Summary Update from February meeting can be found in the bold print.
Minutes
The Cypress HOA Board of Directors Meeting
February 1st, 2021
Attending:
Stephen Bell, President, Phyllis Zust, Treasurer, Keith Schmode, Secretary, Stacy Graves, Management, Todd Miller, Legal Counsel joined the meeting at 12 Noon.
Call Meeting to Order: President Stephen Bell
President Stephen Bell called the meeting to order at 11:00 A.M.
Approval of January 4th, 2021 Minutes HOA Board of Directors Meeting: The January 4th meeting minutes of the HOA Board of Directors Meeting were approved as submitted by Keith Schmode, HOA Board Secretary.
Management Report: Stacy Graves, Manager
The resident from Majestic with the Stop Kit attached to Dock A has been contacted. He has had the opportunity to speak with Poly Lift personnel regarding actual and potential damage that these kits can inflict on a dock. It will be necessary for the Board or the Dock Committee to send a letter to the owner explicitly stating that Stop Kits are not allowed on any of our docks. (Letter to the individual using a stop kit was sent after being review by legal counsel) Stephen Bell will also contact the Majestic HOA President to let them know a letter has been sent.
Ameren will hold a hearing on March 8tht to review our request for buoys to be placed 100 feet from our docks. We are optimistic that the request will be approved. Ameren has offered to meet with the Dock Committee to discuss how good maintenance will help preserve our docks.
Rod Spooner (Peninsula Construction) has provided Stacy with Cad-5 plans for the building. We do not currently have a Cad program to access these plans. More research on procuring a program as well as ongoing discussions with Rod Spooner for other options will be pursued. Rod will also provide the Board with his assessment on the life span of major components and equipment within the building. The onsite laundry room for cleaning personnel will be finished the week of February 8th and the new floor scrubber has arrived. Russ Gaskin (HOA
employee) is temporarily working two days a week with Peninsula Construction to facilitate the ongoing process of construction cleanup and storage of excess construction material. Management has completed the parking layout for the Holidays. Staff have saved our HOA approximately $7,500 by taking on various projects that we typically would have payed vendors to complete.
Old Business:
• Stacy G. and Jack Davis (Developer) had an extensive discussion with Schindler regarding ongoing maintenance concerns with our elevators. Schindler has submitted a new service agreement in an attempt to address most of those concerns. A new elevator service company (Allrise) has also submitted a proposal for our consideration. The Board had considerable discussion regarding the positives and negatives of each service proposal, including the cost of discontinuing the contract we currently have with Schindler. Since Jack Davis (Developer) has had discussions with both providers it was decided that the Board would ask him for his
recommendation based on all of the information and feedback he has received. (Jack Davis recommends that we stay with Schindler for now. Their most recent service proposal is under review by the Board)
• Stacy G. met with Central Bank and we will soon be receiving our HOA checks. The ACH process will also be activated shortly. Treasurer Phyllis Zust has instructed Laurie Reichert (accounting) from the Developers office that the Board would like all Cypress funds transferred to the new accounts we have established at Central Bank by the end of February. (Most all of the funds have now been transferred to our HOA accounts at Central Bank)
New Business:
• Treasurer Phyllis Zust contacted Dennis Weisenborn, Cypress resident and former Ameren executive, to gain some of his insight on establishing adequate reserves and managing our Reserve Funds. Dennis stressed that it would be very important to establish the useful life of the major components of the building. Phyllis Zust, Board Treasurer, recommended that the Board establish a Finance Committee comprised of five Cypress Owners. The purpose of this committee will be to oversee and recommend to the Board how our HOA Reserve Funds should be invested. The committee will also be tasked to assess and establish the useful life of
our major building components. Keith Schmode, Secretary, and Stacy Graves, Management, were tasked to submit the names of five Cypress owners to serve on the Finance committee by the Board’s March 8th meeting. They were also instructed to make a recommendation for Chair of this committee. (Names were submitted including a recommendation for Chair of this committee).
• Todd Miller of Miller Law joined the Board meeting at 12 noon. He reported on his research with the County Assessor’s office. The Assessor has an extensive file on The Cypress. Todd will examine the file and all material with the recorder of deeds. There were no outstanding liens on the property. Todd stressed that it would be important for all warranties on equipment be transferred to the HOA at closing.
The Board instructed Todd that securing a copy of the Master Association Agreement which governs The Cypress project and adjacent land outside our gate is critical to the HOA’s understanding of any amenity or other agreements that may have been made as part of the Developer’s overall project. (Jack Davis has sent the Board a copy of the Master Agreement). He will continue to work with the Developer’s attorney (Todd Billy) to locate a copy of that Agreement as well as any other cross easement agreements.
The Board outlined a variety of other issues such as boundary adjustments, deed restrictions on undeveloped land, road maintenance, drainage etc. that all should be added to the closing checklist. The Board has Instructed Todd Miller to submit his completed list of all issues that need to be resolved prior to closing by our March 8th Board Meeting. He has also been tasked to meet with Todd Billy (Developer Attorney) and project any closing costs that may be incurred by the HOA.
• The next meeting of The Cypress HOA Board will be via zoom on March 8th, 2021
• The Cypress HOA Spring Meeting has been set for April 10th, 2021 from 9:00 A.M. to 11:00 in the lobby of The Cypress.
Adjournment:
The meeting was adjourned at 2:00 P.M. by President Stephen Bell.
Respectfully submitted
H. Keith Schmode (Board Secretary)