• Home
• Untitled Page
• Beach Conditions
• BOARD OF DIRECTORS
• Bulletin Board
• Cool Web Link's
• Current Projects
• Financial Statements
• Meeting Minutes 2009
• Freq. asked Quest.
• Local Phone Numbers
• History of Plaza East
• Need to Know "Info"
• Plaza East Downloads
• Property Information
• Rules and Regulations
• Meeting Minutes 2008
• Meeting Minutes 2007
• Meeting Minutes 2006
  • MINUTES 12/20/06-SP
  • MINUTES 12/6/06
  • MINUTES 11/15/06-SP
  • MINUTES 10/25/06
  • MINUTES 9/28/06-SP
  • MINUTES 9/26/06
  • MINUTES 8/30/06
  • MINUTES 7/26/06
  • MINUTES 6/28/06
  • MINUTES 6/21/06-SP
  • MINUTES 5/31/06
  • MINUTES 4/26/06
  • MINUTES 4/18/06
  • MINUTES 3/29/06
  • MINUTES 3/22/06-SP
  • MINUTES 2/28/06
  • MINUTES 2/28/06-Org
  • MINUTES 2/6/06-SP
  • MINUTES 1/18/06
• Meeting Minutes 2005

PLAZA EAST ASSOCIATION
MINUTES OF SPECIAL MEETING OF THE BOARD OF DIRECTORS
November 15, 2006

Mr. Richard Loarie, President called to order a duly constituted meeting of the Plaza East Board
of Directors on Tuesday, November 15, 2006 at 7:30 PM. in our Recreation Room.
Present were: Ismet Baker, John Toklucu, DiAnne Shumard, Rafik Heinen, Richard
Loarie, Charles Packard, Alex Soufrine, Terry Marcum, Tim Smith. Also present Mike
Morgan, Manager. A quorum was established.
Absent: James Brady, Allen Pell and Helene Pasternak, Secretary. (Minutes by President)

2007 Budget and Reserve Presentation by Ismet Baker
Agenda Posted: Friday November 1, 2006 and Mailed to Owners with proposed 2007 Budget
and Reserves. Copies of both proposed 2007 Budget and Reserves were distributed to all who
attended this meeting. Mr. Ismet Baker made an Overhead projector presentation of the proposed
2007 Budget, partially funded, and fully funded Reserves. Discussions occurred regarding (1)
2006 reserves as compared with 2007, (2) 5% budget limit as compared with state statue of 15%
- limited to 5% by agreement in Agan case, (3) having attorney and accountant present, and (4)
Reserve Building Mechanical Reserve.
Vice President Chuck Packard made a motion to (1) Approve the 2007 Proposed Budget and
Reserves, (2) Ask the Owners to vote on either Partially Funded or Fully Funded Reserves, (3)
ask our Attorney for an opinion on how to get out of the 5% Budget limit and raise our limit to
State statute, and (4) do what ever we need to do to get the 5% budget limit removed. Motion
was seconded by John Toklucu, voting no were Diane Shumard and Rafik Heinen, Vote passed 7
to 2, Motion approved.
Vice President Chuck Packard made a motion to set the date for an Owners Special meeting to
count Proxies for vote on Waiving fully funded reserves (Partial verses Full Funded Reserves) on
Wednesday December 20, 2006. Motion was seconded by Ismet Baker, All voted Aye, Motion
approved.
Both our Accountant and Attorney will be requested to attend the December 20 Meeting.
Chuck Packard will chair December 20 meeting, with Ismet Baker (Budget Committee chair)
assisting him.

Meeting adjourned at 8:45 pm.

Respectfully submitted,
Richard Loarie,
Recording Secretary (in absence of Helene Pasternak)