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MINUTES OF THE BOARD OF DIRECTORS
November 20, 2003
President Dwight Clark called the meeting to order at 7:05 P.M.
Present were Board members Joseph Morris, Derek Drummie, and
Elizabeth VanderPutten; property manager Walter Krolman; and for a portion of the
meeting unit 1007 owner Wayne Rhee.
TREASURER'S REPORT
Net cash available at the end of October was $527,729.78
For year to date operations, through the end of October:
- total income was $702,382;
- total operating expenses were $578,526, which is over budget by $16,681;
- capital expenditures were $226,279.
Certificates of deposit activity during October was as follows:
- 3 month CD- New South Federal Savings Bank. Renewed 10/20/03. Renewal balance was $46,060.58. Interest rate is 1.29% and yield is 1.30%
ACTION ITEMS
Storage in the Garage
Mr. Rhee requested permission to install storage boxes in his parking area. The Board reviewed the rules and regulations. It is clear that the rules do not allow untagged cars or trucks and RVs. Only one car or other four wheel vehicle is allowed. The intent of the policy is to ensure that the area is neat and safe. However, the policy is not clear about storage in non-flammable containers that are neatly stacked. The Board asked
- the Manager to check with the Fire Marshall about safety rules and
- Mr. Rhee to develop a general policy for Board consideration regarding the use of some portion of parking spaces for personal storage.
COMCAST request for upgrading
COMCAST requested permission to upgrade their cable system in the building. The Board approved the request conditioned on the approval of the Board's attorney.
HVAC Discussion of Heating and Adjustment Capabilities
The Board reiterated that it wanted the water temperature and cycles be set at the lowest possible level to test the optimal setting for heat and noise. The Board asked that the water temperature be set at 140 degrees and the cycles set at the lowest consistent with the operation of the system.
The Board also directed the manager to make sure that G&L does whatever is possible to ensure that the heat in the hallways is lowered to as near 70 degrees as possible.
In view of continuing concerns with the functioning of the HVAC system, the Board authorized getting a proposal from a HVAC consultant to 1) review the entire HVAC system with particular reference to its ability to provide quiet, efficient heating and cooling; 2) inspect in-unit systems for condition and future life; 3) evaluating some of the recommendations by G&L for upgrades to the system in terms of size and compatibility of components.
COMMITTEE REPORTS
Fence Committee
The Fence Committee reported that they had they have requested bids from three companies. The bids are for a fence around the back parking lot and for a low fence to protect some of the plants on 20th street.
NEW BUSINESS
Front Desk Staffing
The Board asked the manager to ensure that desk coverage, particularly at night, is consistent.
Lobby Appearance
The Board discussed the tensions involved in allowing flyers to be placed at the front desk. The Board reiterated its policy that mail bins are to be kept in the office. Personal flyers and advertisements for units should not be posted in the lobby.
All exceptions need to be approved by the Board.
NEXT MEETING
The next meeting, at which the 2004 budget will be adopted, is scheduled for Thursday, December 4 at 7 pm.
ADJOURNMENT
The meeting adjourned at
RESPECTFULLY
SUBMITTED
Elizabeth A. VanderPutten, Secretary
TO SUBSCRIBE
To receive e-mail copies Board Minutes, send a request to Property Manager Walter Krolman at manager@lauren.org