Meeting of the Board of Directors of Aquarius Condominium
- Date: Tuesday, December 1st., 2015 Time: 7:00 pm
- Location: The Residences Condominium Social Room- 1stFloor
- 3001 S. Ocean Drive, Hollywood, Florida 33019
Minutes of the Board of Directors Meeting
1 – Meeting called to order 7:01 pm.
2 – Proof of notice of meeting: certified by the BOD Secretary.
3 – Quorum certified by Association General Manager David Slavin, four BOD members present: Ilya G., Eugenia V., Linda S., Sofia F. present. Boris E. absent. A large number of owners and some guests present.
8 – Item 8 of the Agenda: Recovery of late assessments payments – addressed by Ralph Rocco representing the Law Firm Eric Glazer. In October there were 25 units in arrears that were at the Law Office for recovery. Now there are 13 units in arrears. The collection efforts gathered about $ 100.000 (one hundred thousand dollars). Three units are in foreclosure procedures with an additional unit in the process to be foreclosed. Aquarius Condo. Association has about 6% of delinquencies. This, in the opinion of the lawyer, could be considered not bad. Every meeting Bill Coleman (Atlantic Pacific) will disclose financials with the purpose to provide transparency.
4 – Minutes of October 29, 2015 approved.
5 – Forensic Audit Goal to end question of Trump money has been approved. MDD Corp. to be hired for the forensic audit work covering years 2009 to 2012. Cost of forensic audit not to exceed $ 9500.00. Our Auditors License on line if he lied about our audit in the past. Ilya G., BOD President wants an end to suspicion about Trump Money and have the audit. The motion passed unanimously. Bill Coleman (AP) says culture is important in a business. People have to get along. Aquarius should have had reserves for the past 30 years. The building needs to be managed proactively. With investment property values will go up. Future assessment must be well explained; they should always have a minimum of three competitive bids and show the necessity.
6 – Sound System in specific areas. Cascade Room should have 4 microphones and loudspeaker. Also a large screen and projector should be included. Background music in the Lobby, Green Room and Cascade Room.
7 – Replacement of garage lights requires City of Hollywood permit. This project done correctly will be part of the 40 year recertification.
9 – President’s Report:
- Restaurant is open.
- Valet Parking in 2 weeks.
- Line of credit of $ 1.5 million has not been used yet.
- 40 Year Inspection effort: 6 proposals have been collected. Additional 4 more proposals to be collected as suggested by Bill Coleman (AP). Then present it to unit owners to choose 3.
- 2016 operational budget to be ready by the end of the week.
- Lobby to get doors by week of December 7, 2015.
- Mold in the old kitchen by Cascade Room to be remediated. Firm to do work to come next week.
- Negotiation in progress with West Deck Planters Manufacturer
10 – Meeting adjourned 8:50.
Minutes recorded and submitted by Linda Satz, Board of Directors Secretary of the Aquarius Condominium