The Lauren Condominium Association

Minutes of the Board of Directors - March 1, 2000

President Elizabeth VanderPutten called the meeting to order at 7:00 in the Manager's Office. Present were other Board members Joe Morris, Mason Essif, Eileen Collins and Waldemar Wajszczuk. Also in attendance was Property Manager Walter Krolman.

Treasurer's Report

As of January 31, 2000 the Lauren had $615,708 on hand. In January, we had income of $51,006 compared with expenses of $42,726 for a monthly surplus of $8,279.

Operating income was over budget by $403, while operating expenses were under budget by $3821.

In January no capital expenditures were made.

Continuing the Lauren's laddering investment plan, three CDs were opened on January 14, 2000 and another the following day for different periods at rates varying from 5.99 percent to 6.35 percent. Also on January 15, 2000 the funds from an $80,000 CD were deposited in a money market account until a replacement CD could be established. The original bank has stopped issuing institutional CD.

Action Items

Water Booster Pump

The Board asked building engineer Wayne Hall to submit a proposal for adding a booster pump to the building's water system to eliminate any variations in CITY water pressure coming from the city water system .

Annual Meeting Date

The Board selected May 17th for the Annual Meeting..

Insurance Claim

The Board discussed a repair claim for units 111, 211 and 311 for water damage caused by a leak. The Board disagrees with the assessment of the insurance company's claim adjuster about a specific exclusion the company is using in its assessment. The Board asked the Property Manager to work with our insurance broker to dispute the specific exclusion. The owner of unit 111 is concerned that the insurance company's assessment for the damage is not sufficient to cover repairs. The owner is seeking an estimat e independent of the insurance company, which he will submit to the Board.

The Board also discussed whether the current policy which has a $1000 deductible is appropriate. The Board asked Walter to price insurance policies with a higher deductible.

Laundry Room Renovation

After further investigation into gas dryers it appears this option is cost prohibitive. While gas dryers would speed drying of clothing and produce operating savings of approximately $1000 a year, the renovations and changes to the laundry room to accommodate the gas dryers would cost in excess of $20,000. This makes the payback period financially unreasonable. The Board also discussed three options for improving the venting system in the laundry room and favors the option that uses the current venting t hough building walls rather than having new holes drilled into the wall. The Board approved the purchase of 10 electric washers and 12 electric dryers that will accept both coins and cards as payment to replace the existing equipment. As part of the laundry room upgrade new floor covering will be installed and the room will be repainted and made cable-ready.

StarPower Construction Plans

The Board has given approval for StarPower to begin installation of the "backbone" in the building. Board Member Eileen Collins asked that additional information about StarPower services be provided to the Board and owners. The Board asked Property Manager Walter Krolman to arrange for StarPower marketing and construction representatives to make another presentation to unit owners and residents in the near future.

Review Items

Noise Abatement

Thanks to the efforts of the Noise Abatement Committee, the DC Government has placed "no idling" signs around The Lauren and near the Embassy Square Hotel in an effort to end bus idling which causes noise and air pollution.

Roof Repairs

While minor roof repair work was being completed, the contractor found that some roofing materials in the cooling tower area were failing. The Association received a recommendation from Seal Engineering that the roof in that area be replaced to prevent water damage to the building. The Board approved an additional $8,212 for the replacement.

Lobby Renovation

The Board discussed the acquisition of plants for the lobby area and agreed to purchase the plants recommended by Foliage Plant Displays, Inc. The Board also selected a coffee and end table as additions to the lobby seating area.

Snow Removal Policy

In the past the Association has not had a policy on snow removal of the back parking lot. In light of complaints brought about by this winter's storms, the Board has decided to consider creating a policy. The Board asked the Property Manager to look into practical options for snow removal in the future.

Elevators

The Board discussed a proposal to install infrared "safety edges" on the elevator doors to augment the mechanical mechanism that prevents the doors from closing on someone. In the interest of improving safety in the building for owners and residents the Board approved the installation of the system at a cost of $3,700.

New Business

Annual Building Inspection

The Board completed its annual walk-through of the building and found it in good condition.

Pest Control

The Board asked Building Manager Walter Krolman to work with the Association's pest control contractor and building staff on additional rodent control measures outside the building.

Next Meeting

Next meeting: Tuesday, April 18, 2000 at 7:00 PM.

Adjournment

The meeting was adjourned at 9:20 PM. An Executive Session followed.

Respectfully Submitted

Waldemar Wajszczuk, Secretary

Subscribe

To receive a copy of this and future Minutes via e-mail, send a request to Property Manager Walter Krolman at info@lauren.org.