2026-04-21 Board Minutes

Landings Condominium Association

Board of Directors Meeting Minutes

Date: April 21, 2026

Location: Board conference call / virtual meeting

Landings Condominium Association

Board Meeting Summary

Landings Condominium Association

Board Meeting Summary

Meeting Opening

Steven opened the meeting with a quorum present, including Jared, Pat, Eli (joined later), Joe, Chiara, and himself.

Financial Update

Joe reported on financial matters, noting that financial statements were delayed due to a personal matter with our property manager. He highlighted two key issues: outstanding accounts receivable from 2 owners ($3,085 and $2,535 respectively), with certified letters having been sent but now requiring legal action. Steven will reach out directly to these owners.  

Insurance Update

Joe also discussed insurance complications, explaining that the expected elimination of insurance financing did not materialize, resulting in an additional $7,000-$8,000 cost plus $13,000 for financing, and that the insurance company did not reduce the $250,000 deductible potentially due to ambiguous wording on the electrical certificates from the Town of Southampton.  Due to the size of the insurance premium, we pay for this insurance in several installments resulting in about $13,000 in financing cost.  Steven observed that insurance remains our largest expense and noted that while remediation efforts help address potential hazards, insurance companies are typically reluctant to reduce premiums significantly once they reach a certain level.

The group explored financing options for the insurance, with Joe revealing the current financing rate is 17.7% reduced from last year’s 20%. Steven will reach out to M&T bank to explore a line of credit.

Post-meeting Note:  After further discussions with the insurance company and providing detailed information on the electrical remediation completed, our electrical deduction has been reduced from $250,000 to $25,000.

Board Roof Repairs Discussion

The board discussed the need to address roof repairs across multiple buildings. The group agreed to obtain at least three estimates from roofers, though they noted that insurance premiums might not decrease even after roof replacement. Pat will research historical records about when the roofs were last replaced.

Deer Spraying 

The group discussed renewing the deer spraying contract, with Joe clarifying that it’s a service arrangement rather than a formal contract, and agreed to continue through the season. 

Tree Removal 

The board discussed tree removal completion. Pat confirmed the removal was completed on Saturday with stump grinding to be done soon before boating season begins May 1st. 

Community Rules

The board discussed community complaints regarding parking spots and neighbor courtesy. The group agreed to have Ryan send a reminder to the community about community rules.

The next board meeting was scheduled for May 26th at 7:15 PM.