BANYAN SPRINGS PROPERTY OWNERS ASSOCIATION

A correction was noted on Page 3, Line 2, the Court date of Sept. 19^th was corrected to Sept. 14^th. Feige Brody made a motion to accept the Minutes of Sept. 1^st, 2011 as corrected, seconded by Harry Sossower and passed unanimously.

Treasurer’s Report – Joel Brusso

Copy attached.

The Treasurer’s report showed a beginning reserve balance of $285,942.39 as of 9/1/2011.

After additions to Reserves and Deductions from Reserves, for various items, the current reserve balance is $254,325.04 as of October 12, 2011.

Our Operational Account shows a balance of $162,253.67 as of September 12, 2011.

Mr. Brusso advised that there were several foreclosures that were settled by the banks this year. The approximate money collected was $20,000.00 and will be added back to our Accounts.

Tony Scorsese made a motion to accept the Treasurer’s Report, seconded by Feige Brody and passed unanimously.

President’s/Management Update – Rick Leach

Copy attached.

Highlights:

· The Tennis Court Resurfacing Project of Courts 4 and 5 were completed on September 21^st by Papico Construction. Cost was $6550.00

· A five ton Air Conditioning Condenser Unit was replaced in the Spa Building by Atlantic Refrigeration at a cost of $3,332.00. Also, the two ton Condenser at the Tennis Pro Shop required replacement at a cost of $554.85.

· The Spa Renovation Project was completed and officially opened on Friday, September 23^rd. Wine and cheese were served in the Banyan Room to the resident attendees for the opening.

· Along with the new fitness equipment, there were two LG 42” televisions added to the Fitness Center at a cost of $1052.40.

· A timer and steam chamber were replaced in the Steam Room by AAA Anytime Service at a cost of $415.00.

· Our Holiday Lighting was installed on Friday, October 7^th by Holiday Lighting, Inc. at an approximate cost of $6,000.00. The lights will be turned on beginning November 18^th and remain lit until the 1^st week in January.

· Management is currently working on the 2012 Budget for the POA as well as for all the Associations in Banyan Springs. Tuesday, October 18^th the BSPOA Finance Committee will have their first meeting to review and discuss the budget for the upcoming year. Over the next few weeks, Management will meet with the Board Members of each Association to review expenses and prepare their Budgets for 2012.

Management advised that if you are experiencing any problems getting in the gate with the bar code system, it means you need to replace your bar code. Go to the office and they will change it for you.

Barry Prince mentioned that the final cost for the Spa and Fitness Center Renovations will be known over the next few days and will be advised to the community at the first General Meeting of the BSPOA on Wednesday, October 19^th.

Barry also referred to the matter which is currently being discussed and interpreted between the BSPOA Lawyers and the Villa Association Lawyers regarding which Association is responsible for maintenance in the Villas common areas. The hope is that by the beginning of the New Year we will have some clear interpretation of our Documents regarding this matter. No further discussion will be had until that time.

Old Business

The matter of Menu increases for Norman ’s Café was discussed. After some discussion and some minor changes, Harry Sassower made a motion to accept the increases requested. The motion was seconded by Feige Brody and approved by all Board members except Joel Brusso who was against the increases.

New Business

· Joel Brusso advised that we have $21,000.00 left from our 2010 surplus that has not been transferred from our Operating Account to our Reserve Account. Bob Dow made a motion that we now transfer these funds into the Reserve Account at Mackinac Bank. The motion was seconded by Paul Whitney and passed unanimously.

Architectural Requests

None

Suggestion Box

Seymour Schneider suggested that the scale be moved from the Fitness Center back into the men’s locker room. A new scale was purchased for the Fitness Center and the old one was moved back to the new men’s room.

Jerry Rund suggested that a sign up sheet be made for the fitness equipment in the Fitness Center . This suggestion is under consideration.

There were a number of matters brought up by Association members. The following issues were discussed:

· Several members mentioned that there was the smell of gas at different areas in the clubhouse. Management looked into the matter and brought in a couple of contractors but they were unable to detect any odor of gas. The matter will be looked into once again and it was suggested if a smell is detected, Management should be notified immediately.

· Dave Lefton asked how much rent is being charged to Norman ’s Café. The answer was $100.00 per year which was negotiated in exchange for the Café offering unlimited refills on any drink ordered.

· John Fowler inquired about the court case pending with regard to the floor that was installed in the Clubhouse. Barry Prince advised that the only matter pending was a hearing regarding the payment of Attorney fees that the court assigned to Terry Whitlock who lost his injunction on this case. This has been ongoing for a year and a half .Whitlock is still fighting the payment of these charges.

· Barbara Wolf mentioned that the fob post at the resident’s entrance is very unsightly and asked if it could be replaced. Rick Leach of Management said it could be replaced.

At 11:47 Harry Sassower made a motion to adjourn, seconded by Feige Brody and passed unanimously.

Respectfully submitted,

Anthony Scorsese

Secretary