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Mr. Roger
Hirschland |
December 5, 2009
Dear Fellow Lauren Owners:
It's that time of year—for a note from the board regarding our condo budget for 2010. The budget defines our condo fees, which will increase next year by 4.62 percent. See the chart mailed to owners to ascertain the fees for your unit or units. The increase largely reflects the rising costs of salaries and utilities, balanced by the brand-new and much more efficient boiler and hot-water heaters installed late last summer on our roof level. The budget is enclosed for your review. Please note the addenda, which show the history of our capital reserves and increases in condo fees.
Most of you know, from living in the midst of it, that we're coming to the end of a major redecoration of the hallways and front lobby. The hallways have a new look—including molding on the doors; new lamps, which were lowered and increased in number; and new wall and floor coverings. We will also be redecorating the elevator cabs. Consensus among residents is highly positive about the fresh, elegant appearance of the building. We recognize and support the need to keep our home investment a shining example of quality in the Dupont Circle neighborhood.
As you may recall, we are facing the eventual replacement of the heating and air-conditioning system throughout the building, including the mechanisms in the walls of each unit. For that massive job—and expense—we have been setting aside a dedicated capital reserve fund, which is designed to be large enough in several years to cover the roughly $2 million cost. Setting aside those funds over time should prevent the need for a special assessment in the future. Ensuring that the fund is sufficient is part of the reason for the increase in our condo fees.
You will shortly receive new payment coupons from Simmons Management Group. For those of you who send your fees by check, please make sure that the appropriate coupon accompanies your check, so that your payment will be properly credited to your account.
Your board, currently made up of Elizabeth VanderPutten, Dwight Clark, John Filice, Barrett Witkin, and me, meets monthly. We cover lots of ground in these meetings, and although some of the matters are routine, the meetings tend to be interesting and relevant to our communal wellbeing. We welcome your attendance at the board meetings, as well as suggestions or comments at any time to make our home an even better place to live.
Cordially,
Roger
B. Hirschland
President, Board of Directors