Pat King | 20 Aug, 2020
ROMAR HOUSE ASSOCIATION
BOARD OF DIRECTORS
JUNE 25TH, 2020
MEMBERS IN ATTENDANCE:
Matt Saurage, William Dorroh, Louis Olinde, Amy St. Pe’,
Mike Casey, Ken Gates, CJ Minor, Mike Creed
Pat King, Dale Van Damme, Robby Young
Meeting called to order
Previous minutes approved
● On the income side we are on track even though interest income is down due to low CD rates.
● Insurance cost are up showing a variance of around $40,000-$45,000 to the budget.
● Rental Commission is down due to the Coronavirus. YTD commission income was $69,627 w/$462,561 in rentals vs YTD last year of $74,000 w/$473,000 in rentals.
● Income on rentals for April was $o. May 2020 saw rentals soar to $60,000 against May 2019 rentals of $26,000.
● The Fannie Mae rental threshold for loan purposes is 51% of a projects total units. According to Robert Sorrells w/Hamilton Mortgage a unit that is acquired as a second home can be used as a rental but does not qualify as a rental on a projects reporting on a mortgage questionnaire. The only time it is considered a rental is if it is under an LLC. Or another form of incorporation.
● Beach Security: Orange Beach Police Dept. does not allow their officers to work as beach security even on their off time. IPSC Security Is short on manpower. We have started using wrist bands and it is helping but is going to take a little time for full saturation and informing owners and guest how important they are for everyone’s security. Seeking to make improvements for 4th July weekend.
● West Roofing should be starting the roofing replacement project next week, weather permitting. We will retain a person with experience in commercial roofing work to represent our interests and oversee the project.
● We had a lot of water damage to units due to tropical storm Cristobal and we had to have Emerald Coast dry out quite a few. We may file an insurance claim if the total damage is over the deductible.
● The Bagby Elevator contract has been sent to Bagby Elevator Company for their review and approval.
● Sales: Unit 1102B sold in 1 day for $625,000, Romar House List and Sale.
Dale Van Damme
● Maintenance moved a lot of furniture into units from balconies in front of the tropical storm Cristobal and replaced after the storm passed.
● New benches and tennis net were ordered for the tennis courts.
● A new A/C unit was purchased for one of the elevator motor rooms.
● The Board recognized Dale and his team for their hard work and friendly attitude. They are always willing to lend a hand to Homeowners and guest and always with a smile.
● No report
● E & O insurance has been renewed.
Legal and Personnel:
Amy St. Pe’
Matt discussed a realignment of committees as follows
● CJ Minor and Ken Gates – Maintenance and Landscape Committee co-chairs
● William Dorroh – Finance Committee chair. Finance and RHA Officers assuming Insurance committee responsibilities
● Amy St Pe – Personnel & Legal. CJ Minor, Mike Creed
● Mike Casey Louis Olinde- Rental Committee, Louis leading in depth review of rental program at request of the Board.