October 03, 2011 @ 01:03 AM

LAS PALMAS COMMUNITY ASSOCIATION – BOARD MEETINGS

MEXICO SEPTEMBER 9 &10, 2011

Present for Board Meeting : Jaana Ponzia, Bruce Turner & Dan DimovskI

 

BOARD REVIEW OF F& B

·       Update on F&B for June, July,

·       Food Rent $300.00    Service Rating:  7.75

·       Beverage: $300.00     Service Rating:  8.25

·       Reserved Parking for F&B: Francisco to paint next week

·       Security bands for F&B visitors only

 

BOARD REVIEW OF FUTURE CAPITAL EXPENDITURES

Francisco Report on the major future capital expenditures. Needs to start allocating reserve funds:

·       Water filtration system: Working OK, service pumps and filters. Good for another 5 year

·       Water Slide: Have a broken area. Need to fix it. Francisco will replace partial area in 30 days. The water slide has an additional projected life span of five to ten years.

·       Balcony Railings Replacement: Replace cost to new glass and aluminum frames for all 132 units $80,000.00. Will continue to monitor. (Five more years of life expectancy of current railings)

·       Elevators : Good conditions can be good for 20 years or more.

·       Roads: good for 5-7 years and then we can flip the interlocking bricks over.

·       Sidewalks & Walkways: same as above

·       Air conditioning for clubhouse: Right now were not heating and cooling certain clubhouse areas. Look     into  isolating zones

·       Painting of all community: Painting every four years ($80,000.00 at current costs)

LAS PALMAS FINANCIALS

Las Palmas Mexico account carried over from 2010                       $19,900

Wire Transferred to Las Palmas January to August                       $402,127

EXPENSES NOT IN BUDGET                                                        

Federal Zone Issue                                                                          $21,726

Chaise Lounge Importation Expense                                               $19,736

Dolphin Building Painting                                                                 $15,305

OPERATING EXPENSE JAN-AUGUST 2011                                $357,831

TOTAL EXPENSE JAN-AUGUST                                                  $414,644

PENASCO'S OPERATING ACCOUNT BALANCE AS 8/31/11         $7,363

 

LAS PALMAS FINANCIAL STATUS –YEAR TO DATE

Financial Status as of August 31,2011                                           

Operational checking -                                                                     $64,017

Reserves                                                                                          $98,432

Savings                                                                                            $39,050                                     

Total                                                                                               $201,499

C.D                                                                                                $122,833

TOTAL ASSETS                                                                            $324,333

RENTAL  IMPACT FEE INCOME

January - March                                                                                $1,767

April- June                                                                                      $17,120

July- September                                                                            Not Rcvd

October- December                                                                      Not Rcvd

TOTAL IMPACT FEE INCOME - YEAR TO DATE                         $18,887

ALL RENTAL INCOME

RENT INCOME FROM BUSINESS TENANTS        F&B            DOLPHIN

January - March                                                      $2,086             $6,000

April- June                                                                 2,485             $9,225

July- September                                                                              $2,362

October- December

TOTAL RENT FROM BUSINESS - YTD                 $4,571           $17,58

-     Reviewed the budget and all board members in agreement. Still in the black

·     Reviewed wiring of money all board members

·     Collections- any one with an over due balance as per our CCR will be turned over to our attorney for liens and collections. Anything as per our CCRs regarding late and interest attorney fees etc. will be collected.

LIEN STATUS & ONGOING OR PENDING ISSUES

·  Villa 1 delinquent status ( Need to go after money owed & do whatever it takes to gain control of villa till ownership dispute is resolved) Need Proof of ownership and implement Restricted access No access or trespassing onto common grounds

·   Need to get Attorney Casto on the same page and have him use his full resources to deal with Villa1 : No one enters Las Palmas common grounds from front get nor beach access until proof of ownership

SECURITY STATUS

·       Need to have Security have accountability of who is coming and going.

·       Implement check process for guests owners and visitors for F&B

·       All visitors need to have arm bands for F& B guests

REMAINING PROJECTS  SCHEDULED TO BE COMPLETED BY END OF 2011

·       All Painting of buildings completed including railings

·       Lava Rock for all resorts completed

·       Gate inside clubhouse

·       New computers and large LCD TV

·       Steam Room - New control panel

·       Baja & Grande Cool decking

·       Update and renovate pool slide - new skews and seals

·       Chaise Lounges delivered and 100 pcs to be assembled upon arrival of cushions.  Balance to be kept in inventory reserve.

·       Chaise Lounge cushions - (Dan to get stain resistant Sunbrella cushions $130.00 -$150 per unit before the end of year)

-       Broken Light Fixtures
        Francisco estimates that 30 broken light fixtures need to be replaced
        Osvaldo suggested an improved lighting plan to implement
        Bruce agreed to supervise to completion

 -      Landscaping
        Dying plants, shrubs will be replaced.
        Additional shrubs need to be added.
        Completion by NOV 15th

 

LAUNDRY ROOM DRAIN INSTALL PROJECT – Infrastructure

  • Install drainage in all second floor and above condo laundry rooms -  Approved $19,000.00 for  the   contractor labor costs and $11,000.00 material .
  • Expected period of work between October 20,2011 – November 20, 2011. 
  • Dan to manage and over see project

LONG REALTY / CASTAWAYS

The HOA entered into a preliminary agreement with Long Realty/Castaways Vacation Rentals as follows:

  • TERM OCT 1, 2011 to JAN 31, 2012
  • To occupy the space formerly leased by the developer as a sales office.
  • Agrees to pay 1% of successful sales of Las Palmas properties
  • Agrees to pay their share of utilities.
  • Nature of the business is to be real estate sales, long term rentals, and short term rentals.
  • Castaways must collect impact fees consistent with the impact fees collected by Dolphin Rentals, should Castaways complete any short term rentals during this period.
  • Castaway and its representatives are to not solicit Dolphin Rental onsite guests and or customers regarding short term rentals.

Furthermore, Long Realty/Castaways Vacation Rentals agreed to conduct a feasibility study and make a presentation to the General Membership about the services they offer at the HOA Meeting of Jan 21, 2012.  After Jan 31, they will have an option to rent long term at the same rate per square foot as other tenants in the clubhouse.  Further details will be published on website when confirmed.

HOA VEHICLE REPLACEMENT
  • Vehicle for Las Palmas no longer operational  (minivan replacement cost of $5000.00)
  • Board approved up to $5000.00 for Francisco and Osvaldo to purchase a vehicle from Mexicali .
  • Required to sell old vehicle first and us the money towards new vehicle.

Staffing

  • Francisco states he has re-valuated job descriptions and supervisory personnel.
  • Implemented labor cost savings measures where former supervisors would participate in completing daily duties.
  • Staff will rotate trash pickup and removal to be fair to all employees
  • Part time staff will be budgeted for June, July & August

2012 Budget

  • Francisco & Osvaldo agreed to consider each others input in preparing 2012 budget.
  • Two budgets will be prepared and ready for the NOV board meeting. The first is to be LESS than current budget of $590K.  A second budget will include the additional cost estimates for a new cooling schedule for the clubhouse and a more frequent pool heating schedule.
  • Budget proposals need to also reflect the extra, part time, and temporary employees w/ previous years and a comparison of utilities expenditures, so the membership can vote intelligently on the costs of pool heating and clubhouse AC.

              ALTERNATIVE ENERGY PROJECT

             Club House Heating Alternative
  • Approved funds for Solar Feasibility 10-15K.
  • Dan to coordinate study with assistance from Bruce and Jaana.
  • Dan has identified two contractors and Engineers that do solar projects on beach front properties in the Texas , California and Florida area.
  • Expected completion by January 2012.
  • Feasibility study results to be presented to the owners at owners meeting.

Tankless Water Heaters

  • Committee Chair R Anfuso acknowledged we had sufficient orders to move forward at the special vendor pricing.
  • Vendor requires 50% payment; approved provided that:
  • No water heater will be ordered or installed at the special price for any owner who is delinquent with HOA fees.
  • Owners are to be billed immediately for the OCT 1 statements, to assist our cash flow.

Upcoming Dates:

  • Board set the next Home Owners General Assembly Meeting for January 21st
  • Next Board meeting to be determined for a NOV date.

              Board meeting adjourned