SUNCOAST REVIEW
CORPORATE TRANSPARENCY ACT
Important update regarding Community Associations Institute v. U.S. Department of Treasury.
LET'S TALK CONSTRUCTION BONDS
Protect yourself, ask for a construction bond.
A letter from the Suncoast Chapter President
As 2024 comes to a close, as well as my term as president of the Chapter, I would like to take a moment to say a few thank you " s First and foremost, to the chapter membership as a whole. It has been a transformative year for the chapter, and the growth and change we have experienced as a chapter is not possible without all of the membership’s support To all of the volunteers, there were many times this year where we were charting new territory, and without the help of all of our amazing volunteers, we could not have pulled off the year that we did. To the 2024 Board of Directors, through the ups and downs and hurricanes and scheduling you have all been so wonderful to work with, and I cannot thank you for your service and commitment to the chapter both now and as we move forward
To our new executive director Maria Medina Maria came into what could best be described as the “unknown” and has helped us through this year to get back on track financially and administratively The monumental task of organizing the database and financials alone would be biting off more than one could chew, but not only did she do that, but she helped grow our membership To the committee members, you have helped bring in new members, make plans to retain members, and came up with new ideas for events that I hope we can implement in the coming months and years Thank you
As I hand the reins to President-Elect Jaime Ballard, I want to say what an honor and privilege it has been to again serve as Chapter president. Working with this Chapter is always a wonderful experience, and to get to do so in a time of immense new possibility for the Chapter has been even more exciting. I look forward to continuing to be an active member of the Chapter
Happy holidays to everyone, and I look forward to seeing you all in 2025!
Sincerely,
Stephan C. Nikoloff, Esq.
On Dec. 3, the U.S. District Court for the Eastern District of Texas published a decision in the matter of Texas Top Cop Shop, Inc , et al v Garland, et al issuing a preliminary nationwide injunction against the Corporate Transparency Act (Act)
The court granted Plaintiff’s request for a preliminary injunction, blocking the U S Department of Treasury from enforcing the act’s beneficial ownership information reporting requirements
In his opinion, Judge Amos L. Mazzant III grants the Plaintiff’s request to preliminary enjoin the Government from enforcing the Corporate Transparency Act and its Implementing Regulations, ruling that “Neither may be enforced and reporting companies need not comply with the CTA’s January 1, 2025, BOI reporting deadline pending further order of the Court.”
This preliminary injunction applies nationwide, halting enforcement and compliance of the Act’s beneficial ownership reporting requirements across the entire United States CAI’s legal team believes the injunction applies to all community associations incorporated within the U.S.
CAI will continue its unwavering commitment to protecting the community association housing model and our members’ interests. We firmly believe the act’s requirements place an excessive burden on community associations, which operate differently from traditional corporations and small businesses We will continue to pursue a full repeal of the act or exemption to protect the community association housing model as well as the privacy and personal information of its volunteer leaders This is good news today, but it isn’t the end of the story Please continue to watch for messaging about any further developments by visiting www caionline org/CTA
Plaintiffs in the Texas Top Cop Shop case made similar arguments to those made in CAI’s federal lawsuit against the U S Department of Treasury, Secretary Janet Yellen, and the director of the Financial Crimes Enforcement Network. The plaintiffs argued the act was an overreach of Congress’s authority over the states, improperly compelling speech and contradicting the right of association guaranteed by the First Amendment and violating the Fourth Amendment by forcing the disclosure of private information Judge Mazzant’s opinion cites arguments and rulings from CAI’s pending federal case in the U S District Court for the Eastern District of Virginia to substantiate his ruling.
For community association board members who have taken advice from industry professionals and already complied with the act’s reporting requirements, you have taken the responsible route. We recognize the situation is complex especially because we are so close to the reporting deadline. We continue to believe that exempting community associations from the act is in the best interests of CAI member communities.
The full opinion can be found here For more information on CAI’s pending lawsuit, advocacy efforts, and the act’s impact on community associations, visit www caionline org/CTA
Thank you for your continued support as we work to protect the interests of our members and communities nationwide.
Sincerely,
Thomas M. Skiba, CAE Chief Executive Officer Community Associations Institute
Having Trouble finding board certification or other training, the DBPR is one place to start. Please visit: https://condos.myfloridalicense.com/education
Let's Talk Construction Bonds
By: Jackie Swisher –Director of Business Development FL and Lauren Dillon – Director of Defect Investigations –EmpireWorks Reconstruction
The types of construction bonds, why you need them, and those Three “C”s of Contractor Qualities
Most of us hear the term “construction bond” and wonder what it is. We may know what a bond is and what construction is, so intuitively we may be able to piece a general idea of what those mean together. Maybe not though. We have no doubt that there are a few smarty pants folks reading this and don’t need this article at all. For the rest of us, including us at one point, we had to ask, “What exactly is a construction bond?”.
Was that a lot of words? Here is an example:
Owner/Investor = You
Builder = ABC Construction Company
Third Party Bonding Service = The guy who pays YOU if the BUILDER messes up.
Take a moment and think about what that can mean for you as the owner, investor and more importantly a board member who has a fiduciary duty, meaning the legal responsibility to act in the best interest of another party, in this case the association A bond gives you the confidence that the contractor you choose will complete the project and if not, you will be covered That is the definition of fiduciary duty
Our goal with this sweet read is to help you understand what a construction bond is, what types of bonds there are, and why it is important to have them for all large projects which your association completes. Then, you too can be the smarty pants in the room
So, what is it? A construction bond is a guaranteed agreement between an owner or investor, a builder, and a third-party bonding service which protects against disruptions or financial loss due to a contractor's failure to complete a project or meet contract specifications.
Let’s talk about the three main types of construction bonds: bid bonds, performance bonds, and payment bonds. Bid bonds provide a guarantee to the project owner that the bidder will complete the work if selected Performance bonds replace the bid bond when a contractor's bid has been accepted and they start to work on the project This protects the owner from financial loss if the contractor's work is subpar, defective, or incomplete. Payment bonds guarantee payment of all subcontractors and material suppliers, protecting the owner from future liens against the property.
That is a lot of bonds, do I need all three?
Obtaining these three bonds at the start of a project eliminates your need to vet the contractors, protects your association from liens and lawsuits, and assures your projects gets off on the right foot.
Let’s reiterate why it is in the best interest of the association for the board to require a construction bond
Financial Loss Protection - If a contractor fails to abide by any of the conditions of the contract, the bonding company and contractor are both held liable. If a contractor files bankruptcy, the bonding agency is held responsible for compensating the project owner for any financial loss
Prospective Contractor Vetting – The surety insurance agency will research the three Cs of Contractors qualities: the contractor's character, capital (financial stability), and capacity (skills and ability) to complete the project What a relief it is to know someone else has done the deep digging, relieving us of legal responsibility and extra stress
Contract Fulfillment Assurance - A construction bond serves as a financial guarantee that the contractor will complete the job
Did you have an aha moment like us? Wow, this makes total sense. We protect ourselves, the association, and the homeowner, and we satisfy our fiduciary duty.
Some contractors will try and talk you out of bonding a project You have their word nothing will go wrong; why not believe them? But why would the contractor try to talk you out of this? When the cost of bonding becomes part of the contractor’s bid and therefore costs them no additional funds, perhaps the only reason why a contractor would insist on not obtaining a bond is because they don’t qualify for one..
Do you want to take a chance with money that isn’t yours? As a board you have a big responsibility to make good decisions and it is a heavy weight to carry if things go wrong.
Protect yourself, ask for a construction bond.
Stormwater Pond Management: Aren't Nutrients in the Water Good?
Solitude Lake Management
Nutrients are a cornerstone of healthy freshwater ecosystems, playing a vital role in fostering fish, micro-organisms, and native plants. However, perhaps due to the word’s positive connotation, property managers are often surprised to learn that abundant nutrients aren’t always good Just as ingesting too many vitamins can make you sick, an excess of nutrients can cause harmful water quality imbalances. Like many things in life, moderation is key.
Over time, lakes and ponds become increasingly enriched with nutrients like phosphorus and nitrogen that create fertile conditions for excessive vegetation and algae growth. When it eventually dies and decays, it releases nutrients that fuel new growth. Without intervention, the cycle will perpetually continue until the waterbody fills in with decayed material This process is called eutrophication or, put simply, aging
While nutrient enrichment is normal and may occur naturally over hundreds of years, human activities accelerate the aging process and can reduce a pond’s lifespan to just a few decades Once a pond is filled in, it can only be restored by dredging out all accumulated materials. Dredging is one of the biggest expenses a community will ever face, but by understanding why nutrient enrichment occurs and how to help slow the process, communities can prolong the need for costly dredging for as long as possible.
During storms, rainwater picks up nutrient-rich materials and substances as it flows over sidewalks, roadways, agricultural land, construction sites, and other developed areas The water is diverted to stormwater ponds that are specially designed to prevent flooding and filter out pollutants before the water is released downstream Most urban ponds, particularly in homeowners communities, are manmade for this purpose
Some of these nutrient-rich materials include:
Lawn and garden fertilizers
Grass clippings
Leaves and yard debris
Eroded sediment
Pet waste
Septic system runoff
Trash
Unsightly weeds, slimy mats of algae, and toxic blue-green algae (cyanobacteria) are common signs that your waterbody is over-enriched with nutrients If water quality tests reveal that nutrients are above desirable thresholds, communities have several solutions at their disposal to help manage them
First and foremost, property managers can implement impactful changes such as installing more trash bins and pet waste stations around a community, moving designated dog parks further from the vicinity of their ponds, and instructing landscapers to reduce fertilizer use and properly bag grass clippings and lawn debris. Every individual living or working in the vicinity of a waterbody influences its health and these small changes can have a significant cumulative effect over time
Incorporating these best practices can help amplify the benefits of more impactful solutions:
Nutrient Remediation
This involves applying eco-friendly products that bind with or “deactivate” excess phosphorus in the water column and in the bottom sediments so it is no longer available for uptake by weeds and algae Subsequent water quality testing will allow experts to assess if nutrient levels have been restored to an ideal range
Biological Bacteria
Biological bacteria play a central role in decomposing plant debris and organic materials Comparable to probiotics for your waterbody, supplementing these beneficial bacteria can help make the decomposition process more efficient and inhibit the accumulation of nutrient-rich muck. These bacteria need dissolved oxygen to thrive, so installing a fountain, surface aerator, or submersed aerator can enhance their activity
Mechanical Hydro-Raking
In cases of significant muck and debris build-up, experts can use a floating barge equipped with a specialized clamshell bucket to physically remove hundreds to thousands of pounds of nutrient-rich material. This can also help restore several feet of depth back to the pond, limiting flood risks.
These strategies are highly effective at targeting excess phosphorus in the waterbody, but it’s also imperative to prevent additional nutrients from invading the ecosystem. Such efforts start outside of the water and can involve residents, landscapers, and other employees.
Buffer Management
While many communities desire an unobstructed view around their ponds, it’s favorable to maintain a healthy buffer of beneficial vegetation around the perimeter These plants act as a protective barrier, filtering rainwater and capturing nutrients and debris before they enter the pond A well-curated buffer should incorporate native plants that densely extend 3-5 feet from the shoreline and receive regular trimming and maintenance.
Shoreline Restoration
Pond erosion is not just an eyesore and safety hazard, it allows sediment to build-up in shallow areas around the shoreline. Tree roots, pipes, and other buried equipment can become exposed as sediment deteriorates. Experts can employ bioengineering techniques that physically reshape and anchor the shoreline in place, preventing future collapse and erosion Sod or vegetative buffers can be installed directly on top to blend in harmoniously with community landscaping
Nutrients play a major role in the health and appearance of community water bodies, but they are only part of the equation. Maintaining balanced levels of pH, dissolved oxygen, alkalinity, and salinity is essential for clean, weed- and algae-free water. An ongoing management program tailored to your community’s specific goals and budget is one of the most effective ways to ensure your waterbody remains healthy, beautiful, and functional for years to come
4 Steps to Staying Safe Like a Pro
As a single woman in her mid-twenties, I’m passionate about home security. Really, security in general. I may have an internal radar scanning my surroundings constantly, but I’m not living in fear because I know I’m doing everything I can to stay safe. You don’t need to be a single woman in your midtwenties to reassess how you think about your safety.
Let's start by examining home safety Some of you might own a home on five acres with only a shotgun and dog warning signs. Others may live in communities with HOAs that have security gates and measures to keep residents safe Or, like me, you may live in an apartment complex where random people can access the gate at all hours Regardless of your situation, anyone can find themselves in the wrong place at the wrong time. This isn’t meant to be a boring PSA but a friendly reminder that we can always improve our safety. Here are some handy tips to bolster your efforts:
Stay Connected on Social Media: As a Gen-Z author, I thought it fitting to start with one of the most inexpensive and easy items on the list. Get breaking news and security alerts 4 Steps to Staying Safe Like a Pro 2 by following your local police department on X (formerly Twitter) My local police department is great at tweeting updates on everything from road closures to alerts about escaped criminals (thankfully, that’s only happened once!) Start following these accounts if you aren’t already
Take a Second Look at Home Security Systems: If you don’t have a system, or your current system is over four years old, take a serious look at the new technology available on the market.
Security systems are cheaper than ever before, and sometimes our favorite stores (I’m looking at you COSCO) run great deals on home security systems that are easy to install and connect to your WiFi. In most states, police require visual confirmation to respond to threats, making it crucial to choose some with integrated cameras. Many newer models come with battery backups that can keep you powered for days and allow you to run on 4G or 5G for a cellular connection if WiFi fails. For just a few hundred dollars, upgrading your security system is a nobrainer!
So, there you have it! Staying safe isn’t just about locking your doors and hoping for the best.
Communication and technology are powerful tools, so my recommendation is to reach out to your community manager or HOA today and ask about the systems in place about safety and security events.
Stay smart and stay safe out there!
Miranda Tuttle VOLO LLC
mtuttle@voloalerts.com 209-283-5043
Enable Push Notifications on Your Mobile: This is easy to do but often forgotten. Those X accounts? The alarm system you just bought from COSCO that has an app? Make sure to turn on notifications to get the timely messages through SMS to your phone Then, make sure you are getting notifications in the style you want by going into your phone settings and finding the notification section and adjusting accordingly.
Consider Taking Self-Defense Classes: If we don’t feel confident about how we can handle an emergency situation, newsflash: we probably won’t handle it well. Confidence is key. Attend the next upcoming self-defense and safety seminar in your community It’s easy nowadays to find out when, where and how much these types of classes cost through a quick Google search Don’t count on adrenaline to magically give you the strength to lift a car. Being Superwoman sounds awesome until your chiropractor sends you the bill. Join a self-defense class, or start using that gym membership you are already paying for!
BIG is Little and Little is BIG
A phrase I often share with leaders is:
Candidly, this phrase is just a reminder of what the best leaders already know
Here’s what I mean
The best leaders are not successful because of their position, prestige, or power
Additionally, they are not successful because they always take BIG steps or make BOLD changes.
Instead, the best leaders realize that the BIG successes they experience are the result of getting the LITTLE things right day in and day out. They realize it’s
• Serving with excellence
• Being consistent
• Improving just a little bit every single day
So here’s a reminder of what you already know: BIG is Little and Little is BIG.
In the meantime, if you have a burning question or rumor you have heard that needs an answer Get started with your discussion athttps://exchange.caionline.org/home (you must be signed in). Then, click Communities in the top toolbar, choose My Communities, and click on Florida Chapters Community Let’s start a conversation together
Disclaimer – The views and ideas discussed are not those of CAI, only my observations from various discussions, articles, and experience. Nothing is intended to favor any political party or to promote anyone. Lastly, most of this is about Chapter 718 condominiums.
THANK YOU
2024 SUNCOAST SPONSORS
2024 DIAMOND CHAPTER SPONSORS
BASHOR & LEGENDRE, LLP, CPA's
BLUE STREAM FIBER
GORDIAN STAFFING
McGRIFF INSURANCE SERVICES
MUNYAN PAINTING & RESTORATION
RESOURCE PROPERTY MANAGEMENT
USI INSURANCE SERVICES
2024 PLATINUM CHAPTER SPONSORS
ALLIANCE ASSOCIATION BANK
BLACKROCK ASPHAULT COMPANY
BURG SIMPSON ELDREDGE HERSH JARDINE, PC
CADENCE BANK - ASSOCIATION SERVICES
CONDOMINIUM ASSOCIATES
FIRST PRIORITY RESTORATION
GREENBERG NIKOLOFF, PA
KARINS ENGINEERING GROUP, INC.
MANAGEMENT AND ASSOCIATES
PINNACLE FINANCIAL PARTNERS
P&R PROCOATINGS, INC.
RABIN PARKER GURLEY, P.A.
VALLEY BANK/INSURANCE SERVICES
YARD-NIQUE
2024 GOLD CHAPTER SPONSORS
ACENTRIA INSURANCE
ACPLM, INC.
BECKER AND POLIAKOFF
BILLER REINHART ENGINEERING GROUP, INC
MARSH MCLENNAN AGENCY
ISLAND PAINTING & WATERPROOFING
MITCHELL INSURANCE SERVICES
PCS INSURANCE GROUP
POPULAR ASSOCIATION BANKING
REALMANAGE
ROSE PAVING
RUSSELL LANDSCAPE
SAFER HOME SERVICES
SHERWIN-WILLIAMS
UNITED FIRE PROTECTION
