Board Meeting 01 2009

Parc On Summit Condominium - Meeting Minutes

Wednesday, January 14, 2009, 6:30PM
Starbucks @ Olive/Summit

I. Call To Order
a. Forrest Rode called to order the Board meeting of the Parc on Summit Condominium at 6:30PM on Wednesday, January 14, 2009 in Starbucks @ Olive/Summit.

II. Roll call
a. Forrest Rode conducted a roll call.

Present were:
Forrest Rode, President
Steve Wilson, Vice President
Joe Whiting, Member at Large
Pete Segall, Treasurer
Michael Park, Homeowner
Suzanne Heidema, Property Manager

III. Approval of minutes from last meeting
a. Board members approved the December meeting minutes, which were reviewed via email. This was officially documented at today’s board meeting.

IV. Agenda/Discussion

  • a. Homeowner issues
  • i. Web Site – Michael Park mentioned that the condominium web site was not operational.

b. Financial Report for January 2009 and Reserve Funds – Presented by Suzanne Heidema

  • i. Suzanne reviewed the financial statements for December 2008.
  • ii. $15,000 was taken out of the reserves to pay for the hot water heater project – essentially a bridge between paying the plumbing contractor and being paid by the homeowners. $13,500 has been paid back to the reserves. The remaining $1500 is anticipated to be paid back by 2/15/09.
  • iii. The Reserve Funds have now been split over (6) different CD/Money Market accounts with different maturation dates. Suzanne to add account mature dates and rates on Balance Sheet.
  • iv. N203 is over 6 months delinquent on assessments. Electricity has been shut off after numerous attempts to contact the homeowner, including a certified letter with a returned receipt that was signed by the homeowner. No one is currently occupying the condominium. The Parc on Summit attorney will be contacted and a lien on the property will be filed.
  • v. There are a couple of additional homeowners that are delinquent on assessments as well; however, these homeowners have contacted the property manager and have detailed a payment plan. The board appreciates the homeowner’s forthrightness and payment plan. If the homeowners make monthly payments that pay the current monthly dues and an amount toward the delinquent balance, no additional late fees will be assessed. The delinquent balance will incur interest on a monthly basis until it is paid in full. See Financial Statements for details.
    • vi. Financial Statement approved by the Board.

c. Old Business

  • i. Bulk Water Heater Replacements completed – Two homeowners still owe for cost of replacement. Property Manager is working with homeowners for payment.
  • ii. Damage claims – A homeowner’s damage claim related to the planter leaks has been settled for the amount of $13,500.
  • iii. Reserve study – bids are from $2,000-$3,280. There are 4 bids. One bid has no engineer/architect which the Board and Property Manager believe is necessary. The low bid is from the architect we are considering for the permanent deck repair design.
  • 1. Action Item: Post bids and reason why we went with selection on website after selection is made.
  • iv. Deck Repair –
  • 1. The Board has received four bids for the permanent deck repair project. The Board had narrowed down the selection to AKA Design based on water intrusion experience, forensic experience, and price.
  • 2. Pete Segall, Suzanne Heidema, and Steve Wilson met with the principal of AKA design, Brandon Hamilton, for a project interview. Pete, Steve, and Suzanne were very impressed with Brandon Hamilton in the interview.
  • 3. Pete Segall followed up by contacting four of AKA Designs references – which were all extremely positive (summary document was written by Pete).
  • 4. AKA Design changed insurers at the turn of the year. AKA Design sent new Certificate of Insurance to the Board the day of the Board Meeting. Steve Wilson is finalizing questions with the AKA Design proposal. Assuming the answers are returned as positive, Parc on Summit will execute a contract with AKA Design in the near future.
  • 5. AKA Design has also provided a bid for the reserve study (see item above).
  • v. Audit Complete – Waiting final reports from auditor.
  • vi. Update on food/yard waste program – Bin is located near glass recycle bin. This will be mentioned in the newsletter.
  • vii. Silverfish – Terminex is continuing silverfish treatments on a monthly basis. January treatment has not occurred as of board meeting.

d. Resident Manager Report - No report submitted.

e. New Business

  • i. Trash – Need to post new recycle program (food/yard waste) and also a reminder not to throw certain items down chute: cat litter, cans, and glass.
  • ii. North Building Pipe Leak – The water supply line to the North Building deck burst (due to cold weather) on 12/17. This pipe is run outside of the building, unlike the South building which is run inside the wall. The line was turned off at the shutoff valve in the stairwell. No water damage occurred; however, the pipe needs to be fixed when the weather improves – a minor repair.
  • iii. S106 Flooding – Unit S106 Kitchen sustained flooding on 12/30/08 due to a backup in the drain line below the unit. The blockage was caused by a buildup of sand/debris in the drain line. A plumber was called out the next day to snake the line. A water restoration company was called out to remove the water and sanitize the kitchen and hallway carpet. The carpet will be cleaned again.

f. Adjournment

  • i. The meeting was adjourned at 7:30PM.

Next Meeting is scheduled for February 18, 2009 6:30 PM at Starbucks

Minutes submitted by: Pete Segall Date Submitted: January 6, 2009

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