Meeting minutes for March 2010 Board Meeting
Monday, March 8. 2010
Jack Taylor – Association Manager
Dale Hitsman – President
Shaun Ross – Vice President
Jay Heath – Treasurer
Greg Mitchell – Member-At-Large
Brien Shermen– Secretary
Homeowners Forum
No homeowners were present at the March meeting.
Meeting was called to order at 6:35 pm. February’s minutes were approved as written.
Treasurer’s Report
For period ending February 28th, 2010
Bank, Savings and Investment Accounts
Checking $12,802.53
Insurance Reserve $4,764.02
Replacement/Special Assessment CD $200,881.54
Other CD $ 151,978.78
Other Assets
Petty Cash $100.00
Total Assets $ 371,498.30
Committee Reports
Security: No security violations were reported.
Rules: No rule violations were reported.
Old Business
• Trash collection has been reduced to 2 days per week, Monday and Friday. The Board will monitor trash levels to make sure this is a cost savings. Extra charges for overflow are significant. Thus far we are well within limits.
• Fire Safety Systems completed replacing batteries on all hallway emergency lights. We also passed our sprinkler system testing.
• Our elevator has been repaired. The problem was narrowed down to elevator rails that were out of alignment. Repair costs were significant, but the results are smoother, quieter operations. Our Reserve funds will cover the costs.
• Once again the rules for FHA/HUD loans are being updated. We are continuing to monitor this situation.
New Business
• A homeowner requested a waiver of the move-in fees. Board policy is to collect a move-in fee whenever there is a change in tenancy. The Board rejected the request.
• The Association will be changing the signature cards for our Reserve accounts to allow for Board changes. Per the Association Documents, 2 Board Member signatures are required for any withdrawal.
Meeting Adjourned: 7:25PM. Next Meeting is April 12th, 2010 at 6:30pm in Unit E108.
Ambassador II Condominium Homeowners Association, 506 E Howell Street, Seattle, WA 98122