Hello Fellow Unit Owners,
First off, I like to thank everyone who showed up last night. Your support is greatly appreciated.
I was going to write a post with all the highlight from last night meeting, however one of our fellow unit owners (AJ) left this comment which sums most of it up. Thanks AJ
“For those of you in building 2 that did not attend the meeting yesterday, the board is voting on Tuesday October 5, 2010 to assess building 2 with an overage of $273,000 from the concrete restoration project. The property manager did propose to the board that all other buildings could absorb the cost of building 2′s overage which was immediately shot down by the other board members and unit owners at the meeting. If this assessment passes the unit owners of building 2 will be responsible for paying back this overage as per the payment scheduled we received in the mail.
I understand this money needs to come from somewhere, although I do not understand how asking people for MORE MONEY in this economy when over 25% of the unit owners are currently not paying at all is going to solve this problem? 0 + 0= 0 It is simple math, you cannot get money from people who do not have it.
It was mentioned in the meeting yesterday that they are spending “lots of money” trying to get delinquent owners to pay the over $700,000 that the association is owed, from unit owners not paying. I guess they plan on paying “a lot more money” when they pass this assessment and realize that people cannot pay. I suppose they can put liens on the 125 unit owner in building 2, but again I don’t see how this solves the problem.
There was talk about suing various people or the construction company in which it was suggested that if those lawsuits won, building 2 would be reimbursed. If that is the case, knowing that building 2 does not have the funds to pay this assessment, why can’t the other buildings come together and help out by absorbing the overage. If the lawsuit does come through they can be reimbursed their rightful amount owed to their building? Everyone is so quick to say no when it comes to helping building 2 out, I would like to know how they would feel about the situation if they were in building 2′s shoes.”
With that said, I like to add a few more comments.
In last night meeting there was a lot confusion by unit owners on how our association operates, so I will break it down. Polynesian Gardens Condominium Association is A non profit corperation and within the non profit corporation there are 5 Phases and/or share holders.
Those Phases/share holders are
- Building 1 (18.94%)
- Building 2 (25.71%)
- Building 3 (16.51%)
- Building 4 (19.90%)
- Building 5 (18.94%)
Okay so now that we have that straighten out, let’s move on…
There is some confusion on what obligation the board of directors are supposed to have as far as representing their individual building and if they are only obligated to look out for the best interest of the building they represent.
This was brought up because building 2 went so far over budget and some of the board of directors have stated that building 2′s former elected representatives are the reason why. Unit owners from building 2 have questioned the current board of directors on why wasn’t this being monitored and stopped from going so far over budget.
Here are some reasons that have been said:
One answer has been SHE (meaning one of the former representatives of building 2) went over budgets and spent the money in building 2. We (meaning the remaining representative) didn’t go over budget in our building because we stopped our catwalks from getting done.
Here’s another answer. I (meaning one of the directors) represent my building and am looking out for the best interest of my building as the elected representative. This is why ever building elects their own representatives onto the board.
Here are some questions I will like answered:
- Why did building 1,3,4 and 5 have the option to opt out of the catwalks and building 2 unit owners have no choice?
- Why didn’t the board of directors have a vote for building 2 to have the option to opt out as well?
- Isn’t the board of directors supposed to vote on matters such as this?
- Why didn’t the Executive Board of Director/Officers step in to protect unit two owners? (the Vice President, Treasurer, Secretary, Director at Large, ect.)
There is only one board for Polynesian Gardens Condo Association. All building representative should look out for the best interest of the entire community not their individual buildings. If this isn’t the case then we should be operating as individual buildings with Separate Boards for each building and Separate Bank Accounts.
Here’s my Point. No one on the board should be pointing fingers…
WE HAVE 1 BOARD OF DIRECTORS !!!
Each Officer and director has a duty and obligation to for-fill their position and protect the entire community regardless of what building they represent.
We need to start holding officers accountable for there titles/positions, I understand this is a volunteer position, however if individual cannot for-fill their obligation per position appointed then they in my opinion should give it to someone who can.
Officer Titles and Duties to the Association
- President-the President shall be the chef officer of the association. He/She shall have all the power which are usually vested in the office of the President of an Association, including but not limited to the power to appoint committees from among the members from time to time, as he/she may in his/her discretion determine appropriate, to assist in the conduct of the affairs of the Association. He/She shall serve as the chairman of all board and member meetings
- Vice President-The vice president shall in the absence of disability of the president exercise the powers and perform the duties of the President. He/She shall also generally assist the President and exercise such other powers and perform other duties as shall be prescribed by the directors.
- Secretary-The Secretary shall keep the minutes of all the proceeding of the directors and the members. He/She attend to giving and serving all notices to the members and directors and other notices required by law. He/She shall keep the records of the Association, except those of the treasurer, and shall perform all other duties incident to the office of secretary of the association and as may be required by the directors or the President. The Assistant Secretary shall perform the duties of the secretary when the secretary is absent. The duties of the secretary may be fulfilled by a manager employed by the association.
- Treasurer-The treasurer shall have custody of all property including funds,securities and evidences of indebtedness. He/She shall keep the books of the association in accordance with good accounting practices; and shall perform all other duties incident to the office of treasurer.
- Bonus-Director at Large a person voted in by the entire community to represent the entire community.
My final comment :
In my opinion, if the board of directors failed to protect our community by not monitoring our funds properly, why should building 2 or any other building have to pay for their mistakes.