Lauren Condominium Association

Minutes of the Board of Directors

April 24, 1996

President Brian Larkin called the meeting to order at 7:05 p.m. in Unit 109. Present were other board members, John Doolittle, Jason Juffras, Paul Kearney and Waldemar Wajszczuk and Property Manager, Walter Krolman plus resident Roger Hirschland.

Treasurer's Report

For the month of March, the financial health of The Lauren continued to be stable. The capital reserves increased for the third straight month. although by a modest $5,000 (due to a $7,900 transfer out of reserves for capital expenditures). On March 31, the capital reserves were booked at $247,500. On the down side, the net cash on hand and the not cash available were down slightly from February levels.

Income for the month was near anticipated levels (when adjusted not to include budgeted transfers from reserves), but was about $3,300 less than Association expenditures for the. month. The Utilities, Maintenance, Contracted services, and Administrative budget categories were over budget for the month of March Of these, the Utilities category were over by about $3,100 because of gas\fuel off roasts, and the Maintenance costs were over by about $5, 100 because of die unanticipated garage door repairs, die additional snow removal supplies needed this year, and general building repairs. The under budget categories were led by Professional Services ($1,300 under), Personnel expenses ($900 under), Insurance & Taxes ($20 under).

Capital expenditures of $7,800 were recorded for die month of March 1996 (oil tank disposal, air conditioning chiller pump replacement), winch appears to be about $22,000 under budget for (he month of March However it should be noted that this amount ;is an artifact of timing and will be used in the coming months for the capital improvement projects for which it was budgeted.

Action Items

Hallway Renovation

Michael Gotwald of Gotwald and Finch said he will receive all bids from contractors within a few days. Despite the fact the firm moving to Albuquerque, New Mexico, This move will not hamper the renovation project according to Gotwald. The maw will not occur till mid July and work should be completed by the end of June. Once the bids are in Gotwald will analyze them and the Lauren Renovation committee will make a final decision. Then the materials will be ordered and the work will commence.

Gotwald presented lobby renovation plans. They included the addition of a lift to accommodate a wheel chair in the outer vestibule. This addition will ensure that the building will be in compliance with the requirements of the Americans With Disabilities Act The lift would be installed next to the lobby stairs. This addition will require that some of the mailboxes be moved. Plans include the installation of larger mailboxes. Approximately 30 boxes would be placed in the area where the mailboxes are presently and the remaining ones in the hallway near the elevators. Lobby walls would receive now finishes and the flooring would be replaced with a rough stone. Ile color scheme presented was copper and rust. The lobby office would be reconfigured. The lobby and vestibule ceilings would be dropped four inches to allow for the installation of recessed lighting. Gotwald showed a selection of lobby furniture including chairs, a table, lamps and window drapes.

Annual Meeting Administrative

Property Manager Walter Krolman reported that sample ballots have been prepared for any issues that come up during the meeting and require voting. Ballots will be prepared for board of directors election which includes announced candidates as well as write in candidates.
 

Committee Reports

Personnel Committee Chair Jason Juffras distributed a final report containing the Lauren On-Site Employee Personnel and Policy Manual. Board approved the report. Among the major changes are the institution of a formal evaluation system for employees, a probationary wage level for new employees, and a policy outlining bonuses for outstanding performance by employees
 

Review Status and Discussion Items

Walter Krolman is investigating various ways of replacing the hot watcr system (heaters and holding tank) with the most efficient means of providing the building with hot water. He will report options to the Bond at its next meeting. Flash heaters have been shipped to the manufacturer in Tennessee for repair. Heat exchangers will be back on line in Mid may

Four residential parking spaces (without meters) are now available on the South side of Sunderland at Twentieth Street. Zone 2 Parking signs have yet to he installed in the area. David Lilling is responsible for initiating the conversion of the spaces.

Outdoor oil tank removal began this week when construction crews went into the vault that encases the tank. Oil was discovered on top of the tank. Soil sample showed it contained oil but no other contaminants. Workers will suck out the sand around the tank. This Saturday they will open the tank in presence of the Fire Marshal to determine the presence of contaminants. The tank will be broken into pieces and removed, Then the soil underneath the tank will be examined. Work will be concluded by the end of April. While the area next to the foundation is exposed, the exposed surfaces will be waterproofed.

Roof deck work is nearly complete. Benches removed from the edge, railings have been reinforced, landscaping will be done soon.

The Board at their October 26, 1995 meeting adopted a policy that owners will be notified of any litigation initiated against the Lauren. Such notice will be included in the Minutes of the Board at their meeting following the initiation of a suit The Board also adopted as policy that, upon advice of counsel and as a matter of policy, the Board and management will not discuss any aspect of pending litigation but will refer any such inquiries to the Lauren's legal counsel.

Managers Report

Soda machine has been running out of Diet Pepsi and the vendor is being asked to provide an adequate stock of the drink.
 

Adjournment

The meeting was adjourned at 8:50 p.m. An executive session followed. The annual meeting of the Lauren Condominium Association will be Wednesday, May 8 at 7:00 p.m. at the Marriott Hotel on 22nd Street

Respectfully Submitted,

John Doolittle,

Secretary