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Initial Capital fees from new construction closings continue to come in way above expectations - $23,643 YTD vs $5,000 budgeted for entire year. The best we could get when renewing the reserves CD was at CIT 0.45% - $100,828. The Board approved $2,500 legal retainer went out - COA Admin Contingency 8340 - to land use lawyer regarding issue of public pier reverting to private use. Envirotech installation of gabian wall erosion control on either side of the pier should begin around Aug 9th. The balance due will be payable out of reserve funds. Jamie Kinsel GG HOA Board Treasurer 
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