1936 S Ocean 21D, Hallandale Beach, FL 33009 (MLS# A11975460)

Supplements: Taromina Apartments Meeting MinutesDate: Thursday, March 20, 2025Attendees:- 7 Board Members which included, President and Vice President.- Irena (former President)- many members of the Co-op.Quorum:A quorum was achieved, and the meeting was called to order.Discussion:1. *Insurance for Building*: The President opened the discussion on insurance for ... (Read more) Taromina Apartments Meeting MinutesDate: Thursday, March 20, 2025Attendees:- 7 Board Members which included, President and Vice President.- Irena (former President)- many members of the Co-op.Quorum:A quorum was achieved, and the meeting was called to order.Discussion:1. *Insurance for Building*: The President opened the discussion on insurance for the building, highlighting a shortfall for 2025 insurance.2. *Insurance Renewal*: The insurance renewal date is April 13, 2025. Lapsing on insurance would result in a 30% increase.3. *Assessment for Insurance*: The President proposed an assessment of $180,000 to cover the insurance costs.4. *Current Funds*: The association currently has $142,000 in the bank.5. *Shortage of Funds*: The President emphasized the serious shortage of funds for expenses.6. *Special Assessment*: The President suggested a special assessment of $180,000 to cover the insurance costs down payment cost that is equal to the previous year 2024.7. *Alternative Funding*: Irina (previous President) suggested allocating $13,000 from the 2024 special assessment to the 2025 insurance payment.8. *Roof Repair*: The President mentioned that roof repair would improve the building's position for future insurance prices and open up options with other companies.9.  Plumbing Issues*: The President mentioned plumbing issues related to cut-off valves locations and the need for easy access for future repairs.Vote:A vote was held on the special assessment of $180,000, with the following results:- 6 votes in favor 1 vote againstThe special assessment was approved.Payment Terms:The President mentioned the possibility of paying the assessment in two installments:- 1st payment: April  4, 2025- 2nd payment: May 20, 2025. (Paid by Seller) Future Plans:The President expressed hope that the 2025 insurance costs would be lower than expected, leaving excess funds for roof repairs.Meeting Adjournment:The meeting was adjourned with agreement from the President and Vice President.Taromina Apartments Meeting MinutesDate: Thursday, March 20, 2025Attendees:- 7 Board Members which included, President and Vice President.- Irena (former President)- many members of the Co-op.Quorum:A quorum was achieved, and the meeting was called to order.Discussion:1. *Insurance for Building*: The President opened the discussion on insurance for the building, highlighting a shortfall for 2025 insurance.2. *Insurance Renewal*: The insurance renewal date is April 13, 2025. Lapsing on insurance would result in a 30% increase.3. *Assessment for Insurance*: The President proposed an assessment of $180,000 to cover the insurance costs.4. *Current Funds*: The association currently has $142,000 in the bank.5. *Shortage of Funds*: The President emphasized the serious shortage of funds for expenses.6. *Special Assessment*: The President suggested a special assessment of $180,000 to cover the insurance costs down payment cost that is equal to the previous year 2024.7. *Alternative Funding*: Irina (previous President) suggested allocating $13,000 from the 2024 special assessment to the 2025 insurance payment.8. *Roof Repair*: The President mentioned that roof repair would improve the building's position for future insurance prices and open up options with other companies.9.  Plumbing Issues*: The President mentioned plumbing issues related to cut-off valves locations and the need for easy access for future repairs.Vote:A vote was held on the special assessment of $180,000, with the following results:- 6 votes in favor- 1 vote againstThe special assessment was approved.Payment Terms:The President mentioned the possibility of paying the assessment in two installments:- 1st payment: April  4, 2025- 2nd payment: May 20, 2025Future Plans:The President expressed hope that the 2025 insurance costs would be lower than expected, leaving excess funds for roof repairs.Meeting Adjournment:The meeting was adjourned with agreement from the President and Vice President.