Annual Meeting -- June 6, 2006

2005-2006:

26th annual meeting  

President's Report

Mechanical Systems have been the dominant focus of this years work, the president reported. The projects are integral to maintaining the comfort of the building and to enhance to the extent possible the energy efficiencies

Following the recommendations of last year's meeting, a second engineer was hired to review the work of the first engineering consultant. The two reports were substantially consistent.

This year we will test the current system to make more accurate predictions about the life expectancy of the current unit. The board will also look at the possible alternatives in terms of cost, length of time to install, timing of installation, increased comfort and energy savings.

During the year, a new air-conditioning unit was installed in the elevator shaft as an effort to reduce the outages. So far, so good. The board had cables replaced in the elevators.

Sale prices remain high. Fourteen units changed hands; prices are not increasing as rapidly as before but are reflective of the market. The rental market is strong.

Utilities continue to be very high. Roughly 75% of the increase in condo fees is the result of energy cost increases, mainly in natural gas. Insurance costs are also going up so the board is investigating alternative carriers.

Staff has remained stable and excellent. One new porter was hired this year.

The president thanked Brian Larkin for maintaining the Lauren web site; Don Benedict for landscaping; Erin Erlenborn for noise control and garbage truck patrol. He also thanked the HVAC committee headed by John Filice with Eileen Collins and Brian Larkin.