BOARD OF DIRECTORS MEETING
DECEMBER 28, 2024
9:00 AM
BY ZOOM
Norris Bishton is inviting you to a scheduled Zoom meeting.
Topic: Norris Bishton's Personal Meeting Room
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Meeting ID: 714 318 5866
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Meeting ID: 714 318 5866
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AGENDA
A. APPROVAL OF MINUTES OF BOARD MEETING 11/27/2024
B. ELECTION OF OFFICERS
C. COMMITTEE APPOINTMENTS
D. POSSIBLE TASK FORCES
E. EXECUTIVE SESSION RE LITIGATION MATTERS
12/20/24
COPY OF NOTICE HERE
ELECTION RESULTS
NORRIS BISHTON 68--ELECTED
RIMAS BUTKYS 67--ELECTED
MIKE OWENS 62
REED McCLINTOCK--57
FOR FULL ACCESS TO SITE CONTENTS - PLEASE REGISTER
6/29/24 BOARD MINUTES HERE
3/17/2024 BOARD MINUTES HERE
2023 ANNUAL MINUTES HERE
12/2/2023 BOARD MINUTES HERE
2023 AUDITED FINANCIAL STATEMENT HERE
2024-2025 INSURANCE SUMMARY HERE
2024 BUDGET REPORT AND POLICY STATEMENTS CAN BE FOUND HERE
PRESIDENT'S ANNUAL LETTER CAN BE FOUND HERE
NEW PAGE--OWNER FORMS
FORMS TO BE SUBMITTED FOR MULTIPLE REASONS INCLUDING SHORT
TERM RENTING, GUEST AUTHORIZATION AND MOORING REQUESTS ARE
NOW AVAILABLE. SEE OWNERS FORMS TAB.
NEW PAGE--ARCHITECTURAL COMMITTEE
Matters involving the Committee
DO NOT FEED THE DEER. SUBJECT TO A FINE.
___________________________________________________________________________________________________
CATALINA ISLAND WATER TUTORIAL HERE
FAQS RE WATER HERE
_________________________________
SCEHEDULE OF FINES HERE
UNFORTUNATELY, THE MOST FREQUENT VIOLATORS ARE SHORT TERM RENTERS. THE SECOND MOST FREQUENT VIOLATORS ARE THE CHILDREN AND GUESTS OF OWNERS WHEN UNACCOMPANIED BY THE OWNERS. VIOLATIONS BY OWNERS THEMSELVES HAVE BEEN INFREQUENT. HOWEVER, OWNERS ARE RESPONSIBLE FOR ANYONE THEY CAUSE TO BE PRESENT AT HAMILTON COVE. IT IS PARTICULARLY UNFORTUNATE WHEN OWNERS ARE PRESENT AT HAMILTON COVE AND THEIR ENJOYMENT IS DIMINISHED BY OTHERS VIOLATING THE RULES.
NORRIS BISHTON, PRESIDENT
SUMMARY OF INSURANCE 2023-2024 HERE
LEARN ABOUT HAMILTON COVE HERE
LARGE ITEM PICK UP HERE
DO NOT PLACE LARGE ITEMS NEAR OR IN THE
TRASH BINS UNLESS YOU HAVE DONE THE FOLLOWING:
Each Unit or residence at Hamilton Cove is allowed three large item pick up calls per year. A maximum of two items may be included for each call. Items included in this program are furniture, appliances, BBQ grills, bikes without the tires and e-waste products such as TV's, computers and printers. To schedule a pick up an Owner should call Avalon Environmental Services at 310-510-0240. Avalon Environmental Services will let the Owner know which day it will be picking up the item. Pick up days are Tuesday, Wednesday and Thursday. The item needs to be taken up to our maintenance building area and placed near the large trash bins. On a piece of paper attached to the item the owner should write the date the item will be picked up and their unit or residence number.
___________________________________________________
FINANCING AND REFINANCING A UNIT
Some Owners and prospective Owners have difficulty financing their Units. The problem is that some lenders are concened that Hamilton Cove is a condotel. Hamilton Cove is not a condotel and it does not meet the definition of a "condotel". The Association does not have a rental pool or a rental desk. It does not participate in rentals in anyway.The second problem is that a few Units remain as subleases. Lenders normally require an Owner/Sublessee seeking to refinance or a buyer of a subleased unit to purchase the fee.
With regard to subleases, the Association informs lenders as follows:
The Association owns the land where the project is located. The Association has transferred a condominium interest in fee to most of the Owners. The remaining few Owners are purchasing the fee interest in their condominiums over time by paying the Association $419.67 a month. At any time they can pay the remaining balance of the purchase price and obtain the fee interest in their condominiums. These Owners currently have an undivided fee interest in the land where their unit is located and the Common Area. When an Owner purchasing his or her fee interest by monthly payments to the Association sells or refinances his or her condominium, the balance of the purchase price is paid, and the Association then transfers the fee interest in the condominium to the Owner.
The Association continuously receives forms from prospective lenders which it has to fill out. While many of the questions are similar, no two forms are the same. The Association will try to assist Owners or prospective Owners with their efforts to obtain a loan. The best way to obtain assistance is through an e-mail to the Association describing the problem.
AS UNITS ARE FINANCED OR REFINANCED THE ASSOCIATIONS ATTEMPTS TO LEARN THE IDENTITY OF THE LENDER AND LOAN BROKER, IF ANY. CONTACT THE OFFICE IF YOU WANT THIS INFORMATION.
__________________________________________________________
A NUMBER OF OWNERS PARTICIPATING IN THE MASTER LAND LOAN ARE EXERCISING THEIR OPTION TO PURCHASE THE FEE, TAKING ADVANTAGE OF LOW INTEREST RATES. INTEREST ON THE MLL IS 6.25%.
FINANCIAL STATEMENTS
MONTHLY COMPILED FINANCIAL STATEMENTS AVAILABLE.
GO TO FINANCIAL STATEMENTS TAB.
TRANSFER FEES APPROVED 4/9/2022
i) Sale or transfer of a Unit by a Fee Owner–$500;
ii) Refinancing by an Owner--$500;
iii) Financing a Unit by a Purchaser to be paid by Purchaser–$500;
iv) Payment of his or her pro rata share of the Master Land Loan by a Sublease Owner together with the acquisition of a fee interest in his or her unit–$750;
v) Sale by a Sublease Owner involving purchase of the fee--$750
Email the Association