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MINUTES OF THE BOARD OF DIRECTORS
APRIL 17, 2006
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE MEETINGS OF MARCH 17, 2006
The Board approved the Minutes as a true record of the meetings.
TREASURER'S REPORT
Net cash available at the end of March was $835,741.41
For year to date operations, through the end of March:
- total income was $237,276 which is under budget by $10,917;
- total operating expenses were $207,030, which is over budget by $2,560;
- capital expenditures were $4,051.
Certificates of deposit activity during March was as follows:
- 3/28/06
- A 9 month (276 day) CD was renewed at Independence Savings Bank.
- Renewal balance was $91,934.20.
- New rate is 4.720%.
- Next maturity date is 12/28/06.
Fund Balances through the end of March:
- operating fund balance is $83,612
- reserve fund booked balance is $789,177.
Audit Status:
The annual audit is running somewhat behind schedule due in part to needed documentation from Koger. The President and Treasurer will meet with Koger on April 19, 2006 to discuss this and other issues.
MATTERS ARISING FROM THE MEETINGS OF FEBRUARY 17, 2006
ANNUAL MEETING
The Board set Tuesday, June 6, 2006 for the annual meeting.
HVAC
Moore Engineering Report and Board-Meeting of 16 March 2006
The President and John Filice reviewed the findings of the Moore review of the McNabb proposals, including proposed solutions for the HVAC problems in the 04 tier and the need to replace all Whalen units over time. Both Moore and McNabb agreed that the Lauren must replace all Whalen units in a reasonably short time. According to both consultants, the Whalen units are past their expected life expectancy. John Filice encapsulated the import, "We are living on borrowed time." The Whalen units will either have to be replaced or an alternative system installed (e.g. heat pump system). The full report and a summary of the meeting notes have been posted. They are also available from the Property Manager.
Moore Engineering Report (February 14, 2006)
www.lauren.org/eng/moore_report_021406.pdfBoard Meeting Engineering Report (March 16, 2006)
www.lauren.org/eng/mn0603.htm
Whalen Unit Removal for Testing
The Moore report recommended removing a Whalen unit and sending it back to the factory for testing. The results would help the Lauren determine how quickly all units need to be replaced. The Board approved this recommendation.
O4 Tier HVAC Flow Reversal
The Moore report proposed reversing the pipes to be consistent with the appropriate design. The Board approved this recommendation.
Unit 1004
[Elizabeth VanderPutten did not participate in this discussion, other than questions for clarification. She recused herself from voting.]
The Board agreed to propose a combined project to the owners of Unit 1004, which would have three components: reversal of the connections of the HVAC water circulation pipes in the 04 tier, removal of the Whalen units from Unit 1004 for evaluation, and installation of a new heat exchange unit above the ceiling to serve Unit 1004. The costs of the pipe reversal and removal and evaluation of the Whalen units and ancillary costs would be paid by the Association and the cost of the new heat exchange unit would be paid by the owners of Unit 1004. The Association would be responsible for the conduct of the work. All elements of the project would be consistent with the recommendations of the Association's engineering consultants. Installation of the new heat exchange unit would solve the problem of poor performance of the air conditioning in Unit 1004, which is the result primarily of design errors in the HVAC system. The board agreed also to propose to the owners of Unit 1004 that they would be protected from having to pay twice for replacement of the heat exchange units if a future board decided to replace all units in the building and to pay for such improvements out of Association funds. The Board agreed also that it would make such a proposal after consulting with the Association's attorney to ensure consistency with the governing documents of the Association and after receiving detailed, itemized bids for the project from contractors.
The Board set a deadline of early May for the bids to be in and a proposal to be offered to the owners of Unit 1004.
OTHER ITEMS
Outside Air Control Sensor
Based on consultants reports, the board agreed that there is no need at this time to purchase a new external control sensor. Rather this can be done by settings with the existing system.
Cooling Tower Motor
The board agreed that the cooling tower motor needs to be replaced. This will save energy and limit the possibility of breakdowns. The Board approved a bid from NAC, which was the low bid.
Boiler Efficiency Testing
The Moore report estimates that boiler is "probably running at 55% efficiency." The Board asked the manager to solicit proposals to test the efficiencies of the boiler.
South Stairwell Ventilation
There are no air vents in the south stairwell, which leads to occasional heat buildup in the stairwell as well as some smells. The consultants, however, for technical reasons, advised against retrofitting them at this time.
Keeping Owners Informed
Because several expensive projects are forthcoming in the next few years, the Board asked that the manager send a letter to the owners requesting they send their email to the webmaster so they can get minutes and other notices.
Soda machine
The soda machine is still being repaired.
Bicycle Racks
New hinges have been purchased and will be put on the bicycle cage door.
Security Cameras
The new security cameras have been installed. They are checked once a month. The desk staff should also be reminded that they should report any malfunctions.
Building Freshening
The Board asked the manager to identify ways that the building can be spruced up without incurring major expenses. This could include painting, fixing of wall paper, cleaning etc..
NEW BUSINESS
Lobby Wheel Chair Lift
The President asked the manager to see if there could be an automatic door installed on the lift in the lobby.
NEXT MEETING
The date for the next meeting will be the Annual Meeting on June 6, 2006
ADJOURNMENT
The meeting adjourned at 9:40 pm
EXECUTIVE SESSION
An executive session followed the open meeting.
RESPECTFULLY SUBMITTED
Elizabeth A. VanderPutten, Secretary
TO SUBSCRIBE
To receive e-mail copies of Board Minutes, send a request to Property Manager Walter Krolman at
manager@lauren.org
Minutes and other Lauren information may be found in the Business Section of The Lauren web site
www.lauren.org/business.htm