Coronado Shores Condominium Association #9
BOARD OF DIRECTORS
MEETING MINUTES
August 20, 2021
A meeting of the Board of Directors of Coronado Shores Condominium Association #9 was called to order by Board President Ken Sigelman at 9:00 AM on Friday, August 20, 2021, in the conference room located at 1820 Avenida del Mundo, Coronado California.
Directors Present:
Ken Sigelman, President (by Zoom)
Glenn Welch, Vice President (by Zoom)
Cheryl Mahoney, Secretary (by Zoom)
Robert Bishop, Treasurer (by Zoom)
David McNelis, Member at Large (by Zoom)
Others Present:
Rafael Estrada, Association General Manager (by Zoom)
15 Homeowners (by Zoom and Telephone)
Consent Agenda:
Upon motion duly made, seconded, and carried, the following Consent Agenda was approved:
General Board Meeting Minutes, July 23,2021
Executive Minutes, July 23, 2021
Financial Report, June 30, 2021/Financial Report, July 31, 2021
Finance Committee – Robert Bishop, Treasurer:
The Finance Committee met July 18, 2021, and reviewed the June and July Financials.
June:
$1,868,000 End of June Reserve Account
$154,000 Revenue
$28,538 Excess Shortage
(-$83,052) End of Year Loss YTD
July:
$1,893,000 End of July Reserve Account
$147,092 Revenue
$2,169 Excess Shortage
(-$78,335) End of Year Loss YTD
L & R Expenses ( -29,470) Utilities (-$35,045) These are big losses that are being investigated.
Current Project Expenses:
- $315,000 Schindler Elevator Expenses
- $25,300 Upgrade Fire Safety
- $38,000 Security System/Camera Upgrade
We have 1.1 million in cash.
A motion was made by Robert Bishop, seconded by Glenn Welch that the 1.1 million be invested as follows; $400,000 in short-term cd’s, $200,000 in a 6-month cd, $400,000 in a 1-year cd and $144,000 in Axos. Motion passed 5-0
Delinquencies – Rafael Estrada
Rafael mentioned that he is currently working with Stephanie Green from Consortium to learn how to access the delinquency reports. He also noted that a vast majority of the delinquencies are a carryover from transferring our accounting process from EBMC to Consortium.
El Mirador Building Committee Reports:
Architectural Update – Hal Aronson
- 1609’s owners put in a request that they be allowed to complete their remodel prior to the commencement of the Elevator Project. Up for review.
Landscape Committee – Patricia Boer
- The committee conducted a walk around the North end of the Shores property.
- Vitale has a master plan for El Camino. Work is in the first phase.
- Vitale is working on cleaning up the algae in the Lagoon.
- Crew #3 is on target.
El Mirador Building Renovation Committee – Susan Handel
- Ken Sigelman announced that Susan Handel will be the Committee Chair
- Susan is planning on scheduling a Zoom committee meeting to discuss how the process is going to work.
- The committee will be accepting input from homeowners regarding their recommendations.
- She will be conducting a townhall meeting soon.
L & R Committee Reports:
L & R Committee Report – Ken Sigelman
The month of July 2021 was the most successful in the history of the Beach Club. They are $97k favorable in the YTD budget.
- $15k shortfall will come from the PPE loan
- There was a lot of talk about the L & R budget and finances. The general projection is that the budget will increase in 2022 by 7-8% with a 5% HOA 2022 assessment increase.
Beach Club Advisory Report – Therese Abboud
None
Old Business: – Rafael Estrada
Structural Engineer:
Hamilton Pacific Inc. provided us with a El Mirador Building and Parking Structure Inspection report.
After some discussion and review of this report it was determined by the BOD’s that along with Hamilton Pacific’s proposal, which included a 5 Year Maintenance Plan, that Rafael Estrada obtain two (2) additional proposals for the BODs to review and discuss prior to a decision on who to hire for the building’s structural repairs and maintenance.
Internet & Cable TV:
Ken Sigelman provided the homeowners with a synopsis of the 3 companies that were reviewed for consideration to install and provide El Mirador with high-speed internet services.
Those companies included Dish Network, Webpass, and Z Telco. At the August 15, 2021 Executive Board meeting a motion was made and passed, 5-0 that we sign a three (3) year contract with Webpass for our high-speed internet and a one (1) year renewal with Dish Network for cable tv.
Elevator Committee – Robert Bishop said that we are tentatively on track for a mid-September start date for our Elevator Modernization Project. Bob suggested that Rafael contact Schindler and request that they take over our maintenance of the elevators, since they are the contractors for our Elevator Project.
The elevator committee is comprised of Robert Bishop-Chairperson, Cheryl Mahoney, Hal Aronson, and Rafael Estrada.
Rafael Estrada gave a summary of the Elevator Modernization Project Rules and Regulations. These will be sent out to all homeowners the week prior to the commencement of the job. Communication will be available on our website, via emails, posted in the mailroom and on each floor by the elevators.
Consortium 2022 Annual Budget & Required Disclosures Engagement Letter
An Engagement Letter was presented to the BODs from Consortium, where they offered, for a fee of $1500.00, to help prepare and compile El Mirador’s 2022 forecasted budget.
After a discussion regarding this offer, a motion was made by David McNelis, second by Cheryl Mahoney to enter into an agreement with Consortium on assisting the Finance Committee with forecasting the 2022 budget. Motion passed 5-0
Rafael was instructed by the BODs to send our attorney, Elizabeth French, the Consortium Engagement Letter for her review.
Other Business:
Homeowners Communication
There was a general discussion regarding items that have been left in a few of the parking spots in the garage for months, as well as homeowners in general, not pulling their cars into their parking spots past the pillars. This will be addressed by Rafael Estrada and the staff.
One of the owners of 1609, Beatriz Mapelli requested that the remodel of her condo be allowed to continue until the elevator project started. This will be taken up for consideration by the Architectural Committee and the Elevator Committee.
Next Meeting: September 17th, 2021
Adjournment: There being no further business to come before the Board; the meeting was adjourned pursuant to a motion passed unanimously at approximately 10:18am.
______________________________________ ________________________
Cheryl Mahoney, Secretary Date