Meeting minutes for April 2009 board meeting
Homeowners Forum
There were no homeowners present at this months Board meeting.
Treasurer’s Report
The amount of water damage claims caused by leaking appliances totals $55,000. An insurance claim reimbursed $36,000, leaving the remaining $19,000 paid from Association funds. Should this need to be reclaimed from the membership, we would need to impose a dues increase of 35% for two years to make up the loss. We will not do so this year, but we must do so if there are additional claims. For this reason the Board strongly urges you to vote FOR the 3rd Amendment to the Declaration. If you have not yet returned your ballot please do so immediately.
For period ending March 31st, 2009:
Bank, Savings and Investment Accounts
Checking $26,474,87
Insurance Reserve $4,755.34
Replacement/Special Assessment CD $307,458,87
Other Assets
Petty Cash $100.00
Total Assets $339,758.90
Committee Reports
Hardscaping update–The City is bouncing us from one department to another to obtain a permit to update the Howell Street planting strip. No progress has been made.
Security
No security violations were reported
Rules
No rule violation were reported.
Old Business
The scratches were removed from the elevator. The Board is pleased with the results.
We have received 28 affirmative responses thus far from homeowners regarding the 3rd Amendment to the Declaration that shifts responsibility for insurance claims to the responsible homeowner under certain circumstances. We need a 2/3 majority vote to validate the amendment. If you have not sent in your response as of yet, please do so immediately, even if you vote against the amendment.
New Business
The City of Seattle has changed contractors for garbage and recycling removal. This has caused us some problems. The new refuse collector was only picking up 1 to 2 of our 3 garbage bins. This may now be corrected. The recycling contractor has missed pickups as well. There are problems all over area and the City and the contractors have been very slow to respond. Our Property Manager was finally able to make contact. He was told that the garbage pick up days remain Monday, Wednesday and Friday. The recycling will now be collected weekly on Wednesday. We will be monitoring pickups closely.
Meeting Adjourned: 7:15 PM