An Update From The Board of Directors
The board met on January 26th.
President Don commented that, as our facilities age, more repairs and replacements are necessary and that the board needs to review reserve account adequacy. No decisions will affect 2019 reserves.
Captain Will gave the Caretaker report on work underway and the landscaping progress. Building conditions will be assessed shortly to determine most urgent needs.
Ed Olson gave the Management report, including the following:
1. Water Treatment covers are being fabricated as the last part of the system enhancements. President Don added that, while very significant additional repairs were uncovered during the upgrade process, through negotiations with Water Solutions, additional costs will be covered with current reserves.
2. The owners’s boat dock needs immediate replacement. Two bids have been received, with a third bid in the works. Current replacement costs, excluding past improvements, is roughly $130k. These repairs are unavoidable. Funding options are being explored.
The board also voted to reverse its decision to increase special ferry run costs and to alter existing ferry schedule. The ferry scheduled will be revisited once more data is collected.
The cost to connect to the Little Gaspirilla Water Utility will be covered from the 2018 budget surplus and should be completed in February.
Finally, there are many projects underway to maintain Hideaway’s property values. In addition, we will once again revisit mainland parking and wifi adequacy.
Both will require input from owners to fund improvements.
The Board of Directors
Town Hall Meeting Update
On Saturday, September 22, 2018, the community hosted a very productive “Town Hall” meeting featuring our attorney, Ernie Sturges. The meeting was attended by many Unit Owners, both live and telephonically. Many questions were asked and answered. The purpose of the meeting was to discuss the pending vote too update our Condominium documents. Everyone was very complementary of work and efforts of the Document Committee and Mr. Sturges.
Subsequent to the meeting, your Board of Directors met and have requested two minor changes to the updated documents be made by Mr. Sturges. One change notes there are now 72 parking spaces, not 63. The other change was to clarify that If in future years changes to the rental policy are put up for a vote by the Unit Owners, and passed by a majority, the changes would only apply to those Unit Owners that voted for the change and would not apply to any Unit Owner who voted against the change. The change would apply to anyone who buys a Unit after the effective date of any change. However, it was made clear that the pending vote to update the documents at the annual meeting on December 1, 2018 WILL NOT change the current rental rules and policies.
We look forward to everyone voting at or before (by mail) the annual meeting on December 1, 2018. If you have any questions about the proposed updated documents, please send an email to firstname.lastname@example.org and we will respond.
Your Board of Directors and
Condominium Documents Update Project
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