Attention all Association Members:
Thank you for participating in the May 2 election. Below are Voting Results:
Unit Owners were asked whether they approved of the terms of a Fifth Amendment to the Master Deed for the Condominium (the “Fifth Amendment”). The results as follows:
Votes were cast by a owners of 207 Units representing 79.1792% of the beneficial interest in the Condominium, sufficient to establish a quorum under Section 5.9.3 of the Trust.
The holders of 78.9597% of the beneficial interest in the Condominium voted in favor of the Fifth Amendment.
The holders of 0.0022% of the beneficial interest in the Condominium voted against of the Fifth Amendment.
The votes in favor of the Fifth Amendment are in excess of the 66⅔% approval required to amend the Master Deed, as set forth in Section 17 of the Master Deed.
Coupled with the prior approval of the Fifth Amendment by more than 51% of the Trustees, the Fifth Amendment is now fully authorized.
Ballot B
Unit Owners were asked whether they approved of an expansion of the Board of Trustees from 5 members to 7. The results are as follows:
Votes were cast by a owners of 151 Units representing 52.4162% of the beneficial interest in the Condominium, sufficient to establish a quorum under Section 5.9.3 of the Trust.
The holders of 37.0776% of the beneficial interest in the Condominium voted in favor of expanding the Board. This represents 70.07369% of the ballots cast in the election, by interest.
The holders of 15.3386% of the beneficial interest in the Condominium voted against expanding the Board. This represents 29.26309% of the ballots cast in the election, by interest.
The votes in favor of expanding the Board to seven members is in excess of the 50% required under Section 5.9.3 of the Trust.
The 2 newly-created seats will be filled for an initial term expiring 12/31/12 and thereafter, will be filled for successive 3 year terms.
For more details, see meeting minutes from 5/2/12 meeting or letter from the Association Attorney, John T. Morrier, made available in the building managers office. The board shall soon publish next steps regarding election of 2 newly created seats on the board.
Thank you in advance for your participation.
