BPBCA BOG November 10th, 2020 Special Meeting Minutes

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Meeting notes Long Term Capital Assets Funding Committee November 4, 2020

Meeting notes Long Term Capital Assets Funding Committee November 4, 2020.
In attendance were: Rick Diachenko, Phil Lombardo, Al Capozza, Mike Johnson, Dan Lemieux, Steve Beauchene and Ed Zito
Since our first meeting on July 26th 2020 we have collected and annualized a significant amount of information and developed a thorough list of the Association’s capital assets. They are divided into three sections: Major assets, Shoreline assets, and Other assets. Also, the report from GNCB Consulting Engineers covering shoreline maintenance costs through 2050 has been reviewed. We feel that we have gathered enough information to make a recommendation to the Board.
It is clear that the $8,500 a year that the Association has been putting aside for capital projects is woefully inadequate. The results have caused periodic major one-time assessments to cover issues that were predictable.
Our next step is to provide the Board with a strategy that will:
·         Quantify the Association’s long term assets
·         Project the cost of maintaining these assets and provide strategies to meet the funding objectives
·         Suggest ways that the Association could generate funds to help reach the funding goals
The report will be ready for the January Board meeting. Rick has volunteered to initiate the first draft.

BPBCA BOG October 22nd, 2020 Meeting Minutes

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Attachments to October 22nd, 2020 Minutes #1

Attachments to October 22nd, 2020 Minutes #2

BPBCA BOG September 24th, 2020 Meeting

 

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Attachments to September 24th, 2020 Meeting Minutes

Long Term Capital Improvement Task Force September 21st, 2020 Meeting Minutes

Long Term Capital Asset Committee notes for September 21, 2020 meeting

In attendance were Rick Diachenko, Janet Bonelli, Phil Lombardo, Al Capozza, Mike Johnson, Dan Lemieux, and Ed Zito,

The committee reviewed possible new income sources for funding long term assets. The suggested ideas from each member were evaluated and sorted into priory groupings of High, Medium, and Low.

We still have not received the final engineering report we need for assessing the value and maintenance costs of our shoreline assets. We scheduled another meeting for October 19th at 10:00 for that purpose.

Phil Lombardo

BPBCA September 5th, 2020 Annual Informational Meeting Minutes Posted

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BOG September 1st, 2020 Special Meeting Minutes

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