Homeowner Newsletter

6-19-10

Dear Neighbors,

Hello to all homeowners and especially our new people. Cocoanut Bayou is the Association we all commonly belong to. It includes the properties on Little Pond Lane, Cedar Park Circle, Mangrove Place and certain lots on Mangrove Point Road, Higel Avenue and Midnight Pass Road. I believe there are 55 lots in total with 52 owners.

We have our annual membership meeting in March each year, usually at Siesta Key Chapel in the fellowship hall. The notice and agenda will be sent prior to the meeting. There is a contact form as well. There is a proxy section for voting in case you cannot attend. There is a nomination section to nominate people or yourself as a director. Please send a signed proxy statement and nomination if you or someone you know would like to be involved. We are very interested in having new people involved in our association, so please call me if you might like to do it. It is a great way to help us improve our neighborhood and quality of life. Any property owner in CBA may ask to be considered as a director. I believe our rules currently allow for 11 directors. Four positions are automatic. The president of each section of Cocoanut Bayou is automatically a director. The board, once elected at the annual meeting, then meets as needed to handle association business and the board elects its officers.

Please complete and fax, email or mail back your current contact information so we can efficiently contact you regarding association business. This information will not be shared. I would like to eventually be able to put all association business matters on our website at www.cocoanutbayou.com , as well as forms needed when buying or selling property. If you cannot attend the meeting, then please complete your proxy section and return to me or the CBA secretary, Patrick Delmastro. Please feel free to mention any issues or thoughts on current or potential new business.

The association bylaws include restrictions on property improvements. Any new construction or remodeling projects must meet both county and CBA setbacks and restrictions. All plans for any construction projects must be approved by the CBA board of directors prior to proceeding.

We are all required to pay annual dues that are determined at the annual meeting. Our 2010 budget includes the dues of $200 annually from each owner and expenses that cover insurance, maintenance, and low cost improvements. The annual dues are significantly less that those of most similar neighborhood associations on Siesta Key. Some of the individual roads also have associations and separate dues.

This year there were a few things to report, which I have tried to summarize below:

• Some beach lot improvements are currently in the approval process. Enclosed is a vote form regarding a chickee or tiki hut.
• A simplified plans approval process will be discussed.
• The board will consider simplifying the Association bylaws which were first written in the 1950’s and need to be updated.
• A simplified process for new owner and property transfers will be discussed.
• It should be noted that all dues must be paid in order to use the common properties.
• No property can be transferred to a new owner without all past and current dues (and applicable late fees) being brought current.
• Each road must be maintained by the owners whose property is situated on that road. There are separate associations that oversee this process and other projects and maintenance that are desired. That is why there is an association for Little Pond Lane, Cedar Park Circle and Mangrove Point.

My continued goal as president is to improve the communication within the association so we can better meet the needs and desires of the owners.

I hope to see all owners at the annual meeting, but if you are unable to attend, then please provide a proxy so your vote can be counted.

Sincerely,

Michael Swor

President, Cocoanut Bayou Association

265 Cedar Park Circle

302-3604