Board Meeting 05 2014

Minutes of the Parc on Summit Board Meeting for May 29, 2014

Forrest Rode – President
Matt Ayer – Vice President
Ron Gray – Treasurer
Joe Whiting – Member at Large

Marium Mohammad – Property Manager

David & Ellen Swanson – Resident Managers

Officers not in attendance: Steve Wilson

Homeowner issues: No issues brought to the board.

On Site Managers Report: The Board reviewed the monthly Resident Manager’s Report with the Resident Managers and Property Manager.

Approval of prior board meeting minutes:
April 29 Minutes:

• Motion by Gray for approval, seconded by Rode, approved 3-0.

May 5 Minutes:
• Motion by Gray for approval, seconded by Rode, approved 3-0.

Treasurer’s Report:

• Review and discussion regarding the monthly financial statements. We need some slight improvement in collection of our accounts receivable; all else is generally in line with budget.

[Board Member Matt Ayer joined the meeting at this time.]

• The Association received notice that the loan for the pending construction project has been approved. Motion by Ayer and seconded by Rode to select Mutual of Omaha as Association’s lender for the construction project, approved 4-0.

• Unit S-103 has sold and the Association received a portion of the outstanding balance. Motion made by Rode, seconded by Whiting to write off the outstanding balance, approved 4-0.

Old Business: Motion to ratify the selection of Green & Yalowitz as the law firm to draft the AIA construction contract between the Association and CDK. Motion by Gray, seconded by Ayer, and approved 4-0.

New Business: Construction Meeting/Special Assessment meeting for homeowners to be presented with scope of work, why work is needed, financing options, etc is scheduled for June 12th at 6:00pm at the Capital Hill Library located at 425 Harvard Ave E, Seattle WA 98102 in the community room on the second floor.

• The annual meeting is scheduled for July 29th at 6:30pm at the Capital Hill Presbyterian Church located at 1729 Harvard Ave, Seattle WA 98122.

• Marium with Phillips Real Estate will mail out the following to homeowners on May 28th: 2014-2015 approved budget, notice of special assessment meeting, notice of annual meeting, condo owner/renter update forms, and intent to run for board of director forms.

Executive Session

Meeting adjourned at 7:35 PM

Recorded by Ron Gray, Treasurer in the absence of Steve Wilson, Secretary

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