SEAGLASS VILLAGE HOMEOWNERS MEETING
January 22, 2024
6:00 PM
MINUTES
The Chair called the meeting to order at 6:00 p.m. and a quorum was declared. Board members present: Sandra Weymouth (in the Chair), Lorraine DeVaux, Mickey Meza, Judy Moseley. Howard Raff was absent. Staff present was Jim Hoyt, General Manager.
Minutes were approved from the November 13, 2023 Board of Directors Meeting.
President’s Report was given, and Sandra stated that the investment report would be under the Treasurer’s Report.
In Howard’s absence, Sandra reported that the Ad Hoc Rental Review Committee is looking at four possible scenarios – the current model with modification, all totally independent, co-op, and 3rd-party managed. The team has divvied up the 4 possibilities for team members to explore the pros and cons.
The Treasurer’s Report was given and approved for 2023 year-end and was accepted unanimously.
Randy Peteros gave the Investment Committee report, stating that we have a T-bill matruring at the end of January ($100K). Our financial advisor recommended longer term (5-year) investments. Richard Gregorio (treasurer) agreed that it’s time to start diversifying. A motion was made upon the Investment Committee’s suggested investment one-half of proceeds to a five year Treasury Note yielding roughly 4.08% and one-half to a five year Corporate Bond Exchange Traded Fund yielding roughly 4.8%. Motion passed unanimously (Raff absent).
No GM report. Sandra noted that there have been some alarms going off in the Clubhouse, likely due to cold weather and power glitches.
No ARC, Ambassador, Entertainment or IT committee reports, however it was reported that the tree program has started and Abbott was on-site that day (1/22/24).
Rental committee reported that there are 14 cottages in the program, 2 independent, and that the in-program cottages have received 36 bookings for a total of 311 days.
Safety committee reported working on finding replacement walkie-talkies.
Mickey reported for EMOC that the clubhouse has an ice dam and staff/committee will be monitoring any ceiling damage.
Homeowner Forum:
None.
The Board recessed to Executive Session at 6:29 PM.
The Board returned to the general session at 6:47 PM. No further action was taken and the meeting was adjourned at 6:47 PM.
Minutes respectfully submitted,
Lorraine DeVaux, Secretary