PLAZA EAST ASSOCIATION
MINUTES OF SPECIAL OWNERS’ MEETING
FRIDAY, DECEMBER 28, 2007
The purpose of this meeting was to
count votes to see if the membership gave consent and approval to
partially waive statutory reserves.
Owners gathered at 10 a.m. and the counting began. At 10:30, James
Brady (5A), seconded by Chuck Packard (3H) nominated Tim Smith
(10H) to serve as chairperson of the meeting.
Mr. Smith announced that we received a total of 233 votes. 276
votes are need for a quorum and therefore no official business can
be conducted at this meeting.
We needed 277 yes votes waive full funding of the Reserve
Budget. We received 222 yes votes and 10 no votes. Therefore we did
not waive full funding.
The membership was given the choice to adjourn the
meeting and accept full funding of the Reserves; reconvene the
meeting at a future date and keep current proxies and ballots in
place and try to get additional proxies to reduce the Reserves; or
reconvene the meeting and send new proxies out to everyone.
Beth Holland (20P) made a motion, seconded by Parvin Assadi (8F) to
postpone the business of this Special Owner’s Meeting until
the Annual Membership Meeting on February 15, 2008, and to hold all
votes until that time and send out proxies to those who did not
vote for the purpose of getting enough votes to partially waive the
Reserves. All of the owners present voted Aye and the motion passed
unanimously.
The maintenance bills which are due on January 1, 2008 in
anticipation of vote passing, reflects only partial funding. If in
the event, this does not pass on February 15, 2008, then a new bill
will be sent out to all owners for the difference and full funding
of the Reserves will be required.
Respectfully submitted,
____________________
Helene Pasternak