This page contains AMII & HMO edited recorded meetings:
NOTE: To listen to the full audio of the AM2 board meetings, AM2 owners can fill up the form on the bottom of this page to get access to the restricted site.=====================AM2 board meeting on =======================2/27/2019
Please
listen to the below audio clips from our last February AMll board meeting.
To
listen to the entire meeting audio, please select Restricted Information tab
from the menu on the right.
1).
Mold in gym:
A
resident stated that there is still no final mold inspection report to indicate
that the mold was eradicated in the yacht club. Consequently, AM2 VP verbally
attacked the resident (a female owner) using his authority to intimidate
and shut her down. He mentioned how great it is now compared to past years, but
couldn’t produce evidence or a clean bill of health to substantiate his
allegations.
to listen click here: mold discussion
2).
Generators repairs.
The
property manager mentioned that the generators needs repair. Again, a (female)
resident asked “during an emergency, how long and what loads are the generators
capable to provide?” The president verbally attacked the resident trying to
intimidate her and shame her in front of the other residents, but he provided
no answer to her question.
to listen click here: generators fixes discussion
3).
PT cables
to listen click here: PT cable discussion
=====================AM2 board meeting on=====================1/15/2019
Insurance topic from last board meeting
Our AM2 board is attempting
to repeat another “fast” insurance scheme
In the last board meeting, 1/15/2019, the first topic of
discussion was our building insurance.
(For an audio replay, click on the icon below).
A representative from HUB, a company that shares their profits
with our property management company gave a long presentation. The
representative analyzed our current insurance and compared it to a policy that
they are proposing. According to the insurance representative, we have many
shortcomings in our present insurance policy that will be rectified in their
insurance proposal. In addition, their insurance is about $30,000 cheaper.
Keep in mind that our current property insurance policy will
expire in 12/2019 (close to a year from now).
The representative calculated that even if we cancel our
current insurance and accept the new proposed one, we would still be able to
save money even with paying the cancelation penalty.
This action by the board remind us of previous action as
described in the below emails that the board president sent in December, 2017
(the present president) notifying us that we have an inferior insurance policy
and that he is going to cancel the old insurance policy and obtain a new 2 year
policy (without any competitive bids). He also bragged that the new policy
would be superior and the best offer that we can obtain and that it would save
money (see below, email for December 2017).
We agreed to go with Everest Insurance because of the great
deal it gave us where we can save a minimum of $56K in a two year period when insurance rates are increasing more than 10%. We were
supposed to get two bids but because of a timing issue we did not. Our agent
has agreed to get two bids in Jan 2018 and if those bids are better we will
change policies, so this is just a
temporary solution which can result in a great savings for our
building. Our agent did sent an email that the policy with Everest can be cancelled anytime without any
penalty since Everest is an admitted company.
In March 2018 the president sent another email to all
owners, below is the paragraph about the insurance:
BOD Response:
The current insurance broker procured a 2 year renewal with a substantial
savings if locked in before December 31st. The condition the Board
agreed to was to competitively bid the insurance in Jan/Feb which also included
other insurance agents as discussed at the Board Meeting and be able to
cancel the current policy with no
penalties should a better quote be received. The other insurance
brokers were not able to match or beat the current policy in Jan/Feb. We are
projecting a savings of around $30K and the Treasurer voted against this
decision. We were not able to get bids in December because it was not within 30-45
days of the expiration of the insurance policy. At renewal time in December
2019 we will be able to obtain competitive bids 30-45 days prior to expiration.
So here it is:
·
How much did we save? $56K or $30K? According to
the new proposal we save nothing, in fact we are paying more. The estimated
savings were based on insurance rate increases, it looks like it never happened
and the new policies are much cheaper.
·
We were told that the old policy could be
cancelled without penalties, the new agent mentioned $17,000 cancellation
penalty.
·
The last email stated that competitive bids can
be obtained no earlier than 45 days before the old policy expires, this agent
is giving us a proposal 11 months before the expiration date
Our condominium president fooled us once, now he is trying
to fool us again?
To hear the original insurance clip from the board meeting click here: insurance clip
====================================================================
AMO meeting on Jun, 13 2018 at 12:00 PM
Please click on the like below to listen to the meeting (approximately 1 hour 15 minutes)
AMO full length meeting
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