MANAGEMENT UPDATE THURSDAY

                                             MANAGEMENT UPDATE
                                             THURSDAY, JULY 1, 2010
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TruGreen Landcare, cleared vegetation and debris around the Banyan Tree in front of the Clubhouse, as well as thinned out areas on both sides of entrance to the Clubhouse as part of Landscaping Improvements to the common areas. The cost of this additional project was $2000 and was completed on June 3^rd. In addition, our staff installed lights to illuminate the Banyan Tree, which is the icon of our community.

Over the last two weeks, the staff began dismantling the planters, removing baseboard and making other preparations prior to the start of the Clubhouse Flooring Project. On Thursday July 8^th, the Clubhouse will close at 2:00pm , as workers begin putting up plastic sheeting and our staff makes final preparations for the project, which begins with the removal of the Mexican Tile on Friday, July 9th. Because of the air conditioning having to be shut down, the majority of the Clubhouse will be closed during this time including the Café and the Office will be closed on Friday and reopen on Monday, July 12^th. As soon as the old tile is removed and the new tile is laid and grouted, portions of the Clubhouse will be reopened as the job progresses. The Pool, Fitness Center Building , the Center and the Banyan Room will remain open throughout the project for card playing and other activities.   We apologize in advance for the inconvenience and will post notices on channel 63 and around the Clubhouse to keep our residents informed.

Pugh Pools, Inc. is awaiting approval of the engineering plans for installation of collector tanks for the Japanese Hot Tubs and the Cabana Club Spa. Once the Palm Beach County Health Department approves the plans, Management will be meeting with Geoff Pugh to schedule dates for the project to begin after the Clubhouse Flooring Project has been completed.

On June 7th, the contractor for Florida Power & Light was here to install the equipment at the Clubhouse and Cabana Club in order to participate in FPL’s “On Call Program”. The program will automatically save the POA $1,680.00 per year or $140.00 per month on our electric bill.

Banyan Springs now has a new Bookkeeper, Mary Annalori. We welcome Mary to the Banyan Springs family and look forward to working with her.

Alice Cohen, our representative from Comcast Cable, met with executive members of the POA Board on Tuesday, June 15^th to discuss future plans of Comcast, concerning changes and realignment of channels, as well as expanding digital channels. We are currently under existing contract with Comcast until 2015.

On June 14^th, the Property owners Association received a letter from Palm Beach County Department of Engineering and Public Works, requesting permission to proceed with the installation of equipment to install a traffic signal at Cedar Point Blvd and Military Trail. A signal at this location has been needed for quite some time as there have been a number of accidents over the years, so we are thankful that County Commission Chairman, Burt Aaronson apparently has moved the project forward. No timetable has been given to us as to when the signal will be completed at this time.

Members of the Board met on Tuesday, June 16th with Garth Rosencranz and Jasmin Wood of Lamn, Krielow, Dytrych & Company to discuss the final draft of the 2009 Financial Statement. At today’s Meeting, the Board will consider approval of the Final Draft and if approved, copies of the Financial Statement will be available to all interested Unit Owners at the office after today’s meeting.

An incident occurred at the Main Gate during the overnight hours of June 20th, in which a suspected intoxicated driver drove into the gate arm mechanism, damaging it beyond repair. Unfortunately, a rare malfunction of the security system camera system prevented us from capturing the event, although we may not have been able to capture the license plate. Fortunately, insurance will cover the cost except for the deductible of $1000.

On Monday, June 28^th, Al Hoffers Pest Protection Services, was in the community to treat the grounds for pests, as per their contract with Banyan Springs.

Late Monday afternoon, a driver on a cell phone had an accident on Cedar Point Blvd. coming off of Military Trail. The incident caused damage to the fence behind Terrace Homes 3 and also some shrubs. Fortunately, Vice President Bob Dow drove by the incident, stopped and called the authorities, so we will be able to make a claim against the drivers insurance to pay for the damages.

The office will be closed on Monday, July 5^th in observance of the 4^th of July Holiday and the office will also be closed on Friday, July 9^th for the beginning of the Flooring Project.

Respectfully submitted,

Rick Leach, L.C.A.M.

Property Manager