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Minutes from Special Assessment Meetings 12/19/2022 and 12/28/2022
Gloria called the meetings to order:
12/19/2022 at 6:40 - difficulties with Zoom made it necessary to have another meeting.
12/28/2022 at 6:30 pm.
The same material was covered by our Treasurer, Alexis Ortiz Heaney, in both meetings. Alexis gave a power point presentation which explained accounting rules and how the board and the management company arrived at the 2023 budget numbers including the Special Assessment. She discussed the major projects that need the board’s immediate attention. The Zoom meeting from 12/19/2022 is on the bristolharbourvillage.org website in the password protected area.
In the future, updates in financials and the BHVA Board of Directors minutes will be placed on the new bristolharbourvillage.org website. Please make note of the password: BHVA14424.
In attendance at both meetings were board members: Gloria Harrington, Alexis Ortiz Heaney, John Constance, Ginny Lalka, Gina Cushing, Patricia King, John Schultes, Hannah Snyder, Dave Richardson, Anita Smith and Ashley Christoff with Kenrick.
12/28/2022 - Gloria called the meeting to order promptly at 6:30 pm.
Both meetings allowed for questions from the floor.
Your Questions Answered:
Budget Versus Actuals:
- The positive variance in the Maintenance Labor budget is part of the Operating Fund. At year end, any variance to the good will show as positive Net Income. The Board anticipates directing any Net Income to help defray the $738,000 in capital expenditures required in 2023.
Maintenance Budget Build
- Competitive bids are used to estimate planned expenditures
- Remaining contract balances are also considered since these are payments BHVA is committed to pay
- The Board plans to update the 5 year plan after the Maintenance Reserve Study is updated to reflect the current infrastructure condition and current repair, replacement and construction labor costs. This will allow the Board to forecast annual increases to the Monthly Assessment so as to minimize the need for future Special Assessments.
General Operating Practice:
- Competitive bids are obtained for large capital improvements (e.g., roads, bridges) and are not considered routine maintenance.
- The Board and/or the Management Company review bids and recommendations before selecting the vendor with which we move forward.
Legal Fees:
As explained during the session, Legal fees exceeded the $540,488 in funds collected from the Legal Special Assessment in 2020. Total Legal expenses were reduced by a payment from Erie Insurance and exceeded the total funds raised from the Special Assessment by $149,455. This shortfall was paid from Operating Fund. The funds were moved back to the Operating Fund and the remaining balance sits in the Legal Liability account in reserve for future litigation. These expenses were incurred on the original Fields v BHVA case (2020) prior to Rupp Baase, who began representing BHVA in March 2021.
BHVA’s Insurance policies will continue to pay Rupp or Barclay Damon for litigation invoicing. BHVA has received a few legal invoices in Nov. and Dec. 2022 for non-litigation matters that are not covered by insurance.
The Rupp firm has yet to bill BHVA for a portion of the 2021 Tram matter that insurance has declined to cover (expected to be $30 - 35K).
Legal expenses will continue as long as certain issues persist and when, as needed, for other relevant BHVA matters in the future.
Beach Stairs:
If we do not repair the stairs in 2023 we will need to fully replace the stairs. The repair would run $140,000 as compared to more than replacement $300,000 for replacement. Stairs are required and are the alternative means of access to the beach if the elevator malfunctions. We attempted the repair in September 2021 but work was stopped when Jeremy Fields threatened BHVA’s contractor with trespassing charges and summoned the Sheriff.
Beach Fence:
We are assessing the cost to repair versus replace. Both options are being considered.
Bulkhead:
The bulkhead, also known as a breakwall, which is 230 linear feet, is the concrete bulkhead at the beach at the waterline. It should be inspected and repaired every 5-10 years, based on inspection findings.
Drainage:
There are 59 drains that work with 5900 linear feet of concrete gutters. They need to be maintained to divert storm water away from community property.
Fire Suppression:
The hydrants are owned by the Bristol Water Works Corp (and not BHVA). Cheshire Fire Dept. has purchased a new fire suppression vehicle and feels confident in its ability to protect BHV properties in the event of another fire.
Maintenance Shed Lot and Facilities Building
The lot - In order to be responsive the prior Board moved forward with a Special Assessment discussed with the Community to purchase the lot where a home had been struck by lightning and destroyed prior to the sale. We can confirm that there was a vote on the Special Assessment in 2017.
The facility - BHVA was given 12 months notice that the lease with the Sponsor would end. If no viable onsite solution was found, equipment would need to be stored offsite and driven or towed onsite when, as needed.
When the Shed was built the community agreed to add a buffer to reduce the visual impact of the Maintenance Shed from Hillside Drive. The Board has budgeted funds to address the buffer issue in 2023.
Updating the Declaration:
Best Practice is to update declarations every 10 years. An update is overdue and the Board approved a budget for the update. When the proposed amended declaration is available, the Community will be informed of the changes and will be able to vote on the revision before it is approved and adopted.
Alexis, our Treasurer, ended her presentation when she saw there were no more questions from the floor.
Gloria thanked residents for their participation. She said that the BOD is doing its best to maintain the assets of the community at the least possible cost. Gloria wished all residents health and happiness for 2023.
Meetings adjourned by 8:00 pm
Respectfully submitted
Patricia King
Secretary
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