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 1^st, 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