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Springbrook Hill Owners Association Board of Directors Meeting Minutes

Date 10/19/2010 Board of Directors: Cliff Richards President, George Klein Vice President, Sonia Workman, Secretary, Mike Cunning, Treasurer, Dan Lynch, At large At 7:00 PM the meeting of the Board was called to order by Cliff Richards via WebEx teleconference which was agreed upon by all members of the Board prior to the meeting. Cliff Richards opened the meeting to discussions: · How proceeds/sums of $17,000 from the bankruptcy court and check for $6700 from Chesapeake Holdings condo fees to be handled. Mr Klein recommended opening separate saving accounts. The amount of $17, 000, to be divided between accounts based on number of units sold at the Auction, as reserve. Mr Cunning stated that there are two units under contract and that one will be closing 10/28/2010 and the other may close sometime in Jan or Feb 2011. This brings up the need for the Resale Certificate to be in place. A copy was attached to the agenda for tonight's meeting. There is a lot of very positive response and showings of units right now. Sales will add to the current proposed budget. Mr Klein said that once 5 units are under contract he intends to increase the price of the Garden Units. Mr Richards expressed, on behalf of the rest of the Board, our appreciation for all the work Mr. Klein has done, and the importance of all to be on the same page going forward.

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BUDGET November 1, 2010 ­ October 30, 2011 Mr. Richards explained line-by-line evaluation of the proposed Budget and questioned amount $8000 for Maintenance. The numbers actually add up to $9,000, a difference of $1000. This amount to be used to offset the budget for Fuel. · Mr Klein stated his list was based on information from Walter's budget. All expenses were looked at and created bearing in mind expenses and the extra money for other things such as Sewage. This was really an estimated/guessed amount and that if needed there may be some money in reserve to help. · Insurance: Mr Klein to send out Policies tomorrow. · Mr Richards stated that looking at the budget and the cost for electricity seems high. There are ways to reduce cost by looking at the amount of lighting throughout the compound. Mr Klein recommended a subcommittee look at lighting but to keep in mind safety, and the fact that current bulbs are energy efficient light sensitive and doesn't cost as much to run. Mr Cunning was elected to mark poles to be turned off including ones that are already broken if it is in a place where ther are other lights. Mr Klein requested that all 16 Electric bill, be switched over to the association and that they should be checked monthly. Sept's

bills will not be the responsibility of the association. Mr Richards was asked to contact CMP to have common accounts switched over to the Association. Mr Klein will send Electric Excel Spread Sheets to the Board. Condominium Fees. · Mr Klein proposed condominium fee of $350.00/month for everyone starting Jan 1 2011, however all agreed that it should start Dec 1 2010 instead as this would start to generate funds we do not have. The amount if put to a vote, Chesapeake would have the majority. Going forward all bank statements are to be transferred over to the association and that George has already mandated money from his units to be deposited into the account monthly. Motion was on the floor to accept the Budget to present, motion seconded. This should now be put out to the association members to vote on. George to send out the Budget excel program to Mike. Mr. Cunning requested Walter Skayhan's address, which Mr. Klein will forward. Late payment of condo fees. So far all but one owner paid up to date. Because of the confusion at the first Board Meeting the Garden unit owners were short $22.00 as they paid $276 when they should have paid $298. Mr. Klein has master list which he will also send to Mr. Cunning. Late fee penalty was discussed. Ms. Workman referred to Article 14, Section 14.3 and 14.4 regarding Payment of Assessment/fees. Using those recommendations, late payment percentage would be higher. Mr. Klein recommended a flat fee of $25 if payment not received by the end of that month. Late payment over 30 days to be $100.00 with only one (1) grace period allowed. Note! Fees are due 1st of the month one grace period of 15 days allowed, if 30 days past without payment there will be a $100 Fine. Mr Klein suggest a simple fix, however we should get a feel for owner's response/reactions before making changes.

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Mortgage Holders. · Ms Workman is still working on the list of Mortgage Holders and their addresses which should be completed and sent to Mr. Richards by Thursday.

Resale Certificate form

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Form was accepted by all with a minor adjustment. Cost for new buyers will be $100. Mr Klein remarked that Maine State Condo laws state that the Treasurer has 10 days to issue Resale Certificate.

Propane · Mr Klein was aware of the subcommittee's recommendations for billing of propane but had concerns and offered another way for billing; Garden Units that are occupied should pay 20% more than those that are vacant. He thought that dividing the bill by the number of units then add 20% for occupied and subtract 20% for unoccupied would seem fair. He agreed that it is more complicated matter for the Garden Units and will leave the decisions as is with the understanding that the issues be revisited soon.

Maintenance cost The issues of Joel Blemaster's charges were discussed. Mr. Richards stated that a bill for $6500 for September 2010 was received. Mr Klein said this amount is perhaps too high at sometimes and not enough certain times. This was an agreement Joel had with Walter Skayhan. A memorandum of understanding from Joel should be sent to the Board. It is important that he puts in a proposal for snow removal like everyone else as a contract is needed very soon. · · Mr Richards gave update on where we are with collecting RFPs and that a subcommittee is working on that. They will forward their recommendations next week. Mr Richards stated he is working on developing a Website for Springbrook Owners Association where minutes of our meetings and other information related to Springbrook will be posted. This would also be very helpful for prospective buyers and businesses as well as connecting relevant services. He will keep us updated on progress. Mr Cunning talked about how dark it is in some Garden units while showing prospective buyers. This is due to the overgrown landscape. Mr Klein suggests he develop specifications for Maintenance regarding trimming/landscaping around the units. Mr Klein said that during his walk around the property, renters have done well with the upkeep of their units; however there are many appliances and carpets that need to be replaced to bring them up for resale. Joel Blemaster has stated that in order to bring the heating system of the garden Apartments up to standard, he needs to replace redundant pumps. He has been taking from one pump to fix another pump; hence, backup pumps are not functioning. This needs to be fixed as soon as possible. Mr Klein proposed meeting 1 -2 times per month while the budget is still being worked on. All agreed.

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Meeting adjourned at 8:05 PM. Respectfully submitted by Sonia Workman Board Member

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