Annual Meeting
The meeting started at 9:00 a.m.
Present: Pat McDermott, Bill Grant, Doug Maguire, Roger Hultgren, Barry Farquharson, Wes Forbes and Bruce Whitehead
Condo Owners present are the following:
Ronald & Janet Daly
Bob Curtin
Daniel & Margaret Perkins
Phil & Liz Benotti
Paul & Jeanette Murphy
Dennis & Mary Duggan
Al Chilson
Ken Cournoyer
Jeff & Stephanie Berenson
Chris Hannon
Brian & Linda Berlind
Charles & Carol Buzanis
Pat Whitehead
Kathy Grant
Gary Farrow
Richard Klaubert
John Clifford
Tom Grassa
Ian Vogt
Kathleen Hultgren
David & Patricia Cressman
Peter & Kathy McCabe
Neil Cowan
Bud McGinn
Andy & Joanne Richard
Linda Constantineau
Victor & Susan Alves
Michael Carrafiello
John Egolf
Robert Glennon
Alfredo & Susana Chan
Donald & Gretchen Knapton
Robert DeFabrizio
Richard & Tammy Jerome
Cilla & Jim Gelunas, Reps for Mike & Maria Ford
Pat welcomed everyone to the meeting. She told the owners that we now have 48 out of 50 owners on e-mail. She thanked all the owners for their responses to the surveys.
Doug presented the projected results for 2007, which has total revenue of $160,670.00, which is on budget.
The projected excess of $4,740.00 will be transferred to the reserve fund.
The 2008 budget, he has estimated total revenue of $160,670.00, which means no change in condo fees.
Ending balance in the reserve fund is projected to be $63,856.57, of which approximately $53,000.00 will be used in early 2008 to finish reproofing the remaining four units in phase I.
Phase I & II condo owners will receive bills for chimneys cleaning on an as need basis.
Bill Grant informed the owners that 2 companies will submit bids for our property and liability insurance. Two companies chose not to bid. The phase three well pump had to be replaced do to a blown NH Co-0p transformer. New Hampshire Co-op refuses to pay saying the power outage was caused by the golf nets. If this is the case the association is expecting to be reimbursed by Bethcat.
Roger Hultgren reported that there is still wood left for the coming season. Those interested should contact Wes directly. He reminded the owners to install non-burst hoses on the washing machines. Thermostats should be set at 55 degrees and to leave cabinet doors open, as unit checks will begin in November. Roger reminded the owners the maximum number of adults is 6 per unit per town regulations. Roger asked to keep Wes informed about winter rentals so he is informed of what is going on in each individual unit. Roger gave an update on Wifi. If all 50 owners get service installed it would cost $19.95 per month added to each condo fee for all owners. This means the participation of all 50 owners. Roger will get a copy of the contract that will be passed on to all the owners for their review at the March meeting.
Pat gave an update on the outdoor pool use and the new bathrooms. She said the most missed item was the spa. We have had 3 surveys to get the best consensus from the owners. Pat updated the owners on the new cabana expenses that have been sent to all owners. The 2 solar structures both will require foundation work and such cost is unknown. The 3rd bid by PIB requires no foundation work and would be more in line aesthetically with our present buildings. We can save our air handling system but it will need approximately $10,000.00 to update/relocate. The pool in the cabana is not worth repairing, and is not up to current building codes. It would be cheaper to replace it with a new pool and spa. The 3 new pool bids include an automatic pool cover that will reduce the loss of pool heat and also reduce the moisture inside the building. Although the cover will cost approximately $20,000.00, the BOD, at this time, feels it is worth the expense. The new pool cabana will have one unisex bathroom and shower that will be handicapped accessible. Landscape around the cabana will be decided at a later time. Some existing trees will need to be removed before the new construction begins. Pat informed the owners; first the BOD needs a majority of the owners to support the new construction before moving forward with a special assessment. Second, the BOD will choose a Clerk of the Works and/or general contractor to oversee the project. The BOD therefore feels a $10,000.00 per unit special assessment will be needed to complete the project.
Unit 32 Pat Cressman – The Ford’s benefit from all of the owners and the cabana and wanted to know what their plans are for participation? Pat responded that the BOD had sent them a proposal on 9/22/07 and BOD had not heard back from them.
Unit 26 Gary Farrow – He would like to see the project get going as soon as possible. Pat said she agreed but first all association members must be on board and that the project should be completed in six months.
Unit 41 Mike Carrafiello – Asked Pat to explain the assessment process? Pat responded that it is up to the BOD to decide the cost and collect from the owners according to association’s bylaws.
Unit 47 Bob DeFabrizio – Questioned the Bethcat proposal to take over the grounds maintenance? Pat said it was for the year 2008 and for six months only and did not include heat for the outdoor pool. Since the BOD had not spoken directly with Bethcat, no other information was available.
Unit 36 Andy Richard – Asked if we could wait for one year to begin the project? Pat said in that case, the BOD would in all likelihood ask for $1,000.00 per month for 12 months to cover increased cost.
Unit 48 Tammy Jerome – Asked about the one pool option? Pat said the cost would be even higher because the outdoor pool would need a foundation, which currently does not exist. Tammy asked how do we know if all the money will be used the way it should be? Pat said the BOD is responsible for overseeing the collection and spending of all condo fees. This project will be handled with the same oversight and scrutiny.
Unit 13 Dennis Duggan – Asked if $10,000.00 would be enough to cover expenses to repair the game room and a fitness center? Pat said the special assessment would be for the cabana building, but the BOD would like to finish the whole project if possible, but there where no guarantees. Dennis then said that the owners have been lucky at the Jack and we should look at the project as a good investment.
Unit 36 Joanne Richard – Asked if the outdoor pool would still be heated after the project is completed? Barry said that after the project is completed the outdoor pool would not be heated at all. The new solar facility should be much more energy efficient.
Unit 6 Bob Curtin – Asked if we could delay the project and begin in the spring? He also asked how can we collect from those who don’t pay. Pat responded demolition of the old cabana would probably begin in March. She then said our attorney’s would place a lien on the property of owners who do not pay their assessment.
Unit 43 Bob Glennon – Said that he agreed that the new cabana would be a good investment for the owners.
Unit 32 Dave Cressman – Said the association has a $250.00 initial assessment and asked if it could be increased to raise more money. He stated that there are 8 units on the market. Pat & Barry said yes, but it would not become soon enough to affect the project.
Unit 17 Chris Hannon – Asked how would we cover unpaid assessments? Pat & Barry both stated the project needs 100% support to move forward. That said, the BOD would do everything in its power to provide owners with various options to fund their assessments on a timely basis.
Unit 45 Don Knapton – Asked could the association sell the liens to a private lender at a higher rate? Pat said the BOD had not looked into it but we will. Barry said the BOD believed other owners had expressed an interest in being a lender to other owners.
Unit 44 Alfredo Chen – Asked how long the owners would have to pay the assessment? At this time, the BOD has not established the exact payment terms, but since the project will take no more than six months, it is anticipated that there will no more than two. All of which will need to be paid before the project can begin.
Unit 16 Jeff Berrenson – Asked the status of the latest straw pole? Bill Grant said 50% wanted to move forward, 40% had questions and several said no.
Unit 6 Bob Curtin – Asked what about some of the homeowners lending money to the association? Bill Grant said the BOD does not want to borrow money because the interest must be paid by all 50 of the owners and the BOD is unanimously against putting the association’s future in jeopardy.
Unit 36 Joanne Richard – Asked do we have to pay immediately? Pat said the BOD would decide the terms at the next BOD meeting.
Unit 22 Neil Cowan – Speaking for his daughter agreed that this project should be seen as a good investment for the condo owners. He stated that other condos in the area go for as much as $500,000 and have fewer amenities.
Unit 15 Ken Cournoyer – Asked what did the BOD ask the Ford’s for? Pat said the BOD asked for a $25,000 a year marketing fee and 25% of the cost of the cabana project.
Unit 13 Mary Duggan – Asked where are the Ford’s in regards to the project? Barry said they have not responded to the BOD proposal.
Unit 9 Liz Benotti – Asked what have other condo associations done? Pat said the others that we know of have done what we are proposing and have completed the job.
Pat asked Wes to show the different types of materials and explained the 3 options and costs. Pat also spoke about the different looks from inside and outside.
Unit 35 Bill McGinn – Said he is a new owner since November of 2006 and purchased at the Jack because he liked the way the whole association property looked. He then asked what the capital outlay looked like for over the next five years? As previously discussed, the overall reserves of the association are very light. However, the BOD is confident they will be replenished over the next several years, however, nobody knows what might come up.
Unit 31 Kathy Hultgren – Said she would like to remind the owners that the old pool and spa did not meet codes and have to be updated anyway at a large cost.
Unit 32 Dave Cressman – Stated that the tennis courts may need upgrading. He then asked what was the financial contribution from the Keating’s in prior years? Pat stated that when the outdoor pool was installed the Keating’s contributed about $25,000.00 in material and labor to a project of about $60,000.00 in total. Pat said we would like Bethcat to contribute but can’t plan on it.
Unit 13 Dennis Duggan – Said he would like to see a contribution from Bethcat but wants to go forward with the project.
Unit 37 Lynda Constantineau – Asked what is the next step for the project? Pat said the BOD needs the majority of the owners to support the project, after which the BOD would meet and vote on the terms and conditions of the special assessment.
Unit 16 Jeff Berenson – Asked what were the Ford’s referring to that the BOD did not respond? Pat answered again that it was their offer to do the maintenance for 6 months in the year 2008.
Unit 15 Ken Cournoyer – Asked who was at the meeting representing the Ford’s? Pat stated that it was Cilla and Jim. They had no comments.
Unit 50 Judy Keating – Stated that she thinks that the Ford’s may be new to running a resort.
Unit 48 Rick Jerome – Asked why didn’t we let the Ford’s in for inspection? Bill Grant said the BOD had done its job and had invited participation from all owners starting way back in March. Aside from the liability issue, our goal was to keep the project moving forward as we had already spoken to many contractors who had all come to the same conclusion. Pat added that the BOD set up two meetings over the summer with the Ford’s in the cabana and no one ever showed up at either meeting. Three of the BOD members drove up from MA and went home the same day excepting to be meeting with the Ford’s. The Ford’s also have not responded to our e-mail regarding the cabana project.
Unit 19 Charles Buzanis - Called for a vote on the project.
Unit 12 Paul Murray – Asked how firm are the bids? Pat said we had them in writing. Paul asked how would the BOD help owners who want to go forward but would like help to finance the cost? Pat said the BOD would work with those owners.
Unit 34 Susan Almeida – Asked what does the BOD want to do? Pat answered the BOD would like to go forward.
Unit 33 Pete McCabe - Said he wanted to congratulate the BOD for doing a good job and thank them for their hard work. He asked where the Clerk of the Works come from? Pat said the BOD would advertise for that job and that the clerk would be there from beginning to the end of the project.
Unit 18 Lynda Berlind – Said she was sorry but had to leave the meeting and stated that she wanted to go forward with the project.
Bill Grant asked the owners present to raise their hand if they did not want the BOD to continue with the project. David & Patricia Cressman and Michael Carrafiello raised their hands requesting the project be stopped.
Unit 27 Richard Klaubert – Asked are we saying $10,000.00 today? Pat answered no. The next step is for the BOD to vote on the special assessment.
Wes asked the owners to let him know where there are any mousetraps so he can check them.
Meeting adjourned at 11:55 a.m.
The meeting was followed by a cookout with the help of Kathy and Bill Grant.
The BOD wishes to thank everyone for their participation and their patience and would like to thank all the owners who acknowledged the BOD and thanked them for their hard work in putting all of this together.
Respectfully submitted,
Bruce Whitehead, BOD Secretary