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MINUTES OF THE BOARD OF DIRECTORS
June 10, 2004
The meeting was called the meeting to order at 7:30 P.M.
Present were Board members Derek Drummie, Elizabeth VanderPutten, Joseph Morris, Rebecca Kane and Dwight Clark; property manager Walter Krolman; and for a portion of the
meeting unit owners Roman and Carolina Bas, (510 and 807), David Tuomey (113), and Brian Larkin (1004)
The Board Announced Its Officers
- Derek Drummie, President
- Rebecca Kane, First Vice President
- Dwight Clark, Second Vice President
- Joseph Morris, Treasurer
- Elizabeth VanderPutten, Secretary
TREASURER'S REPORT
Net cash available at the end of April was $694,823.49;
For year to date operations, through the end of April:
- total income was $279,622 which is under budget by $8,526;
- total operating expenses were $234,514, which is under budget by $4,636;
- capital expenditures were $3,000.
Certificates of deposit activity during
- New South Federal- 92 day CD renewed on 4/41/04. Balance at renewal was $46,378.06. New rate/yield are 1/34/1.35% respectively. New maturity date is 7/22/04.
Notes
- For April, the year to date income was below budget. Most of this was explained by non-payment of rent on 212 which has since been received. The other explanation is interest income is recorded by the bank on a periodic basic.
- Status of Audit. The Auditor is still awaiting confirmation of banking statements from BB&T. Assuming that these statements are verified, the Auditor should be able to issue a report without qualifications.
ACTION ITEMS
Building Engineer Contract
The Board reviewed four proposals. The Board asked the manager to check references of one company. If the references are good, the Board authorized the President to sign the contract with one of the companies after having legal counsel review the contract.
HVAC Consultant
The Board asked the manager to contact the consultant and to have him come in first to review the system and then to meet with the Board at a special meeting in early July. The Board discussed priority areas for this meeting including 1) The noise in the system; 2) the inability to cool the water temperature in the system in certain tiers to appropriate levels; 3) differences in hall temperatures; 4) the current balance in the system; 5) in unit leakages; and 6) monitoring devices for the system.
Work Out Facility
Owners Carolina and Roman Bas raised the possibility of developing a "work out" area on the eastern side of the roof. This idea had been raised before but at the time there was relatively little interest. The President appointed a committee of John Filice and Roman Bas to do a feasibility study for a low-cost work out area.
Fence around Patio
David Tuomey, owner of 113, requested permission to build a six foot fence around the patio outside his area. The Board raised several concerns including the possible interference with the line of sight for owners next door, the legal questions of who would be responsible for update and whether the Board could give this permission, and the overall change in the exterior of the building. Mr. Tuomey pointed out that the fence would provide him greater security. The Board did comment that the new parking lot fence should increase security in the area and Mr. Tuomey agreed. The Board asked the manager to get an estimate of what it would cost to extend the new fence around the patio. They also suggested that the unit owner consider putting plants on the patio that would increase privacy while enhancing the outside of the building. Mr. Tuomey seemed agreeable to the idea.
Testing for lead and asbestos
Both will be done in early July.
Unit 212 For Rent
Unit 212, which The Lauren owns, is for rent. The Board asked that the manager also advertise it on the Lauren web site.
Garage Door Painting
President Drummie appointed Dwight Clark to head the a committee to oversee the painting of the garage door so that it is consistent with the building.
Tree boxes
President will work with the DuPont Circle Association to get the forms needed to join, Membership will give us a discount on the price price of railings around the trees on the street.
First Floor Water Leak
The Manager assured the Board that there are no active leaks. The carpeting on the first floor still shows stains which tend to reappear even after cleaning, but the leak has been stopped..
Trash in Stairwells
The Board noted that there seems to be an increasing amount of materials left in the stairwells. This is a potential fire hazard and is unsightly. Residents are reminded that they may not leave items in the public areas including stairwells, hallways and the space opposite the elevators in the basement. Lauren staff will remove items found that and may charge the person leaving the items with the expenses of removing them. The Board asked the manager to make sure that staff understood this policy.
Roof Policy and Roof Garden Hours
There have been increasing number of incidents of noise and inappropriate behavior on the roof which is disturbing to other residents. There is also concern about insurance and liability. The Board reiterated the long term policy of closing the pool area between 1:00am and 6:00am. Notice will be given to all residents in advance of July 1, 2004. The Board asks the all residents cooperate with this policy. The Board also reiterated that the desk personnel may not give keys to the roof garden to anyone other than a resident and then only after the resident has paid the appropriate fee and signed a release.
COMMITTEE REPORTS
None
REVIEW AND DISCUSSION ITEMS
None
EXECUTIVE SESSION
An executive session followed the regular Board meeting.
NEXT MEETING
Next meeting will be July 8 at 7:00pm.
ADJOURNMENT
The meeting adjourned at
EXECUTIVE SESSION
Followed the meeting the Board met in Executive Session.
RESPECTFULLY
SUBMITTED
Elizabeth A. VanderPutten, Secretary
TO SUBSCRIBE
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Minutes and other Lauren information may be found on The Lauren web site http://www.lauren.org/