary.
George Pratt, an owner, was introduced to the Board to explain a new way of getting wifi in the elevator room to monitor temperature. This new method that was presented is also a new way of cutting our cable bill in half and getting secured wifi to all owners. George would like to present his ideas again in the future to share more cost saving ideas and make LGP more attractive to new owners.
The meeting adjourned at 2:13 PM.