The Overlook at Leisure World
Board of Directors Meeting Minutes
Thursday, September 25, 2007
10:30 a.m. The Party Room

Pursuant to notice previously given, a meeting of the Board of Directors for The Overlook was held on Thursday, September 25, 2007 at 10:30 a.m. in the Party Room.

Board of Directors members present: Barry Lubin, President; Joan Jones, Vice President; Bernard Silverstein, Treasurer; Bob DiLuchio, Secretary.

Board of Directors absent: Norman Dreyfuss, Director.

Also attending: Beverly Chaconas, Property Manager; Mark Ellis, Deputy General Manager; Jolene Zangardi, IDI.

1. Call to Order – Mr. Lubin called the meeting to order at 10:30 a.m.

2. Approval of minutes of Board of Directors meeting held July 26, 2007 – The minutes of the Board of Directors meeting held July 26, 2007 was approved as presented.

3. Approval of Agenda – The agenda was approved as amended: Add New Business e. L.W. Advisory Committees

4. Correspondence – There was no correspondence at this time.

5. Reports

a. President – Mr. Lubin announced that this was the last official Board of Directors meeting for Director, Bob DiLuchio. He stated that Mr. DiLuchio’s term of two years will end as of the Annual Meeting scheduled for October 3, 2007. He thanked Mr. DiLuchio for his time served as Building and Grounds Chairperson, and his two years as the Board of Directors Secretary. Mr. DiLuchio stated that he was honored to serve as a Board member and thanked all the residents for their support.

Mr. Lubin also stated that as a member of the high-rise Presidents’, he wanted to assure the residents that they are requesting that L.W. Management obtain proposals from cable companies other than Comcast. He noted that the high-rise Presidents want L.W. to hire a specialist to compose a Request for Proposal for competitive contracts.

b. Vice President – Mrs. Jones announced that the L.W. Board of Directors meeting minutes is located each month in the L.W. Newspaper.

c. Secretary – Mr. DiLuchio had no report at this time.

d. Treasurer – The financials for the period ending August 31, 2007 were approved as presented.

Mr. Silverstein reported that the 2007 budget is on schedule and the Association should end the year with a small surplus. He noted that investments for the Replacement Reserve are coordinated with Smith Barney and maturity dates will be laddered in sequence with the time frame stated in the Replacement Reserve Study.

e. General Manager – The General Manager’s Report for the month of September was received, noted, and made a part of the record.

Mr. Lubin stated that he sent a letter to the L.W. Board of Directors President, Irwin Lerner, in August 2007 with regard to several issues on the water feature. He noted that he received a response letter from Mr. Lerner on September 5, 2007 stating that the L.W. Management would give an updated report on the water feature at The Overlook September 2007 Board of Directors meeting.

Mr. Ellis reported that the jets located in the center pond were continually becoming clogged and malfunctioning. He stated that L.W. Management decided to not use the jets on the stone wall. Instead, they have installed a small fountain, like the one located on the upper pond. He also stated that L.W. Management meets with Virginia Lake Management to discuss the chemicals they use to keep the ponds clean of algae. He noted that an under water supply line will be installed to fill the lower level pond when the water gets too low during the summer. In addition, Mr. Ellis stated that grass seed with be put in areas where the grass has died through-out the landscaping at the feature. Mr. Ellis also stated that the issues with the gazebo, sidewalk spalling, etc. will be taken back to Kevin Flannery, General Manager.

Mr. Lubin also reported that vehicles are being parked on the grassy area at the end of the Vehicle Maintenance shop near the drop off sand trap. Mr. Ellis stated that he will check into the matter. Mr. Ellis will also find out when the unused material for the installation of a sprinkler system on the Golf Course will be cleaned up.

f. Property Manager – The Property Manager’s Report for the month of September was received, noted, and made a part of the record.

g. Developer – Jolene Zangardi reported that Creekside has four unsold units. She noted that IDI is moving forward with Park and Planning and the approval of Building 5 at Villa Cortese.

h. Committees

1. Activities – The minutes of the Activities Committee held September 4, 2007 were received, noted, and made a part of the record.

2. Budget & Finance – The minutes of the Budget & Finance Committee meeting held August 20, 2007 were received, noted, and made a part of the record. Mr. Page presented a verbal review of the 2008 budget. Copy attached. Mr. DiLuchio noted that he had requested that the Budget & Finance Committee present the 2008 with the same assessment income as 2007 and show what items had an impact on the 2008 budget. Mr. Page stated that his request could not be accomplished by the committee.

3. Building and Grounds – The minutes of the Building and Grounds Committee meeting held September 12, 2007 were received, noted, and made a part of the record.

4. Communications – The minutes of the Communications Committee meeting dated August 28, 2007 were received, noted, and made a part of the record.

5. Election – The minutes of the Election Committee meeting dated August 21, 2007 were received, noted, and made a part of the record.

6. Old Business – There was no Old Business at this time.

7. New Business –

a. Recommendation of Budget & Finance Committee:
Re: Approval of DeLeon & Stang contract to perform 2007 audit – After a motion duly made (Jones) and seconded (Silverstein) the Board agreed –

To approve the audit firm of DeLeon and Stang to perform the 2007 audit.
General Resolution #11, 9/27/07

b. Recommendation of Budget & Finance Committee:
Re: Approval of 2008 draft budget – After a motion duly made (Jones) and seconded (Silverstein), the Board by majority agreed –

To approve the draft 2008 budget to be distributed to all unit owners for a 30 day comment period.
General Resolution #12, 9/27/07

There were 2 votes approved (Silverstein and Jones)
There was 1 vote opposed (DiLuchio)

c. Recommendation of Building and Grounds Committee:
Re: Approval of Preventive Maintenance Contract for Booster Pump System – After a motion duly made (DiLuchio) and seconded (Jones), the Board agreed –

To approve the proposal from STH in the amount of $795 to perform preventive maintenance to the Syncroflo Triplex Booster pump twice a year.
General Resolution #13, 9/27/07

d. Replacement Reserve Study – Mr. Silverstein stated that he has reservations on how the Budget & Finance Committee comprise the annual contribution to the Replacement Reserves in the 2008 budget, i.e. use of the investment income to offset unit owner contribution. He stated that he would like to form a committee to comprise a spread sheet on how this reduction in contribution by the unit owners would impact the monies needed in the future. Mr. Lubin stated that Mr. Silverstein should call for volunteers to help with this committee.

e. Advisory Committee members 2008 – After a motion duly made (Jones) and seconded (DiLuchio) the Board agreed –

To approve the list of residents who volunteer to represent the Overlook on the L.W. Advisory Committees.
General Resolution #14, 9/27/07

8. Open Forum

Mr. Arrow stated that the algae is returning to the water feature, the wooden structure for residents to sit is splintering and asked that L.W. Management look into resolving these issues.

Mr. Zubkoff asked if L.W. is looking into Winchester homes and the plan for their storm drains. Mr. Ellis stated that L.W. has met with Winchester homes representatives and the storm drainage issue has been resolved.

Mr. Koltnow asked who is chairing the L.W. committee for Winchester Homes. Mr. Ellis stated that Marion Altman, Vice Chairperson of L.W. Board of Directors is chairing the committee.


9. Adjournment – There being no further business to come before the Board, the meeting adjourned at 12:00 noon.



 

__________________________________ ______________________________
Beverly Chaconas Bob DiLuchio, Secretary
Property Manager Board of Directors

These minutes were (approved) (amended) at the
October 25, 2007 Board of Directors meeting