February 24 - Annual Meeting Of Unit Owners

Financial Review (at close of January 2009)

Operating : $ 444.94

Reserve: $56,077.90

A/P: $62,274.79 ($50K payable to Chicarelli & Pires and $12,274.79 to the Reserve Account)

- details will go out to the owners after the board reviews





2008 Year End Figures

- owners (Paul) request a revised/decipherable YTD Actual/YTD Budget that reflects 12 month totals (collected/spent/etc), not the 18 month project (How much expected to come in? How much actually came in, etc?)


Other questions on the financial statement:

- Transfer to Reserve-Assessment line --> confusing
- From Reserve
- Other Income

- Suggestion to separate out regular budget from the temp. fee increase and masonry costs



2009 Budget

- March is the last month of the temporary fee increase
- The condo fees go back to their original levels--no fee increase for 2009

- Q: Who pays for the water used by the laundry machines
A: The association does.

- Q: What kind of warranty (# of years) does Chicarelli provide on their work?
A: The information is in the spec--what kind of mortar was supposed to be used, etc.


- Bank Charges should be $0, because we switched banks
- Insurance was locked in for 3 years

- Q: When were the boilers replaced? Teddy thinks about 10 years ago. Doug thinks that information is noted on the boiler.

- Q: What is the breakup between water and sewer
A: Sewer is about twice as much as the water

- Q: What is the purpose of having a higher reserve
A: Emergency funds, guidelines for associations

- Q: What is the projected reserve total for the end of the project/temp. fee increase (end of March)? What is the projected reserve total for the end of 2009? What was the reserve prior to the temp. fee increase?



Masonry Project Review

- Engineer did a walk through, the board just received the report
- The report will go out to the owners with the minutes from this meeting
- From all the work that was done, we only had one add-on for $3600 (fire escapes)



Old Business

Window Grids on Garden Level Bedroom Windows have been fabricated and are ready for installation, weather permitting. Access to units will be required to ensure safety lock operates correctly. Cost is $3,150.00 installed.



New Business

- Heat
-- What happened with the heat in December?
-- Strange, that only one person complained

- 107 Laundry room floor
-- We are aware of the problem with the floor, and the laundry company is working with us to redo the floor
-- Q: Are dryer connections up to code?
-- The laundry company services the machines, but the management/association has to clean the dryer vents

- Drain in the courtyard in the wrong place, and the courtyard tends to flood

- Max noticed the 107 smell (107-11)

-- 107-7 owner also noticed the smell

- Max noticed an infestation of mice in his unit (107-11). He set out some traps, and the mice have gone away. If the problem reoccurs, Max will notify Modica for the unit to be treated.

- Need to add the TO DO list to the blog



Election of Trustees

Board Members Douglas McClennen, Helen Chigirinskaya, Bill Gentz, Kristen Lipstreuer and Dave Sherf have all volunteered to serve another one-year term. Modica did not receive any trustee nominations.

- Teddy volunteers to be a trustee