Mariners Cove Condominium Association

Special Minutes Meeting Agenda

October 4, 2023   7:00 pm  Zoom

Call to Order:  7:00 pm via Zoom

Attendees: Ralph Tepel, Steve Wimbush, Felecia Sutton, Jamie Ponder, Carol Hassebrock, Eric Hedges

Review of September 26, 2023 cancellation by Nationwide Insurance.  Situation has resulted in a 220% increase in property insurance premiums. We have struggled to find insurance options in the current market. The 2023 budget does not allow for this large of an increase.

Executive Session.

Out of Executive Session.

Motion to borrow $40,000 from building fund to cover property insurance down payment and 3 months premiums for the balance of 2023 and develop a repayment plan by Jamie Ponder, second by Steve Wimbush. Motion carries.

Motion to adjourn at 8:19 by Eric Hedges, second by Jamie Ponder. Motion carries.