Echo Cove Condominium Association Annual Meeting 2014

Agenda Call Meeting to Order Reading of the Previous Meeting Minutes President’s Report Slide Show Officer and Committee Reports Old Business Homeowner Topics for Discussion New Business Amendments to CCnR’s. Rule to restrict all owners from renting for 12 months after date of acquisition. Effectively ending instant rental income. Rule to require all owners hold and maintain unit liability policy. Election of Board of Directors 2 Positions Announcement of Next Meeting Adjournment

First Things First This is a QUICK summary of Board directed activities since the last annual meeting . We appreciate productive question and discussion but if it can wait for a board meeting this will all go much faster. All motions and decisions must appear in either Old or New Business so plan accordingly. Please come to Board Meetings If you have an issue you need discussed please submit it in advance and it will be added to the agenda. (Meetings are now 72% more FUN!)

Treasurer’s Report Financial Report as of 12/31/13: Assets on hand:  $ 33,692.26 Amount due from owners:  $ 62,864.73 Replacement Reserve on hand: $ 238,014.42 Replacement Reserve Chase:   $ 33,697.83 There are no outstanding invoices as of 12/31/13.  Two units are in collection. The Board approved the 2014 with no increases from the 2013 Budget 2014 Dues stay the same BUT Operating costs still go up! 90+ aged delinquencies at $53,699.25 ish* Heavy Spending Decks, decks, DECKS

Accomplishments Hit the RESET button! 4 New Board Members No passing of torches No passing of documents No working office No working board committees No idea about closed board sessions No real information about Allstate Claim No help from the new property manager No existing onsite manager No existing contractors Tons of repairs that are way past due Lots of angry/frustrated residents No idea what was going on Starting from ZERO

First Steps Lewis West says, “The Line Starts Here” Re-evaluate everything Check the budget Re-establish Roles and Responsibilities Got things moving forward…repaired 335 Start over on the roof repair Rebuild the documents Define a contractor list First Attempt at an on-site maintenance person Retook the courtyard foliage Get our expensive property manager doing his job

Small but HUGE Accomplishments Rebuild our office and documents To the best of our ability, as far back as we could find… Still working to add documents to echocove.org Revised and updated the House Rules There will be much more enforcement and fines! Cleaned out closets & Workspaces Handyman shop, yard tool room, paint supplies, bike room, office on 3rd floor, Cleanup up duckweed from pond & lake areas Cleared up brush from building Started pruning. Big prune in next 60 days Proactively cleared lower sewer mains and drain stacks Proactively inspected electrical breaker mains Proactively cleared downspouts & drains Replaced in-effective property manager with Jackie Decorating Committee Steered Echo Cove back on track (almost)

All anyone needs to know about Roofing The South Building Roof is DONE 30 year guarantee (Paid Warranty) New downspouts Started in July 2013 Total Cost $110,000

Still in progress… Unit damages as direct result of water intrusion Unit 335 has been repaired Unit 313 is in progress Additional units are next Please report any water intrusion so we may begin the repairs process.

echocove.org

Landscaping Committee Tree Pruning No Fertilizers or Chemicals Deck Work accommodations Seeking bids to replace N Front Concrete Seeking Bids for Railings in courtyard Seeking Bids for Courtyard Lighting Building Cleaning Windows Railings Committee Volunteers!

2014 Deck Repair Project Revised Architectural Plan (Permits Approved) Emphasis on rain water handling Haider Construction Estimated Stack Price, all 4 floors < $50K Replace Damaged structure. Remove the temporary supports! New Sliding Glass Door Double Pane Insulated Vinyl Top Mounted Glass Railings Smoked or opaque for more privacy Fiberglass Surface Coating 20 years, No Maintenance Full “pan” water protection

Opinion Poll “as is” style replacement? Vinyl, low E, bronze on both sides “as is” but white on both sides Matching windows? 4 Panel design Easier to open doors Railings to match Clear or smoked glass

Allstate Insurance Claim We are working on it. Allstate has engaged an attorney Sworn Statements were finished in January 2014….so what’s next? We are filing our “Proof of Loss” Be patient and say your prayers

Update the CCnR’s We propose all new owners must wait 12 months before they can rent out units. Limits new rentals Prevents “quick investment renting” Protects values and rights of existing owners We propose all rentals require standardized background checks, all leases be written and recorded with the property manager, and shall be for terms of no less than six months. Raise the standards of our rental market Create more stability and harmony with Echo Cove We propose every unit must have individual liability insurance Allows individual policies to handle individual incidents Small cost to prevent large expenses

We need a Schneider On Site Maintenance Contact Handyman Repairs Unit 427 Handyman Repairs Day to day upkeep Light bulbs, Drains, Litter, Towing, Paint, Drywall, Moisture Control, Leaves, Parking Lot Upkeep, Gutter Clearing… Project Management

Needed Projects Pool Area Maintenance Concrete Slab at North Entrance Pool Deck Resurface Drain Pool and inspect integrity Re-do the entry door Concrete Slab at North Entrance Repairs to individual units under the South Roof Repairs to the Courtyard Deck and Dock Repair/Replace Outdoor Lights & Sign

How do we avoid “that” from happening again? Annual Board Member Training Required Continuity Outgoing is committed to training incoming The Office Must be Maintained Members MUST Participate All owners should attend at least 1 board meeting per year. Reading Board Minutes is too minimal.

Board Of Directors Development New Procedures for continuity Outgoing position trains incoming Outgoing must attend 1 more meeting Incoming should attend at least one Board of Directors Training Seminar Being on the board is meaningful not crushing!

Volunteers…anyone…? Join a committee Landscaping Parking lot/litter patrol Sunshine Greeting Committee Need welcome baskets Garbage & Recycle Echo Lake Community Liaison Come to a Board Meetings for info!

Thank You For Your Patience On to the next agenda item.

Agenda Call Meeting to Order Reading of the Previous Meeting Minutes President’s Report Slide Show Officer and Committee Reports Old Business Homeowner Topics for Discussion New Business Amendments to CCnR’s. Rule to restrict all owners from renting for 12 months after date of acquisition. Effectively ending instant rental income. Rule to require all owners hold and maintain unit liability policy. Election of Board of Directors 2 Positions Announcement of Next Meeting Adjournment