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Palm Worth Shareholders:

On Wednesday the Citizens Association and The Palm Beach Community Managers Association co -sponsored lunch at the South Firehouse regarding Hurricane Preparation for the Island. We had speakers from the Town of Palm Beach from the Police and Fire Department, as well as the Director of Emergency Management for the Town.

As President of the Managers Association I felt it was extremely important to co -chair this event with the President of the Citizens Association.

If we are subject to a Hurricane in Palm Beach and it has reached a Category 1 level, the island will have to be immediately evacuated of all residents and pets.Once a watch is is posted only resident’s with a Palm Beach address on their D/L with be allowed on the island, the only other ID to get on the island is a ID card issued by the Palm Beach Police Department.

Myself, Marcy and John have these cards already.

Two phone numbers have been set up for the seasonal residents to call to assess any damage to the island and their buildings,the emergency number for the Town is 561-227-7070 and a toll free number of 1-866-372-4150.

If we are subject to Hurricane -myself, Marcy and John, will do as much as possible to protect Palm Worth as always.

And as long as we phone service we will be in contact with the Board President.

Lets hope none of this has to take place.

Enjoy the rest of your summer and see you in the fall.

Robert

Robert Bucchere,VP & General Manager
Gem Property Management,Inc.
Office 561-642-5443
Fax    561-642-3299

Palm Worth, Inc.
Board of Directors Meeting
Friday June 8, 2012
Palm Worth Clubhouse

1. CALL TO ORDER

Meeting called to order by Jim Apostolico, Board President at 2:05 p.m.

Board members present:Marian Day Director

Board members present via phone conference call:
Jim Apostolico President
Juanita Leary Vice President
Glenn Keller Treasurer
Tom Wallis Secretary
Linda Brennan Director
David Gerwig Director

1. ROLL CALL

Quorum of the Board was present and verified. Building Manager Robert Bucchere, LCAM, was present via conference call and Marcy Cresswell, LCAM was present along with several shareholders

1. PREVIOUS BOARD MEETING MINUTES

Motion is made by Tom Wallis to waive the reading of the April 9, 2012 Board Meeting Minutes and that they be approved with the following changes: previous Motion made by David Gerwig to exchange parking spaces 44 and 22 changed from 44 to 43 , seconded by David Gerwig and approved by all.

1. There was a discussion regarding previous letters sent to O’Brien and Morton regarding towing and letter received from Helen O’Brien. The Board agrees that numerous attempts were made via phone and letters regarding parking lot and that all other Palm Worth shareholders should not be responsible for the cost. The Board members agree that Jim will contact them and try to resolve the issue.

1. There was a discussion regarding remodeling plans for 214.

Motion made by Tom Wallis to approve the current plans with the following restrictions;

1. The sliding glass doors to both porches may not be removed. 2. The reconstruction of the wall between unit 212 and 214, with the stipulation that it meets all fire and building codes of the town of Palm Beach, and does not change the current configurations of units 212 and 214.

3. All construction must be done by licensed and insured contractors, and proper permits acquired. Second by Glenn Keller and all in favor.

OLD BUSINESS:

Discussion reaffirming Board intentions regarding Nemirow sale of unit 404 and Board wants to keep this in mind for future purchases/sales for owners with 2 units

The appraisal from Wells Fargo came back which reduced the premium financed with Flat iron by $4117.00

Juanita Leary gave an update on Bulldog fence regarding a correction for neighbor approval of the gate, and was given an estimate of approximately $2000 to remove invasive plants by the berm

The Phoenix contract was received and reviewed.

John will be starting the touch up of the walkways and the black strips will be replaced on the steps

Note: The following motions were previously approved by an email vote.

Motion made by Tom Wallis to re-approve sale of 214 in the name of Robert A Graiziger, as trustee of the Robert A. Graiziger Trust agreement dated March 12, 1986 and Stacey L. Graiziger a/k/a Stacey H. Graiziger, as trustee of the Stacey L. Graiziger Trust agreement dated June 2, 1995. Second by Juanita Leary and all in favor. Jim will e-mail Graiziger and forward to the Board

Motion made by Tom Wallis to approve the remodeling of 314 subject to permits and code compliance, Second by Juanita Leary and all in favor

1. ADJOURNMENT

Motion to adjourn made by Linda Brennan at 3:25, second by Juanita Leary and approved by all

Minutes submitted by:

Marcy Cresswell, LCAM

June 18, 2012

 

Palm Worth, Inc.
Board of Directors Meeting
Monday April 9, 2012
Palm Worth Clubhouse

CALL TO ORDER

Meeting called to order by Jim Apostolico, Board President at 2:35 p.m.

Board members present:

Jim Apostolico President
Juanita Leary Vice Presiden
tGlenn Keller Treasurer
Tom Wallis Secretary
Linda Brennan Director
David Gerwig Director
Marian Day Director

1. ROLL CALL

Quorum of the Board was present and verified. Building Managers Robert Bucchere, LCAM,
and Marcy Cresswell, LCAM were present along with several shareholders.

1. PREVIOUS BOARD MEETING MINUTES

Motion is made by Tom Wallis to waive the reading of the March 15, 2012 Board Meeting Minutes and that they be approved, seconded by David Gerwig and approved by all.

1. TREASURER’S REPORT

Treasurer’s report was given by Glenn Keller. Motion made by Glenn Keller to ratify previous decision made by Jim, Glenn and Robert to move bank accounts to Bank United. Second by Tom Wallis and all in favor.

1. OLD BUSINESS

1. Motion made by Tom Wallis to insert Laurie Manoffs e-mail recommendation regarding 30 day visits to house rules. Second by Linda Brennan and approved by all. Motion made by Tom Wallis to approve the revised house rules. Second by Glenn Keller and approved by all.
2. Juanita gave discussion on estimates received by Bulldog Fence for $2925 plus permit fees or $4775.00, N&N Ornamental for 5114.50, and Rapid Fence for $4115.

-Brief discussion regarding repair of top surface of the atrium pond and hedge on North side of building including Sea grape which needs to be hand trimmed.

-Juanita spoke with the Omphoy regarding the South side appearance of their building.

– Palm trees and buttonwood were sprayed for spiral fig whitefly for $750.

-Some lawn chairs will be restrapped at a cost of $4 per strap.

– Motion made by Juanita to replace 180-185 feet black chain link nylon coated fence with Bulldog Fence, Second by Tom Wallis, all in favor.

– Linda stated that per the engineers there were no problems with the expansion joints, and also said that the walkways would need to be hydro blasted down to the concrete and the process was very expensive. It was agreed on that the walkways would be put off and combined next year with the painting project and would be patched over the summer.

1. The pool leak, broken pipe and decking concern were discussed briefly. Motion made by Jim Apostolico to approve the leak detection test. Second by Glenn, all in favor.
2. The Gerwig’s window was discussed and (2) engineers; Comtex and Carousel gave quotes and agreed it was not a window problem but a concrete problem. The Board agreed to fix the problem ASAP.
3. Jim read a letter from Robert and Stacey Graiziger requesting approval of the transfer of the stock certificate. Tom Wallis made a motion to approve the transfer to Robert A and Stacey H. Graiziger living trust with the provision that they provide a copy of the original trust and proprietary lease. Second by Juanita Leary and approved by all.

1. NEW BUSINESS

– Motion made by Tom Wallis to transfer ownership name of William A. Bohn 210 to William A. Bohn, Trustee William A. Bohn Trust u/a/d 3/8/2012.

– Motion made by Tom Wallis to approve remodeling of Sue Stinson bathroom with licensed contractor and permits, second by Juanita and approved by all.

– Motion made by David Gerwig to exchange parking spaces 44 and 22, second by Glenn Keller and approved by all.

– Board agrees that 207 Madsen and 407 Koehl’s doors will be painted by Kevin during Kevin’s regular Palm Worth hours.

-Jim discussed Kevin not being on payroll for the summer and will get paid as an outside contractor for any additional jobs he does.

1. SHAREHOLDERS QUESTIONS AND COMENTS

Several questions and comments were addressed including the McKinney’s regarding the A/C unit 203. A letter will be sent out requesting painting or removal of the old unit within 30 days.

1. ADJOURNEMENT

Motion to adjourn made by Tom Wallis at 4:10 p.m., second by Glenn Keller and approved by all

Minutes submitted by:

Marcy Cresswell, LCAM

April 20, 2012

Palm Worth, Inc.

Board of Directors Meeting

Thursday March 15, 2012

Palm Worth Clubhouse

1. CALL TO ORDER

Meeting called to order by Jim Apostolico, Board President at 3:40 p.m.

Board members present:

Jim Apostolico President

Juanita Leary Vice President

Glenn Keller Treasurer

Tom Wallis Secretary

Linda Brennan Director

David Gerwig Director

Marian Day Director

1. ROLL CALL

Quorum of the Board was present and verified. Building Managers Robert Bucchere, LCAM,

and Marcy Cresswell, LCAM were present along with several shareholders

1. PREVIOUS BOARD MEETING MINUTES

Motion is made by Tom Wallis to waive the reading of the January 16, 2012 Board Meeting Minutes and that they be approved, seconded by David Gerwig and approved by all.

1. TREASURER’S REPORT

Treasurer’s report was given by Glenn Keller. The January financials had been reviewed at the stockholders meeting, and the Feb. financials should be received soon

1. BEAUTIFICATION COMMITTEE

Juanita Leary discussed the damage to the beach gate, the replacement of the seagrape on the North side, the repair and or replacement of parts of the fence along the south side of the building, and also that all requirements for the trimming of the seagrape along the ocean

were met.

1. NEW BUSINESS

1. Motion made by Tom Wallis to approve A/C replacement for Brennan, King and Whitlock, second by Glenn Keller and approved by all
2. Motion made by Tom Wallis to issue new stock certificate to Kay C. McDonald and Kevin J. Curtis Revocable Land Trust dated March 6, 2012, second by Juanita and approved by all

Motion made by Tom Wallis to issue new stock certificate to Mildred K. Grimm Declaration of Trust under agreement dated March 7, 2012, second by Linda Brennan and approved by all

1. Jim Apostolico stated that the flagpole broke and may need to be replaced if anyone is interested in doing a memorial donation
2. Motion made by Tom Wallis to approve installation of hot water heaters with proper permits for Grinnell, Gorman, Auld, Burrill, second by Marion Day and approved by all
3. The McKinney’s sent a letter to the board regarding the A/C unit 203. John or Kevin will check and see if the A/C is working and also check the apartment for mold and advise
4. Linda Brennan discussed the expansion joints and walkways for summer projects. Slider engineering gave a proposal of $2000. Linda is going to get another proposal and follow up with companies that specialize in expansion joints

1. OLD BUSINESS

1. Tom Wallis reviewed the changes to the house rules. They will be posted for 2 weeks to shareholders for comments. Motion made by Tom Wallis to send House Rules out to shareholders, second by Juanita Leary and approved by all
2. The Board approved a letter regarding permits for hot water heaters previously installed to be sent to 7 shareholders involved. Motion made by Tom Wallis to send the letter, second by Glenn Keller and approved by all

1. SHAREHOLDERS QUESTIONS AND COMMENTS

Several questions and comments were discussed

1. ADJOURNMENT

Motion to adjourn made by David Gerwig at 5:10p.m., second by Glenn Keller and approved by all

Minutes submitted by

Marcy Cresswell, LCAM

March 22, 2012

PRESIDENT’S ANNUAL REPORT

PALM WORTH COOPERATIVE

FEBRUARY 21, 2012

The Board of Directors and I want to welcome all Shareholders to the 2012 Annual Meeting.

I would like to begin this report by thanking all of my fellow Board Members for their work and efforts during 2011. Each of these Board members have specific responsibilities and work many hours ensuring that Palm Worth is run smoothly and is financially stable. I thank each of them for their contributions.

2011 Work

2011 was another busy year. We completed many projects and managed to do that under budget, with no special assessments. This past summer we had Carousel install 30 new concrete railings around our walkways. The new railings, like the ones on the East Stairwell, are concrete with fiberglass rebar. Fiberglass will not rust and corrode like the older steel rebar, so we should see many years of service from these railings. Both elevators were overhauled by Tyson Krupp. This included new doors, tracks, and safety features. Now, you may have noticed, the doors will open if anything passes into the opening. The parking lot was re-surfaced and new lines were painted. This will give us years of service until we need to repave,

Please continue to check the webpage, Palmworth.net to see information on Palmworth. You will find past minutes, Bylaws, etc. We will continue to update it, so that all new information will be available to each of you as quickly as we get it. I thank Mike Moffit for all his work with the website.

Financially, Palm Worth is in excellent shape. We continue to do an official audit of our books on an annual basis. We have done very well with these audits and will do them each year. Our budget has remained the same and that is why your monthly maintenance is the same as 2011. This is due to the Board doing its best to stay within or below our budgeted amount for our projects in 2011, reducing segments of the budget in 2012, and covering other projects with our reserves for this year. Out of 67 units, we have only one foreclosure which we are pursuing with legal action.

2012 Work

In 2012, we will look at replacing the expansion joints where the two buildings join, on both the north and south sides, and the expansion joints joining the buildings on the west stairwell. The decks need to be patched and painted. The building is 50 years old this year We will need to monitor it closely for major deterioration and fix things when they break. The building takes a major beating from salt and wind by facing the ocean. There is a cost to this and we are constantly reviewing the required maintenance to ensure the building withstands these elements.

New Shareholders

During 2011, we welcomed two new shareholders to Palmworth. In Unit 301, Dan and Nancy Schrage, and in unit 314, Mr. Thomas Oliff. We also lost three of our long time shareholders. Jim Grinnel, Walter Carnes, and Oscar Morgenstern were fixtures at Palmworth and will forever live in our hearts. Our deepest sympathies go out to Mary Lou, Mary Lane, and Anne, and their families. Also our thoughts are with Barbara Ashe and her family on the loss of her mother and former shareholder, Beverly Shug. We want to also extend our sympathies to all shareholders who have lost close family members during this past year.

I want to take this time to extend my appreciation to our Board members, Our friends at GEM Property, John Self, Kevin Brocious, and our Committee Members.

Board Members:

Linda Brennan – Linda is my Vice President and has been a tremendous help to me in my first year as President. Her experience made my job much easier. She did a great job dealing with the legal matters that we face at Palmwort, and also was the Board’s liaison with the Social Committee.

Tom Wallis – Tom is the Secretary of the Board and oversees the Minutes of each Board Meeting. He also works with Robert on the proprietary leases, the stock certificates and the trusts. Tom also has been working hard on updating the House Rules. Wally has been a true mentor for me and I appreciate all of his help.

Glenn Keller – Glenn is the Treasurer of Palm Worth. Glenn works closely with Robert and Amanda Shade, our Accountant, on our budget and monthly financials. Glenn also was the Board member in charge of the Fire Alarm Monitoring System that was installed this past summer. Always the professional, Glenn is the watchdog of our assets.

David Gerwig – David oversees the landscaping committee and is responsible for choosing the beautiful flowers and shrubs you see here in Palm Worth This takes a lot of time and effort and his work is appreciated by all. David also was in charge of the Parking lot resurfacing and stripping.

Juanita Leary – Juanita has been a tremendous asset in her first year on the Board. Chairperson of the Beautification committee, her work included the overseeing of the completion of the bottom of the East Stairwell beach chair area and the beautiful new pool furniture that we all are enjoying.

Len Lillyholm – Len served briefly on the Board, and has elected not to finish his term. We did appreciate his efforts, which included the railing replacement work and chairmanship of the door and window committee.

Marian Day – Marian is our newest Board member and we all are excited to have her as an associate.

Gem Property

Robert Bucchere – Robert is our property manager and once again has done a great job in keeping Palmworth in operation. Robert was planning to take a well-deserved break and take a cruise with Camile in November, but he took me too literal when I told him to have a good TRIP. After his fall, he worked from home to make sure that Palmworth was ready for our return. Robert, thanks for all you do, and thanks for making me look good.

Marcy Cresswell – Marcy came to Palmworth from GEM Property, to help during Robert’s recovery. She made the transition so easy, she became one of us and truly helped all during her time here. Thanks Marcy.

John Self – We can’t forget our hard worker, John works diligently to ensure that Palm Worth remains beautiful. We all appreciate him and thank him for all that he does. John experienced an injury and was away from Palmworth for the last quarter of 2011. It is great to have him back

Kevin Brocious – Kevin joined us to help out during John’s recovery, and has done a fantastic job. Kevin has become a friend to all of us, and now I can announce that he will be staying on our payroll during the season. He is a real asset.

Committees

Palm Worth does a lot of its work through its committees and the volunteers who give their hours to this community. Our shareholders who volunteer are an important part of why this building retains its beauty and works so well. This helps us to keep our costs down and encourages all of us to know our neighbors.

Beautification Committee

David and Vickie Gerwig and Juanita Leary are responsible for choosing the beautiful flowers, newer shrubs, poolside containers and the containers around the clubhouse. David and Vickie go out to nurseries and choose these plants and have them delivered. Juanita and Vickie have worked closely with our landscapers to ensure that our grounds stay healthy and beautiful throughout the year. We also don’t want to forget all of the volunteers who have helped to water the plants around the pool. Mary Lane Cairns has worked in the past to put this together. Thanks to each of you for this very important work.

Social Committee

We have had many successful parties this year. Special thanks go out to Sue Keller, Carol Boyle, Kit Hanvey, Sue Apostolico, Barbara Koehl, Shirley McKinney and Jeannie Wallis. The Golf Tournament run by Tom and Jeannie at the Par 3 up the street was also very successful. The Christmas Party, the Valentine’s Party, the socials at the pool, all of these events contribute to knowing your neighbor. This year festivities revolve around the 50th anniversary of Palm worth. They include cocktail parties, a bus trip to the casino, and a Dinner at Coco Pazio. I thank each and everyone on this committee for their creativity and work throughout the season.

Citizen’s Association

Special thanks to David Hobson, Bill King and Mike Melquist who have worked closely with the Citizen’s Association this year. All three of these gentlemen attended each of the meetings and represented Palm Worth throughout the season.

In closing I would like to thank all of our shareholders for their help and support this past year. Palm Worth continues to be magnificent building in a spectacular setting. This can only be accomplished by the efforts of the entire community and so many of you have been a part of that. This is why the building is in good shape and we continue to be financially stable.

Jim Apostolico

President

Palm Worth Cooperative

PALM WORTH
2850 South Ocean Blvd.
Palm Beach, FL 33480

Annual Meeting
February 21, 2012

ANNUAL REPORT OF THE WINDOW COMMITTEE:

The Palm Worth Window Committee comprised of Chairperson David Hobson, Glenn Keller and Mike Moffitt has prepared this report in response to the request of Board President Jim Apostolico. We were charged with several tasks:

Review the prior Survey reported in March of 2008 with a view toward examining particularly the porch windows rated 4 and 5 on a five point scale.
Conduct a survey of a sample of all of the porch windows to determine the extent of possible deterioration since 2008.
Review the summer window maintenance protocol in the light of findings from the survey and make recommendations accordingly.
Include John Self in the review process so that he may be informed of unfolding developments with the porch windows. John performs the summer maintenance program.

The committee examined all of the windows rated 4 four years ago, finding no additional deterioration. In addition, the committee conducted an examination of  more than half of the porch windows, also finding minimal deteriation ocurring since 2008. We found zero windows in need of replacement.

We did find a few problems, all of which can be remedied this summer.

There are some breaks in caulking on the outside of first floor porch windows, no doubt caused by the irrigation system sprinkling cascading water over the windows. All of the first floor caulking should be inspected and replaced where cracked and broken.
Quite a few armitures are evidencing some rust. These should be scraped with a wire brush and rust resistant paint applied to the surface.
Five cranks were found inoperable or badly  degraded and in need of replacement.
In window corners, primarily, we found some aluminum oxidation (pitting). Glenn Keller noticed this problem occuring on his windows three years ago and did the following to good effect: Scrape the oxidation off with a wire brush, sand the surface, apply some white silicone over the area. Glenn says this treatment has prevented any further deterioration. The Board may want to consider making this procedure part of the summer maintenance program.
Some windows were found with the bars still attached. The Board may want to consider whether  or not to remove, the bars, treat the windows, and replace these bars.

The Committee noticed again what we have brought to shareholders attention previously, namely,  windows which are not opened do not deteriorate, windows on lower floors have way more salt to deal with, and periodically washing out the salt with warm soapy water will do wonders for window preservation. SALT IS TH ENEMY!

Finally, we urge every shareholder to look carefully at your porch windows. If you find any matter of concern, please contact David Hobson, Glenn Keller or Mike Moffitt.

The good news is that our porch windows are standing up very well to the elements. They have  not significantly deteriorated over the past several years. None require replacement. Some hardware needs replacement and maintenance is absolutely a necessity.

Thanks for your attention,

David Hobson
Glenn Keller
Mike Moffitt

SOCIAL COMMITTEE REPORT
2012

This year is the 50th Anniversary at Palm Worth and the Social committee has been quite busy trying to make it a special year.

We started the season with an opening appetizer supper in January.  In early February, there were 41 of us who took a bus Trip to the Gulf Stream Casino.  We hope everyone had fun.

We followed this on February 15th with our Valentine party in which Art and Carol Boyle were king and queen for the night.

Thursday will be our 50th Anniversary dinner at Couco Pazzo.   Appetizers and cash bar start at 5:30 followed by dinner.  We have 50 people attending, so it should be a great night.

March 14th will be a special party around the pool.  Ed, the Steel Drum player will be back to give us great music.  Pictures of the past 50 years will be displayed and discussed, thanks to the help of Sue and Glenn Keller and a group of longtime residents of Palm Worth.  There will be good food, nice music and great memories of the past.
Look for more information and the sign-up sheet soon for this event.
We are always looking for extra help to set up and take down.

On March 25th, we will have our annual Golf Tournament at the Par 3 Golf Course in Palm Beach.  It will be followed by hamburgers and hot dog supper around the pool.  Sign-up sheets for that event will follow.

If anyone wants to help with the Easter dinner (Kentucky Fried Chicken) around the pool, we would be happy for volunteers.

Thanks to the board for giving us extra money this year to make this a fantastic 50th Anniversary.  Hope everyone has enjoyed our efforts.

Carol Boyle Sue Keller and I were happy to make this year a memorable one.

Respectively,
Sue Apostolico

Comments at 2012 Annual Meeting

2011 was a difficult year for me. My mother passed away in July and in November I fell and broke my leg and ankle and required major surgery to put my ankle back together.
I was also saddened by the loss of 3 exceptional men who were true gentlemen and I was honored to know them.

Walter Cairns – Walter was a Board member when I interviewed for the manager’s position here at Palm Worth. His kindness to me during that process and throughout my time here is something that I will always remember.
Oscar Morgenstern -Oscar was the Treasurer of the Board when I came to Palm Worth, we worked very closely together during his time as Treasurer on all financial matters regarding Palm Worth. I enjoyed the many conversations we had after his time as Treasurer and I was fortunate to have his friendship.
Jim Grinnell – I will miss hearing “Robert the pool is too cold, raise the temperature.” Jim always welcomed me to his apartment and we would talk about books and authors that we both liked.  I will always remember his positive attitude and that he never complained about his illness. I know the pool will be warm for him in heaven.

Jim Apostolico has mentioned many of the accomplishments that occurred during 2011, so I will not repeat them here. But my responsibility to PW does not end when the majority of you leave for the season as summers here are very busy as the last few summers can attest.
Both John and I were away from Palm Worth for an extended period of time in the latter part of 2011, Marcy Cresswell, a welcome addition to Gem Property Management, was superb in my absence the last few months and continues to do a great job.

Kevin Brocious filled in for John effortlessly and I thank him for his hard work and welcome him officially as a Palm Worth employee.

In April it would mark 5 years that I am the Palm Worth property manager. I have always considered PW to be the “Gem” -no pun intended- of my company’s portfolio and I have done  my best as your manager not only in the time I spend on site here but in the many hours off site dealing with the business of PW.

Criticism is part of a manager’s job and I know you can’t please everyone all the time. I can only assure all of you that Gem Property Management, whether it is me or Marcy who comes to Palm Worth every day, will continue to give Palm Worth 100 percent.

In closing, I welcome Marian Day to the Board and look forward to working with her and I want to thank the rest of the Board for their support.

Robert A. Bucchere
Gem Property Management
February 21, 2012
PRESIDENT’S ANNUAL REPORT
PALM WORTH COOPERATIVE
FEBRUARY 15, 2011

For the other reports presented at the meeting click on ” Annual Meeting 2/12″ on the right hand sidebar.