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Board Meeting – April 9, 2014
Palm Worth, Inc. Board Meeting
April 9, 2014
Palm Worth Clubhouse1. CALL TO ORDER
Meeting called to order by Juanita Leary, Board President at 2:30p.m.
Board members present:
Juanita Leary President
Jim Apostolico Vice President
Marian Day Secretary
Len Lilyholm Director
Arthur Boyle Director
Glenn Keller Treasurer and Stacey Graiziger Director were absent2. ROLL CALL
Quorum of the Board was present and verified. Building Manager Marcy iZresswell, LCAM
was present along with several shareholders.3. PREVIOUS BOARD MEETING MINUTES
Marian Day moved that we waive the reading of the March 13, 2014 min Jtes and that they
be approved. Second by Jim Apostolico and approved by all.4. TREASURERS REPORT
In Glenn’s absence, Jim Apostolico gave the following treasurers report based on the February
2014 financials. The numbers from the Treasurer’s Report showing income and expenses right
on budget with a net income of $772.
$398,079 -Total Cash
-$28,432 – Prepaid Assessments
-$10,654- Payables
$85,584 -available cash
-$40,000 – Recommended held for emergency by Auditors
$45,584 – excess cash o n hand
Marion Day moved to accept the Treasurers report, second by Arthur Bo I’le and approved by all.5. OLD BUSINESS
A. Approve items previously approved by E-mail.
Motion made by Marian Day to accept Reliable Plumbing for pipe replacement in the storage
room. Second by Arthur Boyle and approved by all.B. Railings Project update
Juanita stated that the railing project was set to start in June and expected to be completed by mid-August.
There were possible 3 more railings than projected. Six (6) Railings have already been paid for. Some
concrete and stucco work will be done.C. Revised Electrical Work – Storage Area
Arthur Boyle stated that because of the extent of the railing job and the plumbing issue in the storage room
that Palm Worth decided to hold off on the electrical work in the storage room. There are still some issues
he will be looking into further such as a fixture with motion sensor in the walkway near bathroom and storage
locker room doors and moving the switch and installing motion detection light in small storage room.D. Final Vote to Approve Posted Changes in House Rules
Jim Apostolico moved to approve the motion passed on January 23 amer ding the House Rules, second by
Arthur Boyle and approved by all. Marian or Marcy will send an e-mail to all shareholders with the approved
changes to the House Rules.6. NEW BUSINESS
A. Recommended Accounting PolicyGlenn Keller recommended changes to the fixed asset capitalization policy. See attached report Motion made
by Jim Apostolico to accept new policy, second by Len Lilyhiolm and all in favor.B. Beach and Dune Project
See attached report from Jim Brennan and Sam Nemirow who are working on project to protect the dunes.
There will be signs and ropes in the fall to indicate private beach.C. Tomasello Inspection of Units
Tomasello checked all 1st floor apartments on South side. One apartmert has termites which are confined to that
apartment. One apartment has palmetto bugs. Tomasello put in traps and sprayed. They say that the problem
should be better within 2-3 weeks. H not cleared up, there will need to be further investigation by a plumber to
determine if problem coming from pipes.D. Discussion for Removal of Rusty Screws throughout the Exterior Bldg. area.
There are currently quite a few screws that are rusting throughout Palm Worth exterior walls. Screws should be
marine grade stainless steel. Juanita spoke with Waterfront and they said that the rusty screws need to be removed.
They stated that they have a hydraulic drill and can do this job for $4 a screw. We do not have the time or the
equipment to do this in house. Kevin will be checking the fire alarm pull screws to make sure they are not rusting.E. Sewer Pipe Repair/Replacement- Storage Area
The second tier North side sewage pipe is beginning to leak and could crack. Always Reliable Plumbing has been
approved to do the work.F. Planned Summer Repair Projects- Building Maintenance
1. Porch Window Annual Maintenance Plus replacement of Window cranks where needed.Window maintenance will be a priority. Kevin will be replacing any cranks as he is doing the porch windows.
They cost $46.90 each or $39.90 for orders over 50. Marcy will order them so that he has them on hand.2. Ocean Sidewalk Repair Contract Started
Len Lilyholm is still getting quotes and will get back to the Board.3. Fire Hydrant Covers Refurbished
All fire hydrant boxes will be fixed and in working order this summer.4. Strips Removed From Steps and Repainted after Completion of Railing Work.
When the concrete and railing work is completed all stripping will be removed from stairs and they will be repainted.7. SHAREHOLDERS QUESTIONS AND COMMENTS
There was a discussion regarding the bars on the windows. Jim Apostolicco and Len Lilyholm will look at possible
easier solutions for installing the bars. The washing machine replacement was discussed. Discussion regarding
having the A/C maintenance include washing the units on the roof and the availability of the water supply to the roof.
Jim Morton thanked Tom Wallis for changing out the light bulbs in the storage room. It made a big difference.
Juanita Leary thanked Marian Day and Carol Lilyholm for all the work they did cleaning out the storage rooms and closets.8. ADJOURNMENT
Motion made by Marian Day to adjourn at 3:55 p.m. second Arthur Boyle: and all in favorMinutes submitted by: Marcy Cresswell, LCAM April 17, 2014
PALM WORTH, INC
FIXED ASSET CAPITALIZATION POLIICYPalm Worth, Inc. will regard fixed assets as capital expenditures when all of the following criteria are met:
Assets purchased, built or leased that have useful lives of one year or more.
The cost of the asset (including installation) is $1,5iOO or more. Multiple assets whose cost is less than $1,50o
but the aggregate of which is more than $2,000 or more are capitalizii3d..The cost of repairing or renovating the asset is $1,500 or more and prolongs the life of the asset.
The association will regard the purchase of computer software programs as fixed assets subject to the above
capitalization policy and will amortize them over an estimated life of three years.
Costs associated with software maintenance and technical support are considered expenditures and will not tie capitalized.Other considerations:
Repair – Is an expenditure that keeps the property in ordinary efficient top oeratingc ondition. The cost of the repait does
not add to the value or prolong the life of the asset. All repair expenditures are charged to the appropriate expense account.Improvements – are expenditures for additions, alterations and renovations that appreciably prolong the life of the asset,
materially increase its value, or adapt it to a different use. Improvements of this nature are capitalized.BEACH and DUNE PROJECT REPORT April 3,2014
Met this morning with Ms Christian Lambright of the Florida Department of Environmental Protection.
DUNE
Ms Lambright identified the dune line of Palm Worth and provided us ivith a ])ermit allowing us to install
sand driven rope and posts to protect the existing dune, (copy attached). The permit does not need to be
renewed and is valid for instillation any time prior to April 2, 2015.No installation is allowed during turtle nesting season.
She also indicated that there is a small amount of an invasive specie of vegetation(Beach Naupaka) within the
dune which should be removed.PRIVATE BEACH
Ms Lambright advised us that the attached survey correctly indicates the location of the current Mean High
Water Line and that we could have a surveyor use those details to mark the easternmost point of our private
property, both north and south. Once that is done we can install a rope along the beach and post appropriate
“no trespassing” signs. We will not need a permit to install the signs, etc. The rope; identifying the private beach
and the signs must be removed each nighi:. It does not need to be put out everyday… up to our discretion.
It should be noted that once posted the public is allowed to traverse the private; beach but not to sit or stay
on Pahn Worth beach property.SIGNS
Attached are examples of dune and no trespassing signs used elsewher:; in Palm Beach. There seem to be a
number of different signs which could be used.NEXT STEPS
\ We have been in contact with Robert Weber the Coastal Coordinator for the Town of Palm Beach. He is the senior person responsible for all beaches in the town. He supports this effort and with his final approval we will contact the Code Enforcement office and the Police Department in order to have them assist with enforcement as necessary.2. Board and Shareholder approvals including approval of the costs related to the surveyor and the acquisition and installation of the signage. The company that provided the signs for the Bellaria is Testa Brothers.
ATTACHMENTS
1. Permit
2. Beach Naupaka
3. Survey
4. Dune Sign
5. No Trespassing Sign
6. No Trespassing Sign -
Board Meeting – March 13, 2014
Palm Worth, Inc.
Board Meeting
March 13, 2014
Palm Worth Clubhouse
1. CALL TO ORDER
Meeting called to order by Juanita Leary, Board President at 3:00 p.m.
Board members present:
Juanita Leary President
Jim Apostolico Vice President
Glenn Keller Treasurer
Marian Day Secretary
Len Lilyholm Director
Stacey Graiziger Director
Arthur Boyle Director
2. ROLL CALL
Quorum of the Board was present and verified. Building Manager Marcy Cresswell, LCAM was present along with several shareholders.
Juanita Leary welcomes the new Board members
3. PREVIOUS BOARD MEETING MINUTES
Marian Day moved that we waive the reading of the January 23, 2014 minutes and that they be approved. Second by Stacey Graiziger and approved by all.
4. TREASURERS REPORT
Glenn Keller gave the following treasurers report based on the January 2014 financials. The numbers from the Treasurer’s Report are:
$120,936 – In our Operating account
-$34,855 – Prepaid Assessments
$86,081 -available cash
-$40,000 – Recommended held for emergency by Auditors
$42,102 – excess cash on hand
$4406 – accounts payable
Total in reserve accounts $ 267,505
Jim Apostolico moved to accept the Treasurers report, second by Marian Day and approved by all.
5. OLD BUSINESS
A. Approve items previously approved by E-mail
Motion made by Marian Day to approve for the record; hot water heater 102, Tile floor 105 to be done in May and Eye ring for Juliette (scooter) 107
Arthur Boyle moved to accept, second by Stacey Graiziger and approved by all.
B. Contract with new Law Firm
A very informative meeting with the new attorney (Peter Mollengarden) was held this morning. His firm can look over trusts should the need arise in the future. A discussion dealing with the removal of the wall outside the clubhouse was held and Board member certification courses were also discussed.
C. Status off-site rental storage bin
Marian Day and Marcy went to the storage bin last summer and determined that the paperwork there is way beyond 7 years old. Marian Day will evaluate the material this summer in an attempt to eliminate the need for the storage unit. Palm Worth has a safety deposit box next door at Bank United should anything need to be stored there.
D. Railings
Juanita, Len and Jim met with the Engineer and the contractor. It was originally thought that there was an additional 15-20 railings to be done. They discussed thoughts, questions and concerns which all related to getting any necessary work done before painting of the building. It was determined that there are 20 angled and 28 straight sections that need to be replaced and there was an additional discussion about concrete/stucco repair that will need to be done. Palm Worth will have approximately $50,000 by the end of June to cover the job. Juanita will attempt to get Waterfront to drop the set up charge since the scope of work will be much more than originally thought.
Art Boyle moved that Juanita determine final dollar amount and get back to the Board for final approval. Jim Apostolico moved to approve Marcy Cresswell for 2 hours 2 extra days a week for $200 a week for the duration of the project.
6. NEW BUSINESS
A. Storage Room clean out dates – Dumpster
Juanita stated that the inspection by the Fire Marshall is expected soon and that Palm Worth may be fined if the walkways and areas above storage units are not clear. Len Lilyholm moved to designate March 27th and 28th for storage cleanout and dumpster rental, second by Arthur Boyle and approved by all. Marian Day and Carol Lilyholm will oversee items that may or may not be kept to donate rather than disposed of.
The flagpole that was previously approved has been put on hold due to the need for a wind engineer and other requirements.
B. Board appointment of committees – standing and ongoing
Standing Committees are: – Social Committee: Stacey Graiziger – coordinator
Legal Documents: Stacey Graiziger – coordinator
Beautification: David and Vickie Gerwig – coordinators
Motion made by Jim Apostolico to appoint these committees for 2014/2015, second by Len Lilyholm and all in favor.
Building maintenance committee: Motion made by Marian Day to approve building maintenance committee, second by Stacey Graiziger and all in favor.
C. Committee Reports
1. Beautification – Vickie Gerwig spoke about the entry to the clubhouse being completed. She stated that Gary Hower has volunteered to water and fertilize the potted plants. Phase 1 of the front lawn planting project is done. Eventually the committee would like to be able to utilize the sliding doors, remove wall, put down pavers and possible arbor over the front door covered with Bougainvillea. She is unable to give an idea of cost at this time as specs are needed and must be submitted for pricing.
2. Building Maintenance – Len Lilyholm stated that the committee consists of Len Lilyholm, Tom Wallis, Mike Mellquist, Jim Curtis and Arthur Boyle. Art is in charge of Electrical subcommittee. He states that Palm Worth is implementing maintenance request forms to be filled out and given to the manager. The committee has walked with Kevin and compiled a summer list including the bathroom doors replacement and some rail repairs. Kevin put in a 4” pipe for the overflow in back of 107 so water will run down the side of the building.
Arthur Boyle checked out high speed internet for the building which would run $35 per person per month with AT&T and $32 with Comcast. Since not everyone will use it or wants it, it was determined that it will continue to be at individual shareholders expense, should they want internet. He also spoke about re lighting the storage room. Two bids were obtained one from Reef Electric the other from Mur-E-Lectric. Art suggested Reef at the cost of $2998. There was some additional discussion regarding permitting and additional lighting. Glenn Keller made a motion to approve electrical installation. Art will investigate final dollar amount and get back to the board , second by Jim Apostolico and approved by all.
3. Social – Stacey gave an update on social events and that she is already planning for 2015. She is looking for volunteers.
Len Lilyholm briefly spoke about pipe issues and individual insurance coverage.
7. SHAREHOLDERS QUESTIONS AND COMMENTS
There was a discussion about signage for private beach, no pets etc. and whether or not signs must be approved. It is noted that upon future requests from a shareholder to renovate their apartment, the manager will coordinate schedule with plumber so that pipes can be inspected. It was discussed that the South side of the building is very dark and possibly dangerous. Art will look into lighting for South side.
8. ADJOURNMENT
Motion made by Jim Apostolico to adjourn at 4:40 p.m. second Glenn Keller and all in favor
Minutes submitted by:
Marcy Cresswell, LCAM
March 19, 2014
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2014 Annual Meeting Reports
Click on the link below:
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Board Officers Elected for 2014
PALM WORTH INC.
2850 S.OCEAN BLVD
PALM BEACH, FL 3348018 FEBRUARY 2014
Minutes of Executive Session of Board of Directors
At the conclusion of the Annual Meeting the, elected Directors of Palm Worth, elected the following as Officers:
President Juanita Leary
Vice President James Apostolico
Treasurer Glenn Keller
Secretary Marian Day -
Annual Meeting Minutes – February 2014
Click on the link below;
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Thank you, Landscape Committee!
We can be proud of the view Palm Worth shows to anyone passing on South Ocean Blvd. thanks to the hard work of our landscape committee. -
Budget Meeting, 11-14-2013
Palm Worth, Inc.
Budget Meeting
Thursday November 14, 2013
Palm Worth Clubhouse
1. CALL TO ORDER
Meeting called to order by Glenn Keller, Board President at 2:35 p.m.
Board members present:
Glenn Keller President
Juanita Leary Vice President
Jim Apostolico Treasurer
Marian Day Secretary
Tom Wallis Director
Linda Brennan Director
David Gerwig Director
2. ROLL CALL
Quorum of the Board was present and verified. Building Manager Marcy Cresswell, LCAM was present along with several shareholders
PREVIOUS BOARD MEETING MINUTES
Marian Day moved that we waive the reading of the October 28, 2013 minutes and that they be
approved. Second Jim Apostolico and approved by all.
3. TREASURERS REPORT
Jim Apostolico stated that October Financials were not yet available and reviewed the report for September which was given at the October meeting. Glenn Keller made a motion to approve the Treasurers report, second by Juanita and approved by all.
4. BUDGET DSICUSSION AND APPROVAL
Glenn Keller stated that the Board unanimously voted to approve Cresmarc Property Management contract which was renewed for 1 year with a 2% increase.
Jim Apostolico went through the budget line items that had been changed and gave an explanation.
Changes to code 5515 to read Elevator contract (removing phone) and 5525 to read Lawn/grounds Pest control (adding grounds)
Jim Apostolico will speak to the Insurance Company regarding flood policy rates
Marcy Cresswell will check into switching the phone company
Jim Apostolico stated that the building will need to be painted in the off season of 2015 and that the reserves needed to be funded appropriately.
There was a brief discussion regarding caulking of the back windows on the East side.
Tom Wallis moved to approve the budget, second by David Gerwig and all in favor.
5. ADJOURNMENT
Jim Apostolico moved to adjourn at 3:13 p.m., second by Marian Day.
Minutes submitted by:
Marcy Cresswell, LCAM
November 19, 2013
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Permit process required by the city of Palm Beach
November 15, 2013
Memo to all Palm Worth Shareholders
Subject: Permit process required by the city of Palm Beach
From: President of Palm Worth
The city attorney of Palm Beach has made it a requirement for all Coops in the city, that permit applications must be accompanied by a letter from the coop stating that the coop approves of the project that the permit application is for.
This means that you should tell your contractor that they need to take a letter from Palm Worth with them when they go to the city requesting a permit. It might be more convenient for you and your contractor if you requested the letter from our Manager and you give it to your contractor.
Reminder: You need Board approval before our Manager can issue the letter.
