Minutes of the Board of Directors Of Seaglass Village Condominium Association

November 15, 2020

Members Present

Richard Gregorio

Mickey Meza

Lorraine DeVaux

Jerry Schlessel

Jerry Fields

Richard Gregorio was in the chair

Operations Report

General Manager reports that Clubhouse has been taken care of. Also the excavation at 150 is taken care of. The emergency tree work has been completed. The shutoff repairs were unnecessary after the excavation was completed.

Committee Reports

Rental Committee: On the motion to limit the number of rental units licensed, which was committed to the Rental Committee, the following is reported.

The attorney was consulted and he advises that we should be cautious because some owners bought planning to participate in the rental program. There could be some issues.

Realtors with experience selling Seaglass cottages were consulted, and they advised that the number of renters should be limited to less than 50%. They also advised that to limit or eliminate the rental program could discourage purchases because our cottages are more expensive and many buyers will be looking to offset the costs with rental income. Having the rental program is very attractive.

Biddeford Bank was consulted. They advise that rentals should be limited to 50%, and also be cautious of investor owned units because it could raise financing issues.

It was decided that a meaningful financial analysis was not performed because of the large number of unknowns. Specifically which units were going to be in the program is unknown and the variability in the number of weeks available for each cottage.

A survey was sent to the community to determine the opinion of owners at large. 50% responded. Please see the survey results which are attached to these minutes.

The committee is concerned that there are many people in the SGV community who would not have purchased, and would not be able to join our community if it were not for the rental program as it stands.

The committee is also concerned that by limiting the number of program participants, it will drive those who wish to rent to do so outside the program, which would attenuate control over who rents and their behavior rather than enhancing that control.

The committee recommends that the Rental Program not be limited.

A question period ensued.

Jerry Schlessel spoke at length in favor of the motion.

Mickey suggested passing the decision to the Homeowners at the annual meeting.

Jerry Fields spoke at length in opposition to the motion.

Jerry Schlessel withdrew his original motion and then moved that Seaglasss Village limit the number of cottages in the Rental Program to twenty, and that Seaglass Association does not restrict any owner from renting on their own subject to amenity fees. Further any renter outside the program may contact the Seaglass rental office for emergency purposes or other assistance. Contact will result in charges to the owner for the services rendered.

Jerry Schlessel made a motion to table. Motion carried, with yeas and nays. In favor of tabling the motion, Richard, Jerry Schlessel, Lorraine and Mickey; opposed, Jerry Fields.

Approval of Minutes

The reading of the Minutes of October 2020 was tacitly waived. Motion to accept minutes as amended. Unanimously approved.

Treasurer’s Report

Jerry Schlessel reported that current bottom line is $89,060.65 to date. Sandbar is $5,086.60. Reserve has received $41,208.65. Rentals $2,667. Operating $21,102. Entertainment negative $6004.42.

Motion to release November financials to the Association. Passed unanimously.

Old Business

Discussion of need for chairs for ARC and IT.

Report for Entertainment committee. Calendar is nearly set. All bands and music by pool has been booked.

Jerry Schlessel thanks Donnie for applying for the $20,000 grant from the Maine tourism department.

Executive Session

Return from Executive Session

Motion to adjourn passed unanimously.

32 views0 comments

Recent Posts

See All

© 2020 by Seaglass Village Cottage Owners