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MINUTES OF THE BOARD OF DIRECTORS
February 24, 2005
SPECIAL NOTICE
On behalf of the Board, President Drummie congratulated our weekday desk person Ruta Michael on the birth of her daughter.
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE JANUARY 20, 2004 MEETING
The Board approved the Minutes as a true record of the meeting.
TREASURER'S REPORT
Net cash available at the end of January was $763,812.36
For year to date operations, through the end of January
- total income was $71,319 which is under budget by $3,932;
- total operating expenses were $58,431, which is under budget by $6,554;
- capital expenditures were $0.00 (zero).
Fund Balances
- operating fund balance as of the end of January 2005 is $82,017
- reserve fund booked balance as of the end of January 2005 is $662,161.
Certificates of deposit activity during January was as follows
- New South-6 month CD rolled over. New maturity date is 7/16/05. Interest/yield are 2.73/2.75% respectively. Balance at time of rollover was $59,427.93
- New South- 3 month CD rolled over. New maturity date is 4/24/05. Interest/yield are 2.48/2.50% respectively. Balance at time of rollover was $46,943.74
- Capital One- 36 month CD rolled over. New maturity date is 1/19/08. Interest/yield are3.44/3.49% respectively. Balance at time of rollover was $54,235.51
Outside Broker
The Board voted not to enter into an agreement with a financial broker at this point.
MATTERS ARISING FROM THE MEETINGS OF JANUARY 20, 2004
Hallway Ventilation and Exhaust Improvement Project
President Derek Drummie welcomed the many interested owners and residents and the interest shown in the Board's current work to improve the HVAC and hallway ventilation systems. He said he believed everyone agreed on the major goals of the project, which is to provide clean, fresh air with appropriate heating and cooling for all units in the building.
The President provided an update on the Hallway Ventilation and Exhaust Improvement Project and described the function and current status of its main elements. The problem is that heating, cooling, and ventilation in the halls are inadequate. The purposes of the project are to enhance hallway ventilation and air quality, better control air conditioning, and repair or replace related equipment as needed. He noted that this was a complex and necessarily evolving project.
A note from Laurentians for Clean Air had been widely circulated by Eileen Collins and this was used as a template to address the issues and concerns as follows:
Install a temperature control system for the halls.
He noted that temperature and air flow in the halls and lobby are controlled separately from those in individual units. The Board had planned to install and electronically monitor thermostats on three floors to control hallway temperatures. He reported that further research by our consulting engineer now concluded that this would not be necessary and it would be possible to improve temperature control by better regulation of the flow of water through the air handler for the halls.
Install missing or defective fire dampers.
Last fall, a study found there are three missing fire dampers and almost all the dampers are defective in the sense that they cannot be moved. At the October 2004 meeting, the Board approved the repair or replacement of fire dampers in the hallway. This is required by law and will increase air flow in the hallways, thereby giving more fresh air into the hallways. Bids are now being obtained for their replacement.
Increase the amount of air into the hallways.
President Drummie said the Board was attempting to increase the flow of fresh, filtered air into the hallways. The outlets had been experimentally blocked in an attempt to create greater positive pressure in the hallways. This particular part of the scheme had caused concern to some residents and the Board agreed that the vents be unblocked with immediate effect. Air intake would be boosted and the extract would use the existing adjustable louvers. In turn, this should reduce the amount of odors from apartments entering the halls. At the same time, by eliminating fresh air loss through missing or non functioning dampers and by turning up the intake fan speed, air flow into the halls will be increased and hallway air quality should be significantly improved.
Attendees also asked for further clarification about how the Board would decide the order to replace the Whalen units in all
It was noted that many air conditioning and exhaust issues can be controlled by individual units, using thermostats and adjusting fan speeds.
The Lauren has a small supply of replacement parts available for purchase. Contact Walter Krolman manager@lauren.org
Exhaust vents in individual unit kitchens and baths need to be kept clean and clear of obstructions. The Board in 2002 had a study of building exhaust vents done. It showed that some were not working as well as others. Mr. Drummie said the Board plans to take this up after the current steps in the hallway and related projects are finished.
The Board decided to make technical assistance available to residents with air conditioning or exhaust concerns to advise as to what to install (at owner s expense). Contact Walter Krolman manager@lauren.org.
O4 Tier Options
President Drummie discussed the need to bring the 04 tier pipes up to the standard of the rest of the building. The existing pipe diameter in one of the 04 tier is smaller than others, which makes it able to deliver less than half the appropriate cooling to the 04 tier. Although a 1" pipe transports the same volume of water, it is at higher velocity and thus has a lower heat exchange factor. It is not possible to replace the pipe without replacing the unit. The industry standard life expectancy for these units is 18 years according to both our reserve study and the major heating and air conditioning parts supplier. Since the Lauren units are now 30 years old, they are well past their expected useful life and even with the Lauren's preventative maintenance program, it has to be assumed that they will need to be replaced sooner rather than later. Further research is being undertaken by our Consulting Engineer.
Several attendees raised related issues including how the Board would decide the order for replacing the Whalen systems in all of the units.
The Board discussed various options related to paying for the Whalen unit replacement, both in the 04 tier and more generally. The Board was taking advice on the options before it and, in the interim, requested that bids for replacement units and installation be obtained for the next meeting.
Committee Reports
Wireless Broadband Internet
The Board appointed Erin Erlenborn (713) and Brian Larkin (1004) to head a committee to investigate getting wireless access for the building.
Action Items- In Addition to Those Found in 3.0
Historic District Discussion
President Drummie reported that it appears the Dupont Historic District Expansion proposal by the city is not going to succeed at the present.
Sunderland Place Entrance
The manager reported that a proposal to replace the bricks at the entrance with a fence is being prepared.
Vending Machine
The Manager reported he had talked with staff member at the Pepsi-Cola headquarters staff about removing the machine in the laundry room. He said he is hopeful that this can be accomplished within the next few weeks.
NEXT MEETING
The next meeting is scheduled for Thursday, March 31, 2005 at 7:00 P.M.
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/minutes.htm