Special Meeting 09 14 2014

September 14, 2014

Parc On Summit Condominium Minutes - Special Meeting

Call to Order:
Sarah Morgans, President called to order the Special meeting of the Parc on Summit Condominium Association at 8:18 PM on Sunday September 14th, 2014 via a teleconference call. All board members are present on the call so meeting notice waived per Bylaws 3.2.7

Sarah Morgans - President
Mike Raschko, Vice President
Alin Sirbu - Treasurer
Allison Light – Secretary
Jeremy LaCivita - Member at Large

Discussion of whether owners had been given sufficient explanation of loan terms, specifically around delinquencies, defaults, and communication of risk to owner, concern being loan going into default due to the strict requirements on the loan and homeowners not being aware of the repercussions of going into default. Earlier communications to owners about the harsh consequences were cited but board agreed that reiterating to owners would be in spirit of improved communication and transparency.

Discussion of whether there is a clear process of suing delinquencies. Marium had been emailed but did not provided a meaningful response, though she did confirm name of collections attorney. Discussion that we need to make the delinquency process clear to owners and have a report from Phillips at each meeting to see who is delinquent.

Sarah will send a draft of communication to the owners reiterating harsh penalties and delinquency process, and we will send it to the homeowners once all board members have reviewed and approved it.

Jeremy motioned that we sign the loan agreement, Allison seconded. All in favor and the motion passed.

Discussion of owner’s request to have hardwood flooring approved. When Apparent Impact Insulation Class (AIIC) tested, the flooring failed the Grade 3, lowest construction standards. The Association bylaws do not outline a specific minimum AIIC rating, and the flooring was installed and paid for under the assumption that it would be in compliance as it was installed by the current building manager at the time.

Sarah motioned that we reject the owner’s request for approval on her new flooring but note that the Board would not immediately fine the owner nor require that she replace the flooring. Instead, the Board will prepare a statement that the flooring is not in Association compliance and that fshe, or future owners, are subject to providing remedy if complaints about noise from neighbors are received. The document will be included along with any disclosures the property management company provides.. Jeremy seconded. All in favor and the motion passed.

The board discussed the building manager position and what type — onsite v. offsite, temporary v. fulltime — the association would like to employ.Not all board members have had enough preparation time to have a full conversation at this time. All board members to prepare prior to the next board meeting so that the topic can be discussed at this time.

Allison motioned to ratify the motion to change the property manager to the new representative designated by Phillips. Jeremy seconded and all were in favor. The motion passed.

Alin will not be able to prepare the financial report in time for the September meeting because he is awaiting clarification and correction from the Phillips financial team. Instead, he will provide the aging report for the other board members to review in his absence.


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