May 16, 2001

Members present:

James Call
Gloria Kron
Joe Fisher
Kris Conquergood
Mike Courtney (Fiscal Manager)

The Meeting was called to order at approximately 7:00PM by Gloria Kron.  A quorum of Board members was established, and Mike Courtney read the minutes of the previous Board Meeting. Kris Conquergood moved to approve the minutes as read, and Joe Fisher seconded the motion.  The motion passed unanimously.

Mike was asked to update the Board on delinquencies.  (Owners names deleted from web minutes) One owner was still deeply in arrears, but has filed bankruptcy and will probably not be reducing the balance in the near future.  Another owner has a balance of $3,672.  Mike was asked to send workout letters to all owners with balances due from either assessment.  (Roof and Tower)

A discussion followed on the high balance in the operating account.  Mike explained that Woronzof has $8,528.00 in refundable dues deposits, which are used for working capital for the Association.  Most felt the majority of the money should be earning interest.  After discussion, James Call motioned to place the refundable dues deposits into a reserve account and designate a new reserve account as Refundable Dues Deposits.  Kris Conquergood seconded, and the motion passed unanimously.  Kris moved to approve the treasurer’s report, Joe Fisher seconded, and the motion passed unanimously.

James asked Mike to look into the insurance coverage for interior fixtures, such as cabinetry. Mike agreed to check the policy and report back.

Agenda Items:

Asphalt sealing: Mckenna Brothers backed out of their bid, and Tom Alexander arranged for another contractor, which was to start very soon. (Tom was not present to report)

House Rules:  Kris asked the Board to review the House Rules so they could be implemented as soon as possible.  She felt they would clear up some of the parking, trash, and other miscellaneous issues that the Board is routinely dealing with.

Sprinkler head in 7^th floor trash chute:  The plumbing company and fire protection company wanted a significant sum to place a cover on the sprinkler head.  All agreed to find a cheaper solution.  They also were unable to offer a solution to covering the baseboard thermostat in the lobby area.  Mike volunteered to check on the cost of trash chute wash-down systems.

Damage to the new stucco on the West End of the building:  Mike agreed to get the name of some Stucco-Flex contractors who might be able to repair the damaged areas.  There was also discussion on ways to protect the corners from additional damage.

Fire alarm monitoring: Currently the fire alarm system is not monitored.  Kris reported the results of her investigation of the cost of a monitoring service (cost comparison sheet attached).  There was discussion on whether a monitoring system was necessary.  James felt that if the system is not monitored, the Board is obligated to ensure the owners are aware that the alarm system is limited to the building, and emergency services will need to be contacted in an emergency.  Joe Fisher did not feel the monitoring was necessary, but agreed that notifying the owners was probably a good idea.  All agreed to put the choice to the owners.  Kris suggested sending a letter and see how the owners feel.  This suggestion was adopted and will be mail out in the future.

Easement:  Mike brought some easement and lease documents showing the East End of the Woronzof property, and the encroachment of the neighboring restaurant.  Mike agreed to identify the owner and send a letter to discuss renegotiating the long-term lease.

The meeting was adjourned at approximately 8:20PM.  Next meeting was tentatively scheduled for approximately June 7^th.

Respectfully submitted by Mike Courtney

Attachment:  Cost comparison

Fire Alarm Monitoring

*Includes lease of dialer.                                                           * Includes leased equipment

Phone line cost:

To monitor the fire alarm system we need to have two phone lines.  One can be shared and one must be dedicated.  We currently have two phone lines—one for the front door intercom system and one for the elevator.  We can use one of these lines as the shared line and install a new dedicated line.

Installation of one line is $93.00.  Presently ACS is waving this fee.

If they need to install the phone jacks that fee is $63.00

Service will cost $31.75 per month