The meeting was called to order at 11:00 am. Julia Lee introduced herself, and the Property Manager, Bob Lane. Ms. Lee relayed the sad announcement that Paul Shaver, the president of the association, had passed away this past July in a four wheel ATV accident at his residence in Virginia. Mr. Shaver will greatly be missed by all that had the privilege of making his acquaintance. Mr. Shaver also served the Board of Directors for Ocean Pines Interval Owners Association, Inc. and Barrier Island Station Interval Ownership Association, Inc., was a Co-owner of the Black Pelican Seafood Restaurant, as well as Barrier Island Station, Inc. and multiple other corporations. Ms. Lee stated that business continued to run as normal as could be expected. Mr. Shaver's estate wishes to keep everything the same as Paul wanted.
Ms. Lee announced that John Lancaster and Sheila Diehm were not able to attend the meeting.
The first order of business was to determine if there was a quorum present. Representatives of three hundred eighty-five and a half weeks were required to be present or to have submitted a proxy. Nine weeks were represented in person, Barrier Island Station represented five hundred and five weeks, and five hundred thirty-seven proxies were submitted to the secretary for a total of one thousand fifty-one weeks represented, which constituted a quorum.
Julia Lee requested a review of the minutes from the last meeting. A motion was made to approve the minutes as written and seconded. All were in favor, none opposed.
The financial statement and proposed budget were presented and reviewed. An owner inquired if the 2006 budget was an actual comparison to 2006. Julia Lee replied no, 2006 is not over. Julia Lee pointed out that the budget was not in the same order as the financial statement. Most items are close, some a little higher, some a little lower.
An owner inquired about replacing items in the units, such as scratched and marred dishes. Bob Lane stated that we had started last year redoing small wears. All small wears are being upgraded and doubled up. The increase in occupancy was discussed. The past year's occupancy rate was 74%. RCI exchanges are increasing and more owners are using their units.
Discussion was held about the sports centers non-owner members. In order to build the sports center the town required local usage, but the town cannot say how much to charge the locals. When it is feasible for the sports center to operate without the local support, the fees can be adjusted accordingly for local usage to be decreased and/or ceased. An owner commented on the nice refreshed look of the locker room.
An owner inquired about loan defaults. Julia Lee explained that there is a fair amount, but there is no revenue lost because the association gets paid the maintenance fee. A motion was made and seconded to accept the budget as written. All were in favor, none opposed.
An owner inquired about loan defaults. Julia Lee explained that there is a fair amount, but there is no revenue lost because the association gets paid the maintenance fee. A motion was made and seconded to accept the budget as written. All were in favor, none opposed.
