Minutes
of the Trustee Meeting
Queensberry
Condominium Trust
August
27, 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, August 27, 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
Michael Grappo and David Sherf were not Present
Pamela Pendias , Modica Associates
The meeting was called to order at 6:35 PM.
FINANCIAL
REVIEW
The July financial report
was sent out electronically in advance of the meeting. Due to the timing of the meeting, Pam
provided preliminary financial reports for the month of August. The balance sheet at the end of July reflected
$21,084 in the operating account and
$43,101 in reserves. Sheryl inquired as
to the insurance expense for the month.
The reason for the additional expense was the annual premium for
Directors’ and Officers’ Insurance of $990 that was paid. Ning
asked about the Verizon charge for the month that appeared to be twice the
usual cost. Pam said she would call
Verizon and report back to the board.
There were no other questions and the report was accepted as
presented.
OLD
BUSINESS
Jeff had nothing new to
report regarding moisture in his unit.
Although we have had rain, there appears to be no additional damage or
dampness.
Touch up paint building
107 and wall/carpentry repairs in basement of 107. The trustees opted to defer this until
September after the moving season is over.
NEW BUSINESS
The trustees
had approved moving forward with the courtyard and drainage work. The contractor will start after the moves
are completed in early September. The
cost will be $15,100.
The
trustees are also entertaining replacing the wrought iron railing along the
perimeter of the buildings. Michael and
Pam had met with Nino and approved the design and addition of a gate. The revised cost for the new railing will be
$15,100.
There
had been some discussion as to assessing unit owners to help defray the cost of
both projects that will cost $30,200 so as not to deplete $43,101 in
reserves. Michael had suggested during
a prior meeting assessing one month of double condo fees to defray the cost
that would generate an additional $13,553 in revenues. A vote was taken and it was unanimously
RESOLVED: to levy one month of double
condo fees to be due October 1st, 2012. Pam to draft a memo for the board to review
and approve explaining the decision to unit owners.
Minutes of the Trustee
Meeting
8-27-12
Page Two
The
owner of 111-20A will be invited to attend the next board meeting that had been
changed this month due to last minute scheduling changes in order to ensure the
presence of a quorum of at least three trustees in attendance.
MISCELLANEOUS
OTHER BUSINESS
Pam informed the trustees
that water consumption was up significantly in building 107 – most likely due
to a running toilet. Modica distributed
a memo to the building informing residents of this. Only
one resident reported a problem and Modica’s plumber completed the repair on
Monday. Pam to monitor and if usage
still remains high Modica will have to schedule their plumber to check all
units to determine the source.
Pam further told the
trustees that RCN had been in contact about bringing service into the
building. They have yet to dig up the
street. Pam was to have met them today
but they postponed until Tuesday.
Service to the building will be available to residents this fall.
There being no further business, the meeting
adjourned at 7:10PM.
Respectfully submitted by:
Pamela Pendias
Modica Associates
For the Recording Secretary
Queensberry Condominium Trust
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