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TAPRC 3rd Quarter Meeting – October 1, 2004
Via Teleconference & Fairfield, NJ
9:45am
Attendee’s: Bob Ryan, Norman Dodson, Steven Helling. Marion Holmes, Richard Corso, Angel Estrada, Eric Millet, Estela Villanueva.
1) AGM and special contribution letters were mailed out on September 29th. The money to settle the legal issues was transferred four days ago and the interest rate is .75% per month.
2) Norman Dodson, Eric Millet and Estela Villanueva all gave reports and discussed our cash flow and budget for 2005. The Board also discussed Directors and Officers insurance and Estela advised that the insurance has been placed at a cost of approximately $12,650, an increase of approximately $1150 dollars over last year’s premium. A motion was made and seconded to have Angel prepare a document outlining what the cost would be to replace the beach bar and restaurant canopy at some time in the future. This would allow the Board and RR to have a cost estimate on hand. The motion passed 3-1-1. Marion Holmes voted against the motion and Richard Sutton was absent. An additional motion was made by Norman Dodson and seconded by Bob Ryan stating “Any exceptions to the Special Contribution to members must be approved by a vote of the Board. This motion passed unanimously.
3) The Board then received a call from Frank Roozen and Len Matsunaga, during which they updated the Board on the progress of all pending legal matters. This call covered all legal matters that presently affect the resort. Only small details remain in the receiver’s settlement.
4) The Board then discussed the contract that is being proposed for the medical clinic/physician that is on call for the resort. The present contract expired last October. Negotiations are on-going and a proposed contract was presented to the Board for review and comments.
5) No new vendors have been added to the Ving Card system since the 2nd quarter meeting.
6) Angel Estrada updated the Board on progress of the channel 15 video. The resort has been given a proposal from an independent company that is interested in making a video and running advertisement on the channel along with resort information.
7) The Board discussed the status of the on island newsletter and the Pelican update.
8) Richard Corso and Eric Millet discussed the status of the front desk interfacing project. ISCO is presently working towards accomplishing this large task.
9) All projects on the 2004 construction list have been completed with the exception of one elevator replacement that was moved to fiscal year 2005. The laundry is working as planned and the resort is experiencing a large savings each month by no longer subcontracting our laundry services. 30 additional units will be refurbished during fiscal year 2005. This will bring the total number of refurbished units up to 230 out of 342.
10) The new resort manager is Luis Cabrera.
With no further business to discuss at this meeting, it was adjourned at 1:10pm EST.
Submitted by Steven D. Helling, TAPRC Board Secretary.
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