Tiffany Lakes Condominium Association, Inc.
C/o Tower Management Services, Inc.9
00 West 49th Street Suite 22
Hialeah, Florida 33012 

Urgent Board Meeting Minutes

On July 13th, 2006, at 9:00am, Mr. Ernesto Fagundo, President, Mr. Cesar Tabora, Vice president, Mr. Domenico Ruscigno, Treasurer, Ms. Xiomara Blandon, Secretary and Mr. Ricardo Guillen, Director met with Mr Clemente De La Torre / Tower Management Services, Inc. at the unit # 187 in order to conduct this meeting. 

The following items were discussed:

  • Review of all documentation brought forth for evaluation, professional opinions and all related documents for analysis and decision making.
  • Approval of all necessary corrections to the current budget of 2006 developed by the past board of directors, in order to recuperate and fix somehow the deficit generated by the errors found in such a budget,
  • Approval of an increase the monthly association fee from $100.00 dollars to $125.00 dollars per month, from August to December in order to correct all of the errors present in the current budget 2006 which was developed by the past board of directors.  This errors have caused a tremendous deficit in our budget for which we are having serious problems fulfilling the current contracts and financial obligations brought forth by the past administration,
  • Approval of an increase in the late fee to $20.00 dollars per occurrence,
  • Approval of a letter to be sent out, explaining everything related to the 2006 budget developed by the past board of directors, the errors in the budget, comparison of the budget developed by the past board of directors and the real statutory amounts that should be current and depicted in the budget, the deficit generated and how it is a must to increase the monthly association fee in order to correct the serious problem and an increase in the late fee.

Motion was made by # 1 Ernesto Fagundo, # 2 Cesar Tabora, # 3 Domenico Ruscigno, # 4   Ms.  Xiomara Blandon and # 5 Mr. Ricardo Guillen to approved or disapproved accordingly.  Decision was made by # 1 Ernesto Fagundo, # 2 Cesar Tabora, # 3 Domenico Ruscigno, # 4 Ms. Xiomara Blandon and # 5 Ricardo Guillen to approve unanimously all of the items above mentioned and brought forth at this meeting.

Meeting was adjourned at 11:45am.

Sincerely,

Tiffany Lakes Condominium Association, Inc.

Per the Board of Directors

 

___________________

Secretary