MEADOW WALK BOARD OF DIRECTORS ANNUAL MEETING
April 1, 2013, 6:30 PM at the Fruitville Branch of the Sarasota Public Library
Directors Present: Gary Walsh, Shana Bickel, Betsy Dane, David Bennett, Jordan Ramey. Meeting called to order at 6:35 p.m.
As the last meeting held was the Annual Meeting, the minutes of which will be reviewed at the 2013 Annual Meeting, the reading of minutes and the Secretary's Report were dispensed with.
Financially, the Association is in excellent condition. The current bank balance is just shy of $45,000, and of the $14,000 due in annual fees, over $9,000 is derived from four homes in foreclosure. The balance is predominantly due from homeowners who have qualified to pay their dues in two installments. The Board is looking at vehicles to set aside some of the current balance in an account that will be reserved for emergencies that might be required.
Two of the homes that are currently in foreclosure will be sold to the banks this month. Another one is waiting for an estate to be filed.
Two homes have recently sold – the DelSanto home was sold as a "short sale" for $266,000 to the individual who rented it for two years, and the DeClerico home sold for $311,000 to a couple from Pennsylvania. We welcome our newest homeowners!
In terms of Modification Committee reporting, two homes have installed pools with all appropriate county permits and setbacks.
The Board is working on a proposal to replace the lighting at the front entrance. What is there now was installed by the original developer 14 years ago, and the lights have been damaged and have reached their obsolescence. New lighting, "well lights", will be installed on the front island and at the two corner walls. These are lights that will not be protruding in such a way as to suffer damage from passersby, bikes, skateboards, etc. A motion to approve the project was made by Dave Bennett, seconded by Jordan Ramey and unanimously approved.
The front wall was repaired, sealed and painted; this is a required task that we feel will occur every 5-7 years for $4-5,000 due to wear and traffic.
Due to the serious lack of rain for the past several years, the banks around the lakes have suffered serious erosion problems. The Board is investigating alternative solutions to this problem, and will be contacting former homeowner Ben Hilton for advice, as he is a grounds engineer.
The Annual Yard Sale will be held Saturday, April 20th from 8-1. Betsy Dane will prepare a flyer for homeowners and John and Susan Finlay will arrange for the advertising and signage.
There being no further business, the meeting was adjourned at 7:40 PM.
Respectfully submitted, Betsy Dane, Director