*** Minutes of Condo Board of Directors meeting Nov. 29, 2017***

​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​MARBELLA ​ ​LAKES ​ ​CONDO ​ ​BOARD ​ ​MEETING ​ ​MINUTES
​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​                                    NOVEMBER ​ ​29, ​ ​2017
AGENDA
1.CALL ​ ​TO ​ ​ORDER
​ ​The ​ ​meeting ​ ​was ​ ​called ​ ​to ​ ​order ​ ​at ​ ​6:00 ​ ​pm ​ ​by ​ ​Tony ​ ​Venez
2. ​ ​ESTABLISH ​ ​A ​ ​QUORUM
A ​ ​quorum ​ ​was ​ ​established ​ ​with ​ ​3 ​ ​board ​ ​members ​ ​present ​ ​;
Mildred ​ ​Tufano, ​ ​Kathie ​ ​Byrnes ​ ​and ​ ​Eileen ​ ​Shanbrom ​ ​on ​ ​the
Scura ​ ​was ​ ​unavailable.
3. ​ ​PROOF ​ ​OF ​ ​NOTICE
Notice ​ ​was ​ ​mailed ​ ​out ​ ​by ​ ​GRS ​ ​14 ​ ​days ​ ​prior ​ ​to ​ ​this ​ ​meeting
4. ​ ​APPROVAL ​ ​OF ​ ​MINUTES
The ​ ​October ​ ​minutes ​ ​were ​ ​posted ​ ​on ​ ​the ​ ​website. ​ ​Mildred ​ ​m
approve ​ ​the ​ ​minutes. ​ ​Tony ​ ​second ​ ​the ​ ​motion. ​ ​All ​ ​were ​ ​in ​ ​f
minutes ​ ​were ​ ​approved.
5. ​ ​TREASURER’S ​ ​REPORT
$ ​ ​​ ​241,070.17 ​ ​​ ​​ ​​ ​​ ​​ ​​ ​CASH ​ ​​ ​IN ​ ​OPERATING ​ ​ACCOUNT
$ ​ ​​ ​771,649.88 ​ ​​ ​​ ​​ ​​ ​​ ​​ ​TOTAL ​ ​CASH ​ ​RESERVES
$ ​ ​​ ​​ ​​ ​10,072.79 ​ ​​ ​​ ​​ ​​ ​​ ​​ ​ACCOUNTS ​ ​RECEIVABLE
$1,044,626.34 ​ ​​ ​​ ​​ ​​ ​​ ​ASSETS
$ ​ ​​ ​​ ​167,627.63 ​ ​​ ​​ ​​ ​​ ​​ ​LIABILITIES
$ ​ ​​ ​​ ​​ ​​ ​39,149.74 ​ ​​ ​​ ​​ ​​ ​​ ​TOTAL ​ ​OPERATING ​ ​SURPLUS

6. ​ ​APPROVAL ​ ​OF ​ ​2018 ​ ​BUDGET
The ​ ​budget ​ ​proposal ​ ​was ​ ​attached ​ ​to ​ ​the ​ ​notice ​ ​mailed ​ ​out ​ ​by ​ ​GRS.
Mildred ​ ​motioned ​ ​to ​ ​approve ​ ​the ​ ​budget. ​ ​Tony ​ ​seconded ​ ​the ​ ​motion. ​ ​The
motion ​ ​passed ​ ​with ​ ​all ​ ​in ​ ​favor.
7. ​ ​NEW ​ ​BUSINESS
Mildred ​ ​stated ​ ​that ​ ​any ​ ​surplus ​ ​in ​ ​the ​ ​December ​ ​budget ​ ​will ​ ​be ​ ​put ​ ​in
reserve ​ ​for ​ ​the ​ ​removal ​ ​and ​ ​replacement ​ ​of ​ ​the ​ ​back ​ ​oak ​ ​trees. ​ ​This ​ ​project
will ​ ​be ​ ​starting ​ ​soon. ​ ​The ​ ​street ​ ​oak ​ ​trees ​ ​are ​ ​the ​ ​responsibility ​ ​of ​ ​the ​ ​HOA.
At ​ ​this ​ ​time, ​ ​the ​ ​board ​ ​is ​ ​waiting ​ ​for ​ ​estimates ​ ​from ​ ​Advanced ​ ​Roofing ​ ​as ​ ​to
the ​ ​cost ​ ​of ​ ​repairs ​ ​for ​ ​units ​ ​with ​ ​leaks. ​ ​The ​ ​gutter ​ ​and ​ ​downspout ​ ​repairs
will ​ ​not ​ ​take ​ ​place ​ ​until ​ ​sometime ​ ​in ​ ​January ​ ​due ​ ​to ​ ​the ​ ​backup ​ ​from ​ ​Irma.
All ​ ​Irma ​ ​repairs ​ ​will ​ ​be ​ ​paid ​ ​for ​ ​by ​ ​the ​ ​existing ​ ​surplus ​ ​. ​ ​Any ​ ​remaining
surplus ​ ​will ​ ​be ​ ​designated ​ ​for ​ ​the ​ ​oak ​ ​tree ​ ​removal ​ ​and ​ ​replacement
project. ​ ​Irma ​ ​repairs ​ ​are ​ ​estimated ​ ​at ​ ​between ​ ​$10,000 ​ ​and ​ ​$12,000. ​ ​This
includes ​ ​purchasing ​ ​and ​ ​hanging ​ ​shutters ​ ​, ​ ​purchasing ​ ​and ​ ​installing
mailboxes, ​ ​installing ​ ​downspouts.
Tony ​ ​announced ​ ​that ​ ​the ​ ​annual ​ ​meeting ​ ​has ​ ​been ​ ​moved ​ ​to ​ ​February ​ ​1,
2018 ​ ​. ​ ​First ​ ​notices ​ ​of ​ ​the ​ ​annual ​ ​meeting ​ ​will ​ ​be ​ ​sent ​ ​out ​ ​by ​ ​GRS ​ ​on
December ​ ​3, ​ ​2017. ​ ​Tony ​ ​emphasized ​ ​that ​ ​we ​ ​need ​ ​at ​ ​least ​ ​3 ​ ​members ​ ​to
constitute ​ ​a ​ ​board ​ ​and ​ ​avoid ​ ​receivership ​ ​but ​ ​5 ​ ​members ​ ​are ​ ​still ​ ​needed
for ​ ​an ​ ​effective ​ ​board. ​ ​​ ​If ​ ​you ​ ​are ​ ​willing ​ ​to ​ ​be ​ ​seated ​ ​on ​ ​the ​ ​board, ​ ​your
letter ​ ​of ​ ​intent ​ ​must ​ ​be ​ ​received ​ ​by ​ ​December ​ ​23. ​ ​The ​ ​form ​ ​will ​ ​be ​ ​included
in ​ ​the ​ ​GRS ​ ​mailing ​ ​along ​ ​with ​ ​instructions ​ ​and ​ ​other ​ ​necessary ​ ​information.
8. ​ ​ADJOURNMENT
Tony ​ ​adjourned ​ ​the ​ ​meeting ​ ​at ​ ​6:12 ​ ​pm.

Thomas Large
Property Manager
Marbella Lakes H.O.A  “Proudly Managed by GRS Management Associates
6664 Marbella Lane, Naples, FL 34105
| www.marbellalakeshoa.com
D: 239-430-5690 |  F: 239-262-0113

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