Meeting minutes for November 2008 board meeting
Treasurer’s Report
For period ending October 31st, 2008
Bank, Savings and Investment Accounts
Checking $39,671.99
Insurance Reserve $4,749.45
Replacement/Special Assessment CD $282,299.05
Other Assets
Petty Cash $100.00
Total Assets $327,789.11
Committee Reports
There were no committee reports this month.
Security
There were no security issues during the past month.
Rules
A noise violation was recorded and a fine sent during the month of October.
Old Business
THS has started plumbing upgrades in all of their units. These upgrades will replace all valves that are suspect – the Board encourages all owners to have their plumbing valves checked and replaced as necessary to avoid water damage. There was additional damage done last month by another leak in the x11 stack of units.
The keybox containing the fire keys for the building has been vandalized. A new one was installed, and the City of Seattle will be meeting with our property manager to have keys placed in it.
A minor leak from 503 to 403 occurred and is being handled between the unit owners.
The elevator remodel has been completed and the Board is, so far, pleased with the work. Additionally, we are investigating in getting the flooring cleaned (and possibly replaced long term) and the stainless steel walls buffed to give the elevator a “like new” feel for a very minimal investment.
We have received the proposed declaration amendment regarding liability of damages back from our attorney. The proposed amendment will be mailed out to owners shortly. The Board strongly encourages approving the amendment to help protect our association from bearing the financial brunt of any unit to unit damages.
The push bar on the pedestrian door to Howell St in the alley garage has been replaced with a new mechanism.
New Business
The Board has decided to raise the standard fines for rules violations. This adjustment will take effect on January 1st, 2009. As always the first violation of a rule other than malicious damage will result in a warning, with escalating fines of$50, $75, and $100 for each subsequent offense. Please see the Rules and Regulations document for information as to what constitutes a violation of the Rules.
New no-trespassing signs have been received, and we’re in the process of replacing the old ones. New signs will be installed as weather allows.
Meeting Adjourned: 7:25 PM