THURSDAY OCTOBER 30, 2008

Moment of silence was observed to remember John Mellilo, Board Member and Lane Bedell, who served on several committees.

Call to order 7pm.

Roll Call - Bill Abbate, Gloria Sager, Mike Paolone, Arthur Frischman, Rick Turner, Campbell Mgt.

Verification of meeting notice posted.

Minutes of August 12, 2008 meeting read and approved.

Correspondence: Letter from owner Clement in response to John Melillo letter.A petition to change a rule regarding Board of Directors ability to approve parking of certain vehicles on property will be on November agenda.

Treasurer's Report- Review of Sep. financial report, items under and over budget, total reserves of $1,522,624.94. Delinquency report (11 units) in amount of $84,039.14.Collection letters and policy in place with Pam in office.Letters initiate a faster notice to owners who are late and legal action. MOTION to move insusrance windfall funds of $29,00 to Harbor dredging (gloria), second, passed unanimously. MOTION to approve Glossary of terms for 2009 Budget (gloria), second, unanimously passed.

Merrill Lynch funds reviewed. No stocks are in these funds. Majority of funds are in tax free money market. Balance is in short term, tax free municipal bonds. All investments are very conservative.Budget 2009 letters to be mailed out by Campbell Mgt. and budget will be voted on at a special budget meeting.

Manager's Report - Rick Turner is having elevator company give list of expected 2009 work. Engineers report (SPEC) regarding bldg. 4 post tension cables given. Repairs are needed and a specialized contractor needs to be hired for this work.

Sales and Rentals - none

Orientation - none

Grounds -Mike Paolone reported on Whitefly issue. Ficus has been treated and are being watched.

Lighting - Henry Muller reported that ground fixtures are in and work is under way.

A chart for proper bulbs for fixtures will be developed. Bld. entrance lights will be presented for voting on. Catwalk lights need budget figure as well as uplights at entrance drive.

Recreation - Mike Paolone - Lines in pool discussed.

Insurance - Paul Gerblick. Two rebates received. Roof work should lower premiums. Individual rebates are also possible.

Habor - Paul Gerblick. Two new boats are in. Some old leases need insurance updates and review.

Finance - Jody Taylor. Last Finance meeting will be Nov. 19, 2008 at 10:30 am.

Doors - Bill Abbate. Work in progress. Some doors had to be custom made. Joe is to paint doors when installation complete.

Elevator - See manager's report.

Building Capt. - Generic entrance codes to be eliminated. Use of keys, buzz in system and personal codes to be used.

OLD BUSINESS -

Catwalk lights have had all bubls changed to same wattage.

Harbor - Paul Gerblick. Dredging complete.

Roofs - Bill Abbate. 9 bids received. No asbestos on roof. Meeting Nov. 14 with engineer and contractors. Job to be fully bonded.

Filling of Board vacancy due to death of John Mellilo. Can wait until March election.

Board Terms - Rick Turner. Staggered term limits are now two years. If Board member has a two month delinquency they will be considered to have abandoned their board position.

Generator - Dean Boyce. Meeting with engineer and specifications developed. Due to present codes Generator must be in different area and outside.

Bldg. 1 first floor unit with plywood. Unit is being worked on presently.

NEW BUSINESS:

Collection policy/letters - Covered previously.

Bldg. 1 and 2 elev. lobbies water accumulation. To be investigated.

Light bulbs: See above

Meeting adjourned 9:22 pm.

Gloria Sager, Secretary Bill Abbate, Vice President