Msca annual Meeting Notes – 12/7/13 Members Present
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- CALL TO ORDER
- OLD BUSINESS
- NEW BUSINESS
- ELECTION OF OFFICERS
| MSCA Annual Meeting Notes – 12/7/13
Members Present: Brian Cotner, Leigh Ann Davis, Joel Wenzel, Doug Fotia, Jean Sabbagha, Marty Everhard, Libby Everhard, Roger Newsome, Kathleen Newsome, Mary Davis, Larry Davis, Brannon Greene (for Jim Greene), Mr. & Mrs. Jim Crowe CALL TO ORDER: Doug Fotia, President, MSCA, calls meeting to order at approx. 10am ROLL CALL/VERIFICATION OF QUORUM MADE: James Glasgow of Rent Charleston confirms quorum is achieved, lists owners who have given their proxy to others READING OF LAST YEAR’S MINUTES: All members present are given several minutes to read the minutes from the 2012 meeting and ask questions. Owner Jean Sabbagha asks questions about the budget for the coming year related to hazard/flood insurance, is reminded by HOA Board member Doug Fotia that the discussion of the year’s budget comes after the 2012 year minutes are approved. An owner present raises a motion to approve last year’s minutes, the motion is seconded by another owner, the motion being approved. OLD BUSINESS: HOA President and board members discuss several issues pertaining to the past year’s budget including the following: Review of capital improvement projects such as the front gate lock and painting, maintenance work on buildings including roof and window repairs, questions on the part of a few owners (Jean Sabbagha, Christine Alderman) regarding the cost of hazard/flood insurance and how the regime (HOA) uses the insurance to pay for any claims. HOA Board members Doug Fotia, Brian Cotner and Leigh Ann Davis explain that bids for the hazard/liability insurance go out yearly during the renewal period to multiple vendors for a competitive bid, each policy having a required (standared) deductible(s) needing to be met before an insurance company pays out on a claim. Current policy writer, Erik Loesch from Atlantic Shield Insurance is the broker for the MSCA policy going back to year’s 2010-present, consistently yielding the most competitive and comprehensive policy. Question & discussion of who determines whether the insurance policy is used (claims made) and under what circumstances, ensues between owners Christine Alderman, Jean Sabbagha, Brian Cotner, Jim Crowe, Doug Fotia and Leigh Ann Davis. Education on the part of policy deductibles and membership in HOA’s is given by board members and James Glasgow of Rent Charleston. Owner Jean Sabbagha motions to begin review of current year budget, the motion is seconded by another owner and approved. 2014 Budget: Proposed budget for calendar year 2014 is reviewed by all owners present. Discussion ensues about specific line item increases and allocations, including Flood Insurance, maintenance and landscaping. James Glasgow of Rent Charleston speaks to the national issue of Flood Insurance and the planned part on the Federal government to cease subsidizing the cost of insurance which would over 4 years, shift the cost back to the owners of properties, thus increasing the cost. A motion is tabled to approve the budget, seconded by an owner and approved. NEW BUSINESS: Doug Fotia speaks about the cost of repairing the foundation of 313 Meeting Street, the initial stabilization phase having been completed and the need to finish the work which would include repairing the sill plate and recreating the foundation piers that the sill plate rests on. Talk of obtaining bids to finish the project potentially in the fall of 2014, estimated at approximately $50,000 ensues between owners and how this project would be paid for, discussion regarding a special assessment over multiple payments, single payments, whether it should be placed into the budget as a maintenance item, etc., a motion tabled to obtain bids during the year and work the cost into the special assessment(s) is put forward by an owner, seconded by another owner and the motion is approved. In addition, it is mentioned that in consult with the MSCA lawyer, there have been a few recommendations made as to changing the master deed to a) suspend conducting a replacement cost appraisal on a yearly basis b) ensuring that the descriptions of what is covered under the master deed and by-laws can not be manipulated or mis-interpreted by insurance companies. The final review by the MSCA lawyer will be produced and offered to owners for a vote this year. ELECTION OF OFFICERS: The current board members Doug Fotia, Brian Cotner and Leigh Ann Davis are elected for another term. ADJOURNMENT: A motion by an owner to adjourn the 2014 meeting of the MSCA is brought to the table, seconded and approved, ending the 2014 MSCA annual meeting at approx. 12:15pm Directory: wordpress -> wp-content -> uploads -> 2013 uploads -> Victim participation in criminal procedures uploads -> Bury st edmunds hockey club uploads -> Professor rona s beattie and dr david bamaung glasgow caledonian university email for corresponding author uploads -> Best Offensive Players: qb #19 keenan reynolds, N, ’16. Lg #57 E. K. Binns, N, ’16 uploads -> Smart Supervision Research Partner Orientation Course fy13 and fy14 Grantees September 29- october 1, 2015/San Antonio, tx uploads -> Autonomous Control for a Reliable Internet of Services (across) 2013 -> Pxcsf spring Meeting Notes 5/1/13 pxcsf mission Statement 2013 -> Opening report 2013 -> Michael Jensen position title Download 6.32 Kb. Share with your friends:
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