January 15, 2009-held at SEMG office

Attendees Eddie McCoy- (via conference call)-Board Member

Ed Miskotten- Board Member

Nick McGinty-Board Member

Stuart Reeves-Board Member

Brian Swan-Board Member

Bevin Carchidi-SEMG Staff

Jessica Nelson- SEMG Staff

Lyndall Dantzler-SEMG Staff

Bruce Wallace-AMH Staff

Call to Order The meeting was called to order at 1:05pm

Establish a Quorum Quorum requirements were met

Approve December Meeting Minutes The 2008 Annual Meeting Minutes were approved

The December 15, 2008 BOD meeting minutes were approved with one correction, that

being the date of notice to terminate Marina Management contract (March 2008 vs. Feb

2008)

Election of Officers/Assignment of Titles Eddie McCoy proposed and other board members agreed that: Each office will be the

Chairman of a subcommittee of the Board (4 total). The President will assist as co-chair

The functions of each were discussed and set forth:

o President: Eddie McCoy- co-chair of all subcommittees

o Vice President: Stuart Reeves- Chairman of Operations, grounds and maintenance

committee-Oversee facility functions, operations and conditions working with

staff

o Vice President of Communications: Ed Miskotten- Chairman of Community

Relations- Work with hotel and developers to establish an amicable working

relationship

o Secretary: Brian Swan- Chairman of Membership Relations- Communicate with

membership on a regular basis with meeting minutes and/or clarification letters

within 2 weeks after meeting

o Treasurer: Nick McGinty- Chairman of Finance Committee- Work with

Southeastern Management Group, Inc. and Regime Marina Manager in

overseeing expenses and billing issues

Motion to approve election and Committees was made, seconded and voted yea

unanimously

Discussion How to proceed in meetings: E-mails are important for communication between meeting,

but not for voting on regime issues

Board agreed that a February meeting was necessary

Board agreed to follow with bi-monthly meeting after that

Board will look to hold the annual meeting in November of 2009

Discussion How to communicate with Association Members: Will compile an email list and begin

posting on a regime website

Motion to try to use the current Ashleymarina.com as offered (created by AMH), if this is

not an option the Board will look to create a website that is specifically owned by the

regime (Brain Swan to coordinate)

Motion to do so was made, seconded and voted yea unanimously

Goals for 2009 Bruce Wallace recapped 2008 expenses for new Board Members: $13,000 in repairs and

additions, payroll down $14,000

Working with SEMG CFO (Lyndall Dantzler) on reconciling workman‟s comp between

AMH‟s 3 marinas

New parking tags will be issued. Bruce asked for the ability to boot illegally parked

vehicles. It was decided that this should be left to a professional company for liability

purposes. SEMG and Bruce will coordinate

Eddie McCoy suggested that goals were covered in through the discussion and the

meeting proceedings so far

Old Business Live Aboards: established that there are four (4) owner and twenty-eight (28) renter

liveaboards, liveaboards were defined as staying overnight on a boat for 14 or more days

in one month, Brian Swan motioned to include owner liveaboards in the $75.00 monthly

fee, Stuart Reeves seconded, board approved unanimously. Discussion resulted in a

deferment for the liveaboards to start March 1. Bruce will keep a current list for SEMG

to bill owners and will collect the fee from renter liveaboards and reimburse owners

AMH Contract: Pursuant to the 2008 board notification to terminate AMH‟s contract in

2009, Eddie suggested that RFP‟s should be prepared and sent out by February 1, 2009

with a March 1, 2009 due date. It was decided that no more than six (6) companies be

considered for hire by the board. Members agreed to finalize RFP content vial emails

and would use Pat Welch‟s outline as a starting point.

Electricity Billing: Board discussed cost versus benefit to follow through with this

process. Additional metering of the T-Dock will cost $17,000. This expense was not

budgeted for. Assessing the owners for this cost or taking the money from the reserve are

not adequate solutions at this point in time. The fairness issue was discussed, and

decided that the status quo is not perfect, but changing is not affordable at this time. As a

result the board voted not to proceed. Eddie made the motion to do the following:

Continue studying the electrical issue, but distribute the regime fee coupon books based

on ownership percentages (linear foot basis) as governed by the Master Deed, and not the

actual electrical costs per slip. Motion was seconded and then revised to add that all

power charges be collected by any pedestal or sub station box will be collected and give

to the regime. This motion was seconded. Brian thought that this was already being

done, but it was only the substations user fees that were being reimbursed, not pedestals.

The motion passed with 3 yeas, 1 nay (Brian Swan), and one abstention (Stuart Reeves).

Open Forum Brain mentioned the Marian Fuels payroll reimbursement issue. It was suggested that

discussion of this be deferred and perhaps worked out by the RFP process and bid

returns. Nick proposed that the RFP provide two options: one for manning the fuel

pumps and one without.

Eddie McCoy summarized that the most important issues were preparing the RFP and its

scope of services to be distributed by Feb. 1, 2008 and making the decision not to

proceed with the electric allocation in order to avoid spending more money in the current

economic situation we are in as well as:

A. Continuing costs of accounting for the quarterly and annual calculations, the costs

of providing ongoing meter reading results/calculations to owners, cost of conflict

resolutions and the additional metering costs

B. Getting common area costs tied down is the most important to an accurate

allocation and from what I see, we are not there now

C. Publishing inaccurate regime payment information to members will only inflame

the situation more than has been reported to date

Our commitment is to continue to meter so that data is available to find abuses and when

we can affordably accomplish and overcome the short falls of the planned conversion, we

will move back in this direction. Either or both the Finance and Operations committees

should continue to examine the problem and possible solutions.

Motion to Adjourn Unanimously approved. Meeting was adjourned at 4:08pm

Submitted January 16, 2009, by Brian Swan, Secretary

The Harborage at Ashley Marina, HPR Board of Directors Meeting March 06, 2009-held at the City Marina Conference Room

Attendees Eddie McCoy- Board President

Stuart Reeves-Vice President

Ed Miskotten- Vice President of Communications (via phone)

Brian Swan-Secretary

Nick McGinty-Treasurer

Bevin Carchidi-Association Manager, SEMG Staff

Call to Order The meeting was called to order at 3:04pm

Approval of Minutes The January Minutes were unanimously approved.

Financial Report Nick McGinty reported on the following regarding the Ashley Marina financials:

o Salary reimbursement from AMH not shown in Jan. statement, and Dec.

Workman‟s Compensation is left out.

o Insurance looks higher than budgeted and not sure why it went up $23K

o The accounts receivable missing from the balance sheet

o Insurance quotes are limited, as Gerard Stelling is the only one working on

quotes, AIG probably not. Questions are comfort with Chubb

o There‟s a discrepancy in the Salary reimbursements; i.e., the AMH agreement

said that the regime would pay 75% and AMH 25% payroll. In ‟07 and „08, the

regime paid 100%. AMH acknowledged they owe us the 25% for ‟07, which is

about $22K. There is still discussion on ‟08 – we figure they owe $21k after

Marina Fuels paid $25k ($46K total). Methods of resolution were discussed:

litigate etc.? The subject was tabled for the executive session portion of the

meeting.

Operations

Bruce Wallace arrived and spoke for the management – He passed out an outline of

issues ongoing, and reported no recent large expenditures. (List should be made a

part of the minutes)

Member Relations

Eddie McCoy reported on the newsletter and will assume the reasonability of creating it.

Joe Miller at first said the regime could share the AMH website, but then tied it to his bid,

so the board created their own, and decided on the name Myashleymarina.com.

Nick McGinty requested a financial statement by the 10th instead of the 15th so it can be

included in the letter.

Community Relations

Ed Miskotten reported on his meeting with the Courtyard By Marriott

The purpose of the meeting was to see if a sharing agreement could be created to allow

regime members the use of the Marriott pool. They explained that its not allowed due to

their insurance limitations, but will give commercial discounts to Marina patrons.

Their dock will no longer be used for flotilla customers this summer.

Old Business

The wireless study previously approved was put off, but is the regime still interested in

completing this project?

The facts are: it will cost $2K, minimum bid would be $15k, current repairs are now at

$2647, and total system upgrade would be $6177.

The Board determined that, if the study were to go forth, the Board would not choose the

Aerolina plan. Nick will get Glover (who did The City Marina) to look at our system.

Board voted unanimously to move to Comcast, as we can‟t use AMH‟s system (DSL),

and T1 is too expensive.

Adjournment

Meeting adjourned at 4:45 PM

Executive Session

Board entered into executive session to discuss the 5 management bids received.

The results of that session were that we narrowed the selection down to 2 bids from

SEMG and AMH.

Submitted by Brian Swan, Secretary

The Harborage at Ashley Marina, HPR

Marina Management Contract Meeting

March 17, 2009-held at the City Marina Conference Room

Attendees Eddie McCoy- Board President

Stuart Reeves-Vice President

Ed Miskotten- Vice President of Communications

Brian Swan-Secretary

Nick McGinty-Treasurer

Jessica Nelson-Association Department Head, SEMG Staff

Lyndall Dantzler- CFO, SEMG Staff

Call to Order The meeting was called to order at 1:30pm

Clarification of Management Proposal Submitted by SEMG The purpose of this meeting was for clarification of SEMG proposal. There were not

many questions asked and little discussion.

Brian Swan inquired if SEMG had a prospective employee to hire as the Ashley Marian

Manager. Southeastern Management Group indicated that they did not.

Open Forum SEMG departed at 2:00pm

The Board held a discussion on the Marina IP system-proposal submitted by Aerolina.

Originally the regime was receiving free IP from AMH but they switched for T1 to DSL.

Currently, 1 radio is out on the T dock, and it will cost $650 to replace. The Aerolina

repair estimate increased from $650 to $2640. They submitted a proposal to replace the

system. The cost for this work is $6200.

E System Solutions (a new vendor) also submitted a proposal for a new system. Their

cost for this work is $5600 ($3500 equipment and $2100 labor). It has an easy repair

procedure by simply replacing radios that our staff can easily handle. Stuart motioned

that we accept their proposal, and Brian seconded it.

Comcast charges $25000 for their systems to service the docks

The labor portion will be recaptured in the Aerolina proposal, which has a $275/ month

service fee. ESE also has more units for spares, should one go down. All agreed that

ESE was a better deal, and the motion was passed unanimously.

Bill Thorpe (T-24) wants to run fiber optics to his slip this spring. (Claims he was

guaranteed this request when he bought the slip). This would be a difficult and disrupting

project. Hopefully, the new system by E Systems Solutions will suffice.

Motion to Adjourn

Motion to close was made. The motion was unanimously approved.

Submitted by Brian Swan, Secretary

The Harborage at Ashley Marina, HPR

Marina Management Contract Meeting

April 15, 2009-held at the City Marina Conference Room

Attendees Eddie McCoy- Board President

Ed Miskotten- Vice President of Communications (via Phone)

Brian Swan-Secretary

Nick McGinty-Treasurer

Joe Miller-Ashley Marina Management, LLC

Bruce Wallace-Dockmaster, Ashley Marina Management, LLC

Clarification of Management Proposal Submitted by Ashley Marina Management. Eddie started the meeting by saying that the RFP was made assuming that the bidder

would be offsite, and now AMH is taking advantage of some of the wording in their bid,

to gain concessions on our part. The regime now has to pay for workman‟s

compensation, so our insurance has gone up from $65K to $92K. AMH won‟t agree to

allocate on this.

Nick went through a list of points that remain in contention with selecting AMH for

management:

o AMH wants an escalating Mgmt. fee. Originally 4.5% annual or based on CPI.

o Payroll – AMH wants for over/under the baseline for payroll. We can agree to up

to 3%/year. Nick suggested that Bruce‟s salary be excluded from the baseline.

Ed motioned that Nick and Eddie finalize the agreement with resolution of these items,

and Nick seconded the motion.

Nick continued to discuss points of contention:

o The regime pays 100% of one phone line, but Bruce wants two. We propose that

AMH pay for one, and the regime pay for the other.

o Slip direction???

o AMH wants rewording in the agreement because of his concern that the regime

may hire employees around them. They suggest the wording “directly attempts”

in that specific section.

o AMH wants the regime to pay for infrastructure items, which is a constant $62.50

per month. We have no problem with that.

Nicks previous motion was passed unanimously, and Nick/Eddie will work out the above

details with AMH.

Eddie said that he worked out the address with Joe. The Harborage will be 33

Lockwood, and Joe‟s building will be 33A.

There was discussion on the regime fees that AMH owed. They were three (3) months

behind, but paid before our management bid meeting. Should this happen again, the

Board may choose to offset delinquent regime fee payments against their management

fee.

The meeting was adjourned.

Submitted by Brian Swan

The Harborage at Ashley Marina, HPR Marina Scheduled Regular Meeting May 15, 2009-held at 33 Lockwood Dr AMH Conference Room

Meeting started at 10:11 am.

The following board members were present:

Eddie McCoy

Nick McGinty

Brian Swan

Ed Miskotten

Stuart Reeves

Bevin Carchidi (SEMG)

A quorum was established.

A slight few changes were made to the 3/06/09 minutes, no change to the 3/17/09

minutes, and the 4/15/09 minute were changed, as slip direction rentals was amended.

Then all were unanimously approved.

NEW BUSINESS

Nick McGinty: AMH payroll in '07 ended up owing the regime ~$21,000, and has satisfied

$17,000 so far. The $4100 remainder will be deducted for payroll in May '08. There is a

remaining '08 balance, ~$21,000 - $25,000. Joe Miller, of AMH thinks that the agreement

changes the payroll contribution, and this is not owed. No resolution on the subject. Nick

thinks the subject could be deleted, but asked the BOD if they want to pursue it. Bevin

suggested we could get a contract attorney. AMH thinks SEMG is to blame for the

controversy in the contract. SEMG will submit a statement saying that they had no

participation in creating the contract. The BOD can then tack that with the agreement itself

and get a legal interpretation. If it is in our favor, we will pursue. If not, then we will

decide the outcome from there.

Nick McGinty: The master deed allows for live boards: It is in a sub-section of the

Operations and Management Manual required by OCRM permit. Basically, it says that live

aboards are allowed, and that the management of the marina decides the contract

pertaining to them; thus, our decision to charge an add-on fee is proper. We have a regime

member, John Hall, who disagrees, and says this fee is improper. There will be a meeting

with John, Nick and Eddie to discuss and hopefully satisfy the member who disagrees.

Eddie McCoy: The master deed gives the BOD authority to incur late fees for regime dues

in accordance with BOD discretion. There is a question of policy on this subject. Nick

motioned that we should incur a policy of $25.00 or 1.5% of the total due, starting

6/01/09. A letter with notice of this policy is to be sent to the regime members. Brian

seconded the motion, and the motion was unanimously approved.

Bruce Wallace, the marina, manager arrived at this point, with a report, and any BOD was

put on hold for his report.

Bruce Wallace: We need new trash cans, as evidenced by the existing ones missing lids

and parts. He recommends the Rubber Maid style to save money over the existing

aluminum ones. They are $50 each, and we need 10 - 12 of them, and they will be placed

only at the head of each dock. Stuart asked to get prices on other alternatives. Also,

discussion on long term storage of vehicles. There have been several parked for many

weeks. Bruce asked for a definite policy on this. The question is what is allowed. After

discussion, the BOD agreed that 7 days maximum, starting 7/01/09 should be the policy.

Notice to AMH should be given. The visitor section of the parking lot will be monitored for

compliance by Bruce.

Bruce Wallace continued: Would like to have a contract with a tow company to monitor

the lot regularly. After discussion, the BOD decided not to have patrols or do booting - the

current situation seems under control with diligence from the management.

There is still a cable problem, and comcast is "passing the buck" leaving Bruce with

questions. Nick offered a resource that the City Marina uses, and Bruce will follow up with

him.

There are still 5 vessels without proof of insurance. BOD will follow up w/ a notice of

requirement within ten days of receipt of the notice.

OLD BUSINESS

Eddie McCoy: Accounts Receivable on the budget are good, but could get worse. General

Building Maintenance is slightly jumbled, as items aren't in the correct category. Payroll is

way under budget, due to reimbursement from AMH

Dock Office Construction: Eddie wants to start a fund for this purpose. Nick wants to clarify

the OCRM permitting, because a new permit means upgrading the old permit, which usually

means new requirements and expenses. Nick also suggested that we may want to offer to

buy the existing dock house from AMH. One never knows how that may go. No definitive

decisions were made.

Silting: Nick noted the silting around A1 - A3 docks, and the BOD thought it was from the

drainage ditch opposite those slips. The question is who is responsible. Brian suggested

DOT and BOD may want to talk about it. Perhaps a filter could be installed. The item was

noted for the future.

The regime website: Eddie explained that the Phase I portion of getting the association on

a website with communication capability is done now, in gratis. Phase II and III will be

more work, more detailed, as it will involve financial transactions (billing, paying) etc., so it

will need to be secure. Eddie is suggesting that we hire a professional to create this

capability. The goal here is to increase the value of the site for the regime by making

things simple, and perhaps acquiring sales revenue from slips and advertising. The BOD

agrees that this is a worthwhile goal, as having it automated reduces the administrative

needs of AMH. The approximate cost of this would be $4500 - $5000.00. Nick suggested

that Eddie summarize the proposal with real numbers for the BOD to approve.

Furthermore, once approved, the project should be put out for bidding.

A motion to adjourn was made by Brian, and unanimously approved. Time was 1:30 pm.

JUNE 30, 2009 10:00AM

Marina Special Meeting Meeting June 30, 2009-held at the City Marina Building Attendees: Eddie McCoy Stuart Reeves Ed Miskotten Nick McGinty Special Purpose Meeting: This meeting was called in response to an inquiry from a Unit Owner regarding the legality of the recently implemented Live-Aboard fee that was established, approved, and implemented by the current Board of Directors. Members in attendance discussed the Board’s position on this matter and the counter arguments posed by the Unit Owner; who ultimately said he would pursue legal action if the Board did not show legal evidence of their ability to charge a Live-Aboard fee under the master deed. Motion was made by Nick McGinty; to hire an attorney to provide a legal opinion on the legality of the live-aboard fee as imposed under the master deed. Motion was seconded by Stuart Reeves Motion was passed unanimously Meeting was adjourned at 10:24 AM

Submitted by Brian Swan

September 8, 2009 - held at The City Marina Office - called to order @ 2:15 PM

Present were:

Eddie McCoy

Stuart Reeves

Nick McGinty

Brian Swan

Bevin Carchidi (SEMG)

A quorum was established.

NEW BUSINESS

Nick McGinty: Stated that our attorney (for the matter of pursuing payroll reimbursement)

advised that we probably shouldn't proceed w/ legal action. The court would probably favor

AMH since the BOD had proceeded with business anyway (wrote checks for it). This advise

is still preliminary, and not final yet.

- The attorney also advised that the BOD is legally allowed to implement charges for live

boards.

- The BOD will advise the complainant, John Hall, which we have not heard from any

further at this point, and we will continue to charge.

- Bevin suggested an attorney from Atlanta that SEMG uses, since there are only 4

attorneys in Charleston that handle this sort of issue. Eddie wanted to amend the Master

Deed, once this is settled. There was much discussion on how to word it. Nick suggested

that we use the words "fee regulation" as opposed to "live aboard fee", and all agreed. This

would be added to section 4.2 d, and should work well. The BOD will make a resolution to

be presented at the annual meeting. It was then tabled for further discussion.

- Nick will draft a pre-annual meeting letter, as stated on the meeting agenda.

- Nick stated that the financials are in good shape, as we are in the black for $28,000. YTD

revenues are up due to electricity billing for transients going to the regime.

- Eddie proposed quarterly fees for live boards, instead of monthly, for budget purposes. All

concured. A motion was then made by Nick to all fees be made due on the first of the

month, and considered late by the 10th of that month. This would go into affect October 1,

2009. Motion seconded by Brian Swan, and passed unanimously.

- Another motion was made by Eddie to create quarterly regime fee payments, starting

Jan1, 2010, then April 1, 2010, July1, 2010, and October 1, 2010. Motion was seconded by

Brian Swan and passed unanimously.

- Stuart stated that garbage cans will be budgeted for next year. Also, the gate is being left

open, and trash is always left behind the dumpster.

- Nick stated that the Ice machines are common property, but the profit from ice sales are

going to AMH. BOD will ask Bruce to sort out.

- Brian stated that bicycles on the dock are dangerous to pedestrians, if they go to fast and

provide no warning that they are approaching. Eddie stated that the BOD will get Bruce to

provide subtle signage on the gate to get cyclers to be careful

OLD BUSINESS

- Eddie stated that he is giving up his Co-chair position on the operations committee to

allow Brian to take that position. One of the immediate goals of that committee will be to

examine the electrical billing situation, and come up with a report and recommendations.

- A date for the annual meeting was set. Eddie suggested a weekend because so many live

out of town, but the majority BOD decided against this. The meeting was set for 11-16-09

@ 6:00 PM.

Meeting was adjourned at 4:25 PM.

Minutes of the Board of Directors October 29, 2009

Ashley Marina (AMH) Conference Room

Quorum Established and Meeting called to order @ 2:10 PM

Present were Eddie McCoy, Brian Swan, Stuart Reeves, Ed Miskotten, Nick McGinty, and Bevin Carchidi, from SEMG. The minutes of the September 9, 2009 meeting were approved unanimously NEW BUSINESS Brian Swan presented the results of the electrical study. The goal was to determine the value of metering each member's exact usage as if everything was separately metered. In summary, the study resulted in the electrical average use per foot, in order to establish a baseline average of electrical usage per slip. That usage covers all common areas also; therefore, it is a fair figure for each slip owner to pay. With that in mind, Brian proposed that, in order for larger users to actually pay for their use over average, any usage above the established average for each given slip be charged to that owner, with no credit given for any under usage. There was much ensuing discussion. Ed opposed any changes to the status quo. Stuart suggested the status quo is what we all bought into, and it would be difficult to change. Nick suggested that it may not be possible because of limits delineated in the master deed. Brian restated that the system still remains unfair. Stuart moved that the discussion be tabled in order to research the legalities of the option. Eddie suggested that maybe John Hall would be willing to look at the situation. A motion to table the item was passed unanimously. (The study is attached hereto and included herein by reference)

Stuart Reeves proposed that we need to proceed with purchasing a good quality trash can that can hold the extra large heavy duty bags, and reduce the number by placing the cans at the head of each dock. Eddie suggested worrying about the enclosures for the cans later. Stuart also proposed the need for another bike rake at a price of approx. $500 - $900. Stuart moved for the purchase of 16 40 gallon cans, and another bike rack at the best price. A motion to proceed on both items passed unanimously. Nick McGinty presented the results of 3 meetings on the subject of live aboards. The goal was establishing the legality of the BOD decision to charge fees, after a challenge was presented by John Hall. The result of the meetings was the conclusion that the BOD cannot charge the fee due to the wording of the master deed which does not allow the BOD making that sort of charge. Nick moved to settle with John Hall's terms, which is to withdraw the master deed resolution, and refund and cease live aboard fees. IT was seconded by Ed, and passed unanimously. Nick explained the payroll discrepancy by AMH. BOD solicited legal advice in June, which was not in our favor. Nick gave a financial review of the budget comparison and the balance sheet. Basically, payroll was reduced and insurance premium was up. Nick presented the 2010 budget to be presented at the Annual Meeting. Ed moved to approve, and Brian seconded. It was passed unanimously. Eddie McCoy stated that the notice of the Annual Meeting was properly sent out by mailing on 10/16/2009. Eddie mentioned that the BOD is aware of the situation that AMH leasing is remitting the electrical fees to the Regime. However, AMH is keeping a portion of the electrical revenue. Also, the regime should have an actual contract with management. Some discussion about the annual meeting took place. The BOD decided renters or anyone is allowed, even without proxy. Motion to adjourn was unanimously passed at 4:30 PM. Respectively submitted, Brian Swan, Secretary

Operations Committee Electrical Report

Goal is to determine the value of fully and equitably metering each member's exact usage.

(Everything separately metered)

Known Facts;

1.) Sub metering costs:

T-dock - $14,000, Fuel Pumps - $2000, Laundry room - $2000, Bathrooms - $2000, Dock

House - $2000

Total added costs - $22,000.00

2.)Non Metered areas using electricity (common areas)

- Parking lot lights, dock lights, dock house, gas hut, ice and soda machines, and

substations on T dock

3.)For 09 YTD, we collected approx. $6000 for transit electrical, and $13,000 for liveaboard

fee

or time period August YTD '09

Took total # hours billed by SCEG minus all metered readings (slips and bldg) = non

metered common areas. Non metered hours x $.092/kwhr* = $4773.00. 4773/236 ==

$20.00/mo. that each member pays

Average monthly cost is $681.85 x 12 = $8200.00 per yr.

* Average Kwhr charged per month provided by SCEG for 12 month period

Then we established basic electrical use rate (including common areas) by:

Total Kw for 12 mo., (1,222,960) divided by total ft of dock space (10915) = 112.05 kw per

year per ft. 112.05 divided by 12 = 9.34 KW per ft per month. 9.34 x $.092 = $0.86 per

ft., as a base line charge

For accuracy of this figure, take the base charge $.86 x total feet (10915) = $9386.90 x 7

months 09 YTD = $65,708.30 (Metered cost) + $4773.80 (non metered costs) =

$70,482.10. Compare to total billed amount of $71,639 (within 1%)

IT APPEARS THAT TRANSIENT ELECTRICAL AND LIVEABOARD FEES EASILY OFFSET AND

ADEQUATELY COVER COMMON AREA ELECTRICAL USAGE?

Proposal: status quo should remain in affect, since the regime has compensated for the

common areas usage. To cover individual slip usage, establish average usage limit, and

reconcile (bill) any usage above that limit, but not allow any refund for under usage. In

effect, this is the contribution from the regime fee for the common area usage.

For example, 35 ft slip x $.86 = $30.10 per month x 12 months = $361.20 per year

electrical limit

This would include all of T dock

Prepared by Brian Swan and Bruce Wallace

ANNUAL MEETING MINUTES Held at Courtyard by Marriott November 16, 2009

The Annual meeting of Members of The Harborage at Ashley Marina HPR was called to order at 6:12 PM by Eddie McCoy, President. All board members were present, and a quorum was established by the Secretary, Brian Swan (Also present was Bevin Carchidi (SEMG) and Bruce Wallace Representing (AMH)

Eddie McCoy introduced the Board Directors and invited guests from SEMG and AMH.

Eddie McCoy asked for a motion to approve the 2008 Annual meeting minutes. The motion was seconded and unanimously passed by the forum

Nick McGinty presented the financial report summarizing the letter sent to members preceding the Annual Meeting. The 2010 budget approved by the Board at its October 29

th meeting was presented to

members. Eddie McCoy added that the regime is now in a good position to fund the reserves.

Eddie McCoy presented the 2010 goals which included the need for a separate dock office (current dock office is not owned by the Regime) and Ron Acierno suggested that BOD look a space in the AMH building or some other long term space.

Brian Swan, Secretary and member of the Operations Committee presented an electric study that he had discussed at the October meeting of the Board.

Several questions were fielded throughout the presentations from the forum, and from emails submitted before the meeting via the Ashley Marina website. All questions were addressed by Eddie McCoy or referred to another Board member or invited Guest for response.

Eddie McCoy solicited floor nominations for election for two directors whose terms were expiring. Peggy Miskotten nominated Lance McLeroy for one of the directorships. Brian Swan, Stuart Reeves and Lance McLeroy were allowed to present their platforms and qualifications before voting ensued. The results of the election will be made public via website when available.

A Motion to adjourn was made, seconded and unanimously passed to adjourn the meeting at 8:32 PM. Respectfully submitted, Brian Swan, Secretary