Minutes of the Trustee Meeting

Queensberry Condominium Trust

April 23,  2012

Pursuant to the Article V.  Section 5.9 of the By-Laws of Queensberry Condominium Trust,  a monthly meeting of the Trustees was held on Monday,  April 23,  2012, at 6:30PM at the offices of Boston Choice Properties, 125 Jersey Street, Boston, MA.

Those Present:  Ning Hernandez, Sheryl Kelly and Jeff Schwarz , Trustees
Pamela Pendias , Modica Associates  

The meeting was called to order at 6:40 PM.   

FINANCIAL REVIEW

An electronic version of the monthly financial report for March had been e-mailed to the trustees along with copies of all paid bills.    The balance sheet at the end of March  reflected $6,369 in the operating account and $45,588 in reserves.    Ning asked if the pest control company sent in an adjustment for the over payment.   Pam stated that all invoices for pest control had been put on hold – the March financial reflected no charges for pest control.  Jeff asked what the monthly charge for pest control should be.   Pam stated that she would check and follow up with an e-mail and/or send Jeff the contract.   Sheryl questioned the charge for snow removal – specifically the charge for ice melt in the amount of $74.25 for an ice storm on March 2nd.    Pam stated that the ice melt charge was for applying  ice melt on the sidewalks.   Sheryl stated that she thought that she had been told that the $225  charge the association paid last year was for ice melt for the entire year.   Pam stated that was true – but for the buckets of ice melt that are left at the entrances to the building for residents to use on the stairs as necessary.    Modica keeps the buckets full of ice melt throughout the winter months at no additional charge to the building.    Ice melt that is applied during snow fall/ ice events is at additional cost as is snow removal.    Sheryl questioned the cost of the electrician’s invoice, $266, for replacing a light fixture and globes.   Pam responded by saying that the electrician needed to visit the building to see match the globes that needed to be replaced, go out and purchase the material and return to the building to install.   Furthermore any vendor that Modica uses is licensed and insured.   

Pam informed the trustees  that at the end of March, 2011, the association incurred costs of $23,741  for oil and gas as compared with this year total costs of $17,113  representing an overall savings of $6,628 as a result of the conversion.     Although it has been a mild winter compared with 2011 it still represents significant savings.   Sheryl asked about the oil payment of $2,909 in March.   A review of the invoices reflected that the payment was for an oil delivery received January 7th, 2012.   The association has a net profit of $6,245 for the first quarter of the fiscal year and is current with all operating bills.   Ning asked about aging receivables  (3) owners are behind in their fees but are making monthly payments.

OLD BUSINESS   

The first item of business was the status of Eagle Rivet.    A big thank you to David  Sherf for successfully negotiating a settlement with Eagle Rivet.    Arthur Dias signed the settlement agreement accepting a check in the amount  of $2,500  as full and final payment for the roofing work.    

Neither Sheryl nor Jeff had any further issues of moisture infiltration in their units.

The door sweep on the front door at 107 Jersey has now been installed

Painting the common areas has yet to be done in building 107.

Minutes of the Trustee Meeting
4-23-12
Page Two

Sheryl asked about the status of the laundry equipment – contract.   The board did not wish to extend the contract and defective machines have been repaired or replaced.

NEW BUSINESS

Pam had prepared the paperwork for the new trustee for recording at the registry.    Since not all board members were present, this will be signed next month.

The wrought iron railing around the perimeter of the property is in dire need of repair.   Pam had obtained an estimate last fall from Logan grate to repair it for $5,500.    Pam obtained (2) proposals from Nino’s Iron works – 1) to repair 200 lineal feet of railings $4,500, 2) for furnishing and installing a new railing $13,100.    Pam obtained a 3rd proposal from Eliot Iron Works.   Their proposal to repair the existing railing was $16,500-$18,000.   Their estimate to replace the railing was $130,000.     The trustees were very interested in Nino’s bid to replace the railing with a new one.   Pam to get the particulars, find out would it would look like – would they replicate the existing fence, etc.

Pam obtained a bid from B & M Restoration & Contracting for digging out the existing concrete in the courtyard, re-grading and pouring a new concrete patio for the sum of $17,900.   There is no inexpensive way to alleviate the ponding water due to the pitch of the existing courtyard.    The job is also labor intensive since there is no access to bring any large machinery out back.    The old concrete would need to be carted out by hand.    Pam has had several contractors look at it and will obtain additional estimates.

The next item on the agenda were the agreements from Comcast.  A Facilities Easement Agreement, Services Agreement and Compensation Agreement.   Comcast would be willing to pay the association the sum of $5,160 within (45) days after receiving executed agreements  in exchange for the association allowing Comcast to keep and maintain their equipment in the building for ten years.   .   Sheryl stated that she recalled David Sherf saying this was a “no-brainer”.  Pam to get the agreements to David Sherf for his review and recommendation.

Sheryl noted a musty odor on the first floor of building 111.    Modica will look into this.    

There being no further business, the meeting adjourned at 7:20PM.  

Respectfully submitted by:
Pamela Pendias
Modica Associates
For the Recording Secretary
Queensberry Condominium Trust