Coronado Shores Condominium Association #9
HILITES OF MEETING
BOARD OF DIRECTORS
MARCH 16, 2017
Directors Present: Sue Welch, President
Bob Hendricks, Vice President
Jon Schiff, Secretary
Laury Graves, Treasurer
Lloyd Sauter, Director
Also Present: John van Blerck, JVB Construction Management, Inc.
Interested Owners (sign-in sheet attached to original minutes)
Karen Oyanguren, General Manager, Eugene Burger Management Corp.
OPEN TIME FOR OWNERS
Introductions of those in attendance were conducted. Joni Weikel expressed gratitude and tokens of
appreciation to the Board members for all their volunteer work.
At the Executive Session held on February 9, 2017, the mediation meeting of February 3, 2017, was
reviewed. At the Executive Session held on February 16, 2017, the Board approved using available
funds (approximately $1,893,331) to replace kitchen and bathroom drains and vents that have the
heaviest volume. The “clean” water stacks that don’t have as much volume (laterals, wet bar,
washer, storm drains, garage and terrace drains) will not be included. A Town Hall meeting was
scheduled for February 23, 2017, to explain the scope of work change; the sequence change (’01
and ’10 stacks) and the start date of March 13 2017. At the Executive Session held on March 7,
2017, a written request to delay the work until the Annual Meeting was considered but not approved.
Investment Recommendations: Dave Lynn of Morgan Stanley Smith Barney presented
recommendations regarding the laddering of CD’s in both the Special Assessment and the regular
Reserve accounts. Upon motion made, seconded and carried, the Board approved investing
$100,000 from the regular Reserve account into a three-year CD at 1.80% and investing $200,000
from the Special Assessment account into a six-month CD and $200,000 into a nine-month CD both
at .70%. The 2017 budget allocates $27,925.83 as the monthly deposit into reserves.
Financial Review and Tax Returns: Newman and Associates, Inc. presented the year-end annual
report and tax returns for review. Upon motion made, seconded and carried, the documents were
Impending Liens: Upon motion duly made, seconded and carried, the Board authorized liens to be
filed (APN 537-690-29-65 and APN 537-690-29-66) if the accounts were not brought current within
the timeframe specified in the Impending Lien Notices.
EL MIRADOR BUILDING COMMITTEE REPORTS
Finance Committee: Laury Graves and Wayne Milletta had met to review the financial report and
agree on the investment recommendations as previously reported. Ms. Graves reported that utility
costs were higher, that window washing is performed quarterly and that payroll taxes had been
under estimated by about $1,000 per month on the 2017 budget.
Audit Committee: Anne Hendricks reported that the committee met on March 15, 2017, to review
the documents prepared by Newman and Associates. The report was clean and only a few minor
presentation changes were requested prior to mailing.
Architectural Review: Nothing to report.
Landscape: Sandy Strickland was absent.
Coronado Shores Condominium Association #9 – Board Meeting Hilites March 16, 2017
L & R COMMITTEE REPORTS
Beach Club: Therese Abboud reported that the meeting is next week. There is a new bunco game
night and also new presentations of “Life Stories” are being shared.
Insurance Renewal: Mike Dabbar reported that the committee met on March 14, 2017, to consider
(five) proposals for workers compensation coverage that renews on April 1, 2017. There was a 23%
premium increase based on higher payroll and also the experience factor. The El Mirador premium
was $9,815 last year and $12,158 this year.
Pipe Replacement Project: John van Blerck reported the following:
AV Builder completed work on Unit #502 and Unit #904.
Work commenced on Monday, March 13, 2017, in the ’01 and ’10 stacks. The pipes removed
were photographed and a section of vent pipe is displayed in the lobby.
To date, approximately $83,200 has been spent from the Special Assessment fund and
approximately $49,600 has been spent on legal fees regarding the litigation.
CERO: The Coronado Emergency Radio Operators that have been operating from the La Perla
rooftop workshop have requested consideration from the Board to relocate to the El Mirador roof for
a number of reasons. Hal Aronson has also met with RB Smith, a CERO Board member, to discuss
their request. It is suggested that the group make a presentation to the Board at a future date.
Annual Meeting of Members: The agenda for the 40th Annual Meeting of Members scheduled for
Saturday, March 18, 2017, beginning at 10 A.M. in the lobby was discussed.
The parking space drawing of five single and one tandem common area parking spaces will be
conducted at the annual meeting. The annual cost for use of a single space is $1,000; the tandem
space cost is $1,600.