The Lauren Condominium Association

Minutes of the Board of Directors - October 13, 1999

President Elizabeth VanderPutten called the meeting to order at 7:35 in the Manager’s Office. Present were other Board members Joe Morris, Mason Essif, and Eileen Collins. Also in attendance was Property Manager Walter Krolman.

Board Appointment

President VanderPutten, with the concurrence of the other Board members, announced the appointment of Eileen Collins as 2nd Vice-President.

Treasurer’s Report

As of September 30, 1999 the Lauren had $578,557 on hand. In September, we had income of $56,843 compared with expenses of $56,336 for a monthly surplus of $506.

Operating income was over budget by $2,562, while operating expenses were under budget by $1,586.

In September capital expenditures of $4,709 were made for continuing lobby renovations.

As of September 30, the Lauren had total income of $455,805 compared with expenses of $433,728, for a year to date surplus of $22,077.

Since the last meeting the Association has moved $80,000 from a money market to a 3 month Certificate of Deposit at Fremont Investment & Loan so as both to keep the money market within FDIC insurance limits and to secure higher interest rates.

Action Items

Roof Repairs

The Board reviewed specifications as developed by Seal Engineering and subsequent bids from three (3) contractors. The Board accepted the bid of James R. Walls Contracting Co., Inc. to effect designated repairs.

Private Unit Renovation

The Board approved renovation plans submitted by the owner of unit 916.

Committee Reports

Technology Committee

It was reported that Starpower has received the Lauren’s signed acceptance of their proposal to develop construction documents relative to the installation of their services (cable television, internet access, local telephone). Starpower indicates that the proposed plans should be at the Lauren no later than October 22nd for the Board’s review.

Noise Committee

The committee reminds all residents that the names and phone numbers for the Metropolitan Police Department contacts is posted on both bulletin boards and the Lauren’s home page. Public spirited members of the community are encouraged to call the police when they witness incidents of buses idling longer than allowed or earlier than permissible starts of construction.

Lobby Decoration Committee

The Board reviewed two proposals for a table in the upper elevator lobby. They instructed Walter Krolman to obtain answers to several specific concerns about composition, durability, and alternate colors from American Office Products for further consideration.

The Board requested the Property Manager to secure proposals for a garbage can that would be compatible with other lobby accoutrements.

Status and Discussion Items

HVAC Changeover System

The Board has previously discussed the purchase and installation of a changeover system that would allow for more air conditioning/heating flexibility during the transitional periods of the year. Additional questions are to be posed to building engineer Wayne Hall, with Walter Krolman to then submit a final recommendation based upon Mr. Hall’s responses.

Laundry Equipment

Research conducted to date was presented to the Board. The Board discussed the relative merits of varied forms of “ownership”, different brands of equipment, types of washers, methods of payment to activate equipment, accounting and maintenance options. Board members Mason Essif and Eileen Collins volunteered to perform site inspections on other recently renovated laundry rooms so as to provide first hand opinions and observations. In the meantime the Property Manager will secure answers to
specific questions, and will obtain pricing on several preferred options.

Building Access

The Board directed the Property Manager to continue efforts to obtain a previously identified lobby ramp for a trial period. He was also asked to pursue merits and pricing on an infrared door release for the elevators. Copier Parts and materials for the association’s ten (10) year old machine are becoming increasingly difficult to procure. The Board directed Walter Krolman to research capabilities and costs of available equipment and submit a recommendation to them.

Budget 2000

A very brief discussion was conducted. Treasurer Joseph Morris will confer with Walter Krolman prior to the next Board meeting to review current and projected operating expenses.

Good and Welfare

The Board wishes to publicly thank Secretary Waldemar Wajszczuk for his lead role in organizing the 4th Annual Lauren Roof Garden party which was held on October 6th. While the food and beverage were excellent as always the highlight of the evening was a fireworks display over the Potomac that rivaled the 4th of July presentation in beauty if not length.

Next Meeting

Next meeting: November 17, 1999 at 7:00PM

Adjournment

The meeting was adjourned at 9:10PM. Executive session followed.

Respectfully Submitted

Waldemar Wajszczuk, Secretary Walter Krolman, Recording Secretary

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