Meeting Minutes of THE BOARD OF DIRECTORS OF
OCEANFRONT PLAZA CONDOMINIUM ASSOCIATION, INC.
December 5, 2022
Meeting Called to Order at 9:18 a.m. by Zoom and in Person
Person’s in Attendance: Lina Blanco 1610, Layda Nasr 1210, Bonnie Ramos 507, Belinda Behar (property manager) Edward Sellinger (1710)
Attendance via Zoom: Lilly Penelas (503), Gabriel Cano (1704), Teresa Vilar (202) Board President, Rosa De La Camara (Attorney)
The agenda was as follows:
- Call to Order by the President
- Call of the roll and certifying quorum
- Proof of notice of Meeting.
- New Business: Approve loan with Popular Bank up to $1.5M (to fund the 40-year recertification and projects including but not limited to completing elevator repair, ATS generator electrical, basement lights, post tension cables, lobby traffic, basement, waterproofing, jasmine repair, painting, roofing, drawings, balcony and stairway waterproofing, pool fence, related costs, soft costs and contingencies)
The board met on December 5th to approve the loan package with Popular Bank. Present at the meeting was a quorum of the board: Teresa, Bonnie, Lina.
The Motion was made by Teresa, seconded by Lina, all in favor.
Motion to approve (i) the Association borrowing up to $1,500,000.00 from Popular Bank under the terms set forth in the commitment letter dated 11/16/22 (ii) the loan documents as modified by Association counsel, (iii) authorizing Bonnie Ramos and Lina Blanco to sign the loan documents and draws and (iv) approval of the bank’s Board Resolution.
Meeting called to order 9:18 a.m.: Adjourned 9:22 a.m.