Fairway Townhouses Owners Association (FTOA) Board of Directors
The FTOA Board of Directors is responsible for managing the exterior maintenance of the four condominium buildings and all Common Elements These responsibilities include:
- Follow its by-laws and stay current with applicable Maine laws and regulations
- Hold Annual General Meetings to approve Operating and Capital Budgets, elect Board Members, and maintain communication with Unit Owners and Timeshare Owners
- Prepare and monitor capital requirements to ensure the reserves are sufficient to meet future needs. Capital requirements include all aspects of exterior building maintenance including roofing, painting, lighting, gutters, structural repairs, landscaping, walkways, pavement, snow plowing and shoveling.
- Prepare, and monitor annual operating costs, and if needed, obtain legal advice.
- Hire professional property managers to carry out daily operations.
The Board has seven directors, representing Unit Owners and Timeshare Owners who are elected to staggered three-year terms at each year’s Annual General Meeting. All board positions are volunteer. The Board’s fiscal year is April 1 to March 30. Officers of the Board are elected by the board at a meeting immediately following the Annual General Meeting.