Hidden Harbor

Minutes of the of the
Hidden Harbor Board of Directors
On December 14, 2017, in the onsite clubhouse

CALL TO ORDER: The meeting was called to order by Bill Allen at 6:00pm.

VERIFY QUORUM: Board members present were Bill Allen-President, Sam Bovalino-Treasurer/Secretary and Directors Frank Carotenuto and Butch VanGraafeiland. Mary Dillon-Vice President and Ken Lewis were not able to attend. Kathy Watts represented Dragon Property Management.

APPROVAL OF MINUTES:
Butch VanGraafeiland made a motion to accept the minutes from the November 9, 2017 Board Meeting as presented. Frank Carotenuto seconded the motion and it passed by unanimous voice vote.

UNFINISHED BUSINESS:

NEW BUSINESS:
Board approval of 2018 Budget:
Kathy stated that Florida Statute requires the Board to prepare a budget that includes 100% funding of reserves. Butch VanGraafeiland motioned to approve the 2018 Proposed Budget with 100% reserve funding and a monthly assessment of $443 for a 2 bedroom per month and $499 for a 3 bedroom per month. Frank Carotenuto seconded the motion and it passed by unanimous voice vote.

Discussion and results of owner vote to waive full reserve funding in 2018:
Kathy stated that Florida Statute also allows, if the Board chooses, to present a budget with less than 100% of reserve funding to the owners and to allow the owners to vote on their preference. This year’s Board has presented to the owners a choice of either 100% reserve funding at $430 for a 2 bedroom per month and $499 for a 3 bedroom per month or a budget with less than 50% of reserve funding at no more than $381 for a 2 bedroom per month and $430 for a 3 bedroom per month. Management reported that a majority of owners (needed 43) responded. Fifty-six (56) owners, voted in favor of a 2018 budget with less than 100% of reserve funding and one (1) owner voted in favor of a budget with 100% funding of reserves.
Frank Carotenuto made a motion to accept the 2018 Proposed Budget presented by Dragon Property Management with a partial funded Reserve for an assessment per month of $381 for a 2 bedroom per month and $430 for a 3 bedroom per month. Sam Bovalino seconded the motion and it passed by unanimous voice vote.

Future Projects (in order of priority):
1. Patio/Balcony Alum Railings: Porches are being replaced on a case by case basis
2. Property Lighting: New lighting will be looked into.
3. Tennis Courts: The project is on hold.

Announcements:
None at this time

Next Board Meeting: The Annual Meeting is scheduled for Wednesday, January 17, 2018 at 6:00pm.

Adjournment:
With no further business to discuss, Butch VanGraafeiland made a motion to adjourn the meeting at 7:00p.m. Sam Bovalino seconded the motion and it passed by unanimous voice vote.

Respectfully submitted,

Kathy Watts
Kathy Watts, CMCA, LCAM
Dragon Property Management
Board of Directors, Hidden Harbor Owners Association, Inc.