NOTICE OF THE ANNUAL MEMBERSHIP MEETING SUMMERDALE TOWNHOMES HOA, INC.
TO ALL MEMBERS:
On Tuesday, December10th, 2024 at 7:00 p.m., at the Countryside Rec Center located at 2640 Sabal Springs Dr. Clearwater, FL 33761, Room 512, the Annual Meeting of the Membership of Summerdale Townhome HOA, Inc. will be held for the purpose of conducting its lawful business. An identification of agenda items is as follows:
1. Certifying Quorum/Roll Call
2. Proof of Notice of the Meeting
3. Approve 2024 Minutes / Posted
4. Presidents Report.
5. Managers Report
6. New Business
7. Vote to carry over surplus funds
8. Nominations for Board members
9. Adjourn Meeting
A majority of all Association Members (“a quorum”) must be present, in person or by valid proxy at the meeting, in order for business to be conducted. It is, therefore, VERY IMPORTANT that you either attend or provide a proxy in order to conduct Association business.
Enclosed with this Notice is a Proxy to be used in the event you will be unable to attend the meeting. Should you be unable to attend the Annual Meeting, it is imperative that you complete and return your proxy for the Association to obtain a quorum. Without a quorum, the meeting cannot be conducted and must be rescheduled, which is a considerable cost to the Association. Please return your proxy even if you plan to attend. This will help in obtaining a quorum for the meeting.
With regard to the proxy, there is one voting issue to be considered, an explanation of which is provided below:
1. Carry Over of any Surplus Funds: The Internal Revenue Service Administrative Code requires the Association to address the issue of surplus funds, if any, at the end of a budget year. The Board is recommending the 2016 surplus funds, if any, be carried over in the operating account to be used as a credit towards future maintenance fee assessments. Additionally, any surplus funds that are not carried over in the operating account become taxable income. If you agree with the Board’s recommendation, then you should vote FOR carryover of any surplus funds.
ORGANIZATIONAL MEETING: The election of officers will be held at the next regular Board of Directors meeting.
Finally, enclosed is a copy of the approved 2025 budget. The approved budget provides for a increase in maintenance fees for 2025 in the amount of $260.00. Starting January 1 2025,
This notice was mailed to all owners of record on: November 30, 2024,
BY ORDER OF THE BOARD OF DIRECTORS. Summerdale Annual Meeting 12/10/2024
Kind Regards
Bay Area Management Services 2522 Newbern Drive Clearwater, FL 33761
Email: bayareamgt@gmail.com Mobile: 727 639 5664 Jerry Panagrossi LCAM / Property Manager
Jerry Panagrossi
LCAM / Property Manager