Call to Order:
The meeting was called to order by President Jerry Britton at 6:00 p.m.

Establishment of Quorum:
Board members present were Gerald Britton, Nicole Combs, Michael Sciaino, Don Drake and Jason Andersen
Richard Stewart attended via a speaker phone.
Kathy Watts represented Dragon Property Management.

Approval of Minutes from September 9, 2019 Board Meeting:
Jason Andersen made a motion to approve the September 9, 2019 Board Meeting minutes. Don Drake seconded the motion and the motion passed by unanimous voice vote.

Treasurers Report: Manager Kathy Watts reported that all bills are paid and the Reserves are being funded on time. We have put liens on two (2) and collecting rent checks from the tenants. One unit is in the process of being foreclosed on. One unit that was previously a bank foreclosure was sold at auction and we received all the funds due. We also received the $30,000 that was promised when we signed the Spectrum contract which was added to Reserves. Due to the terms of the Land Lease contract, the Land Lease fees with increase in 2020. One bedroom will be $64.50 and a two bedroom will be $86.00. Owners will be notified with the next mass mailing. Don Drake made a motion to accept the Treasurers Report. Jason Andersen seconded the motion and the motion passed by unanimous voice vote.

Old Business:

New Business
Approve 2020 Budget: Monthly assessments will not increase for 2020. Michael Sciaino made a motion to approve the 2020 Budget management presented. Don Drake seconded the motion and the motion passed by unanimous voice vote.

Cap on expenditures without Board Approval: Rich Stewart made a motion to allow the President to make repairs and do maintenance with a cap of $2,000 per occurrence. Any expenditure over that will need approval from a majority of the Board. Nicole Combs seconded the motion and the motion passed by unanimous voice vote.

Pool fence: Jerry Britton made a motion to proceed with the replacement of the pool fence by Carries Fencing at a cost of $13,106 with a 50% deposit to be charged to Reserves-Deferred Maintenance. Don Drake seconded the motion and the motion passed by unanimous voice vote.

Pool deck: Jerry Britton made a motion to repair and repaint the pool deck at a cost of $4,800. Don Drake seconded the motion and the motion passed by unanimous voice vote.

Ditch: Jerry Britton explained the need to clean out the west ditch and made a motion to charge the expenditures for the Bobcat and piping to Operating at a cost of approximately $1500. Jason Andersen seconded the motion and the motion passed by unanimous voice vote.

Trees: Jerry Britton made a motion to removed additional dead trees by D Bldg. at a cost of $10,500 with the expenditure charged to Operating. Don Drake seconded the motion and the motion passed by unanimous voice vote.

Fund Transfers: Jerry Britton made a motion that would require two (2) signatures and Board approval for and transfer of funds over $20,000 from CD’s. Don Drake seconded the motion and the motion passed by unanimous voice vote.

Current Projects:

Announcements:
-The annual meeting is scheduled for Tuesday, February 10, 2020 at 6:00pm at the Titusville, Library. First notices will be mailed by November 10, 2019.
-Rich Stewart announced his resignation from the Board due to the sale of his unit. The Board thanked him for his service.

Next Board Meeting: The next scheduled Board meeting will be on Monday, December 09, 2019 at 6:00 p.m. in the on-site office.

Adjournment:
With no further business to discuss, Jason Andersen made a motion to adjourn the meeting at 6:40p.m. Don Drake seconded the motion and it passed by unanimous voice vote.

Respectfully submitted,

Kathy Watts
Kathy Watts, CMCA, LCAM
Dragon Property Management
Board of Directors, Camelot Residences Association, Inc.