Michael Giumarelli was the Treasurer of the Towngate Master Association while the previous board negotiated the new Comcast contract, which required a 57% increase of our assessment fees (and will require further fee hikes during the 12 year term due to its guaranteed 4% annual increase).
Before the Comcast contract was signed, Michael resigned on May 22, 2019 and was hired by FirstService Residential and soon promoted to Regional Director.
After Michael’s resignation, the previous board appointed Peggy Hubbard as a board member on June 18th, 2019 at 7:16 pm. Four minutes later, the June board meeting started and Peggy Hubbard joined the other four board members in approving the $30 Million Comcast contract. When did she do her due diligence?
The bidding process was severely flawed. Incorrect and misleading information was given to the board and the bidders. The bid was structured to exclude Comcast’s biggest competitor. This was definitely not a competitive bidding as required by Florida HOA Statutes for contracts exceeding 10% of the annual budget.
FirstService Residential is a strategy partner of Comcast, but this relationship was not disclosed as required by Florida law. FirstService has declined to explain to the board its involvement with Comcast and whether First Service received benefits for actively promoting Comcast at Towngate.
FSR partners with Comcast