|
MINUTES OF THE BOARD OF DIRECTORS
OCTOBER 23, 2006
READING, MODIFICATION, ACCEPTANCE OF MINUTES OF THE MEETINGS OF SEPTEMBER 25, 2006
The Board approved the Minutes as a true record of the meetings.
TREASURER'S REPORT
For year to date operations, through the end of SEPTEMBER:
total income was $728,635 which is under budget by $15,936;
total operating expenses were $615,472, which is under budget by $9,008;
capital expenditures were $36,255.
certificates of deposit activity during SEPTEMBER was as follows:
-NONE-
Fund Balances
operating fund balance as of the end of SEPTEMBER 2006 is $90,009
reserve fund booked balance as of the end of SEPTEMBER 2006 is $845,476
Audit Status
The auditor has not yet been able to complete the 2005 audit because there are transactions on the books that the management company has not yet explained to the auditor's satisfaction. The Lauren attorney will send a letter to the management firm requesting the information necessary to complete the audit and resolve any outstanding issues.
Past-Due DC Taxes
The Manager reported that he has spoken with the D.C. authorities about the current status of what we might owe. The next step will be a meeting with the D.C. auditor division. The Manager also reported that he has been in touch with Zalco, our previous management firm, about a tax payment they sent to the State of Maryland rather than to D.C. and is arranging a meeting with their staff to try to resolve the matter.
Budget for 2007
The draft budget will be discussed at the November 13 budget meeting. The budget will be formally adopted at the following Board meeting on November 21 at 8:00 PM.
COMMITTEE REPORTS
HVAC Committee
Convector Pan Coating
The Board has agreed that coating convector pans is a necessary short-term step to prevent water damage and extend the useful life of the HVAC system. The epoxy coating product to be used has been identified. The Manager estimated that it will take about 13 weeks (191 Whalen units at the rate of 3 a day). The Board asked that the Manager get bids for an outside contractor to do this. The Board might use in-house personnel but needs an outside bid for cost comparison persons. The work cannot be performed during the cooling season. The Manager will find out whether the coating can be done during the heating season.
Testing of Sample Whalen Unit
Because the Lauren's 35-year-old HVAC system is well past its 20-year industry norm for life expectancy, the consulting engineers recommended that a sample Whalen unit be removed from a unit and sent out for analysis to determine how much more useful time it has left. The Board had one removed from unit 1004 and solicited bids for its analysis. The Manager reported that potential contractors needed more information. The Board decided that the answer they want is to the question, "How much more useful life, at a minimum and maximum, is left in this unit?" This analysis will involve both a visual and metallurgical study.
HVAC System Renovation
The HVAC committee, based on previous engineering studies, reviewed five options. In reviewing the reports, the committee eliminated some options because they could take six months to a year install, during which time the whole building would be without air conditioning, and considered only those that could be done in phases. This is necessary so that work can be done in short periods of time and not turn off heating and cooling for long periods.
The second criterion was cost. Based on this, the Board narrowed the choice to two options.
- Replacing the current two-pipe Whelan system with a similar system. Because these would be new air conditioning units, everyone would be back to original design level or better heating and cooling. However, individuals (as at present) would not be able to switch at will between heating and air conditioning.
- Water Cooled Heat Pump System. This might allow individual unit control of heating and cooling. This system could also potentially save on heating and cooling. However, it was not clear to the Board if this could be installed in phases or it would require additional electrical and other alterations to the building. This would be a more expensive choice, but might give more benefits.
The committee will do further investigations on these two options and start the process of getting bids by the next Board meeting.
Unit 1004 Agreement
A subcommittee of the Board will meet Wednesday, October 25, at 7:00pm with the unit owner to work out the details of the agreement.
AD HOC FINANCIAL MANAGEMENT SEARCH COMMITTEE
Treasurer Joe Morris reported on the Management Search Committee (Joe Morris, Brian Larkin, Walter Krolman). The Committee narrowed the list of vendors to four which they visited. There are two types of bids: full service (including benefit management such as health insurance) and a more limited financial management that would not include payroll processing. The committee judged that each of the firms could do the work, but each has certain benefits and costs. Additional questions have been sent to the companies.
The firms range from large companies with many clients to small firms with only local clients. Prices range from about $12,000 to $18,000 per year, which is more than we currently pay.
Two firms appear to be the most appropriate for the Lauren. The President asked that the committee get a firm price from these two companies. The goal is to have the new contract in place by November 3.
The President thanked the committee for their extensive work.
MATTERS ARISING FROM THE MEETINGS OF SEPTEMBER 2006
Accessibility-Lobby Lift/Front Entrance, Ground Level Alterations.
Actions was postponed until there is discussion with owners most involved and a full cost/benefit analysis is done. No time has been set for the meeting.
REVIEW AND DISCUSSION ITEMS
Additional Fence Installation by Unit 113 Patio
This is still under discussion by the Board.
Unit Owner Compliance with DC Law/Regulation
This is still under discussion with the Lauren's attorney.
The front door buzzer and intercom
The lock on the front door burns out more frequently than should be expected. The Manager is trying to figure out what is causing this. The doors may be in misalignment. The board requested that the manager contact a commercial door expert for guidance in fixing the situation. The manager will also talk to an architect to see if re-hanging might help.
Phone System
The ten digit upgrade for the phone system is still on order.
NEW BUSINESS
Diesel Fumes
Don Benedick reported that the diesel exhaust at the ground level from the building immediately to the east is creating problems. The Board will ask the Lauren attorney for an update on what the Lauren might do and whether this is in violation of D.C. laws. The board committed to following through in an attempt to alleviate the situation as soon as possible.
Vending Machine in Laundry Room
David Lilling reported that he had contacted several companies that service vending machines and he located three that might be interested in working on the soda machine in the laundry room of The Lauren. He said one would be in touch with the Manager and recommended that the Board get bids from the other two. The Lauren is testing whether it is cost effective and worthwhile for the condo to maintain the system themselves. The board asked the Manager to follow up and thanked Mr. Lilling for his efforts.
"Quality of Life" survey.
The Board is considering sending out a questionnaire to solicit opinions from owners and tenants on quality-of-life issues in the building.
Garage Door
The garage door was broken and remained open over the weekend but has now been repaired. The board directed the manager to have a sign made and installed, alerting all persons entering the garage that they are on camera.
Staff Name Plates
Name plates for the front desk personnel have been ordered.
Roof Garden Signs
New signs have been ordered for the roof garden. The board also directed that safety chains be placed around the pool at all times that it is empty.
Contractors/Hallways and Public Areas
Owners are reminded that their contractors must be careful not to mess up the hallways and not to use the hallways as storage areas.
NEXT MEETING
The budget meeting will be held on November 13 at 7:00 PM.
ADJOURNMENT
The meeting adjourned at 10:20 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/lrn_business.htm