GULF DUNES CONDOMINIUM OWNERS ASSOCIATION, INC.

BOARD MEETING

JULY 18, 2012

MINUTES

Board Members

Via Teleconference: David Heath, Vice President

Jim Blaha, Treasurer

Charlie Hudson, Secretary

Marty Burdick, Director

Jane Bengier, Director

Frank Garguilo, Director

Brooks and Shorey Representation: Ron Shorey, Association Manager

Bill Treon, General Manager

Dan Lee, Maintenance Supervisor

Stasia Pavlich, Executive Assistant

Emerald Coast CPA: Robert Anderson

CALL TO ORDER

Vice President David Heath called the meeting to order at 9:30 a.m.

ESTABLISH QUORUM

A quorum was established with six (6) Board members present.

PROOF OF NOTICE

Vice President David Heath advised that the Notice of the meeting was posted in accordance with the By-Laws and Florida Statutes.

DISPOSITION OF MINUTES

Charlie Hudson motioned to waive the reading and to approve the meeting minutes of May 16, 2012. Marty Burdick seconded the motion. The motion passed unanimously.

FINANCIAL REPORT

June Financials: Jim Blaha stated we are over budget last month with a $6,800.00 net income, which brings us to almost $12,000.00 negative income for the year versus a budget of a positive $5,000.00 net income. He asked what we can do to get back on budget. Ron Shorey stated the Association is approximately $3,000.00 in the administrative line item, which is mostly legal fees. Building maintenance is over budget due to a $3,000.00 water pump repair, the grinding down and sloping of one of the balconies and all the window frame painting (north elevation) and replacing the window screens. Bill Treon stated there is going to be an elevator repair of $3,700.00. Robert Anderson stated $10,000.00 of net income should be added to this from last year, it just doesn’t show in the financials, but does show in the budget. David Heath stated we have upgraded landscaping this year, which was not budgeted. David Heath stated he was here last month and saw a lot of work going on and a lot of guests beating up our property and the maintenance team trying to keep up with the repairs.

Foreclosure status: Were discussed.

Late payment status: Late payments were discussed.

MANAGER’S REPORT

Rental Income Rebate Program: The total 2% rental income is $7,980.00 as of June 30, 2012. The budgeted amount through June is $3,600.00.

Project Status/Action Item Checklist:

Repair and resurface tennis court-scheduled week of July 16: Bill Treon stated due to rain the tennis court resurfacing has been pushed back and Bill Treon is awaiting a call as to when this project will begin.

UNFINISHED BUSINESS

NONE

NEW BUSINESS

Repair of West building elevator: Bill Treon stated it will cost $3,700.00 to repair the elevator and is waiting to find out when this repair will be scheduled.

Replacement of pavers removed to repair broken pipe in pool area: Bill Treon stated there was a leak in the pool deck (east pool) area under the pavers. The leak was prepared and now the pavers need to be replaced. Bill Treon stated he has a contractor that he will be meeting on site to obtain an estimate to replace the pavers.

Owner’s suggestions/requests: none

·  Marty Burdick stated we all received a pre hurricane and post hurricane checklist for our property. Marty Burdick would like to meet with Marianne and Bill Treon to go over the list. Ron Shorey stated we have vendors on standby for storm related issues. Ron Shorey stated the pool heaters and lawn pumps are removed and stored on a higher floor, as well as all patio furniture is removed and all hurricane shutters are closed.

·  Rob Tallent stated the insurance renewed in April and the Association has moved away from Citizens (wind storm) the state program and now have a 2% deductible with a different company. Rob Tallent stated he has been dealing with the mortgagee issues and ask the owners to please contact him with any issues.

·  Ron Shorey asked if the Board would like Brooks and Shorey Resorts to hire an engineer (Dan Smith of Cornerstone Engineering) to prepare a scope of work for the sliding glass doors at a cost of $85.00 per hour and would obtain bids to present to the owners. Marty Burdick motioned to hire Dan Smith of Cornerstone Engineering to prepare a scope of work to replace the sliding glass doors at Gulf Dunes.

·  Dan Lee recommends the Board purchase a different type of pool furniture, since the current pool furniture keeps breaking. The other option is an aluminum frame with vinyl straps and this type of pool furniture seems to last longer. The cost of the pool loungers are approximately $150.00 each. The Board agreed to have the new pool furniture purchased and in place before the Annual meeting. Dan Lee stated he would obtain a quote for the new pool furniture.

NEXT BOARD MEETING:

Wednesday, September 19, 2012 at 9:30 a.m. at Brooks and Shorey Resorts.

Annual Meeting date will be Saturday, October 13, 2012.

ADJOURNMENT

Jim Blaha made a motion to adjourn the meeting. Charlie Hudson seconded the motion. The meeting was adjourned at 10:15 a.m.

Signature:______Date:______