Welcomes Proof of notice of meeting Call to order Approval of - PowerPoint PPT Presentation

 Welcomes  Proof of notice of meeting  Call to order  Approval of 2010 Minutes  Introduction of the Boards, key staff, & others

 Set regular Board Mtgs., advertised them, held them, invited owners to join, posted mtg. mins. on the Maui Sands’ website  Have tried to work by consensus – working collaboratively, listening & respecting various viewpoints, & all decisions were unanimous  Organized 7 official Community Workdays (& several unofficial) with the help of more than 40 people  Organized several impromptu & formal social gatherings  Owners assisted Res. Mgr. with emergency & crisis situations (e.g. roofs, tsunamis, holes, & more!)  Regular communication with owners via www.mauisands.org, conference calls, Skype, 2 letters to owners, Google Group, etc.  Reviewed House Rules, entertained changes, & approved / amended Rules

See sections: A-1 A-2 5A lanai wall, before & after A-20 B-8 E-1 2B window shade & privacy film approved security screen door

 Researched & hired new attorney to represent the AOAO (add’l. 1 retained for MS I delinquency issues)  Hired Mike Pang, Monarch Properties, Inc. to work on the leasehold negotiations  Sought updates to By-Laws, adopted 514B, approved work of Mike Pang (awaiting approval of others)  Compiled email list of MS I owners (only missing 4!)  Explored, researched, met, discussed, planned, & more re: roof issues (MS I)  Hired roofing consultant, architect, shoreline surveyors, & received permits for construction (MS I)  Attended several Board educational seminars  Provided online training to Board members (& archived for later reference)  Remained focused, collegial, & moving forward!

 Reserves have increased 36% from last year  Delinquencies: ◦ Per March 2011, 8 out of a total of 56 owners are more than 60 days late in AOAO payments (14 %):  6 owners owe more than $20,000  1 add’l. owner owes more than $10,000  1 add’l. owner owes more than $5,000 ◦ Progress made:  Delinquency as of Aug. 2010: 13 more than 60 days late (23 %)  Several units have sold with new owners paying regularly  1 delinquent owner has allowed the AOAO to rent out his unit... the long term renter is paying almost 3x’s the mo. maint. fee  Several bank owned units are paying partial arrears (e.g. 1 unit is bank owned & will soon pay $28,000 / $31,000 owed)  Several other units are “in process” with foreclosure, auction, or bank ownership  All delinquent owners were notified in writing warning them of other actions the Board will be taking… we are working with a specialized attorney re: further actions A decision was made to avoid increased maint. fees due to need for Special Assmt.

 Strong increase in reserves: approximately 60% gain over past year  Substantial decline in accounts receivable/ delinquencies (from 4 units to 1 in extreme delinquency)  Flat budget retained this current year (resulting in no increase in maintenance fees)

1. Improvements & Maintenance 2. Projects for the new year 3. Conclusions

Challenges: ◦ Leaky, neglected roofs with ridiculous historical stop-gap methods! ◦ Vacationers, renters, & owners greatly effected! ◦ A lot of rain…. & wind… & more rain! ◦ Inadequate reserves! ◦ Lack of appropriate documentation! ◦ Many ideas, designs, & suggestions from owners for how roofs can / should be done! ◦ Interior & furnishings damages! ◦ Incredible amount of people power, volunteer time, surprises, hoops, blood, sweat, & tears (literally)!

Resolutions: ◦ Hired professional consultants (we are not roofers) but also debated, researched, questioned, & maintained full involvement in the process ◦ Guided thru permit, bidding, contract process by a patient, knowledgeable, & connected architect ◦ Decided on & contracted with a well-respected local roofing co. with a very reasonable bid ◦ Realized a Special Assmt. was necessary to move forward. & here we are……. 50 % of owners need to agree!

Some helpful “ingredients” for successful Board Membership: 1. be willing to work, email, respond, listen, be part of a team, be discreet, & always try to be representative of all owners 2. communicate respectfully & professionally with others, even though you may disagree 3. recognize we are all here because we care about Maui Sands 4. be familiar with Maui Sands’ By-Laws & House Rules 5. realize that the AOAO is a non-profit entity 6. understand that there are 2 Boards (MS I & MS II) 7. use your experience / education / passion / knowledge / love of Maui Sands to provide expertise 8. realize that we all have gifts, talents, & skills to share (all Board members are created equal!) 9. provide critiques as needed but realize you need to be part of the solution, not part of the problem 10. recognize that serving as a Board Director is a voluntary, elected position and means giving your time to the larger community (but it can be all consuming!)