June Board Meeting
Agenda
The Cypress HOA Board of Directors Meeting
June 1, 2021
10:00 A.M -12:00 P.M.
Call Meeting to Order: President Stephen Bell called the Meeting to order at 10:00 A.M.
Approval of May 7th, 2021 Minutes of the HOA Board of Directors Meeting
The minutes of the May 7th HOA Board of Directors Meeting were approved as submitted by Secretary H. Keith Schmode
Presentation of the Preliminary Cypress Reserve Study:
Rocky Miller of Association Reserve Studies and Consulting presented the preliminary findings of the Reserve Study commissioned by the HOA Board. All major components of The Cypress building were included in the study. The study estimated replacement and repair costs over a 50 year period. The final study will be completed by July 1st. After review by the Board it will be submitted to the Finance Committee for their review and recommendations, if any. It was recommended that there be additional inspection of our roof, sea wall and steel beams in the parking garage.
Legal Counsel Report:
Todd Miller has contacted the Developer’s Attorney, Todd Billy about the HOA’s need to obtain the easement agreement for Captiva Drive. President Bell has also contacted the Developers regarding this outstanding issue. (update: Todd Billy is drafting a new and more comprehensive easement agreement for Captiva Drive)
The Dock Committee presented a number of recommendations for Board review. Those items included not having individual meters on the dock for electrical usage since the cost is covered by quarterly assessments. Approval was given for an electrical outlet to be moved on Dock C slip L7 to the opposite finger of the slip to avoid having two lift motors on the same finger. The cost of moving the outlet will be charged to the owner of slip L8 who requested the move. The Dock Committee is also recommending a number of changes to the By-Laws which have been referred to Counsel Miller for his review. Those recommendations will be taken up at the July 19th Board meeting.
The removal of the Stop Lift Kit on Dock A has not been scheduled. (Update: The lift company who installed it was contacted and do not feel the lift needs to be removed. This is in direct conflict with what our dock experts, Horseshoe Bend, who have told us it will definitely cause damage to the Dock. Counsel Miller has been instructed to send a letter to the owner of the Stop Kit Lift on Dock A indicating that we will now take legal action if it is not removed.
There was considerable discussion regarding the proper procedure and charges for changing dock slips and/or buying another owner’s dock slip. These procedures and proper documentation have been in place for some time. Stacy G. will inform the buyers and the sellers of the proper paper work and asses the appropriate charges (update: Stacy G. has completed this)
Treasurers Report:
Treasurer Zust provided the Board with a Balance Statement as well as an Actuals to Budget Report. Year to date the HOA is meeting its budget. Health Savings Accounts have been set up for HOA employees and withdrawals will begin shortly. The cutoff for bids on our building insurance is June 15th (Update: Two bids have been received thus far)
Treasurer Zust and Community Manager Graves will meet with Evers, our accounting firm, to finish up any outstanding accounting issues related to the transfer from the Developers to the HOA as well as review the Quicken accounting program we currently use.
Community Managers Report:
Manage Graves reported that we are currently evaluating the location of our security cameras for better capturing images of license plates. There have been requests to have open houses for units being sold. The Board has decided that viewing units should be by appointment only. An insurance claim of $11,000 has been submitted for elevator repairs. (We have received $11,000 from the insurance company and it has been deposited to the HOA account) Schindler was to do a complete mechanical review of our elevators by May 1st. This is yet to be done. They will be contacted.
Old Business:
Easement Agreement Captiva Drive
Referred to Counsel Todd Miller for follow-up
Update on Stop Kit removal on Dock A
Counsel Miller will send a letter to the owner on Dock A
Purchase and placement of buoys
All three buoys are in place
Insurance claim for elevator repairs
Claim has been submitted
Update on insurance bids if they have been received
Two bids submitted. Cut off June 15th
Status of the transition from the Developers to the HOA
Progress is being made and the Board is close to finalization
Shades Task Force Update
A recommendation will be made in the near future. It is difficult to bid right now due to COVID and production being significantly behind.
New Business:
HOA Violations and Fine Procedure
This was tabled until the Boards next meeting. Todd Miller will review and make recommendations
Sample Owners Survey
Secretary Schmode propose the development of an owner satisfaction questionnaire that could be completed confidentially by owners on Survey Monkey. The Board authorized the Secretary to purchase membership in Survey Monkey and develop the questionnaire
Frequency of HOA Meetings during the summer months (discussion)
The Board will continue to meet monthly
Next Meeting:
Monday July 19th 10:00 A.M.
Adjournment: President Bell adjourned the meeting at 1:30 P.M.