The Lauren Condominium Association

Minutes of the Board of Directors

September 30, 1997

President Joe Morris called the meeting to order at 7: 10 p.m. in Unit 109. Present were other board members Eileen Collins, John Doolittle, and Elizabeth VanderPutten plus Property Manager, Walter Krolman. The following owners were present for a portion of the meeting: Dr. Mokhless Al-Hariri, Roger Hirschland, Dr. Brian Larkin, and Dr. Michael Petite.

Treasurer's Report

The Lauren's finances closed the month of August in good shape. As of August 3 1, the Lauren's Capital Reserves were booked at a healthy $317,006. This was an increase of nearly $15,000 from a month ago. The Association's Cash on Hand at month's end was $408,490, up roughly $9, 100 from July. Net Cash Available was recorded at $372,856, up about $13,000.

The operating income received by The Lauren for July was over $3,200 more than had been anticipated - most of this arising from additional laundry, in-unit service and move-in. income. As for expenses, all of the eight major budget categories were under budget for the month of August. The year-to-date figures also show that expenses generally have been less than anticipated. For the first eight months of the year, the only budget category that is over its forecasted figure is Utilities. The overage for this item is about $2200 at this point and is the result of higher water and sewer rates that were announced after the 1997 budget had been approved.

In August, Capital Expenditures of $2,568 were made for miscellaneous items. Overall, Capital Expenditures are under budget by $65,800 for the year so far. However, several projects have been completed or are underway for which the Association still must make payment. In addition, there are still a few capital projects that will take place later this year.

There were no investment activities during the month of August.

-Waldemar Wajszczuk, Treasurer

Committee Reports

Zoning

Zoning Committee Chair, Dr. Brian Larkin reported on his recent activities regarding zoning matters. Last month Larkin, Joe Morris and John Doolittle met with a member of Ward 2 Council Member Jack Evans' staff, Lyle Blanchard. The purpose of the meeting was to discuss with Blanchard the history and situation of the Lauren with respect to changes in zoning for the neighborhood. Larkin gave Blanchard a tour the building. Also last month, Larkin attended a meeting of the Dupont Circle Advisory Neighborhood Commission (ANC) where he had an opportunity to meet with Jack Evans and discuss proposals by the City's Office of Planning to change' the master zoning plan for the Lauren neighborhood.

Lobby Renovation

Renovation Committee Chair, Roger Hirschland, reported that he and the other committee members, Dr. AI-Hariri and Dr. Michael Petite, had completed their recommendations for the lobby. Their plan begins at the curb at the front door of the building and continues through the lobby, the first floor, and the inside of the elevators. Total cost for the plan is estimated at $57,000. This figure is $12,000 above the amount budgeted for the project. Since the elevator upgrades and front walkway expenses are expected to cost about $12,000, that work could be delayed a year and everything else proposed could be completed this year. Following the presentation there was a discussion about the proposed changes as well as the process of implementing and supervising the renovation plan.

Marketing

Chair, John Doolittle reported that a camera-ready copy of the Lauren Brochure will be available for Board members to approve within the next week.

Action Items

Airflow/Ventilation-Review

It was decided to go ahead with a proposal from Encon Group Inc. of Silver Spring to provide a general assessment of air flow in the building. Cost for the study and report is $1,750. The Board seeks information to help interpret the results of the earlier measurement of air flow from exhaust ducts in the building and to provide a technical perspective.

Elevator Emergency Phones

Property Manager Walter Krolman was advised by various elevator company representatives that because of the proximity of the elevators to the front desk staff the existing alarm in the elevators should be sufficient. It was decided to post signs reminding anyone in the cars to keep depressing the emergency call button if they are trapped in the elevator.

Front Desk Emergency Phone

Walter Krolman reported that the telephone system at the front desk will not allow for the inclusion of the telephone line in the managers office. Therefore, he recommended that an additional telephone line be installed at the front desk so personnel could call out and receive incoming calls simultaneously. This ability is considered to be essential during an emergency. The Board decided to install the additional line.

Reserve Study

It was decided to update the replacement and reserve study of the building which was last made in 1992. The same firm that did the earlier work, R.J. Moore will be asked to submit a bid for the project.

Property Manager's Report

The report was accepted as presented.

Adjournment

The meeting was adjourned at 8:50 p.m. The next meeting was scheduled for Wednesday, October 30 at 7 p.m. in Unit 109. All residents and owners are invited to attend meetings of the Board of Directors. Executive session followed.

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.

Respectfully Submitted

John Doolittle,

Secretary