Minutes of the Board of Directors Of Seaglass Village Condominium Association

Minutes of the Board of Directors

Of

Seaglass Village Condominium Association

September 20, 2020

Members Present

Richard Gregorio

Mickey Meza

Lorraine DeVaux

Jerry Schlessel

Jerry Fields

President’s Remarks

Operations Report- Operations reports were received from staff.

Motion by Jerry Schlessel- That Seaglass Village apply for a license from the town for 20 rental units only.

A discussion ensued.

Motion to Commit by jerry Fields-

Main Motion: To limit the number of Rental Cottages in the Seaglass Rental Program

to 20. See Jerry Schlessel for exact wording of his motion.

I move to Commit this question with the following charge:

1. That the Standing Committee on Rentals consider the Main Motion with at

minimum the following instructions;

A. That the Committee consult with the Director who made the Main Motion to be

sure that they thoroughly understand its purpose and intended effect.

B. That the Committee solicit comments from the owners at large. The solicitation

should include the wording of the Main Motion and any explanatory comments

which might be necessary for a typical owner to understand the question. It

should also include a copy of this Motion to Commit so they understand what

the Committee must accomplish. The solicitation should be made by Constant

Comment e-mail to all owners and they should be given 21 calendar days to

reply. Although the Committee may ask specific questions, care should be

taken not to bias the results either way and free form comments should also be

solicited.

C. The Committee should consult with the chair and members of the Finance

Committee for advice on any potential financial impact. If desired, the Finance

Committee may draft answers to money questions which should be submitted

along with the Rental Committee’s answers.

D. The Committee should research the impact on cottage resale prices. Consult

with realtors experienced in a similar market who have observed any changes

which might result from limiting rentals.

E. After reviewing the Main Motion and preparing any suggested amendments, the

motion plus suggested amendments or rewording should be presented by the

Committee to counsel for review. A reasonable expenditure for legal fees is

authorized.

F. The Committee shall report to the Board of Directors at the first regularly

scheduled meeting in the month of December, 2020.

G. The report shall consist of answers to questions listed in paragraph G below,

plus

- All unedited comments received from the owners.

- The written opinion of the attorney

- A statement of the Committee’s majority report, expressing their opinions as to

the desirability of this resolution.

- A statement of any minority reports which may have been requested by

dissenting members of the Committee

- A statement of any amendments to the Main Motion which the Committee

believes to be desirable, and/or a restatement of the resolution if the Committee

believes that more substantial changes to wording or provisions is desirable.

(Note this does not automatically substitute for the original motion. It is merely a

recommendation which the Board of Directors may find convenient by vote of a

majority.) If the Committee determines that a resolution of this nature is

undesirable, no suggested amendments or wording changes are necessary.

H. Questions

• What would be the annual financial impact to the Rental Program of this resolution

if adopted unamended? Consider all fixed costs that might have to be pro-rated

over a smaller cottage inventory, any reduction in revenues, and any other factors

as suggested by the Finance Committee or thought desirable by the Rental

Committee. Please quantify, rather than answer with a general statement of

increase or decrease.

• What would be the annual financial impact of this resolution if adopted along with

your suggested amendments or rewording?

• If there is a financial impact of the unamended resolution, what changes to the

annual assessment to cottage owners would be required to compensate?

• If there is a financial impact of resolution if amended as you recommend, what

changes would be required to the annual assessment paid by cottage owners to

compensate?

• What is the Committee’s best estimate of the effect on price and ease of resale of

cottages if the number of rentals is limited? Please state both short and medium

term estimates.

• Is limiting the number of cottages in the rental program equitable to all owners?

• In the opinion of the Rental Committee, is a limit on the number of cottages in the

rental program desirable?

A discussion of the Motion to Commit ensued which inclued comments from non-board members included.

Amendment to Motion to Commit offered by Jerry Schlessel- The committee will consider whether past financial statements as to rental program profitability reflect true costs.

The Amendment to the Motion to Commit passed unanimously

The Motion to Commit as amended passed unanimously.

Report of EMOC and ARC

The committees reported on the recent walkthrough of the cottages.

Discussion of procedure for Committee Appointments and Committee Chair Appointments

Approval of Minutes

Reading of Minutes was waived.

Jerry Schlessel moved that the minutes as proposed be changed to reflect that during the election for president, the chair did not call for discussion.

The motion to change the minutes as proposed passed unanimously.

Treasurer’s Report

Motion to change reporting format to show differences from budget.

The motion passed unanimously

New Business

It was reported that Judy Moseley has applied to be Chair of the Rental Committee.

Motion- That Judy Moseley be appointed to be Chair of the Rental Committee.

Motion passed unanimously.

Lorraine DeVaux moved that a Welcome Home Committee be formed to meet with New Owners to help them integrate with the community.

Executive Session

Motion to adjourn after executive session passed unanimously.