The Lauren, A Condominium
Minutes of the Board of Directors
October 7, 1998
President Joe Morris called the meeting to order at 7:05 p.m. in unit Manager's Office. Present were Board members Joe Morris, Adrienne Simenhoff, Mike Silverstein and Elizabeth VanderPutten and owner Waldemar Wajszczuk. Owner Brian Larkin attended part of the meeting.
President Joe Morris announced that Waldemar Wajszczuk has agreed to fill the position vacated by John Doolittle.
Treasurer's Report
As of August 31, 1998, net cash is $411,878. So far for this year, we had an income of $566,731 with expenses of $521,373 with a surplus of about $45,358. The prime factor in the surplus is that operating expenses have been at $41,240 under budget with utilities $10,430 below projections.
In August, the Condominium had a $1,453 surplus.
Payroll expenses were somewhat higher than projected because of the need to have staff cover the side door during lobby renovation.
Overall, capital expenditures were within the capital expenditure budget. Capital expenditures were $11,149 in August, with almost all those going for lobby renovations.
The Lauren financial conditions remain strong, with expenses including capital expenditures are below projections and income just slightly above projections.
Due to careful management and follow through, less than $1,000 was owed to the Condo in past due condo fees.
Action Items
High Speed Internet Access for the building
The Manager is still trying to find out if high speed Internet access can be offered to individual members without directly involving the Board. There are still some technical questions: e.g. what kind of Ethernet cards or modems must be installed in the computers. This would add to the estimated $40 per month cost. The other question is what kind of structural changes are needed. How can the Board make sure that the Condo is protected from any damage? The Board agreed to distribute a letter from the vendor to owners and residents asking if they are interested.
Lobby Redecoration
Owner Brian Larkin reported on problems people have had with opening the door in the lobby. The problem is that the handle is placed for wheelchair access but it makes a problem with opening the door for handicapped persons or tall persons. The Board asked Georgetown design to find out from the vendor what can be done to either move the handle or install a second one. The Board also asked them to explore the possibility of adding a power support for opening the door. This may not be technically possible. The tightness of the spring is also a problem. The manager will look into this.
The City finally approved the installation of pavers outside the door. There is no word yet on when the city will record the deed and issue a permit.
The elevator wall panels have been delivered. Installation will begin this week. The stainless steel cleaners have not yet agreed to a schedule.
The Property manager presented a new alternative for restoring the marble in the lobby. The board approved getting a final proposal from a company that will strip and finish the tiles. The cracked tiles will be replaced. Total estimated cost is $1,600 for the first cleaning.
The Board approved some minor changes for the office area including improved ventilation, protection for the kick panel etc. Cost is $675.
The Board discussed where a bulletin board could be placed. While aesthetically controversial, the Board recognized a need to have a small place to put minutes and other important notices. The Board asked for some suggestions from Georgetown on a small bulletin board.
Property Manager's Report
Hallway emergency lighting. Property manager presented a proposal to replace the emergency lights that are not holding their charges. The Board approved the purchase of the lights at an estimated cost of $1600. The Board had budgeted $3,500 for this.
Exterior doors. The north and south exit doors (not the new main entrance door) and the boiler room door are 25 years old, rusted and need to be replaced. The estimated cost is $1,800 each. The Board asked Walter to get one other bid but authorized the current vendor if no other bid is received within a few weeks.
HVAC. Krolman reported that there were no operating malfunctions since the last Board meeting. However, as part of routine maintenance, a defective starter relay was found. The number 2 compressor was put out of service. This is not a problem given that the high heat season is over and the number 1 compressor can carry the load.
Cleaning of convectors will begin in mid-October. It is always difficult to satisfy the need for heating and cooling during the Fall and Spring. Weather changes from day to day. People in the front of the building may need air-conditioning and people in the back heat (which is not possible) The Board thanked the residents in advance for their patience.
Heat will be turned on (and air-conditioning permanently turned off for the season) between October 15 and November 1, depending on the weather.
Trash Chute Exhaust. The Board discussed a proposal from Cacho to put a booster fan in the chute to help clear the air. Estimated cost is $2,000. The Board will do a little more exploration of this issue.
Preventive Electrical maintenance. This must be done every three years. The power in the building must be turned off for about 6 hours. The Board approved Saturday, October 24th as the date from 9 - 3. This has the advantage of being the date the clocks must be reset anyway. A memo will be placed in each mailbox about this.
1999 Budget. The Board began its initial discussion of the 1999 budget. The Property Manager presented a draft operating budget and the Board discussed priorities for capital reserves. The next meeting will be the public budget meeting.
Next Meeting
The next meeting of the Board will be Monday, November 16.
Adjournment
The meeting was adjourned at 9:15. Executive session followed.
Respectively Submitted
Elizabeth VanderPutten, Secretary
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