MINUTES OF THE WORONZOF CONDOMINIUM
ASSOCIATION
BOARD OF DIRECTORS MEETING
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MINUTES OF THE WORONZOF CONDOMINIUM
ASSOCIATION |
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JANUARY 11, 2002 The following Directors were present: Jeff Cooper Also present was managing agent, Gordon Hazell, of Bonanza Realty, Inc. A quorum being present the meeting was called to order by the President, Jeff Cooper, at the hour of 7:05 p.m. in the 2nd floor conference room. The minutes of the December 8th Board of Directors meeting were distributed and reviewed. Gloria Kron moved to approve the minutes as written. Joe Fisher 2nd the motion. The motion was approved. James Call will e-mail the status report to the managing agent for attachment to these minutes. The managing agent reported on the transition of records from Courtney & Associates. All records except the current files have been transferred. The current records should be received on the following Monday (January 14th). James Call offered to get with the managing agent and show him around the building. The managing agent distributed the current receivable report for the Board to review. It was noted that a homeowner has made a substantial payment on their past due account. The Board requested a reserve analysis. The managing agent will be providing this with the monthly financial reports. Joe Fisher reported that there was approximately $ 53,000 in the reserves and suggested putting the funds into a CD. Joe also reported that there was approximately $ 14,000 in the association’s operating account and that a contingency reserve of $ 5,000 be set up to cover miscellaneous repairs. Gloria Kron moved to research the best interest rates and to purchase a one (1) year CD for $20,000.00. Jeff Cooper 2nd the motion. The motion was approved with Joe Fisher opposed. New signatures cards with Wells Fargo were signed. Gloria Kron moved to close the Association’s accounts at Wells Fargo Bank and to open new accounts at Northrim Bank. Elena Farkas 2nd the motion. The motion was approved with Joe Fisher and Jeff Cooper opposed. The Board discussed the problems with the front security door. The managing agent was asked to get an estimate to replace the door as it has been repaired several times. The managing agent asked about a lease from the property adjacent and to the east. James Call reported that this is for the Black Angus restaurant as they encroach 5 feet 8 inches onto the association’s property. The managing agent will research the current status of the lease. Joe Fisher reported that the fire extinguishers and sprinklers have been serviced by Grinnell. Joe reported that the wires have been cut to the batteries in the exit signs and would be costly to repair. Joe distributed information on a new non-electric exit sign that would cost $250.00 installed and had a 25 year life. Gloria Kron moved to purchase three (3) exit signs at $250 each. Jeff Cooper 2nd the motion. The motion was approved. The Board discussed the current janitorial services being done by Mike May. Joe Fisher will provide the janitorial specifications to the managing agent. James Call discussed a bulk service agreement with GCI to provide cable service to the building. The service would be the preferred service with 57 channels and would be provided to all 31 residential units for a cost of $ 19.26 per month. The contract would be for 5 years. The managing agent was asked to send out a survey to the homeowners to find out how many owners would be interested in the service. The commercial units would not be obligated to take the service but could join in at the same rate. The next meeting of the Board will be held on February 26th at the hour of 6:00 p.m. in the 2nd floor conference room. Being no further business to come before the Board at this time the meeting was adjourned at the hour of 8:36 p.m. Follow up items
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