Meeting minutes for June 2010 Board Meeting
Monday, June 14. 2010
Jack Taylor – Association Manager
Dale Hitsman – President
Shaun Ross – Vice President
Jay Heath – Treasurer
Greg Mitchell – Member-At-Large
Brien Shermen– Secretary (absent)
Homeowners Forum
No homeowners were present at the June meeting.
Meeting was called to order at 6:35 pm. May’s minutes were approved as written.
Treasurer’s Report
For period ending May 31st, 2010
Bank, Savings and Investment Accounts
Checking $6,865.29
Insurance Reserve $4,765.18
Replacement/Special Assessment CD $210,599.10
Watermark CU Savings $126.32
Other Replacement Reserve CD $ 152,000.00
Petty Cash $100.00
Total Assets $ 375,427.72
The Board has approved a withdrawal from Reserve funds to pay for the scheduled repairs outlined below.
Committee Reports
Security: No violations reported
Rules:No violations reported
Old Business
• We are now an FHA Approved building. Buyers may apply for FHA backed home loans.
• The Board will meet with our contractor this month to finalize details for the bridge and walkway resurfacing. Please look for notices in the lobby with details. This project is scheduled to begin on July 12th.
• The replacement of the north flat roof of the east building is in progress and should be completed within the next few days.
• The noise issues at the Redwood bar continue. Please call 911 if you have issues with the noise or other activities, especially in the alley.
New Business
• The annual homeowners meeting will be Wednesday, August 11th, 2010. More details will be mailed to all owners in July.
• Our annual Reserve Study has been completed. Once again we are in the highest percentile of all associations with adequate funds for repairs and replacements of high priced items.
• The East Building carpets will be cleaned after the walkways and bridges are resurfaced in July.
Meeting adjourned: 7:30PM. Next meeting is July 12th, 2010 at 6:30pm in Unit E108.
Ambassador II Condominium Homeowners Association, 506 E Howell Street, Seattle, WA 98122
FHA approved
The Ambassador II Condominiums are now eligible for FHA backed loans. Please contact your real estate agent for details.