August 2008 HOA Board Meeting
Homeowners Forum
No homeowners were present at this months Board meeting.
Treasurer’s Report
For period ending July 31st, 2008
Bank, Savings and Investment Accounts
Checking $39,208.29
Insurance Reserve $4,745.87
Replacement/Special Assessment CD $266,975.73
Other Assets
Petty Cash $100.00
Total Assets $331,997.78
Committee Reports
The Beautification Committee is still working to schedule the elevator remodel. Everything is in progress. We are waiting on the final permits to schedule.
The Bicycle Committee is pleased to announce that a 2nd bicycle rack has been received and will be set up shortly.
Security
Some of the storage units on the upper level of the Summit garage were broken into during the last month or so. We encourage all residents to check on their storage units both now, and on a regular basis.
A car has been vandalized multiple times. There is no information available that would point to a specific culprit.
The THS unit that has been causing so many security concerns for the building has been subject to a forced eviction. The resident was out as of August 6th. We have already noticed a significant reduction in activity surrounding the building.
Rules
There were no rules violations during the month of July.
The Board has adopted a Rules change, This Rule will become effective October 1st, 2008. Please add this amendment to your Rules and Regulation document. A full amended copy can be downloaded from our website www.ambassador2.com after October 1st, or a copy can be sent to you via mail by written request.
Rule 10.2 shall be amended to read:
“Animals are to be kept inside the units and/or leashed at all times when outside the unit. All pets must be in the immediate command and control of the person walking the pet while on Ambassador II property. If a long leash is used all animals must be heeled at the side of the person walking them for the safety of residents and their pets.”
Old Business
The unit owner that had been sent to collections has paid their debt to the Homeowners Association. With the full amount collected from them, they now have a zero balance.
The Board is continuing to work with the unit owners who were effected by the flooding from the THS unit. The THS unit has had additional fines sent for continued noise problems.
Davey Tree Expert has been engaged to trim the Howell St. trees on 8/14.
New Business
Due to security concerns we are asking THS to provide information about the keys on one of their recent residents. The resident has been evicted, however there is some evidence that the tenant may have lost control of their main gate key. If the keys cannot be verified, we will then discuss re-keying the building.
The Board is working to amend the Association Declaration to properly protect the Homeowners Association by malicious or negligent damage caused by unit owners. Details on this amendment will be presented at the annual Homeowners meeting and put forth to the association for vote.
To reduce exposure to a volatile financial market the Board is investigating methods to ensure that both the Association holdings and reserve accounts receive full FDIC protection.
The Board has received a quote for $1,800 to power wash the court yard, front steps, and parts of the concrete walls along Howell St. We are looking for further bids to try and find a better deal.
The main gate suffered some damage and was repaired this month.
Meeting Adjourned: 9:10 PM