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Minutes of the
 Whitley Bay Condominium Association, Inc.
 Board of Directors Meeting held
 WEDNESDAY, December 17, 2014

Call to Order: President Stan Bowers called the meeting to order at 4:32 pm in the Whitley Bay Recreation Room.  Approximately ten owners attended and Lynn Hiott and Michelle Davis from Reconcilable Differences were present.

Establish Quorum of Directors: Board members in attendance: President Stan Bowers, Treasurer Bob Shrader, Secretary Terry Yates and Director Richard Isom. VP Larry Ramsay was absent.

New Business:

Policies and Procedures Manual: The Board discussed details regarding pets but all agreed that the wording in the Governing documents was clear and will be used in the policies and procedures manual. All agreed that once the pet wording reflected what was in the documents, management would email the document to all owners to look over before the next meeting when the changes would go into effect. Management will make hard copies available to those who request them.  

Ratify Budget Line Items: Treasurer Bob Shrader stated that banks are requiring that reserves be at least 10 percent of a year’s budget in order for buyers to obtain mortgages, and Whitley Bay’s partially funded reserve budget is just under the required need. So in order to meet the criteria of the bank without increasing the monthly fee, Bob recommended lowering the main electricity line item by $1,000, and removing the bad debt expense line of $1,200 and putting that unused $2,200 under the Miscellaneous Building and Grounds Component reserve line item, bringing total reserve funding for 2015 to $47, 472. Bob made that motion, Stan seconded and all were in favor. 

Informational Discussion about allowing a “cell tower” on the roof with compensation by a large telecommunications company:
Sheryl Denan, Vice President of Site Development with Smart Communities, attended this meeting. She stated that she has been in the telecommunications industry since 1996 and acted as a facilitator and consultant with Verizon. She estimated about $18K to $24,000 a year could be netted on allowing a cell tower to be installed on the roof top. Her company’s fee would be 20% of the net paid annually. They would ask for a study by the carrier, provide interface with them and work for the condominium in negotiating a deal. 
She shared several color photos of roof top towers as examples and stated that they would be structurally sound, have a lightning rod, and that a typical antenna is usually about 6 feet tall, but needs to be located at a corner of the building, not in the middle of the roof. 
Homeowner Mike Mervis stated that he was very familiar with the process and has worked with a number of tower providers. He agreed to speak with his contacts to see if there was any interest in working directly with Whitley Bay. 

Set Next Meeting Date:  The Board proposed meeting on January 21, 2015 to approve the updated policies and procedures manual.  

Adjournment: There being no further business, the meeting adjourned at 5:50 pm. 

Respectfully submitted,

Lynn Hiott, LCAM 
Michelle Davis, CMCA, AMS, CAM
Community Association Managers, Reconcilable Differences, Inc.