Meeting minutes for February 2009 board meeting
Meeting was called to order at 6:30pm. December’s minutes were approved as written. There was no meeting in January.
Homeowners Forum
There were no homeowners present at this months Board meeting.
Treasurer’s Report
For period ending January 31st, 2009
Bank, Savings and Investment Accounts
Checking $25,955.79
Insurance Reserve $4,753.03
Replacement/Special Assessment CD $297,665.98
Other Assets
Petty Cash $100.00
Total Assets $329,444.15
This month we paid our earthquake insurance premium for the year. We are carrying just under 8.5 million dollars in replacement coverage. We also have increased our coverage for overflow of drains and sewer lines to $200,000 from $25,000. Increased coverage is still within the budget for insurance coverage.
Committee Reports
The hardscaping committee has submitted our proposal to the city and are waiting to hear back from them.
Security
The front entry door repairs took significantly longer than planned due to the parts no longer being made. After switching contractors for better service, we were able to have parts manufactured. The door should be repaired within 48 hours of the meeting.
Rules
One of the THS units was sent a fine for excessive TV volume past hours.
Old Business
The Board has continued efforts to remove the FHA blacklist status for the building. The Replacement Reserves study scheduled to be performed within the next two months will allow our application to have the status reversed.
The Board continues to work with Vertical Dimensions to obtain a quote for buffing the scratched stainless steel elevator panels.
Extra lights for the ceiling in the elevator have been ordered. Once they are in, the bulb will be replaced.
E-Rein construction has repaired the insulation in portions of the alley garage. The Board is inquiring as to the scheduling of the remainder of the work.
The Board has finalized details for the Association amendment and will be mailing it out to all homeowners shortly. Please be on the lookout for it in your mailbox. Once you receive the amendment, please sign the document (whether you approve or disapprove the amendment) and mail it to the address listed on the enclosed stamped envelope.
New Business
Our landscaping contractor, Oriental Landscaping Maintenance, has raised their fees by 3% for the year of 2009.
One of the businesses from the Ambassador I requested a new gate key. They received one once they paid the standard key deposit.
The Board discussed the mossy walls on the first floor southeast corner of the east building and some of the stains in the courtyard. Once the weather improves, the Board will be pressure washing the concrete floor and first floor on the building.
The elevator required service during the month of December. ThyssenKkrupp Elevator came out to resolve the issue.
Meeting Adjourned: 7:25 PM