Lauren Condominium Association
Minutes of the Board of Directors
October 30, 1996
President Brian Larkin called the meeting to order at 7:20 p.m. in Unit 109. Present were other board members Eileen Collins, John Doolittle and Joe Morris and Property Manager, Walter Krolman.
Treasurer's Report--
Overall, the Lauren ended the month of September in reasonable financial shape. In September, the capital reserves declined by roughly $9,000, ending the month at $191,000. The decline in reserves was due to the completion of several capital projects in September and was anticipated. The total cash on hand on September 30 was $275,641.11, down about $9,000 from last month. While the net cash available was down $26,000 to $160.090. This noticeable drop in net available cash results from the decline in reserves and an increase during September of cash committed to other operating expenses.
The amount of income the Lauren received in September was about $800 more than anticipated when adjusted to exclude the capital reserve transfers. Most of this additional revenue is interest income received from investments. In September, three of the eight main budget categories were under anticipated amounts, while five categories were over. The under budget categories were: Salaries ($3,000), Contracted Expenses ($500), Administrative Expenses ($70), Insurance & Taxes ($3,400) and Capital Expenditures ($11,500).
During September, the Lauren paid out $22,161 in capital expenditures. The hallway renovation and master-decorating plan were responsible for a majority of these outlays at $18,192 and $1,569 respectively. In addition, $2,400 was paid during September for the cooling water controller.
Action Items--
Hallway Renovation
Signs for public areas in the have yet to be delivered. We are also waiting for a catalogue of styles and prices for urns so as to compare prices with those presented for Board review by Gotwald and Finch.
Roof Repairs
Seal Engineering has identified two sources of water leaks in the roof area. One entry point is from windows on the Penthouse floor. The other is the drain and door sill adjoining the elevator shaft room. The estimated cost for wetproofing the window and sealing the doorway is $2,000. The Board decided to make the repairs.
Weather-stripping Windows
The advantages of adding a weather stripping to the building's windows was discussed. Such a measure would reduce air pollution, lower energy costs and minimize outside noise. Property Manager Walter Krolman was asked to obtain information on costs for weather-stripping the entire building. Also discussed was the issue of who should be responsible for paying for the work.
Committee Reports--
Cost Containment
The Committee is reviewing one proposal for leasing the roof to communication companies who will place antennas on the building. In addition, we are awaiting a reply from another firm.
Marketing
The committee has conducted a second focus group session to aid it in identifying the strengths of the Lauren. Persons renting units in the building were invited to the meeting and shared their views with committee members Melva Casell and Adrienne Simenoff. The committee will review these comments and use them to formulate a marketing plan.
Zoning Committee
Chair Joe Morris said the second draft of the committee's report is being prepared.
Review Status & Discussion Items--
Master Renovation Plan
The Lauren's attorney, Joe Douglass, advises that American with Disabilities Act (ADA) legislation regulations clearly apply to the Lauren as it would to any office building since there is public traffic throughout the building. When asked if remodeling of the lobby would require that the completed lobby comply with ADA regulations, Douglass said that would depend upon whether an owner asked for accommodation. President Larkin said that although the ADA law may not apply to the Lauren now sooner or later the building would have to comply with the rules. The Board decided it would ask the architectural firm Gotwald and Finch to provide additional details of its plans to remodel the lobby both as it would conform with ADA guidelines as well as not conform. In addition, the Board decided to hire an expert on ADA issues to offer a range of alternatives to deal with the ADA requirements.
Lauren Newsletter
The next edition of the newsletter will include all new Lauren residents.
The publication will be out soon.
Emergency Evacuation Plan
The draft of evacuation plans will be ready for Board review at its next meeting.
In-Unit Washers/Dryers
It was decided to table a discussion of the study provided by an engineering firm regarding the types of washer/dryers that are recommended for in-unit installation.
Laundry Room Washers/Dryers
The firm that maintains the machines in the laundry room reports that they are in good shape and have several years of life remaining. According to Property Manager Walter Krolman the washers and dryers are working satisfactorily at this time.
Annual Budget Meeting
The Board will hold a meeting when the Lauren budget for next year will be drafted on Thursday, November 14 in Unit 1004. The meeting is open to all residents.
Master Antenna
Repairs have been made to the master antenna system in the building. Breaks in the wiring have been spliced and some of the relays replaced. One resident who was unable to receive Channel 26 does so now (on channel 11).
Floodlight installation
Sunderland Street is now lighter now because two floodlights were installed on Northeast corner of the building. The lighting provides additional security to people coming out of parking lot and walking along building.
Building Air Duct Cleaning
It was decided to investigate the availability of service to clean heating/air-conditioning units within units and make that information available to all residents. It was also suggested that we determine how well air flows in bath and kitchen vents throughout the building.
Property Manager's Report
The report was accepted as presented by Walter Krolman.
Adjournment--
The meeting was adjourned at 10:20 p.m. Executive Session followed.
The next meeting of the Board will be its annual budget session. It will be Thursday, November 14 at 7 p.m. in Unit 1004.
Copies of the Minutes of this meeting may be obtained via e-mail by sending Property Manager Walter Krolman a request at WKrolman@aol.com or WKrolman@pop.erols.com.
Respectfully Submitted,
John Doolittle, Secretary
