Board Meeting, January 15, 2025

• January 15, 2025

Minutes for the San Antonio Village Homeowners’ Association Board of Directors
Monthly Meeting on January 15, 2025

The board meeting was called to order by President Dawn Lucian at 6:00pm. Other board members present were Cindy Capra (Secretary) and Emilie Dressaire (Member at Large). Diane Kirchner Vice President resigned. Michael Porter was out of town for meeting. Also present were Daniel Ortiz manager and 9 residents.

1. A motion was made by Dawn Lucian to approve previous meeting minutes of November 20, 2024 and seconded by Emilie Dressaire.

2. Manager’s Update:
a. We have a new gardener named German who replaced Chuy. He started 1/14/2025. We now have 3 gardeners.
b. Next week there will be a full tenting of 5106 Calle Real.
c. Some sidewalk cracks are going to be corrected; this will involve some jackhammering and construction.
d. A big portion of the fence between Pebble Hill and San Antonio Village fell down. The fence is being replaced. Although the total cost is approximately $16K, Pebble Hill will be contributing $8k to that. Our net cost is only going to be approximately $8k.
e. There will be some hot crack sealing in a few of the cul-de-sacs. This will all be part of the reserve balance.
f. A resident was asking about the timing of re-roofing her unit. Daniel indicated they can come up with schedule and talk later.
g. Smoking Ban Follow Up: The lawyer that we use is transitioning to a new company; we will follow up regarding verbiage for the smoking ban in the complex. SAV will bring it to vote no matter what.

3. Treasurer’s Report
a. Interest income was booked from a maturing CD-$3,261 in income.
b. Transfer fees are from sale of a unit.
c. Grounds/Landscaping vehicle expense and maintenance vehicle expense was higher than budgeted due to some repair on trucks.
d. There was no water expense booked for month of December 2024. That correction will be made by next financial statement reporting.
e. There is an error in the fiscal year to date assessments-reserve account. This was due to an erroneous journal entry that was not needed when reserve money was moved from a maturing CD to a cash account. This will be corrected by next financial reporting.
f. Overall year to date total income is $50k over budget due to 1 less gardener and a water utility bill not being booked in December (appx $15k). Net overage at this time is estimated to be closer to $35K.

4. Earthquake Insurance Discussion
a. Thayer White who is a resident and his co-worker Jamie Barth from Brown & Brown Insurance Services were present to review some EQ insurance costs and coverage information for review.
b. Currently as of 2/15/2025 State Farm is dropping the EQ coverage on village policy. EQ insurance is carried currently by less than 15% of Californians. San Antonio Village has incurred no damage at all during previous earthquakes.
c. New cost for GL insurance will decrease from $86K to $80K for 2025-26 policy year.
d. EQ portion of State Farm policy was $63K; estimates for coverage through Brown & Brown ranged from $220K to $185K (5% deductible to 15% deductible) with $40M coverage (2 to 3x what we were paying).
e. While there is a % deductible that must be paid by homeowners for any loss, there is still a minimum of damage that must be paid by the association (special assessment to homeowners) plus the deductible before insurance pays.
f. The EQ insurance is very costly and homeowners would ALL have to absorb as a special assessment charge a claim even if there was damage to only a few units.
g. Last really large earthquake to Goleta area was 5.1 in 1978 – there was no damage to SAV.
h. Thayer is going to provide more concrete quotes before next meeting to review.
i. A reminder that our State Farm agent Paul Cashman recommends Individual homeowners purchase loss assessment coverage for earthquake insurance through their homeowner insurance carrier that is provided by CEA (California Earthquake Association).
j. Individual insurance would cover their personal property/belongings within their unit. Although structural coverage is not included through individual CEA insurance the likelihood of structural damage to an individual unit is very small.
k. We will follow up next meeting regarding EQ insurance.

The meeting was adjourned at 7:05pm.

Respectfully submitted by Cindy Capra, Secretary