Date: Tuesday, November 7, 2017
Time: 7:00 pm
Place : Islander Pool Deck, 7928 West Drive, North Bay Village, FL 33141
1) Call to Order and Quorum
Meeting was called to order at 7:09 pm
In Attendance: Yasmine, Sachin, Dominique
2) Scope of Work
Board President Yasmine Kotb went over the scope of work at the meeting and explained the rationale for picking the KLR bid -- namely that it was the least expensive, and the quality of the contractors is good.
Various questions regarding the scope of work were answered. One point that came up is that moving to LED lighting can save the building money on yearly electricity costs, but softer lighting in the 2700k range is necessary over the harsher white in the hallways currently.
It was noted that payments need to be made in two installments. It was suggest by an owner in attendance to offer a discount for paying the assessment off early.
The Board considered offering a 10% discount to owners who pay off the assessment in one month versus two. It was noted that depending on how many owners pay in one or two payments, there may be a small variance in the total amount collected. The Board forecasts - for the sake of simplicity - that 50% of owners will pay in one lump sum, and 50% will pay in two installments.
The Board voted to approve the assessment for $230k in two installments.
The meeting was adjourned at 7:38 pm.